Feltex (FTX) - All over for shareholders

[limegreen]

This is a little bit off-topic, but did anyone have a broker managed stop loss set (as opposed to a piece of paper with a stop which you honoured yourself). That is, I presume that today's price action would have broke most sensible estimates of a stop, so did you get your shares sold at $1, or did your broker decide not to send your order to market (on the assumption that the loss was too grusome)?

Incidentally, I'd hope that most with a set stop would have it set at the bottom of the trading range, and thus would have got out about a week ago at $1.50...

[nelehdine]

Just flicked my 5000 that I bgt at $1 this morning for $1.06 ... $235 after bkg , not a bad days work and will pay for some nice treats over the W/E.

Thanks Feltex.

[Bling_Bling]

The fundamentals have not changed, so why buy? The property market is not looking to recover for at least another year or two.

[Snow Leopard]

Disclosure Notices for Sam Magill & John Kokic coming up. Want to bet that they have shown their confidence by buying shares today [?]

So I was wrong they bought before the fall [:0]
Sam Migill bought 40,000 shares at $1.47 on 30/31 March 05
John Kokic bought 30,000 shares at $1.50 on 31 March 05.

[winner69]

Minder 8/5/03 posted -

There will be many tears cried when the building downturn in Australasia bite into Feltex in the next few years.

Forbar is only doing what the 'thickos' out there want - high yields. CSFB however is very very smart to take advantage of their thickness.

Score - Feltex, CSFB and Forbar : several million dollars up each. 'Thicko' investors : many millions down already (but don't know).

[Sideshow Bob]

Surely must have been good buying at $1.00 with 6cps fully imputed dividend with a record date of today.

Further lows on Monday..................

[clearasmud]

this is a highly geared co is it not.

perhaps best left alone.

[Bling_Bling]

quote:Originally posted by Sideshow Bob

Surely must have been good buying at $1.00 with 6cps fully imputed dividend with a record date of today.

Further lows on Monday..................

The real question is, can they sustain this div if there are further downgrades and downturn in the building industry. Also FTX is a highly geared company.

[winner69]

Full Year earnings down $8-9M on expectations is pretty bad

But how wrong did FTX get their projections?

Well a month ago they said that EBIT for the second half of the year was going to be about $20M

NOW IT IS GOING TO BE ABOUT $7M

They got it wrong by $13M - or about 65%

Full honest disclosure ... yeah right

Would you ever trust anything this outfit says again ... doubt it

Feel story for those caught out by the bull ****

Winner remember my original post why did the original owners want to sell?