Feltex - Ramping Over.

[mikescott]

This be good ramping so I be making quick monies off others.:D

I be told that this stock it be ready to run because it be funds they need to buy for index on 1 July. This be estimated by First NZ Capital [:p] I be told funds they need to be buying at least $30 millions as they be like AMP it has no stock. [:p][:p][:p]

Feltex it also be making big promotion in other markets it be supplying wool carpets to White House.

[Lawso]

There's already an active thread on FTX, minder. Why start another?

Apart from that, I hope you're right.

[Happy]

I am not touching Feltex with a barge pole. Why buy it when Cav is a better company and if you want building sector exposure buy FBU, heaps cheaper and much more upside and more diversified.

How many of you guys have actually brought carpet over the past 3 years? We furnished our place in either wooden or tile floors or a small area of sisal from the UK.

[mikescott]

[:p][:p][:p]I be ramping and be now ready to sell at $1.68. Come and get some be cheap shares. :D:D:D

[Cooper]

Happy: Exactly... plus there is going to be a downturn in house renovations and new building for the residential market. Why buy now? And why would Feltex look to expand now?

[Lawso]

I agree that CAV is an excellent company, Happy, but I don't know enough about FTX yet to say that It is a whole lot worse. I do know that all these new apartments in Auckland and refurbished offices for govt depts in Wgtn are going to need some kind of floor covering and FTX probably has a better offering at the lower end of the market. Time will tell.

My FTX shares have only cost me 161.5. Maybe Minder and me can do a joint sell offer!

[mikescott]

Moved my sale price to $1.72. I be thinking fund managers they be with no stock so they have to be paying higher than $1.70. [:p][:p][:p]

[mikescott]

quote:Originally posted by Happy

I am not touching Feltex with a barge pole. Why buy it when Cav is a better company and if you want building sector exposure buy FBU, heaps cheaper and much more upside and more diversified.

How many of you guys have actually brought carpet over the past 3 years? We furnished our place in either wooden or tile floors or a small area of sisal from the UK.


Cav - expensive vs Feltex and best behind company.
Fbu - very exposed to new housing market where downturn is going to hurt.[xx(]
FTX -mostly refurbishment & commercial.:)

And how many of you have bought jewellery from MHI over the last 5 years? Or go to Sky City to gamble? ;)

Funds they need be buying for index on 1 July. Try buying 5 million shares and see what happens. [:p][:p][:p][:p][:p]

[mikescott]

This be ramping going well. I be moving my sale now to $1.75.

2 weeks to 1 July when funds they be needing to buy for index. Already they be buying as share price it be moving higher and they be not getting volume. Just wait when they be having to buy millions. :D

[Lawso]

Minder and other FTX watchers: You'll be happy with an article in today's Sunday Star-Times, headed "Brokers predict U-turn for Feltex soft start"
After saying that the poor listing is being partly blamed on sharebrokers who took more shares than they were able to on-sell to clients and dumped them on the market at well below 170, the article makes these points:
* FTX will join the NZX50 index on July 1, meaning that index tracking funds will buy about $5m worth of FTX
* On Oct. 1 FTX begins paying divs to Aust shareholders who will earn more in franking credits than NZers receive in imp. credits.
* Former bondholders who converted to shares at 161 [that's me] will be selling to make a profit even at current prices [that's not me] and once they're out of the way there will be less selling pressure.
* Some brokers are still holding sizeable parcels that still overhang the market, particularly First NZ Capital, said to be holding 5 million shares.
* June-year results will be announced in August - a further potential plus.
I'm not saying I accept all of the above. But if half of it is valid, esp. a possible good annual result and upcoming dividend, I'm v happy with my FTX holding.
Minder: Don't rush it! 180 is by no means impossible.

[moimoi]

read the same article lawso and it struck me as a little flimsy. Not really a huge amount in there to fire off a buy order.

If one was the manager of a index fund requiring to track the index by buying FTX, wouldn't the first call you would be making be to First NZ Capital. If $5mill worth of shares need to be purchased by index trackers and FNZC are holding 5mill shares, then wouldn't you start there. Meaning bugger all to be bought on market???

