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Just because they are overpriced does not mean that they will not sell. You will notice how overpriced they are when you come to re sell. I speak from personal experience. Maybe in London and south east people will buy anything, but further up north, expect a 25% hit when you come to re sell combined with extra selling costs and selling/leasing clauses. However, that is business, and good for shareholders. Looking for £1.8 and £2 soon. Results were fantastic and appear to have been missed by many investors.
HelloBlue2 I'm not weary and I haven't been ground down by Fastjet. Far from it, it's hilarious what people say there. Regarding MCS, I thought a while back when the Price was nearing 3 quid it was unlikely they would be announcing any dividend at that price.The yield would have been tiny. OK, it's not that great now but it's doublé what it would have been then. I once thought about buying into a funeral service. I suppose buying MCS is buying the waiting room.
Down from 280 to 166. Profits good. Dividend on about currently 2% and property remains risky in current climate with economic woes possibly. Desperate housing shortage and the grey's have all the money we are told so just cannot decide whether to buy a few.. Dither dither..
I live in Loughton in Essex and round the corner from me they have recently built an 11 unit 2 bed luxury apartment development and are shipping them out at around £600k with 80% sold so the profit on just that one must be impressive (as Ortus Homes). They have also started a larger MCS development just down the road with another planned in Buckhurst Hill nearby. I can't see 2 bed flats in those ones for anything less than £350-400k just from local comparison (e.g. recently completed 2 bed flats above Sainsbury's local going for £400k). Overpriced? Possibly, but market forces dictate and they must have significant margin if they can shift them.
Methuselah, you sound weary. Is the clue in your user name or have you been completely ground down over the years by Fastjet, like me? PS How is the waistband coming along?
I don't know if they sell overpriced homes to the elderly or not. As you get older and older, overpriced becomes less and less important. I think their houses are well built
Results are far better than predicted, divvy not exciting but all else is positive.
impressive results: · Underlying profit before tax2 increased by 19% to £105.0m (FY15: £88.4m) · Revenue increased by 31% to a new record of £635.9m (FY15: £485.7m) · Legal completions increased by 20% to 2,299 units (FY15: 1,923) · Net average selling price increased by 8% to £259k (FY15: £239k) · Adjusted underlying earnings per share3 increased by 9% to 16.1p (FY15: 14.8p) · Strengthened financial position, with £52.8m of net cash4 (FY15: £44.4m of net debt) at the year end · The Directors are proposing a final dividend of 3.5 pence per share in accordance with previous guidance given within our half year results. This follows the (pro-rata) interim dividend of 1.0 pence per share, giving a total dividend for the year of 4.5 pence per share
I dont think Trump will have any great effect on MCS share price. He will not stop retired people looking for warden controlled accomdation. This company is ruthless in making money from selling overpriced housing to the elderly. Maybe not good for the customer, but good for the shareholder. Will be 180 soon and 200 early next year if results are half reasonable.
Heaven help us all, President Trump. I'm out of all I have should my stop losses execute, which may be unlikely, which will mean sitting tight and hoping for the best. What a year of unpred
I will not be surprised if they take a 20% stake here they need long term rising income, Mcs will give that over the coming years gla dyor
Actually take a look at RNS from 31 Oct as well - they have bought around 8.2 million shares in last few days. Obviously think results will be good on 15th.
If todays RNS is to be believed then Canada Pension Plan increased their holding in MCS on 31 October by around 4,500,000 shares. Hmm, perhaps I will hold a little longer. Regards CM
People are still getting older and need somewhere to live, Onwards and upwards
This should get us ticking up to £2 by the end of the week?
This won't move for the next year at least , only down. Because there won't be any good news next year inmo .
Goldman sachs has been selling a bit of stock in this and others, explains why price has moved down, expecting a pick up here once sales stop
Bought more, will buy heavy below �1.50p for long term hold. gla
:) :) Nothing is ever 100% reliable all the time, the best that can be hoped for, is to be reliable - the greater majority / most of the time, rather than unreliable most of the time. Quite impressive the show of strength for support round the lower 180p+ area. Currently, after that show of support, the worst that might be contemplated might just be a rangebound vacillation between 180p -192p until fresh news emerges (hopefully positive). Early days, so nothing ruled out yet.
Stay with the Candlesticks and chuck the other stuff away
Well that was as dull day. Still a load more shares bought than sold , tiny volume traded .
