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Cumbria, well I did not get my orders cancelled but when the price dropped today they all seem to be being ignored although two dropped in late on, and at lower levels than they were set up for.
Who knows what these dealers are up to, but cheaper is good with me.
Its 20% of the company now which is what is was before + £7m, compared to 26% of what it was before, so you have less of more, but with increased firepower going forward. Doesn't mean a lot really.
No, just got to move over to another account and buy in larger amounts. My 3% target holding was the minimum I want to have for the longer term, but if the price remains low, ie around 15p I will just keep going unless there is some bad news.
I have added about 1% over the last few days as I already had around 1% from the 7p and 20p days, not so good those 20p days! There are a bunch of other people adding here, but have to admit I am nervous about buying over the 18p range before we get some news. Refi territory! If Lookers, Pendragon or TED ever get round to finalising their bids so I can get out, no doubt I will ignore my thoughts and just dump it in here whatever the price and go for a big one.
Yes, on about 2% now. Got told off today by my dealer for buying in multiple small amounts, manipulating markets apparently, although it is not just me buying 51k's right now, so looks like I will need to move back to my old account and buy larger chunks going forward. I had a couple of million buys lined up if the price dropped as well so they will probably be deleting these.
None of this matters though, as the price can do what it wants for now, just need the decent holding for when something material happens which should not be far away, so just got to sit tight until that happens. IMO.
Shorting is dangerous as your loss can be anything whereas when buying all you can loose is what you put in. So you have to be bold to to short and I have done it a few times, Lemonade for example valued at $15b or whatever it was, was a fantastic short, thanks Motley Fool for making it share of the month twice in a row! but really should only be done with poor companies. Lemonade isn't poor but just should have been valued at 1 or 2b not 15b. Much better on TERN IMO is buy twice as much as you want at 12 and sell half at 15. Most of my trading is just to win £1 or £2k so small wins but frequent, and almost always going up not shorting. If TERN then went down a bit just sit tight until it goes back up, which is inevitable due to its various investments and rumours which cause small spikes every now and again.
Shorting does have value sometimes in calling out the bad / fraudulent operators, but far too advanced for me as you don't know the fire power of either side and who blinks first.
Hey, out of interest when the large seller appeared on Friday afternoon to dampen the price, all that was needed to shoot this straight up to 17p was a purchase of 750k, as I was checking how much was left at around the 15p mark.
I did think about doing this for a minute or two as that could have well caused some forced buyers and cause a spike leading to some really good day trading. However paying 17 for what you can probably pick up at 15 or below next week got the better of me as nothing may have happened.
I definitely would not want to be short on this when the price can be moved so easily, and when the real bang happens it will be very bad day at the office for some people, if there really are some major shorts out there. I guess there must be as you have some negative people posting all day long on ADVFN, so what would be the point otherwise.
Shakeyerbooty, it wont be me selling at 15p, as I have not hit my target holding yet. I will trade a bit if it pops and I still have a few CFD's to sell sometime but am not trading and will just be accumulating for now. Once loaded I will do some more trading as that pays the bills and is generally easy pickings.
I don't know how this works, but if I buy 500k CFD's I do not see a 500k buy in the market to offset this, and it is not that hard to move a small stock like TERN a couple of pence in the market to win the CFD bets, especially when it is at the bottom of its trading range.
I don't know anything about a 51 society, and the buyers I know are just city people that punt a lot on various stocks, and generally do quite well at it.
Plus, whoever is correct doesn't really matter other than if you are correct I might not have all my investment in, as something will happen one way or the other in the end and none of us know when. I am sure we will both have enough in though not to worry about it too much.
A stealth buy out might be the wrong word as the word will be out on the street and the price of TERN will go up, but not up ten fold. Look at Lookers, Cinch bought 20%, wants it all, and they paid over 100p for the 20% but the price is now back to the low 70's. Pendragon has Hedin and Telios (are they in cahoots. who knows) at around 40% and then TED has Toscafund topping up with CFD's etc to 29%. I doubt all these companies have such large shareholdings just because they like the investment so much.
So to buy DA, you need on side TERN, Alsop Louie and the DA management, so you would be talking to all of them, and however much money you have buying a chunk of TERN at basically basement prices, will not only save you money but force the hand of TERN as you will be one of their largest investors so can pull some strings to get the deal done.
I actually think the DA management will have more of a say in this than you think as there is no point buying anything without management buy in, at least until after integration,so let's hope they are highly incentivised.
Antelope, I think it will drift back down as well, and I know there are a few million buys ready for when it does as there is no point chasing it up in the short term. I am surprised how aggressive it was today as I am sure sellers will appear so you should be able to accumulate a lot of shares at cheaper levels if you chill out. I also know the fire power is enormous and will not run out, irrespective of what Bobsocks thinks. They could buy the whole company if they wanted to.
Personally I think there is no rush because if DA was really worth £500m or whatever, wouldn't the prospective buyer load up on TERN, at least on the quiet to just under 30%, and own around 15% of DA at under a £50m valuation. Hence I think nothing really valuable is in the pipe right now as you always have leaks, so my plan is to accumulate at these low prices and have a very meaningful share when the time is right, whenever that may be. None of the current buyers I know are looking to acquire any of TERN's companies or TERN itself, so we should see much more meaningful action when something really is in the pipeline. We may also have another refi if nothing happens this year which will give a great opportunity to load up very cheaply, so don't put all your eggs in with this possibility out there. TERN management do have a poor track record for shareholders, but I think have some decent investments so is undervalued and should do well in the long run.
I look at TED and Pendragon, both have stalking horses with almost a 30% shareholding which is what TERN requires, so for a short term punt I am on them, albeit if the deals fail I will loose. Lookers is also probably a good punt.
So all in all who really knows, but IMO TERN is a good long term trade.
Antelope, it is not all me doing the 51k trades. I did mention a couple of months ago I knew some people were doing some proper DD on TERN and they have now started to get in on the basis of there should be some good news over the next year or so.
Problem is the price rises too fast with just a few shares purchased so there are a lot of stacked orders if the price drops down again as there is no point chasing it higher for a few shares in the short term, when it is a longer term play.
I do think you might get a couple of holdings popping over the threashold though in the next few weeks, especially if the price drops.
I've been doing some buying, not always 51k though, and I am going to overtake Sweepy and get over the 3% ownership level. Not sure it will stick down at the 13p level though, but hope so, and will have to trade a bit if it bounces.