RE: Being shorted from now on25 Mar 2021 10:51
On the contrary Uncle_Doug I am back in Boo around £3.20 as I DO see an upside towards £4.00, but will probably trade out in the lead up to the results. Sorry if you thought I was talking taking rubbish, but despite those resistance points being broken, since Marshall Wace opened a short it has started to take a turn. This doesnt mean that you wont get the ODD green day, but the overall trend will be down or flat until the ammo runs out or some news really allows the volume of buying to overpower the sells. I'm just saying it as I have seen it in the last few years. It can get very ugly. Hope not!!
I think Boo are at a stage where they have alot to contend with at once; getting the new acquisitions up to speed, the ESG issues, speculation about whether coming out of lockdown will be good or bad for boo, press sentiment, funds selling out etc etc BUT when / if they over come these hurdles this will rise quickly (as I have seen before) and its better to be in than out as you really can miss the boat.
I was going to wait for it to go lower, but you will never invest at the bottom and as its part of my SIPP I can hold for as long as I need :)
I wasn't particularly happy with the Burtons purchase mind you. One of Boo's USPs was its trendy, down with the kids, fast turn around, see it on the catwalk wear it in the high street next day strategy, where as I don't think the Burtons Market fits the portfolio very well. Who REALLY buys from Burtons?? They appeal neither to the fashion conscious or the cost conscious.
Still, they have some cash left. Wonder if French Connection is on the radar. Not up to speed on where they are tbh.