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Not long til the trading update tho!

Dave, I don't think its anything to worry about, just general macroeconomic jitters.

****ney rebel has mentioned the #saga breakout on twitter

Zccax, can you elaborate / explain please?

Bert, I agree this definitely feels different. The fundamentals are in place now, and the uptrend is gradual and based on positive outlook rather than a sudden spike after a trading update.

I think the remaining risk imho is that there is another big slug of goodwill writedown, if the Ageas implementation doesn't go to plan. But fingers crossed that the writedowns are all done now, kitchen-sinked last year.

Wow that sounds very very painful!

Well at least there is hope now to recoup at least some of that loss.

A slow but clear upward trend emerging, great to see :)

Any idea what's going on here then? Good news leaking?

Well its a hilariously Saga-paced breakout but it does seem to be edging above 140p at long last!

Here we go......?

I know very little about technicals but this is on the verge of a breakout, right?

Question to you all...

What percentage of your portfolio is in Saga?

Mine is about 20%, and I might increase as and when it gains momentum.

Zccax - "Why even bother selling? this will be a cash machine at that point."

Yes, I agree, at some point soon-ish it will be glorious! But not necessarily yet (although I'd be delighted if it did breakout now..)

I've been waiting a year already, and others have been waiting several years. We've seen so many false dawns already! So I'm just trying to make a bit of extra cash while I wait.

Don't forget about momentum, too! If and when this goes to £6 the momentum chasers will surely take it up to £8, even if it doesn't stay there for long...

MrBigShot - the key point is that the fundamentals of their recovery are all there now, so we know that - in the absence of a black swan event - the Saga share price will be much higher than it is now in a few years time.

But how and when the share price goes up is anyone's guess, and for now it does seem to just be bouncing around, so why not make a bit of extra hay with range trading in the meantime given that we're in the lovely position of knowing that there's very little downside risk. By the way I'm only dipping my toe into range trading, 95% of my investment is still there for the long term play. DYOR!

Whilst we're waiting for the giant to fully wake up, I'm range trading between 130p and 140p now, given it seems to just be bouncing between those levels. Is anyone else doing similar?

Is it just me or does the SP movement today above 140p seem significant?

Re. Risk from a ship sinking - tiny risk, a small fraction of a percent, and if it did happen most likely it would be salvageable. If it did fully sink, the insurance payout would allow them to pay down a huge chunk if debt so weirdly might work in their favour, once the initial shock was out the way!

Alnwick - I was quoting the IC article for info. Don't worry, I don't agree with it, I think they're missing a massive trick with their tepid Hold rating!

"How does it make sense that there are more short positions?"

I can only guess that they're looking at a short-medium term bet that, once again, the SP will lose momentum over the next few months as investors get bored with the lack of any immediate jam.... which isn't beyond imagination. So maybe just a case of them looking at the SP on a different timescale to long term investors.