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Matt, No you don't have to set a stop loss, but if you don't the margin required increases. DD
Matt just read your earlier post on me packing my tent up! Guess I lack self confidence as a relative novice with investing, then start getting inpatient if it doesn't go the way I think it should, ergo I must be wrong!, the market must be right so best get out with at least some profit than none at all. Think if I was well up prior to selling here then I would have been more inclined to hang on longer - oh well :) Good luck here. DD
This may be of interest Matt: Dear Mr x From Sunday 30 July 2017, we’re changing the way that we calculate your margin requirement for positions with guaranteed stops. How will I be affected? Your existing positions and working orders will not be affected. Your margin requirement for new positions with guaranteed stops from 30 July could increase, as per the calculations below. How does it work? Your new margin requirement will be calculated as the larger figure of the two calculations below: 1. Your maximum risk on the position with a guaranteed stop (your order size x stop distance + stop premium) 2. The normal margin requirement of the position assuming no guaranteed stop As an example, say you open a long position of £10 per point on the FTSE at 7450, and place your guaranteed stop 50 points away at 7400: 1. Your maximum risk on the position is £10 x 50 points (stop distance) plus £10 x 0.8 points (FTSE guaranteed stop premium) = £508 2. The margin percentage on the FTSE is 0.5%, so the normal margin requirement on the position assuming no guaranteed stop is £10 x 7450 x 0.5% = £372.50 In this example, the maximum risk is larger than the normal margin requirement, so the margin required to place the trade is £508 – the maximum risk on the position. Using the same example, say you move your guaranteed stop from 7400 to 7425, so your stop is 25 points from your opening level: 1. Your maximum risk on the position is £10 x 25 points (stop distance from opening level) plus £10 x 0.8 points (FTSE guaranteed stop premium) = £258 2. The normal margin requirement on the position remains at £372.50 In this example, the normal margin requirement is larger than your maximum risk on the position, so the margin required is £372.50.
Hi Matt, Nice to see holders getting an excellent rise today. Did quickly read through the results and a bit surprised tbh with the reaction, they were good but must have missed how good!, will read again but tears of regret may prevent me from digesting fully. That said these are still worth £7 IMO. Yes should have been a lot more patient here and waited but you live and learn - fundamentals will prevail, :) DD ps Not too clear on their margin policy change recently and whether or not it will deter customers, also seemed to be rather a penny pinching move (have a look and your views would be appreciated).
2015 Annual Report, online sales 16.5% of total sports retail sales (so by my calcs about 14% of group sales). Are you invested here? DD
Irene, Don't think any if the numbers weren't already known (posted up Rev £3.2bn and pre tax £141m in June), although the £126m pre tax that some were quoting (one mentioned £142m, can't remember which paper) was a bit of a surprise. Was more interested to see what the analysts/city are more interested in as well as their general sentiment towards the business. Guess all will be revealed on Thursday but in terms of numbers I'm not expecting too many surprises (possibly a bigger hit on margins though) but what's more important is their update on the "selfridges" strategy and their outlook. Plus will MA drop any surprises (purchased a yacht this time!) and maintain his "no current intention to take it private". DD
Irene, Market reaction to negative results forecasts in numerous publications today.......eg. underlying profit before tax more than halved to £126m, the lowest since 2011, margins likely to be hit, etc etc. (See links 10:26 posting). DD
