NOD nomad

[donnie]

Heres a good little company that builds buildings for mining and other industries as well. Theres a big market out there for these guys. They look like there getting a good slice of the market. There are other companies doing the same thing on the asx too.

NOD listed at $1 and is now $2.10.


WA mine homes builder poised for $78m raising

20th September 2006, 12:00 WST

WA’s booming resources industry has generated another significant float with South Fremantle accommodation builder Nomad Modular Building about to go public via a $78 million capital raising.

The prospectus for the float is expected to be released next week, but it is understood that shares will be offered to the public at $1, capitalising the entire company on listing at around $116.5 million.

Part of the money raised will be used to accommodate a sell-down by the company’s private equity owners, including ANZ Private Equity, which backed a management buyout led by managing director Phil Guy last year.

Nomad is based at the Australian Marine Complex at Henderson, south of Fremantle, and builds modular buildings for the resources, engineering, government, tourism and retirement sectors.

It has another two complexes at Bibra Lake and recently opened another facility in Wacol, in Queensland.

According to its website, current contracts include a construction village for the $1.8 billion Boddington gold mine expansion project, consisting of an initial 200-person camp followed by facilities for another 1050 people.

It is also doing a 550-person construction facility for the Hope Downs iron ore project, north-west of Newman, and will do the proposed 350-person permanent village.

Mr Guy confirmed yesterday in a brief statement that Nomad Building Solutions, the holding company of Nomad Modular Building, was investigating an initial public offer and listing on the Australian Stock Exchange.

“Nomad will continue business as usual,” he said. “As such, employment, supplier and contractor arrangements will not change.”

A fund manager who became aware of the float through a preliminary marketing campaign this week to prospective institutional investors by Euroz Securities and Wilson HTM said it appeared attractively priced on a number of key performance ratios.

The issue price was around 8.6 times forecast earnings in the current financial year, compared with multiples for comparable companies of around 11, and the forecast dividend yield was 6 per cent, compared with the peer level of 4.6 per cent.

The enterprise value which had been put on it was 5.1 times earnings before interest, tax, depreciation and amortisation, compared with 6.4 for like companies.

Nomad is chaired by former Multiplex managing director and deputy chairman Geoff Allen.

The other board members are Rick Blair, who recently retired as Macmahon Holdings chief financial officer, and the executive chairman of Gold Coast junior miner Monto Minerals Peter Slaughter, as well as Mr Guy.

The float would be one of the most significant in the WA industrial sector in the past year, though dwarfed by that of car retailing giant AHG and heavy earthmoving hire business Emeco.

One of the selling points is likely to be Nomad’s relative insulation for several years from an end to the mining boom because of the extended timeline of existing expansion projects.

[donnie]

up to $2.25 with the oxiana accommodation announcement. looks to have some good upside to come.

[foodee]

Profit upgrade today.
Have top up again.[:p]

Doesn't look like anyone is following this 'boring' share.

cheers

[foodee]

This share has gone up about 20% since I topped up over a month ago.
Interesting times!

[BRICKS]

SEEMS to be going well only needs more PUBLICTY..

[ELYOB]

This firm is constantly involved in acquisition and high profitability contracts and operations ....and these two/three things are going to happen during Jan08.

[macduffy]

I bought into this company just before Christmas after researching and following its fortunes for a few months.
It has an impressive list of contracts from major miners such as, from memory, BHP,RIO, Barrick, OXR ( Prominent Hill project) etc. Annual Report makes interesting reading, covering as it does the period from initial listing in October 2006. Company claims to have secured $230m of contracts in that period for accommodation facilities at various (mostly) mining projects. Exceeded prospectus estimates in first year.
Operates in WA and Qld and has acquired related businesses in these states.

DYOR but well worth a look.

[foodee]

Mac
Think you picked your entry well.
Would have bought more myself except I have
exhausted my allocated funds.

Cheers

[BRICKS]

WELL the price dropped a little today to new year low approx $2.50/56 but very little t/o shows a tight holding but with a downward market conditions a rough BUY..

[ELYOB]

NOD has made a major acquisition and is moving over the next month to hit the big time . I have seen early figure work being finalised by Euroz Securities out today to clients with a valuation (DCF) of $3.55.

Lots of upside to this as the move is completed by end of the month. Current price is $2.50.

Presentation out today on ASX announcements .