And as for buying based on a perception of the companys maiden results in august...strikes me as akin to saying Christmas is coming (yaeh well it always comes).

cheers
moi

[Lawso]

"Not really a huge amount in there to fire off a buy order," says moimoi.
No, but good reason to hold. I'm already showing a gain of 21.67% from interest payments, early redemption payment and share price gain since I bought Feltex 10.25% bonds 14 months ago.

[mikescott]

This be ramping and FTX be $1.69. Yummy! [:p][:p]

[mikescott]

Pacific Brands, Just Group, ALH, The Reject Shop and recent floats all now be heading higher and higher after they be not listing so well. This be showing where FTX it can be go to.[:p]

[mikescott]

Watch FTX carefully ....more good news they be coming soon!

SSSSShhhhhhhh - something to do with JV in US. ;)

[Gryffyn]

Actually studies, for what they're worth, show that in the main most IPOs give better retursn to those who don't sell in the first week or two - even during the heady 80's and 90's.

[Doctor Who]

quote:Originally posted by minder

Watch FTX carefully ....more good news they be coming soon!

SSSSShhhhhhhh - something to do with JV in US. ;)


the doctor sez u be clutching at straws sniper, u must have got your 100000 allocation form ya happy broker and ya sitting on big loss & pooing yourself when profit warning comes

[Doctor Who]

quote:Originally posted by minder



I be told that this stock it be ready to run because it be funds they need to buy for index on 1 July.

the doctor sez u be rong sniper instos in no rush 2 buy & mosdt got good allocatn and will sell whn u want to ssell - after profit warning then what u change your name 2 thn? maybe you choose #stupid# or #cretin#

[mikescott]

This be ramping at work and working like a charm. :D:D:D

Share price is rising and Doctor Quack is quacking in his boots as his short position goes deeper and deeper in losses.

Love this site! [:p][:p][:p]

[Doctor Who]

the doctor sez hey sniper all trhat wool feltex be buying is not going into carpet but being pulled over your eyes hahahahah :D:D:D ya gotta ask yrself y feltex was sold and the answer is that the writing is on the wool sorry couldnt help myself there :D:D:D

[mikescott]

Starting to write and look like that big loser Bro Coy is Dr Quack!

How's the IPOs for suckers?

Ramp....ramp.....ramp.

[mikescott]

FNZ Capital is now buying and the selling is drying up. Likewise, Macquarie. The institutions are NOT going to get their $5 million shares from FNZC so are going to have to buy on market on 30 June.

And there's more good news yet to come out!!!!!!:D:D:D:D

And Minder has stock waiting for them at $1.75, 1.79 and $1.80.

Yummy! [:p]

[Burgerbun]

oh...I see nightymare is back:D:D:D:D

Minder, you bozo, just cant keep up the cover can you.[8D]

[mikescott]

So where's John Davy, Cloudcuckooland 9? Nice to read your postings again.[:p]

This is an easy ramp and you may just yet learn a few things or not. [^]

How's NOG treating you? :D:D:D:D

[Longtack]

Minder - plenty of sellers @ $1.70 or greater but >3x the number of buyers at $1.69 or less. Closed today at $1.69 again.[xx(]

[mikescott]

That's what they say when the stock was $1.64 and $1.65.

Comes 1 July, watch the fireworks. Yummy! [:p]

Minder has stock for the institutions at $1.75, $1.79 and $1.80. :D:D:D

[Longtack]

Just teasin'. Good luck M8.

[Burgerbun]

:D:D:D
hows your CAH? $2.50 yet:D


Shoulda got some of that MHI and BWY.;)

so wheres this Feltex going?

[Burgerbun]

hahahaha
Balance, Matrix, Sniper, Minder, Nightymare........

whats next...

message for Nightmare Minder, can you tell yourself to read the BWY thread :D:D:D:D:D:D:D:D ....you clod [xx(]

[mikescott]

John Davy Cloudcuckooland 9 - trying that stunt again of changing topics to try and make yourself look good - works at the kindy, not here. When does a clown like you ever learn? [^]

So, Kiss my A R S E. :D:D:D:D

[Longtack]

Join the queue - mwah mwah[:I]

[dingdong]

If Minder thinks FTX is going up, then it's worthwhile buying. Thank you Minder for pointing this one out.

