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Sold all but 5000 of my Tesco shares but should have sold much earlier rather than waiting.
I don't think it has anything to do with add some shares. This pattern of pushing down the stock has been a consistent one. There is someone out there with an agenda. I don't own this stock but I will get in if it continues down. I will buy and hold for the medium term. But not just yet. - As for your position in Tesco, what did you do? Are you waiting it out? For my mind, developments at Tesco highlight the extreme weight you must give to management (and their egos).
Seems to be dropping 1-3% on a daily basis, also the fact that the management are increasing the amount of shares in circulation by 850000 shares (i.e diluting current shareholders shares) has not gone down well.
When the stock is being played, not traded, it can easily slip below 200, especially when stops kick in and a sell-off starts that mischievous domino effect. - Incidentally, this has nothing to do with fundamentals whatever.
imo This will drop tomorrow morning but its vital it doesn't drop too much. it needs to maintain this current level otherwise its doomed. Important couple of days coming up.
I beg to differ, I think something odd is going on here. This stock is being played, not traded. I see no pattern, only an intention to do something.
Just checked ECM & feel it cannot drop much more. it needs a few things to set up first within the (charts) but slowly getting into position.
There is something odd going on here?!?
Unfortunately this doesn't want to go north & just sold out with a 5% loss.
Get ready for a mini take off within next 24hrs.
This isn't the most attractive level to buy in at but there is a 5-10% to be made in coming weeks.
Did anyone short this? Make money going LONG & SHORT...why not....lol
I don't see this rising much more, so around this level may be wise to get out at what is imo top of this particular rise.
Looking forward to trading statement Tommorow.
Just bought, dividend is attractive, and still space to grow!
Recd today by Midas share tips.
Jump aboard, this will take off within next few days - week.
280 has been hit, so how far north are we going now?, imo a good bit yet.
Electrocomponents: Credit Suisse raises target price from 210p to 280p upgrading to outperform.
Tempus writes that the phrase ‘high operational gearing’ is used to describe companies where fairly small changes in sales or costs have an overwhelming effect on profits. It is hard to think of a better example than Electrocomponents, the world’s biggest distributor of electrical and electronic bits and pieces. This is a well-known proxy for global economic performance because its goods are ordered in their millions, so the slightest slowdown has an immediate effect. In the first half to end-September, cost inflation was running at about 3%. Margins fell by 1.2% and the lower euro hit earnings from the Continent and thre were one and a half fewer trading days than in the previous first half. These are tiny changes, but together they meant that pre-tax profits were off by 30% to £41.5m on flat revenues. It is the ultimate cyclical stock, and on 12.5 times this year’s earnings, unless you think the world economy is set for a significant bounce, probably worth leaving for now.
Electrocomponents: Panmure Gordon reiterates sell rating and 175p target.
IAN MASON, GROUP CHIEF EXECUTIVE, COMMENTED: "The business faced a number of headwinds in the first half, with a robust UK performance helping to maintain Group sales year-on-year. Whilst the macroeconomic environment is challenging, we expect a stronger second half of the year given initiatives to drive sales growth, easier sales comparators and actions we are taking to improve operating margins. Our new global operating model will allow us to provide a larger, more consistent offer to customers worldwide via our industry-leading eCommerce platform. We are confident that this approach will enable us to accelerate the implementation of our strategic initiatives, drive efficiencies, gain market share from our numerous smaller competitors and deliver a higher rate of long-term growth."
CURRENT TRADING AND OUTLOOK In October Group underlying sales growth was flat. The UK grew by 3% and International declined by 2%. The UK growth was 2% after excluding the global sales of Raspberry Pi *. Within International, Continental Europe grew by 1%, North America declined by 6% and Asia Pacific declined by 1%. Conditions in the electronics market continued to be tough, which particularly impacted North America and Japan as these markets have the highest electronics exposure in the Group. North America's performance was also impacted by Hurricane Sandy at the end of the month. Whilst we remain mindful of the challenging global market conditions, particularly in electronics, results in the second half are expected to benefit from initiatives to drive sales growth, easier sales comparators and management actions to improve operating margins. Gross margins are expected to benefit from targeted selling price increases and actions to improve discount effectiveness. Headline operating costs as a percentage of sales should be lower in the second half as compared with the first half.
Operational Highlights · New organisation structure to accelerate strategy and deliver £6m - £8m p.a. of cost efficiencies · International comprises c.70% of Group sales, with significant opportunity for future growth · Maintenance sales grew by 2%, benefitting from enhanced automation and control offer · Electronics sales declined by 2%, outperforming the market in challenging conditions · North America sales impacted by high electronics exposure and adapting to a new IT system · Group eCommerce sales growth of 2%, UK and Europe eCommerce sales growth of 12% · Significant enhancements to our websites, increasing our advantage over smaller competitors · UK contribution growth of 2%, with a contribution margin above 28%