15225 replies to this topic

[Milo]

Te chart is making inverted head and shoulder formations all the way up.  What its busy doing now is pulling back to the previous neckline or support and then if it fails to break the support that look strong it will continue going up to complete an inverted right shoulder at R 2.29 the next level.

[LarryK]

Thanks Milo.

[Investment novice]

I think this is a penny stock with lots of interest from Germany where this is extremely cheap and where punters think this can be worth more after restructuring.. The pump can go on for the next two weeks and could see another 50% gain... And with further news even more... Until sell off... Would be interesting indeed.

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[DayTraderDad]

https://www.sharenet...2169256461da1c0

[Dell]

should be interesting to see if this happens in the coming weeks - without any additional info that is...

[Milo]

@milo, what’s the play here?

 

 

Ha ha I am just following the chart. If it reaches R2.29 then an inverted right shoulder is complete.  Then it can start to break through to next level (R2.54)

[LarryK]

@milo, what’s the play here?

[DayTraderDad]

Tom. I don't get the majority of your posts.

 

Haha I don't get it either he must have a big supply of green beer!!

[leo]

Tom. I don't get the majority of your posts.

[Tom]

The following is an extract about "South African" lastest trade update:

---------------------------------------------------

"

The trade balance registered a deficit of R13.1 billion in January compared to a surplus of R16.7 billion in December last year. 

 

Exports plunged 13.3% m/m led by a notable downturn in vehicles and transport equipment. 

 

Imports surged 18.9% m/m as businesses likely replenished inventory levels for the coming year. We expect the trade balance to register a deficit in 2019 as global growth slows, particularly in China, and adversely affects export volume growth. 

 

Private sector credit climbed to 6.5% y/y in January from 5.1% the previous month supported by an acceleration in general loans and advances in both households and corporations.

"

---------------------------------------------------

 

I also noted here that the "Private sector credit" is between 5.1 to 6.5 percent, while Steinhoff credit is currently standing at about more than 55% of the remaining estimated assets they currently estimate to have, so that's 10 times more than the average private sector credit in South Africa, and Steinhoff still face more assets' impairments because of all the coming loans' service, court cases expenses and possible charges, and regulatories' fines.

Edited by Tom, 01 March 2019 - 11:43 AM.

[Milo]

busy making a perfect right shoulder

[DayTraderDad]

Steinhoff were and still are selling goods at huge discount, which resulted in a small 3% comparable extra revenue (just about 123 million euros), on expense of the profit margin the profit is either very low or at loss, just for the sack of raising some liquidity (also to pay the management fat salaries), all in all they need a profit margin to pay the huge 10% interest rate on the loans, something that's not either possibly nor reasonably achievable in their retails industry.

 

The defrauded share holders must hurry up with their cases against Steinhoff, so they hopefully can get some compensation for their huge losses, before the creditors suck every drop of money and asset from Steinhoff debt for equity for the creditors, probable speedy asst disposals or probable sequestration.

Tom I have been going to Europe regularly from 1982 and everytime most shops have sales on all the time.

[DayTraderDad]

But i could also be wrong

Tradegate so far today just the trades above 80000 shares:

148,520 0.1305

156,000 0.131

90,000 0.129

200,000 0.1285

179,900 0.1284

797,450 0.128

155,000 0.1279

500,000 0.1289

155,000 0.1291

227,500 0.13

140,000 0.1299

85,000        0.1271

[leo]

But i could also be wrong

[leo]

Why? I thought the results were okay, identified the fraud, got leniency from creditors and now just have to focus on building it up from the ground again.

Driven by sentiment. No fundamentals.

Look at the volumes thus far compared to the last few days.

Classic buy the rumour sell the fact

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[DayTraderDad]

This share is going to get hammered today.

Yes Leo are you going short today?

 

Interesting stats from yesterdays JSE trades:

80 trades of 35000 shares at average price 205 cts

71 trades of 20000 shares at average price 206 cts

27 trades of 10000 shares at average price 204 cts

 

This does not sound like small people trading. What do you think? Is it the big guns commencing to mop up shares?

[DayTraderDad]

I read a German article that shares the same view as you do on the restructuring. Growth/Profit will come from Pepco mainly, and the units that they keep. Furniture in EU is loss making in general.

 

Their main problem/worry being the Seifert court case blocking any transactions from happening.

I think one of the findings on the PwC ( which I like they taking they time to find out everything) is going to be the deals Seifert was involved. It is going to be interesting. Insert from the Q1 gives a good indication wander what was said in the correspondence.

"On 17 January 2019, LSW issued an application in

Austria for the opening of insolvency proceedings

over the assets of SEAG. Following correspondence

on this issue between the Company and LSW, the

application was subsequently withdrawn by LSW

and, as a result, the Austrian court has dismissed the

application."

[DayTraderDad]

Steinhoff were and still are selling goods at huge discount, which resulted in a small 3% comparable extra revenue (just about 123 million euros), on expense of the profit margin the profit is either very low or at loss, just for the sack of raising some liquidity (also to pay the management fat salaries), all in all they need a profit margin to pay the huge 10% interest rate on the loans, something that's not either possibly nor reasonably achievable in their retails industry.

 

The defrauded share holders must hurry up with their cases against Steinhoff, so they hopefully can get some compensation for their huge losses, before the creditors suck every drop of money and asset from Steinhoff debt for equity for the creditors, probable speedy asst disposals or probable sequestration.

Tom if you know so much why are you still investing in SNH. Try EOH or Group 5.

[Tom]

Steinhoff were and still are selling goods at huge discount, which resulted in a small 3% comparable extra revenue (just about 123 million euros), on expense of the profit margin the profit is either very low or at loss, just for the sack of raising some liquidity (also to pay the management fat salaries), all in all they need a profit margin to pay the huge 10% interest rate on the loans, something that's not either possibly nor reasonably achievable in their retails industry.

 

The defrauded share holders must hurry up with their cases against Steinhoff, so they hopefully can get some compensation for their huge losses, before the creditors suck every drop of money and asset from Steinhoff debt for equity for the creditors, probable speedy asst disposals or probable sequestration.

Edited by Tom, 01 March 2019 - 10:22 AM.

[Bubble]

If this happens will be the last piece of the puzzle then SNH healthy again.

I read a German article that shares the same view as you do on the restructuring. Growth/Profit will come from Pepco mainly, and the units that they keep. Furniture in EU is loss making in general.

 

Their main problem/worry being the Seifert court case blocking any transactions from happening.