Thanks for the detailed reply. I'll play safe and have sold for a tiny profit. (Got a feeling the candlesticks may be right though)
Cont: So it OPENED out of the blue at 190/191p for the first 10 or 15 minutes as best I can make out then about then fell off a cliff in an instant to roughly 182p - which turned out to be a support level as it is was the lowest of the day. You can then see the bargain hunters coming in as the price started rising throughout the day with little retraces now and then but slowly crawled up to close at 185p (and thus a RED down volume registered on all charts because the SP closed lower than it opened - despite more buyers than sellers!) Which brings me to the second point of perhaps positiveness for you to consider, and it’s this: For a bad day 11% fall it steadily climbed back and was STILL climbing by close - not falling (As C/Mate said he was hoping it would make it back a little higher; well looking at the chart it’s no assumption to say that was looking on the cards. This is where the strength of greater buyers than sellers was telling from that 8:15am/8:30am low - it never went back down there and slowly made a modest headway up to 185p. Take comfort from that E/Paul. The question now is: Will these bargain hunter buyers return next week - or was that it? Because they did drive the price up all the way up from 8:30pish onwards until the end of day. One other thing. Something that (on this occasion only) has now rattled my certainty of big falls like this always continue for some days after before halting - Candlesticks. Ultra short term Candlesticks say MCS is still a buy - according to candlesticks Japanese Candlesticks have been in use for 300 years (originally in rice markets :) so they'd have been binned by now if they didn't get things right more often than not. - yet on almost all other technical metrics (including red volume they say what my original post opined - this isn’t the end of the fall. Perhaps Candlesticks are simply wrong on this occasion? Whatever, not long now to see what the next step are to be. ----------------------- Geez look at the time. Time I turned in for the day.
This is taking too long so cut it in two. (Must be the late hour :) Saw your post earlier today E/Paul but had too much to do. However in the course of digging up some info leaving no time to post I became aware of two things that a) Might give you some sucour in your observation for a more positive outlook to the week ahead than I have thus painted so far. and b) Why the SP MIGHT not fall further. A few quick notes: First, to your first point; 'Oversold' - on the contrary on a cumulative basis the SP is not oversold. In fact the SP was technically overbought until Friday morning and has been above and over RSi 70 (Relative Strength Index) for a good week now since about Aug 23/24th approx. (RSi 30) is the opposite below which a share price is considered oversold. I hadn't checked and due to the magnitude of the fall just assumed like you "that's gotta be oversold now probably at or below RSi 30. But not a bit of it - it closed at a very reasonable and steady-as-she goes 50 RSi. That surprised the hell out of me. Re-seeing the hitherto technically overbought condition against MCS reminded me of one of the reasons I had been holding back (MCS is currently a highly rated company and receiving favourable media coverage up until Friday, in tip-sheets and everything, which might explain the overbought situation, so the price by Friday close has let the overbought pressure-cooker steam escape to a more sustainable level). On buyers and sellers volume -. Firstly the volume display on this site is inadequate in that it doesn't give you enough information. I prefer those volumes where the sites colour them red for down-volume or as I call it 'bad volume' and green for up-volume (good volume :) A lot of explanations on the web will say that's because there were more buyers (green) or more sellers (red) but as you pointed out that is not so for Friday yet on sites all over the web every single one is colouring the volume in red! Yet sellers were in the minority (incidentally Friday's total volume was the higest for MCS since the end of June - and before that a mega volume day in March So it's the third highest volume day in nearly 6 months! I subscribe to the view that it's red volume if the price closes lower at the end of the day than it OPENED - no matter if like in this case buyers were greater in number than sellers (more of that in a mo' ) And visa versa if the price closes higher than it opened it dosen't matter if sellers were greater than buyers - it'll be shown as a green volume bar. And that's what's happened here. I challenge anyone to trawl the internet and find a chart showing Friday's volume in anything other than red! There isn't one. From what I see on those charts still showing Friday's volume the price opened way down at just under 191p. It was waaaay over £2 at close the day before, wasn't it? So no one had a cat in hell's chance to get out at anywhere above £2 first thing Frida
Re more sellers on the day of the drop - would this not give hope that the shares have been oversold?. Not necessarily; it isn't as straight forward as that unfortunately. It just indicates that there has been more interest in buying at the lower rate. If there is any encouragement it is that the share price opened at 185p and closed at the same price, which to me indicates that there is some strength there possibly. It would have been worse had it opened at 200p and closed at a days low. There may be further weakness in the short term as I feel there may be more concerns generally for the market over Brexit issues. Medium/longer term things may be rosier. Regards CM