[mikescott]

Will FNZC sell to institutions or squeeze them to $1.80?

50/50 Call so Minder is gone ...... with his profits to CanWest.

Bye bye, fellow rampers. ;)

[Longtack]

Minder - Another $1.69 close today - fess up m8 - you can see the charts.[:p]

[dingdong]

O MasterMind of the Universe I was wondering how you could have made a profit out of FTX since you would have bought at 170, o King of the IPOs?

[Longtack]

Abdab - (No relation tho the "screaming habjabs" are you??)I reckon that Minder should learn to laugh at himself 'cos everyone else is. He was talking about bailing out @ $1.80 at one stage. Still, I can't criticise a fella who can see the writing ... and has the guts to change his mind and say so. Maybe he gottem cheap from a bloke in a pub.[:I]

[dingdong]

A thousand apologies, o Lord of the Ramps, how dare I even contemplate that you would ever lose money on a stock. This unworthy minion is in awe of your 100% track record. Where you go, I shall follow.

[mikescott]

Minder get FTX stock at $1.70? Not on your life! :D:D:D:D

How do $1.62 and $1.64 sound? Good volume and more than enough to make this ramping plenty worthwhile. [}:)][}:)][}:)]

Hey, this thing could still go higher but I have done my part and give it a good ramp. I have made my money - your decision if you want to stay in for any further upside. [^][^][^]

[dingdong]

Pearls of wisdom. o Lion of the Gulf. I hear and obey.

[mikescott]

quote:Originally posted by minder


[:p][:p][:p]I be ramping and be now ready to sell at $1.68. Come and get some be cheap shares. :D:D:D


Abdad, ramp started from 14 June when Minder bought his first FTX shares. A ramp is not buying high and selling low! It is about buying low with a good believable and executable strategy which can benefit all participants - at the expense of some of those dumb institutions.

And that's the operative words - dumb institutions. :D

You got a problem with that? [}:)]

[Lawso]

Hey, Minder! What happened to the hordes of instos and fund mgrs you said were going to pour into FTX on July 1? Price still flat today at 169.

[Gryffyn]

Still got all that carpet Minder? Just buy some TWR and be done with it if you want to make decent profit by years end.

[mikescott]

quote:Originally posted by minder


Will FNZC sell to institutions or squeeze them to $1.80?

50/50 Call so Minder is gone ...... with his profits to CanWest.

Bye bye, fellow rampers. ;)


You are too slow, Gryffyn, that's Minder getting out on 28 June after reading the tea leaves. FNZC was selling at $1.70 so Minder figured no point hanging about. :D:D:D:D

Lawso, instos can get stock off FNZC as FNZC has shown its stupid hands by selling at $1.70 - no need for them to go market weight.

As I wrote on 28 June, I is out! Good profit but not great. [^]

[Lawso]

You should have stayed with FTX, Minder. And the other doom&gloom merchants on this thread are going to be sorry.

Forsyth Barr have put a BUY recommendation on FTX and a valuation of $2.05. In a very positive report they say the carpet market continues to be buoyant in NZ and Oz and FTX is currently implementing a 3-7% price increase across its range.

Most significantly, IMO, FB says they've surveyed carpet retailers in both countries (13 groups with a total 650 outlets) and concluded that retailers' perception of the company and its products "has improved markedly across a wide criteria including carpet design, colour, quality, delivery and service levels". Market share appears to have remained stable, if not increased in some categories.

The survey report quotes a NZ retailer as saying: "Three years ago I was considering dropping Feltex as a supplier. The company has transformed itself over the last two years and I now would rate it amongst the leading suppliers in terms of quality and service."

And an Aussie: "Feltex has made significant progress in the quality of the colours used in its carpets."

EBITDA: FB is forecasting $45.8m in '04, 51.7 in '05 and 53.7 in '06, against actuals of 13.2 in '02 and 31.0 in '03.

NPAT: 23.1F in '04 cf 5.7A in '03.

