Andreaban & guys: Going to---6 Dec 2013 19:27
Ramble on a bit now so apologies up front , but it's pretty quiet so here goes :
US non-farm payroll came in higher than expected so DOW has shot up to the 16000 level rapidly --Missed the initial surge but got in just after the open so made a bob or two there.
Danger is still that @ 16100 we get a convergence of the extreme long term uptrend from 2000 and the shorter term uptrend from the lows of 2009.This all means that quite simply it will probably pull back once these lines of convergence cross over. "CHARTIST " from shares magazine is right on this point but the pullback although technically could take us back to his stated level -the time frame to achieve his low of 14300 odd is very wide and could take months.? He admits to calling this incorrectly twice already (there's confidence in your own ability for you -NOT )--My opinion is a pullback will stay well above his stated low levels .
Enough of that rubbish, on to SMDR : Andreaban , get the other guys to do a more in depth report on the Company financial position etc etc cos the're better with that than me.
They've just issued an unsecured bond for $150 mill. to attack their net debt , this is paying 9.75% and has been placed successfully , this is good as being an unsecured bond far more confidence is required from investors.I've looked quickly over the last two interim statements etc and can't see find any Glaring issues not being addessed
Agree with you , several brokers are positive @ present levels , .
It is at year lows , not seen for ten years (even a bit lower then ) so downside is probably limited but it could see some more downside is MHO. It is currently obviously in a long term downtrend , but seems to be holding at these levels with several touches on or at the 1 pound level. The upside ,if you take the gamble , is that it could rise to 160 or even 170 and still be within the downtrend. From current level this would give a return of 60-70 %---I think this is well worth serious consideration as the risk/ reward is very high in favour of reward.
I would like to hear the Guys opinion on this one before buying in , hope we can get theirs over the weekend.?
Sorry for rabbitting on everyone VGLA.
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