This is a good story , get with it !

HOLD NOD-DY

dyor


My prediction is of more contracts in NW of western australia resource industry on the way.

[macduffy]

NOD is making a SPP at $2-35 to help finance the new acquisition, the same price as a placement to institutions etc.

There's a lot of these placements/SPP's around at the moment but I think I'll take up mine. Would like to see the Euroz analysis when/if it becomes available.

[macduffy]

"Criterion" column in this morning's The Australian has a good piece on NOD.

And a BUY rec!

[foodee]

Aye, SPP coming at the most inconvient time as
I will be going fishing for a couple of months.

Cheers

[macduffy]

Aye, SPP coming at the most inconvient time as
I will be going fishing for a couple of months.

Cheers

foodee

Better get someone to look after your mail.

NOD sp up 4.6% today at $2-49.

[soulman]

NOD has forecast EPS of combine entity at 22 cents for FY2008. Good to see conservative forecast gearing ratio of 28% after acquisition.

The presentation implied NPAT for FY2008 at about $30 mil for combined entity. PE at current prices about 11.5 times on EPS of 22 cents.

Very solid and I will most likely at this stage take up my SPP.

[steve fleming]

Another Private Equity debacle.

Listed at $1.00 when ANZ Private Equity sold down 80% of its holding.

Touched $3.00 in the 2007 boom, when ANZ further sold down its holding.

Massive profit downgrade yesterday (from a $10m-$12m profit to a $2m loss)!

Shares now trading at 33cents.

[macduffy]

Yes, management has unfortunately not been up to the challenge of a more complex business following numerous takeovers since listing.

I've taken the loss and sold.

:(

[BRICKS]

NOD has forecast EPS of combine entity at 22 cents for FY2008. Good to see conservative forecast gearing ratio of 28% after acquisition.

The presentation implied NPAT for FY2008 at about $30 mil for combined entity. PE at current prices about 11.5 times on EPS of 22 cents.

Very solid and I will most likely at this stage take up my SPP.

That was some time back now 16 cents whats going ON...

[Nigel]

Around 12 cents now and well under the NTA ASB Securities shows of 30c. Surely oversold (although still trending down). Banking update due 14 June and if acceptable arrangements are made surely this will be flying high again in 12 months when back to profitability. It wasn't too long ago that the dividends were what the shareprice is now!

[Thumpa]

The Banking update from 12th April stated a 60 day extention of facilities on existing terms.

The recent earnings guidance downgrade will not help their cause . Will be interesting to see if the outcome has already been foreseen in the current sell off with increasing volume.
Best to wait for a sign that the down trend has ended .....

http://i167.photobucket.com/albums/u150/soundzgoodgood/NOD.png

[Nigel]

Westpac have extended Nomad's banking facilities for 13 months. A lot of institutions have exited in recent weeks/months on doubts around financing. With this announcement today, that doubt has been removed and we should see money head back into the company, and the share price rise from these ridiculously low levels. Look at NTA, projections of demand for their product, business on hand, proven track record... and everything suggests the share price will be heading north.

[Huang Chung]

No posts on Nomad for 6 months.

Still trading at their lows, but today's announcement was interesting:

http://stocknessmonster.com/news-item?S=NOD&E=ASX&N=524493

Queensland Premier Anna Bligh was on the telle last night talking about the exercise they are commencing to locate suitable mobile home style accommodation as a short to medium term accommodation solution for families displaced by the floods.

With mining still strong, you'd think there is more than a reasonable chance this company can pick itself off the matt.

I'm in today at 14c for a few.

[drillfix]

As you will know HC, its quite unfortunate about all the disaster here in Qld, but in a sad but positive way, there will be billions spent due to it of course hence I can agree with your decision here.

[macduffy]

And NOD have announced that their Queensland operatiions are "largely unaffected".

http://www.asx.com.au/asxpdf/20110114/pdf/41w5srjpykvty7.pdf


Pity about the SP though. I hold a few.

[COLIN]

And NOD have announced that their Queensland operatiions are "largely unaffected".

http://www.asx.com.au/asxpdf/20110114/pdf/41w5srjpykvty7.pdf


Pity about the SP though. I hold a few.

Not sure who is pitying who, McD!

I've joined the team here, too. Have been watching them off and on for a while. Technical signals seem to indicate a strongish "buy".