MA will take this private IMO and have stated that on numerous occasions, did hold pre Brexit but got stopped out at a small loss. The fact they hadn't hedged sterling, plus all their other governance issues convinced me the investment case had changed and this was ex growth and overvalued currently. Those that fail to change their views when things fundamentally change are fools and suffering from confirmation bias. The takeover code stipulates that MA is in a position to make an offer for the remaining 39% at a price which must be at least equal to the highest price in the preceding 12 months. The buyback has capped the sp and Mike appears dead set on accruing as many assets and strategic investments as he can to get them on the balance sheet. Come the Sept AGM the 52w high is about 325, my guess is he will extend the buyback, come October the 52w high is 320 saving him £10m. The further it's extended the more likely the minimum offer will get lower IMO. This is a fascinating story and other than trading this via a SB I have no inclination whatsoever to invest long term, that said it's all IMO, so DYOR and good luck for holders. DD
Dipyourbreadin Sorry but your interpretation was completely false and misleading, Hellawell did not say what you posted up, you were IMO trying to make out that the next set of results will "make shareholders happy". Well going on recent press and analysts forecasts shareholders are unlikely to be in anyway "happy". http://www.chroniclelive.co.uk/business/business-news/mike-ashleys-sports-direct-expected-13333875 http://www.telegraph.co.uk/business/2017/07/15/sports-direct-profits-sink-weak-pound-expansion/ http://www.thisismoney.co.uk/money/news/article-4699352/Mike-Ashley-pressure-Sports-Direct-profits-dive.html No surprises for me tbh and have posted up as much previously. So possibly already in the price, but the sp action tomorrow will confirm one way or another. DD
Dipyourbreadin "The chairman said last year he plans to make shareholders happy on full year results otherwise he'll walk" Did he?, can you post up a link please. Hellawell at last years AGM when he received a vote of no confidence oh his chairmanship said: "I take this clear message from our independent shareholders seriously, and I will do my best to address their concerns and earn their confidence over the next year. I have confirmed today that should I not receive the support of a majority of our independent shareholders at next year's AGM, I will step down at that time with immediate effect." DD ps it's fairly obvious, following this weeks court case, why MA keeps his poodle Hellawell, say no more.
Wonder what Mad Mikes put option price is?....what a pile of shite, ooops sorry not pc, what a value trap. If the story fundamentally changes then change with it or end up holding a DEB in your sweaty palms that nobody wants!. DD
Weekly resistance is 298, had a few goes at it yesterday and again today with no joy. Monthly resistance 302 if it does manage to get there. DD ps Irene, good to hear :)
Costa - No probs, think we are on the same lines. DD
Costa Wouldnt disagree with MA's manipulation but the free float cannot go below 25%. Irene We just have a different view on things, so you're a bit out of order IMO by saying "you are simply wrong"!, time will tell. Likewise you seem to have the inside track on why MA is doing it - I completely disagree about his primary motive thats all. Good Luck DD ps no need to shout!
Irene Your cup is clearly, or you think it is, half full :), mine half empty :( "Buy backs raise the shareprice remember so it is not a cap"........remember though it hasn't raised the sp, so not a floor but a ceiling / capped - semantics. GL DD
Irene, The brokers have been told not to buy any shares >£3, if that's not a cap I don't know what is tbh. Think again we will have to agree to disagree. DD
I know, but not in the case of SPD, they will not buy back above £2.9999999999, price before buyback 327, price now 295, the buyback has IMO capped the price........why should mug punters buy above £3 when the business (sorry shareholders!) won't. DD
No offence but disagree. The free float is 38% (according to ft stats) and all FTSE listings have to comply with a minimum free float of 25%, so "this share performs like no other" due to MA's holding is not true IMO, unless you have checked the level of free float for all FTSE listings?. Yes the sp is trading 280-302 range generally but IMO that's because of the buy back putting a cap on the price - would thus slightly agree that MA is in a way controlling the sp but again IMO he wants to suppress / drop the value so he can take it private - all IMHO, DYOR, etc. DD
Don't disagree, just depends on what your expected return is over a given timeframe, in my case this was not hitting those expectations even taking into account the dividend, so I sold up. Sure it will get there eventually and it's a very sound business, so wish you well. DD
"Thought the FCA update was released on Friday?"......sorry, meant Thursday!. https://www.fca.org.uk/news/statements/fca-statement-contract-difference-products-and-cp16-40 DD