Feltex (FTX) - All over for shareholders

[trackers]

Ya well im glad im gone and clear of this share - couple months back i was mildly optimistic but not now - hiring a director as a ceo, the mcgill witch hunt, the merger fiasco, looking at hiring staff (LOL) and now some amusing 'creative' reporting - get out while its still hanging on to 50 imo.

Will reevaluate after the 2006 financial year lol.

[The BOWMAN]

I am surprised the price actually holds on well. Doesn't the latest message just confirmed that the profit will be 2M minus per year from now on? And that is excluding the one off cost. Someone is still thinking 10M profit in half year turn around story?

[limegreen]

quote:Originally posted by belgarion

Any Technical Analysts got a view on recent activity?

I'm not sure what activity you're referring to, but the recent bounch off support suggests that FTX is closer to continuing to trend down than starting to trend up. None of the 3 trades I've marked were particularly profitable, so I'd be (and I am) much more interested in other stocks. This doesn't look like it's going anywhere (good) in a hurry.

[warthog]

quote:Originally posted by belgarion

- 20 MA broken
- RSI going positive
- volumes at rock bottom
- some brokers/analysts recommending this as a buy

Now we know why.

[limegreen]

quote:Originally posted by belgarion

- 20 MA broken
- RSI going positive
- volumes at rock bottom
- some brokers/analysts recommending this as a buy

Any TA's got a view?

discl: been buying [:I]

Come clean Mon! You've been buying because you thought it was cheap! A positive RSI and a break of the 20 day MA would have got you a lot of rotten trades, and one 16% winner


Today's action (not plotted) does look like you might have another OK trade, but it's still very much a DOG for anything other than a trader with passion for fun (and risk).

[minimoke]

quote:Originally posted by belgarion



discl: been buying [:I]

So has Godfrey Hirst!

[Lizard]

It seems positive. I would feel considerably safer holding FTX now... if GH have taken the decision to increase their holding, it will surely not be without purpose.

[TheGuv]

so GH acquired Magill's interests in a off-market trade. interesting.

[Snow Leopard]

Not a technical view but a psychological one

quote:
Those looking for a quick buck will be out in the next few weeks ... Belgie will continue to accumulate on weakness and await the inevitable ...

Past experience says to me that if there is no further news the SP will start to decline again. I would have bought to sell quickly if I had been around when the ann came out.

[The BOWMAN]

It is obvious the GH is a very inexperienced market player. Clearly they don't have strategies/plans in this game. What they have done is nothing more than following their noses. IMO Magill's action of selling at 47c(or 48c?) is more significant. It probably shows that Magill holds the same view I have, FTX does't worth more than 47c or 48c.