[modandm]

i have heard good things about the new ceo. this could be one to watch in 2011. Even if just because HC is backing it :D.

Disc: watching only

[percy]

i have heard good things about the new ceo. this could be one to watch in 2011. Even if just because HC is backing it :D.

Disc: watching only

Hope so.I brought a few today.

[Huang Chung]

Contemplating it :-)

But was a shareholder previously, and once bitten twice shy. You can have all the opportunities in the world at your feet, but may still be too incompetant to take advantage of them.

So true KW...just hope it's not the case here. Queensland operations seem to be going well (see my previous post).

[COLIN]

Fellow holders, take heart, and be of good courage. Despite a few jitters in recent days I believe we are now on course again. The indicators still look quite encouraging to me.

[Huang Chung]

Was most surprised to see NOD faltering around 14.5c the other day.

Some punters today might have been sizing up NOD as a likely beneficiary from the impact of TC Yasi when it hits the coast.

[Huang Chung]

Contract dispute brings the shareprice back....

http://stocknessmonster.com/news-item?S=NOD&E=ASX&N=527806

[modandm]

Contract dispute brings the shareprice back....

http://stocknessmonster.com/news-item?S=NOD&E=ASX&N=527806

whats your take HC?

From what I have read seems a bit of a bitter dispute. 2 days late on delivery seems not worthy of a case but the customer is obviously very bitter for some unknown reason?

[Huang Chung]

Disappointing to say the least, as we had been making some nice gains until the announcement.

Good to see it bounce back a little from the initial knee-jerk reaction to the announcement.

[macduffy]

whats your take HC?

From what I have read seems a bit of a bitter dispute. 2 days late on delivery seems not worthy of a case but the customer is obviously very bitter for some unknown reason?

I wonder if it's part of a bigger issue?

I remember reading that the Gorgon project was running behind schedule. Perhaps the jv is itself the subject of a claim and this is a counter/contributing factor in some way?

[mamos]

Talked to CFO and CEO on Friday re: contract dispute.

NOD missed a number of milestone dates throughout the contract. It’s not just the 2 days at end of contract.

NOD have pre-existing claim for $4m damages (for contract variation work).

CFO thinks could win some but not all of $4m damages. They had to re-do some of the work the question is should NOD have got it right in the first place.

CEO said that NOD recently took their claims to adjudication as Theiss had agreed on some of the contractual variation awards but Theiss was delaying giving this money to NOD.

The adjudication process has obviously upset Theiss and their claim may be somewhat retaliatory. However, per the contract they are entitled to claim for it.

Gorgon project is delayed in total so missing some of milestones may not have actually caused loss to Theiss and ultimately Chevron.

1 month ago when discussing with Theiss, Theiss said they did not think there was likely to be liquidated damages claim by them but reserved their right to it.

CEO was meeting with Theiss on Friday as part of ongoing claim disputes, and this new issue will obviously be talked about as well.

CEO thought the claim by Theiss will now mean matters will be concluded much quicker.

Will be some negotiation. Maybe could offset claims? CEO thought unlikely would go to court.

Re 1HY11 did not say whether would make a provision or would be a contingency. I would think contingency more likely?

[percy]

mamos.
Thank you for ringing the company, and also keeping us updated.

[modandm]

Annoncement:
"Nomad Building Solutions Limited (Nomad) advises that its wholly owned subsidiary Nomad
Modular Building, has been awarded a $10.6 million contract to design and manufacture a
camp kitchen and dining buildings for the Fortescue Metals Group’s (FMG) Solomon Iron
Ore Project.

Work on kitchen and dining buildings will commence immediately and is scheduled to be
completed and delivered to the Solomon Project in the north-west of Western Australia, by
early December 2011.

Nomad’s Managing Director Mr Michael Bourke said “the award of this contract is a
significant achievement for the Company as it continues to position Nomad as a leading
manufacturer of more complex central facilities for major projects in remote areas”.
“Recent management changes and improved internal processes have strengthened the
design, estimating, scheduling and project management capabilities of the business. These
improvements made a significant contribution to the successful award of the FMG contract
and leave Nomad Modular well positioned to win a significant share of this type of work in
the future” he added

[modandm]

I took a small position in this stock pretty much on a whim because I like the exposure to resources and QLD housing and because HC generally has some good picks. I have been mildly regretting the call and my divergence from buying 'quality' companies or attractive income securities that I have looked over more thoroughly. This one certainly has a way to go to rebuilding its reputation and profitability and todays announcement is a start.

