15225 replies to this topic

[DayTraderDad]

For me the share price going to drop to the R1.68 - R1.72 or there about on the 7th May.

The real recovery will only start after the final restructure is concluded.

There still has to come announcements of further sales in Pepkor SA and Europe only after that will the share rise.

[LarryK]

Yeah true there is always the risk that something might pop up again. But I'm sure they have looked at every little aspect and that all the experts (Don't even know how many are on board lol) ensured that everything is booked according to laws and regulations. One thing will be sure if Steinhoff makes it through this crisis the books will be the cleanest out there on the JSE in my opinion. They have turned around every single element in that company and management has a plan (Plan was made by experts) which if they follow Steinhoff will be saved. The next two months will be crucial to the share price. However, one should look at this long term.
They key elements why I'm "still" positive at the moment are:
- Finance is secured (Even though they pay 10% interest p.a. I'm sure when the business is stable again they will get better credit terms and they can refinance these loans at much better interest rates.
- Book value determined by PwC was around 58 cents (Currently trading at 12 cents)
- Generating revenue of 18 billion €
- Stores remained opened and they have expanded
- No fire sales occurred of investments such as selling Pepkor etc.
- They have a pool of very experienced experts in their team.
- Christo Wiese is buying shares
- All claims against the company have not made any progress yet. Christo Wiese said he will drop the claim if he sees company goes into the right direction. Shareholder claims where rejected in Netherlands. Steinhoff recently asked everyone to quantify their claims. This will obviously be used to start counterclaims against MJ auditors etc.

These are just a few points I think which are critical for survival. However the risk that the company can go bust is still there. Only time will tell.

Thanks Andi
I personally don’t think the share will go bust. However, all the items you listed are already factored into share price and that’s my worry. I expected the share to have been better priced by now.
Let’s hope Polly’s TA is right and we see some better volumes and positive momentum.

Thanks for the TA Polly!

[DayTraderDad]

Great post andy222!! No doubt you going to get shot down in flames!!!

[andi222]

yeah with all those sens out recently , shows most of things getting to be in order...BUT im sure in this mess something or the other is going to crop up...especially the contingent liabilities which may hold it back a little longer...Think Deloittes because they in spotlight gna make sure all 100% before issuing....just cant take the risk again!!

 

and in this mess , only person who will know what the heck he did was MJ and he aint communicating with anybody...Will auditors be prepared to sign off with some assumptions??

 

Yeah true there is always the risk that something might pop up again. But I'm sure they have looked at every little aspect and that all the experts (Don't even know how many are on board lol) ensured that everything is booked according to laws and regulations. One thing will be sure if Steinhoff makes it through this crisis the books will be the cleanest out there on the JSE in my opinion. They have turned around every single element in that company and management has a plan (Plan was made by experts) which if they follow Steinhoff will be saved. The next two months will be crucial to the share price. However, one should look at this long term. 

They key elements why I'm "still" positive at the moment are:

- Finance is secured (Even though they pay 10% interest p.a. I'm sure when the business is stable again they will get better credit terms and they can refinance these loans at much better interest rates.

- Book value determined by PwC was around 58 cents (Currently trading at 12 cents)

- Generating revenue of 18 billion €

- Stores remained opened and they have expanded 

- No fire sales occurred of investments such as selling Pepkor etc.

- They have a pool of very experienced experts in their team.

- Christo Wiese is buying shares 

- All claims against the company have not made any progress yet. Christo Wiese said he will drop the claim if he sees company goes into the right direction. Shareholder claims where rejected in Netherlands. Steinhoff recently asked everyone to quantify their claims. This will obviously be used to start counterclaims against MJ auditors etc.

 

These are just a few points I think which are critical for survival. However the risk that the company can go bust is still there. Only time will tell.

[Polly]

6. Milo I miss your technical analysis

L juts looked at the charts..

 

Daily 200ema is +-4.12  

 

thats the major resistance to overcome to become bullish...sits in perfectly with my R4.00/4.50 shorting level...

 

on 30 min its building up some steam  on this short term...but i reckon R2.00 will be the short term resistance...

 

support around 1.65 level...upward sloping trendline on daily...

