15225 replies to this topic

[Investment novice]

Some nice end of day trade volumes

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[JK001]

Yes, and I also (if you read a previous comment of mine) say that it's ( safer ) for Steinhoff to sell assets, however restructuring and cost cutting is also good.

Steinhoff will sell assets that is not part of the core business and that does not provide adequate income to pay off debt.  Dad explained it pretty well where the strategy is to make the different pieces profitable, get refinancing and IPO.   People will invest in for example Pepco, but not SNH.  And so creditors are paid of.  

SNH have enough lawyers on board to keep the vultures circling until their wings come off.

[JK001]

Yip today is bad news day that's why shorters are fighting the price down but not sure its working. Would be better off for Alan Gray, Coronation etc to buy in now then cancel the class action which would make the share shoot up then hope for a pay out in 15 years time. All they doing is helping lawyers become more wealthy at the cost of shareholders.

True, but when explaining to the drones why there was no growth in the retirement funds the excuse would be SNH.  So, drones will want to know if VEB is suing, why aren't you.  Publicity stunt using drone money, making lawyers richer.  Fund managers, and excuse me, it is their day job to pick up irregularities, gets part of credibility back. 

Isn't capitalism just great.

[Ms Jet]

Hope so but guess itll plauy out how plays out...we all bit impatient now but main thing is for longs to hold and dont sell out at a loss....it will go up just when

[DayTraderDad]

Im not particularly glum about snh today..all this was predicted just part of the bumpy ride

I think we now reached the bottom things going to turn from Monday.

[Ms Jet]

Thanks Snippit..have good weekend

[Tom]

I think the share holders stand the most to loose from all these court cases, all what they might get is between 0 to 5 or 10 percent to be paid by maybe Steinhoff, Deloitte, the insurance of the board and management members, ABSA, Barclyes, Commerzbank ...etc.., and that's after 15 years or more of ongoing court proceedings.

 

This will create an on going emotional news coverage (and the press strive on producing sensational headlines to attract the readers).

 

It will eventually implicate Deloitte, and the PwC report will be challenged and will have to go through a long verification processes, and it looks like it will be in contradictory with the earlier investigations, and the court will have to get these different legal and auditing professional firms to explain the difference, it will be a very long story, and the truth might become the first victim, as the reputation of all these entities will be on the line.

 

[Snippit]

Thanks Snippit, what is the jaggered blue line that goes from the left bottom corner to top right hand corner...anything?  No meaning, just a drawing aid.

 

Is it likely to go above 2.60 rand..at some point in next weeks or too early to tell... I want sell at small profit and buy some back when they drop again but rebalance my portfolio...Thanks for trying help Guardian A... At 2.28 the resistance is pressing. Signs of more positive sentiment in response to the divergence are now required from the price action. The chart has taken some pressure with good signs of internal resilience. Further it isn't talking just yet.

[Ms Jet]

So true when shareholders have some faith share will go up..and i believe as long as pwc doesn't declare snh bankrupt it will be on up...

[DayTraderDad]

https://www.moneyweb...stitutions-nod/

Boombang 2 hours ago

The beguiling part in the Steinhoff saga is that shareholders themselves destroyed the share value by selling it short… isn’t it supposed to be Steinhoff the one that blames the shareholders for value distruction?

Steinhoff’s crime is the fraud in the valuations and reported financials. As for the share price, the investors must take blame…

 

[Ms Jet]

Im not particularly glum about snh today..all this was predicted just part of the bumpy ride

[Tom]

https://www.moneyweb...stitutions-nod/

[DayTraderDad]

https://m.fin24.com/...-suit-20180928?

Yip today is bad news day that's why shorters are fighting the price down but not sure its working. Would be better off for Alan Gray, Coronation etc to buy in now then cancel the class action which would make the share shoot up then hope for a pay out in 15 years time. All they doing is helping lawyers become more wealthy at the cost of shareholders.

[Lionelza1]

https://m.fin24.com/...-suit-20180928?

[leo]

We have a stand off.... 230 vs 232.....🤠🤠

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[leo]

Some serious resistance at 230. Not a bad thing though

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[Ms Jet]

Looks OK for that...   updated chart tagged onto previous one...

 

https://jsecharts.bl...off-snh_24.html

 

 Update: 28th Sept....

A lower low causes an extension of minute wave ii, whilst also extending the divergence with the RSI. The retrace of minute wave i approaches the popular 0.618 ratio. All quite (short-term) bullish at this point in time.

 

Thanks Snippit, what is the jaggered blue line that goes from the left bottom corner to top right hand corner...anything?

 

Is it likely to go above 2.60 rand..at some point in next weeks or too early to tell... I want sell at small profit and buy some back when they drop again but rebalance my portfolio...Thanks for trying help Guardian A...

[DayTraderDad]

Positive article...https://www.business...n-asia-pacific/

Good news!!!

[Snippit]

Im not buying more sitting masses snh shares...im waiting for it to go up even if goes down first

 

Looks OK for that...   updated chart tagged onto previous one...

 

https://jsecharts.bl...off-snh_24.html

 

 Update: 28th Sept....

A lower low causes an extension of minute wave ii, whilst also extending the divergence with the RSI. The retrace of minute wave i approaches the popular 0.618 ratio. All quite (short-term) bullish at this point in time.

 

[Ms Jet]

Positive article...https://www.business...n-asia-pacific/