Lets hope this significant award with FMG reflects NOD's improving reputation as a supplier and leads to further work. Moreover lets hope the quoted changes to internal processes result in greater profitability and this is not just a sound bite from a new CEO.

Speaking of the CEO - have to wonder whether his prior mining experiences aided in the tender??

[Huang Chung]

I actually sold these in February at 17c for a small profit (3cps). Stock didn't run like I thought it might after the floods, and some negative commentary on HC made me think twice about holding the stock.

Saw yesterday's announcement, but was disappointed to see it was only a $10m contract, so didn't buy back in.

[percy]

I actually sold these in February at 17c for a small profit (3cps). Stock didn't run like I thought it might after the floods, and some negative commentary on HC made me think twice about holding the stock.

Saw yesterday's announcement, but was disappointed to see it was only a $10m contract, so didn't buy back in.

I am still there,not being so fast on my feet as you HC[in fact I think I might be flat footed] however I like the sector.I have a friend who works in the same sector here in ChCh and have watched that business grow,so just looks to be a good sector to be in.I will give it a year or two before passing judgement.

[Huang Chung]

I am still there,not being so fast on my feet as you HC[in fact I think I might be flat footed] however I like the sector.I have a friend who works in the same sector here in ChCh and have watched that business grow,so just looks to be a good sector to be in.I will give it a year or two before passing judgement.

I've been keeping an eye out for these sort of announcements, and have noticed that Ausco seems to have picked up a few contracts of late.

Not sure who owns Ausco, but I assume it's a private company.

[percy]

I've been keeping an eye out for these sort of announcements, and have noticed that Ausco seems to have picked up a few contracts of late.

Not sure who owns Ausco, but I assume it's a private company.

The company my friend works for is Portacom NZ Ltd,who are owned by Waco Aus Pty Ltd,whose major shareholders are South African.
The NZ company was carrying huge debt.Two big cash streams,one from selling the buildings,the other from renting them out.

[percy]

I thought the "half year results Investor Presentation" was very positive so added to my modest holding at 12cents today.With cash on hand and low level of debt,and the company making the right decisions we appear to be "well positioned".

[Lizard]

Thanks Percy. Been meaning to check this one out for the "recovery".

Am thinking it should be a good time to buy recoveries, so next job on the list is to hunt out the low Price/Sales companies and start looking for those that have been re-engineered but yet to show up in the bottom line.

[modandm]

CEO jumping ship, not the first managment departure. Got burnt on this stock (though was only a small position). Learnt my lesson - focus on quality. This company is far from it.

[percy]

CEO jumping ship, not the first managment departure. Got burnt on this stock (though was only a small position). Learnt my lesson - focus on quality. This company is far from it.

Agree with you,however if it was a quality company the SP would not be 12cents.What I see is a company in a good sector with very good profitable businesses, being held back by unprofitable WA Modular business.This business will either be sold or closed down,leaving the company to concentrate on McGrath Homes,Rapleys,and Nomad Eastern States,which are good businesses. The company is in a strong position with little debt and now focused on profitable business.With a market cap of $32mil having revenue of over $120mil there appears to be a lot of potential.Whether we see this potential realised or not, time will tell.

[Lizard]

Went over it with a bit more of a fine tooth comb. Odd that the WA Modular business is struggling when it would have theoretically seemed to be the most buoyant sector - i.e. mining as opposed to residential housing. Maybe change in favoured model to B-O-O here is part of it?

I thought accounts not well broken out in terms of ongoing business vs the one-off profit from sale of rental accommodation. Only attempt to break it down is where it gets off-set against the WA Modular loss, as though that is an abnormal - when the review suggests that it has been all too normal. No doubt another loss if they close it down or else more investment required.

Looks to me as though they will likely be unprofitable again second half, so any profit for the year generated off sale of assets. At least they are on top of debt for now, but still need to achieve stability/profitability. As modandm points out, have been lots of staff changes and the latest departure looks less than friendly.

I think it is an okay-ish punt - but turnaround likely to be at least another 4-6 months away. Upside to about 22cps over 12 months, but downside to 8 or 9 cps might be just as likely. Maybe not enough in it for the risk at current price and time, but worth keeping on the list.