[Polly]

They had more than 18 month to fix the financials and to be in compliance with all applicable frameworks and standards. I'm pretty sure they will issue this one on time and that it will be an unmodified audit opinion. If we think about it it for a second, They have done everything to ensure their finance is secured. Thus major portion of the loans are long-term. This again is crucial to ensure that the company is a going concern. Other then that I'm pretty sure they have adjusted all other items which Deloitte and PwC have found. Management will make all adjustments necessary to get an unmodified opinion in my view. One week to go till we find out.

yeah with all those sens out recently , shows most of things getting to be in order...BUT im sure in this mess something or the other is going to crop up...especially the contingent liabilities which may hold it back a little longer...Think Deloittes because they in spotlight gna make sure all 100% before issuing....just cant take the risk again!!

 

and in this mess , only person who will know what the heck he did was MJ and he aint communicating with anybody...Will auditors be prepared to sign off with some assumptions??

[andi222]

big question now is will management meet the deadline? Even if they do , will Deloitte meet their deadline...Even if they do , what kind of audit opinion is the joker in the pack,,,That will make or break this share imo...

 

They had more than 18 month to fix the financials and to be in compliance with all applicable frameworks and standards. I'm pretty sure they will issue this one on time and that it will be an unmodified audit opinion. If we think about it it for a second, They have done everything to ensure their finance is secured. Thus major portion of the loans are long-term. This again is crucial to ensure that the company is a going concern. Other then that I'm pretty sure they have adjusted all other items which Deloitte and PwC have found. Management will make all adjustments necessary to get an unmodified opinion in my view. One week to go till we find out.

[DayTraderDad]

i give up on you....last post that i reply to you....enough is enough is enough.....surely u cant be that thick man....
 
It took someone outside the 3 of us to tell you hands off...but u still continue!!

I never listen to you because think you have limited knowledge with you Ponzi Scheme and all other stupid comments. Just find you have no right to insult people just how you like it.

[DayTraderDad]

make that the 5th whiner...

Go back read your posts and you will see the hatred coming through all the time. Just cannot understand is why continuing running a share down why not just leave!!! but its your condition that makes you keep on attacking the share!!

[Polly]

No you were the one when you called me a fraud because I am a Day Trader. I gonor you the only reason stall talk is because there is something wrong with you be cause you insult people all the time. Captain email was not insulting and every time you and Lionel come back with insults.

Its a fact a person that wants to be rights has a condition get help!!!

i give up on you....last post that i reply to you....enough is enough is enough.....surely u cant be that thick man....

 

It took someone outside the 3 of us to tell you hands off...but u still continue!!

Edited by Polly, 29 April 2019 - 02:15 PM.

[Lionelza1]

question is....

 

did it go up on a bit of inside info , or shorters now feeling time to close and take profits as D day is coming or pure momentum of world markets up..

 

Id go for short covering to be safe and take profits off table...but could still be for any of the other 2 as well...

 

eish thats a good question!.....i was thinking along the lines of inside info.....did not consider the shorters taking profits hey

 

thanks for the insight

Edited by Lionelza1, 29 April 2019 - 02:15 PM.

[DayTraderDad]

Dad ill keep it simple and to the point..
 
You were the first one to start destroying this thread....acting like a immature 10 year old....and nothings changed,,,,still the whiner needing a nappy change!!!
 
Go see today....your first 2 posts...and then next 2... grow up for heavens sake...or start a new forum...from moment markets open , you sit on this thread only with same whining...the whole bloody day....just dont post for a week and see what happens here....You attack every post made by Tom , Lionel and myself...yes every post!! seems you being paid for this.....

No you were the one when you called me a fraud because I am a Day Trader. I gonor you the only reason stall talk is because there is something wrong with you be cause you insult people all the time. Captain email was not insulting and every time you and Lionel come back with insults.

Its a fact a person that wants to be rights has a condition get help!!!

[Polly]

Further its impossible to be objective at posting when all a person sees is hatred and negativity because surely out of all negative out of Steinhoff surely there must be something positive!!!!

make that the 5th whiner...

[Polly]

and what i have noticed is that Mr Market getting less excited in buying the rumour.....still on the up tho, hoping she breaks R2 by friday....have a feeling that up we saw last wed/thursday that pushed this share into the R1.80 + will sell off before next tuesday (noticeable trend)....assuming it breaks over R2

 

oh well....just a week to go then

question is....

