Member Info for steveknowsnothin

RSI is back down in the mid range on a 5 min window, think it's just going to play around where it's at for the next couple of hours and finish up a couple of pence higher.

@ShareExpert just do it, did the same at 304.28 & 307.27 yesterday and it's all fine again today.

I still think there is a great case for Boohoo to use their own factory for immediate response to demand and short runs, then use Egypt / Morocco for large runs and extra capacity. Which would mean they could always be running their own factory at 100% and just use the third parties for variable demand.

@Luke6032 yes, as you are still going to see a very healthy rise, that most investors would love to have in a year, in the next 3 weeks.

@ShareExpert don't think it's going to happen, looking like it's going to do the usual and consolidate around 306 to 307 and settle at 310 for the end of day.

@gggg21 ha ha, one and the same, got a warning on the board last time I posted a link to that website.

Can't say where this came from as got a warning last time I did,

Boohoo (LON:BOO)
I had an interesting chat with Boohoo (LON:BOO) last night. My thoughts here had come to their attention (yesterday's SCVR I assume), so we discussed the current situation. The key points were;

BOO adamant that it has done nothing wrong

Directors/family are exasperated & upset by their reputations being besmirched, and false allegations being thrown around (latest one is they've been falsely accused of people trafficking!) in newspapers & social media

Don't see it as their role to police the entire third party supply chain. Govts bring in minimum wage rules, so Govt's job to ensure compliance across all industries, including fashion sector. Suppliers are third parties, not owned or controlled by BOO. What about Jalal Kamani then? He left BOO some time ago, set up his own business, and is completely separate. Not a supplier. His company just re-packaged some BOO gear made in Morocco - see correction in The Times

If any suppliers are proven to be abusing rules, then they will be dropped

BOO has always been completely open about using UK suppliers. If they had anything to hide, then they wouldn't have told anyone!

Why do you use UK suppliers, when labour is so much cheaper abroad? Convenience, and it's fast. But UK production is relatively expensive, as labour cost so much higher

Competitors are buying garments made in Bangladesh where labour costs 50p per hour - where is the outrage against that?!

Speed to market - is an advantage of UK production. My article was right, in that production in Turkey or N.Africa only takes 5 days overland. However, another option is air freight from the Far East - this is only £1/kilo, so about 50p per garment. This works out cheaper, and almost as quick, as UK production. Hence if more overseas sourcing is done, gross margins will go up, not down! I was right about this, and lots of analysts/commentators got this completely wrong. This blows apart the bear case, in my view.

Is it a family firm still? Very much so. Family & staff who've been with them for the long term work 20 hours per day, flat out, it's that passion & love for the business that has made it so successful. "We've created the best fashion business on the planet", and growth continuing - got 9 brands now, that could be 18 in a few years. No limit to the number of brands that could be added, providing it can all be managed

There you have it, a robust defence of the company. I remain firmly of the view that this supply chain publicity has presented us with a lovely buying opportunity, for one of (maybe the) best growth companies on the UK market.

@istock that's the point, this is me doing research. I am asking you guys what I am seeing and just getting defensive and petty responses.

@Judge-mental thats the point, I know nothing.

@istock not acting like a hero, trying to have a sensible conversation and trying to understand the rationale why I am wrong....

@faze1 because his buys don't counter JB's sells. They are trying to show confidence in themselves, so that hey can win the vote. End result is JB walks away with better priced sells and you guys loose 3 to 4p per share in the next week.

I really don't care how you judge the seriousness of my trading ability or whether I am on this board or not.

I know the volume is low on Amigo, but to think that I could swing sentiment analysis or even the SP based on the holding on this board shows how much of a dream world you are in.

I am not short ATM, have not seen one decent counter argument to what I said, just fan boys banging a drum.

@faze1 can you actually read or do you just read what you want to see. I had a short last week, tbh I will probably go long just before the vote.

@FigTreeHarry looks like someone just bought 250k of stocks

@seamus12 because short or long, dosent make the assumptions less valid. Share board, not fan club.

If you know there is a sell order in the background and it is going to drop the same every day, then why hold through it to see a reduction in your wealth. Who's the muppet?

@faze1 did have a short position last week. But now more bemusement for me.

Sell volume is minimal but every sell drives the SP significantly lower. Look at the volume that just drove the SP from 12.9 to 12.4

6% of shares with less people to buy them, means share price goes down, you are literally seeing it happening on the chart.

I just don't get it.

The SP is obviously going to continue to drop significantly with such a large reduction in holding and such small volume. You guys are basically helping JB sell his shares at the best possible price. Why wouldn't you sell your holdings and just pick them up again before the vote, this is obviously going south of 10p for the vote....