[percy]

Thanks KW,Lizard and Modandm.NOD now on watch to sell list.Looks strong on chart so have hand on sell "poised" on sell button.

[soulman]

Hi fellows. I know NOD very well. First foray into them at their near all time high of $3.05 and re-bought more on their way down. How Phaedrus lessons always springs to mind. One of my toughest loss to take when I sold all of them for a 5 figure loss. Back then I was young and clueless.

They seems OK now with new management and net cash. I am in at 12.5. Always thought FWD would want a piece of NOD but they never approach. Maybe this time. MAC services got taken out.

[percy]

Getting good contracts,but share price is 8.5cents.

Looks as though I got another one wrong.!

[blackcap]

and now down to 6.5c. I am also watching with the finger paused on the buy button but cant seem to pull the trigger yet. Surely they are trading at close to their cash NTA. Oh when oh when to buy :)

[macduffy]

Yes, anything to do with servicing the mining sector is out of fashion and taking a beating at present. And probably for a good reason in most cases as projects get cancelled or deferred and activity winds back generally. I'm rather tempted by Fleetwood - FWD - who have their own modular housing problems with WA and Gladstone projects getting the slowdown. But they have the caravan business as well and although the leisure market is also affected, I'm looking for a quicker improvement there. But only looking just yet! The market has savaged them, too, so care is needed!

[percy]

My record of being 100% wrong with this company remains intact.Doubling my holding at 12 cents, has proven the advice given to me not to buy a down trending stock,correct.I have been waiting for the trend to turn around,however it continues on its downward path.
I feel like Peter Dunne, "no fool like an old fool".

[blackcap]

Please Percy, tell us when you sell out :) Then that will signal a time for us to buy ;)

[percy]

Please Percy, tell us when you sell out :) Then that will signal a time for us to buy ;)

You rotten sod.!!!!!

Can't argue with your logic though.
lol.

[percy]

I'm intrigued. What do you guys think will be the catalyst(s) for Nomad to turn around?

Other than me selling I don't really know.!
I thought selling the WA loss making business,new management,stronger balance sheet,and winning new orders would have been it?!

[macduffy]

It will probably need a resurgence of the late boom in mining projects in WA and Qld and demand for mining village accommodation that would accompany that. May be a long way off though and the question will be whether NOD and others can survive the hard times meanwhile. I must admit I havn't looked at their accounts lately but from memory, debt servicing could be difficult.

[percy]

Other than me selling I don't really know.!
I thought selling the WA loss making business,new management,stronger balance sheet,and winning new orders would have been it?!

The half year investor presentation on 7th March said they had NIL debt and cash of $11.8mil as at 28th Feb.
The market cap today is $18mil.
On 24th April they announce $15mil of new contracts.

[NZSilver]

Yes, anything to do with servicing the mining sector is out of fashion and taking a beating at present. And probably for a good reason in most cases as projects get cancelled or deferred and activity winds back generally. I'm rather tempted by Fleetwood - FWD - who have their own modular housing problems with WA and Gladstone projects getting the slowdown. But they have the caravan business as well and although the leisure market is also affected, I'm looking for a quicker improvement there. But only looking just yet! The market has savaged them, too, so care is needed!

Im rather unfamiliar with NOD, however a quick glance at the website and accounts looks good. They are however a very small company. I'm much more familiar with FWD, and have been keeping a close eye on them too macduffy. Very good company, little debt and great management. But catching falling knives can cause grief, often you find it falls further, and you pay catch up trying to buy more to average down, but it often ends in losses that take way to long to make up. I have learnt from my own mistakes in this respect. unlike nod, fwd had its first gain today after a week or so of falls. But I'm still sitting sideline with fwd and I will sit sideline with NOD. There must be a bunch of similar companies hurting at the moment. I would be interested in others people have their eyes on, especially those suffering share price drops but less reliant on the mining industry and more residential/commercial construction. Cheers.

[blackcap]

You are right Percy, they have no debt so I dont know why debt servicing will be a problem. How many shares on issue? Cash of $11.8 million in my book with 277m shares on issue is about (pardon my mental arithmetic) 4 cents per share in cash. So trading at 6.5 cents is close to NTA cash. I guess its what they do with the cash that could determine if its worth buying.