Looks like FTX will be a healthy competitor for CAV, a situation which may well stimulate the total market. I'm a happy holder of both.

[wsheridan]

quote:Originally posted by Lawso

You should have stayed with FTX, Minder. And the other doom&gloom merchants on this thread are going to be sorry.

Forsyth Barr have put a BUY recommendation on FTX and a valuation of $2.05. In a very positive report they say the carpet market continues to be buoyant in NZ and Oz and FTX is currently implementing a 3-7% price increase across its range.

Most significantly, IMO, FB says they've surveyed carpet retailers in both countries (13 groups with a total 650 outlets) and concluded that retailers' perception of the company and its products "has improved markedly across a wide criteria including carpet design, colour, quality, delivery and service levels". Market share appears to have remained stable, if not increased in some categories.

The survey report quotes a NZ retailer as saying: "Three years ago I was considering dropping Feltex as a supplier. The company has transformed itself over the last two years and I now would rate it amongst the leading suppliers in terms of quality and service."

And an Aussie: "Feltex has made significant progress in the quality of the colours used in its carpets."

EBITDA: FB is forecasting $45.8m in '04, 51.7 in '05 and 53.7 in '06, against actuals of 13.2 in '02 and 31.0 in '03.

NPAT: 23.1F in '04 cf 5.7A in '03.

Looks like FTX will be a healthy competitor for CAV, a situation which may well stimulate the total market. I'm a happy holder of both.



Well, FB were the organising broker, weren't they. They can hardly turn turtle so soon after the offer ..... it's not as if their name is J B Were [B)][:p]:D

[lambton]

So right you are. Beware Investment Bankers selling you something.
And they're a patient manipulative lot. Just when you thought it was safe to invest whamo you're burnt - again.

[Lawso]

OK guys, we've all got our stories about being misled, conned or shabbily treated by a broker. I would normally share your scepticism. But Forbar couldn't have made up all those quotes from retailers or invented a story about surveying 13 major retailer groups on both sides of the Tasman unless they actually did so. Time will tell, but right now I'm prepared to believe that FTX is heading in the right direction. Not long to wait for the June 30 year-end result and divvy announcement.

[Lawso]

FTX in positive territory! Up 4c to 172 in early trading on turnover of nearly 8 million shares
[^] :)

[mikescott]

So much for Forbar's $2.05 valuation and glowing report of Feltex.[:o)]

It's all got very gory.[xx(]

Actually, if you add on Forbar's $23m placement of THL at $1.92 (now $1.77):( and $25m Ebos at $4.20 (now $3.98)[xx(] to Feltex alongside the $50m odd in Feltex:(, there must be a few clients of theirs who are feeling rather ill? :(:([V][xx(][xx(]

[Lizard]

I seem to remember Feltex offered their retailers preferential position in the placement. From what I heard on the grapevine, alot of them took up shares, so no wonder they were giving positive comments to Forbar!

Have to say, usually Forbar gives pretty good advice. But, like everyone, they sometimes get it very wrong.

[Cooper]

Good call on FTX, Minder. I'm a Forbarr client and I have to say my broker is brilliant, couldn't ask for better. The company itself has come out with some spot-on calls, but they also miss the mark drastically on the odd occassion (according to ForBarr WHS was a buy in the high 400s, not so long ago). Like most things the recipe should include a dose of salt. I think maybe Forbarr relies too much on the company it is doing the research on to provide the info. FTX won't be blessed with great amounts of credibility for a while.

[mikescott]

Totally transparent to those who want to play a stock - in this case, against the institutions who have to buy for index weighting.

[^]

[mikescott]

quote:Originally posted by Cooper

Good call on FTX, Minder. I'm a Forbarr client and I have to say my broker is brilliant, couldn't ask for better. The company itself has come out with some spot-on calls, but they also miss the mark drastically on the odd occassion (according to ForBarr WHS was a buy in the high 400s, not so long ago). Like most things the recipe should include a dose of salt. I think maybe Forbarr relies too much on the company it is doing the research on to provide the info. FTX won't be blessed with great amounts of credibility for a while.


;)