 

did it go up on a bit of inside info , or shorters now feeling time to close and take profits as D day is coming or pure momentum of world markets up..

 

Id go for short covering to be safe and take profits off table...but could still be for any of the other 2 as well...

[Polly]

The problem I see here is people wanting to force their opinions daily negative messages with little/no information just wild guesses.
So tired of people running management down yet have absolutely no clue what is happening behind the seen.
I have now resorted to direct communication with the people that I believe have something interesting to share and ignore Trolls which have no value.
The continues attacks is destroying this forum and just take a good look of the quality of posts or information.
In fact TOM has posted much more information than Polly has ever done.

Dad ill keep it simple and to the point..

 

You were the first one to start destroying this thread....acting like a immature 10 year old....and nothings changed,,,,still the whiner needing a nappy change!!!

 

Go see today....your first 2 posts...and then next 2... grow up for heavens sake...or start a new forum...from moment markets open , you sit on this thread only with same whining...the whole bloody day....just dont post for a week and see what happens here....You attack every post made by Tom , Lionel and myself...yes every post!! seems you being paid for this.....

[Lionelza1]

and what i have noticed is that Mr Market getting less excited in buying the rumour.....still on the up tho, hoping she breaks R2 by friday....have a feeling that up we saw last wed/thursday that pushed this share into the R1.80 + will sell off before next tuesday (noticeable trend)....assuming it breaks over R2

 

oh well....just a week to go then

[DayTraderDad]

Further its impossible to be objective at posting when all a person sees is hatred and negativity because surely out of all negative out of Steinhoff surely there must be something positive!!!!

[DayTraderDad]

Ps I welcome criticism but can we keep it to the point.
These long winded, complicated responses are tiring

Keep it real homies

The problem I see here is people wanting to force their opinions daily negative messages with little/no information just wild guesses.
So tired of people running management down yet have absolutely no clue what is happening behind the seen.
I have now resorted to direct communication with the people that I believe have something interesting to share and ignore Trolls which have no value.
The continues attacks is destroying this forum and just take a good look of the quality of posts or information.
In fact TOM has posted much more information than Polly has ever done.

[Polly]

big question now is will management meet the deadline? Even if they do , will Deloitte meet their deadline...Even if they do , what kind of audit opinion is the joker in the pack,,,That will make or break this share imo...

[Polly]

1. Polly I appreciate your comments. On all groups. It might not be popular but you stick to your opinion.
2. Dtd - I appreciate your and captains info too. I do however feel you are way to critical of any negative comments on here.
3. Polly has a trading opinion/plan which he has repeatedly mentioned (short from R4.50 go long from R5.00) so he is not just being negative.
4. We need to give everyone the opportunity to share their opinion. Not just the ones that shout loudest. And dtd/captain you are also included in this.
5. Once again, bottom line, the share is at R1,92 and management has consistently moved the goal post. While I am holding for now I am not certain about how long more I want to be financially exposed to this risky share. As a senior executive I respect the new management’s efforts but they have broken trust with the shareholders already due to constant delays and they clearly lack the trust of CW otherwise he would not have initiated legal action.
6. Milo I miss your technical analysis

 

thanks Larry...appreciated...At least my posts which consumes so much of my time not in vain...

 

Your comment  ' Polly has a trading opinion/plan which he has repeatedly mentioned (short from R4.50 go long from R5.00) so he is not just being negative."

 

Some cant see this here..accuse me of hating this share...You only hate a share if you lose big money on it...where it basically folds up your account...Thats where hate comes in.. I made big money on this share shorting from R5.00 to R2.50 on cds...call was made here on this thread live...So how do u hate a share that takes your trading account north handsomely? 

 

A trader has to have a plan...hence i will also go long if it breaks R5.00...All options open...There is no certainty n trading. I made a call of big fat zero...No guarantee on that...Its juts a view...and i trade that view accordingly..But who knows tomorrow a sens issued that CW making an offer for R6.00 per share....U need to be ready for that as a trader...Retail will always get the news last....Thats when technical analysis comes in with clever money and dumb money scenario...With volume if price suddenly goes up , there something out there thats causing it...follow the crowd!!

Edited by Polly, 29 April 2019 - 01:52 PM.