Feltex (FTX) - All over for shareholders

[Lawso]

See my new thread Underweight etc on Investment Strategies. But am still dithering about other possible purchases - shares and/or bonds[?]

[Snow Leopard]

1.66, Humph, the steam as well and truly gone out of this little run [V]

[limegreen]

1.65 with support expected at 1.64 based on previous resistance. The silver lining of this is that it may set up a new higher low to set a steeper uptrend than the last one I drew in.

[Fish Broker]

quote:Originally posted by limegreen

1.65 with support expected at 1.64 based on previous resistance. The silver lining of this is that it may set up a new higher low to set a steeper uptrend than the last one I drew in.

Lets hope so - I still think it is a good story once people look beyond the company's checkered history - medium termer though and not a quick traders stock - good income and imputation credits will follow, and that should put a floor under the price.

[limegreen]

FTX is actually behaving quite nicely with respect to resistance becoming support. The red lines show some resistance lines. As you can see, in it's recent run, each broken resistance line has become support. Hopefully we will soon see a breach of the 1.64 and 1.74/5 lines, and some blue sky

[J. Holmes]

Happy to hold this one, esp compared to CAV.

Good dividend, and most importantly to me...an extremely open share register.

Could be interesting grab for someone, especially if it can keeps its earnings/dividend at this level.

[Snow Leopard]

Although only a trainee chartist, I would say that things are currently promising for Feltex. There has been a reasonable rise in the OBV over the last two weeks and we have a nice little uptrend.
Let us hope that it lasts, the half year results will be along at some point.

[Lawso]

As I may have said before (must stop repeating myself on ST). Fixed interest doesn't have to be boring. Example: Feltex 10.25% bonds.
I bought $10k worth in April '03. In the IPO last June the bonds were swopped for 6192 shares @ 161.5c (issue price was 170). Income from the bonds totalled $1264.05 net Incl. an early redemption payment of $662.90 net) and there was the 6cps final div on the shares in October.
I've just sold the shares @ 168 because they seem to be going nowhere and unlike others on this thread I think there are much better buys on the market. My total net return after tax and brokerage is $11,807.50, a net gain of 18.07% in 22 months.
OK, so plenty of stocks have done as well or better in our bull market but plenty have performed a lot worse.

[Snow Leopard]

quote:
I've just sold the shares @ 168 because they seem to be going nowhere and unlike others on this thread I think there are much better buys on the market

I would disagree that they seem to be going nowhere, I would actually say that AT LAST they are finally going somewhere. I would also say that there are other good buys on the market.

The statement "past performance is no indication of future..." Also applies to anything that previously has not done well.

Still each to his own

Disc: FTX IFT MFT NOGOC TWR

[Snow Leopard]

Well today is half year results announcement day.

Given that we have had heard nothing to the contrary then I guess the result will be inline with the IPO document forecast despite the AU/NZ exchange rate going against them. Also I guess we get a 6c dividend with partial imputation credits so that we get actually get 5c each.
Additionally I expect them to be cautious, as usual, with their statement for the second half.