Member Info for joseywales

Well JP just got told Peel Hunt were being made joint brokers. A Trump-like toys-out-the-pram moment.

On the positive side, the orange man with wavy syrup seems to be coming round to the concept that high tariffs on China might be a bit of an own goal. Who knew!!

For next week I think we are similar. JD for me though and top up on EVOK and FCH maybe. Considering a reduction in SYNT. Just can't see how they will have an update which will propel things upwards. Mitigate against the downside even if it means swallowing a loss ... buy them back in the 8-8.20 'gestation' period if there's anything positive. Just hope we're not on the slide to 50p or below.

Reaction to the credit issues at those banks seemed a little OTT again. Just shows how fragile things are still.

WT ... great days these are. Out of cash though for now. FCH, MCG being my preferred flavours of the day.

Looks like management are keen to get the trading statement out for SYNT. Seems a bit earlier than usual. Not expecting much but maybe just something around cash guidance and confirmation they will operate well within adjusted covenants. Whilst an asset sale would be nice, they have no real position of strength to leverage best value. Almost want those to come next year or at least when the weak roots of recovery become a little stronger.

See the joint broker thing happen a fair bit. Never really understand the reasoning. Certainly think JPM behave against UK stocks in the most part. Someone certainly selling into it. Usually you only manage to get fixed price purchases for a few thousand at a time. Getting mid point on over 5K now.

Not familiar with TSTL but saw they had a good set of results. Just don't do a great deal on AIM stocks. Gains are great when it works but also had some overnight complete losses over the years too.

I've been back at FCH again in the low 120s. Had a stupid spike a week or so ago on decent but expected news and pulled back again.

As for here, RSI went a bit high on the climb to high 70s. Now pulled back down to low/mid 30's again. Expect a little while longer down at these levels but hopefully in a week or two it will have another climb. Personally I'm not expecting any positive news on the next trading statement, it's a real long haul here into next year. They just need to manage the cash ok for the time being. My only slither of short term 'hope' is that there might be recovery after the coupon payment, as those shorting the ticker and holding the bonds might close ... but then why would they not wait for another 4/5% in April.

Failed them!

Probably just feel JP Morgan has f

Well thank you JP Morgan I suppose. 64p seem like a somewhat adverse reaction to a 112p target.

Don't see them doing it, but if they were, I think they just need to sort out UK bus. I think the Western business sits as guarantor/collatoral to debt so a bit of admin/clean up still needed. Then all nicely packaged to shift the lot to Madrid. Bank debt would be simple to transfer but the bonds may require early settlement or similar (maybe not the for the Euro bond, not sure). Cosmens must be at or near the 30% between what they hold via entities. However, not sure if that is the view taken on the compulsory requirement to make an offer.

Believe the offer would still need to be 90p or higher and that requirement drops to more like 75p in the new year.

Howdie WT. Just bought a few of EVOK. Reporting on the 28th and been quite well kippered by news feeds. Higher risk I know but at the MCAP level they are at, even factoring in the debt, they have been clobbered badly. Just another 'no divi, big debt' problem being played.

OCDO was nice to us again ... hoping for the drop back again now!

Being transparent, I am here to build on the drop and sell out in the 30s and maybe leave profit in there to see if it goes beyond. It's just a trade as opposed to a long term hold. I think Germany is not worth having and UK is questionable. I think UK based team and management are just holding on to jobs when actually the whole business could run out of Madrid more effectively and loose the burden of high cost UK senior managers which have failed the business. Without Germany and UK sucking the life out of things, ALSA alone could build to a market value of 3-4bn at least. The North African opportunities are significant and I am sure they could do more in Portugal as well.

@Jedclampit - None at all if they maintain payment on the coupon. In fact the opportunity to buyback in the high 30s is crazy if only they had the cash to do so.

The bond is due to the auditor issue. Most funds have internal or regulatory structures which require a minimum level of governance and it really is porr management not to have sorted this. Germany is clearly the basketcase creating difficulty in appointment.

If you were a competitor, a great time to buy the bonds if you have the cash! Payment on the coupon if Feb I believe ... relatively easy money.

Settling debt for pennies in the pound is always a good strategy. Good luck raising in the future though.

With no auditors in place, maybe some funds have rules that simply don't allow their money to be invested with companies which do not have them in situ. Might be a decent reason behind the bonds drop. Imagine funds would have already reduced in the ticker on knowledge the news would be coming.

Fact the resignation was not accompanied by new auditor announcement reflects badly on management. There's zero positive news flow from this company .... yet at this level I'm still having another swing at it. Maybe they can pluck something out of nothing and actually produce something decent in November when they should be doing the Q3 update.

Howdie! Usually ignore but that OCDO stuff was beyond ridiculous...gets harder to ignore that stuff when the world at large has leaders equally capable of the same behaviour. It's like a dumbing down of the human race! As for the share ... same page. Sold out (keeping profit in shares) ... if I can build a few K which owe me nothing I'll have the punt on them going £3 plus again. Now it's the wait for them to go sub 220 for the time being. Maybe next week.

Here I have no idea. Like I said I sold a few and now feel like I should have bought them back yesterday. Thing is, if I did that it's like the magic touch that sends them back into the 60's. I hope the next update shows some substance which supports my longer term view here. I've had a few nice ones but I've not had a real multi winner since FCH. No idea where my average is with SYNT because of all the in/outs ... my guess would be around 80-85 at worst. 240p here does not seem too much to ask and that could well come next year.

Have bought quite a lot of MCG on a punt. See them going low to mid 30's at some point again in the near future. Just being well tested but shorts reducing at the levels they are at.

Wow, you lot really are the worst of us. Got anything marginally above primary education level of discourse? I pity you as clearly the education system failed you and you're trapped in some kind of intellectual poverty cycle. READ MORE, LEARN MORE and above all establish a basic capability to assert cohesive arguments to support your positions. At the moment, none of you should be let near a keyboard!

Also, I still think November is the time for SYNT when the payment on bonds is closed. Also depends on wider sentiment about the industry as a whole, which remains pretty negative still.

So my take on OCDO is it could jump either way at any given time. What I bought in the low 220s I sold mid 230's leaving profit in there. Was thinking it might go low 220s this morning but I think the shorts/algos are testing. It's not an LTH for me ... purely trading and keeping an eye on shrts/holdings and RSI.

DARK was really weird because you had that real muppet short jump in with that real botch job of claims which were easily debunked.

Bought quite a bit of MCG today as that auditor news is old and was an algo trigger gone bad I reckon. Hopefully back over 30 next week and hope it will slowly climb to 34. Again not an LTH for me, pure trade as I still consider it a house of cards held up by ALSA.

Reaction to that news just created opportunity for another run on this. Hopefully back over 34p or so in a month or two. Still don't think this is a keeper though.

Are they giving the trading update on retail tomorrow?

Howdey WT. WPS/EWG SP growth has been frustratingly slow. I honestly thought it would be close to double what it was by now.

JD. is looking interesting again so will have another run at that if it goes sub 85.