[percy]

You are right Percy, they have no debt so I dont know why debt servicing will be a problem. How many shares on issue? Cash of $11.8 million in my book with 277m shares on issue is about (pardon my mental arithmetic) 4 cents per share in cash. So trading at 6.5 cents is close to NTA cash. I guess its what they do with the cash that could determine if its worth buying.

Yes I think there are277.4mil shares.
From the presentation'; $7mil of rental asset sales could be realised by end H2.Unsoliciited enquires received for certain assets.Possible return of cash to shareholders,.

[percy]

I am sorry but until the full year announcement is made in late August,I am in the dark.

[percy]

Picked up a small amount today at 5c. Have had fun reading this over the last few weeks. Highly speculative, but it does seem a bit too cheap given their cash on hand and assets that could be sold.

Should have leftyour buying to next week,you might have got twice as many for your money.
"Buy one,get one free'.!!
You didn't buy enough to push the price up.!!
lol.
I do hope and pray you have brought at the bottom.!!
Anyhow, a warm welcome to NOD.

[percy]

The result was announced late Friday;
Nett loss of $13.70mil. Challenging market conditions.
Impairments,non cash,were goodwill of $5mil and deferred tax assets $9,3mil.
Continuing Revenue 79.1mil with EBITD $9.1 mil.
A strong financial position,with nil bank debt and cash at bank of $11.3mil.
Positive cash flow from operations of $11mil.
"maximising value for shareholders."
"The board contines to consider the strength of the balance sheet with a view of a dividend payment and/or a return of capital to shareholders in due course."
Market cap $18.3mil @6.6 cents.
Nett assets $37.234 mil .
current assets $39.777 mil current liabilities $25.989 mil.
Total assets $63.323mil ,total liabilities $26.089.
I await developments with interest.Neither a buyer or a seller.Holding" in hope".

[percy]

Got in at 5c, got out at 7.5c around a week or so ago. Had a better use for the money. Nothing against the company's future prospects, seems like an interesting turnaround play.

Sensible.
Well done.!

[blackcap]

I think there is potential here. Not knowing too much about the ins and outs, what I do like is that they have a stable balance sheet, nil bank debt and a positive cashflow. At 7.5 odd cents it could be worth a punt if Australia is going to recover. Cheers for the succinct bal sheet details there Percy.

[percy]

It is a punt.When times were good they failed to make profits.Now times are more difficult,profits will be hard to achieve.
Like most turn- arounds it takes a lot longer than every one thought.There is still [from memory] about $16 of intangibles on the balance sheet
Whether these will be written down or not will depend on what any of their businesses are sold for.A business making a modest [if any] profit is not worth a great deal.
I think Sparky The Clown summed it up by saying he had better uses for his money.
I have been stupid enough to add to a losing position,so have proved all those who say do not buy a stock in a down trend right.!
Being a some what lazy investor I will continue to hold in the meantime,however, should I get the hots for something else NOD will go.

[soulman]

It is a punt.When times were good they failed to make profits.Now times are more difficult,profits will be hard to achieve.
Like most turn- arounds it takes a lot longer than every one thought.There is still [from memory] about $16 of intangibles on the balance sheet
Whether these will be written down or not will depend on what any of their businesses are sold for.A business making a modest [if any] profit is not worth a great deal.
I think Sparky The Clown summed it up by saying he had better uses for his money.
I have been stupid enough to add to a losing position,so have proved all those who say do not buy a stock in a down trend right.!
Being a some what lazy investor I will continue to hold in the meantime,however, should I get the hots for something else NOD will go.

Buying stocks on the downtrend is not too bad if you know the company you are buying just announce a possible turnaround story or release a solid turnaround result with good outlook.

NOD is a good example of this. I remember buying this company for more than $3.00 back in the days.

Got in this morning for 7 cents after your heads up on the weekend Percy. So far so good. I see the market was undecided about the profit result early on with many going through at 6.5 cents.

[percy]

Right, reality check here. We have just had the BIGGEST mining boom in the history of Australia, boom times, the best ever - and NOD sucked ***. Its a dog - sometimes its a dog with fleas, and sometimes its a dog without fleas. Still a dog. Take a look at the 3-4 year chart in case you need a reminder. Surely you can find something better to do with the funds Percy?

Here, let me introduce you to AEU, thats the top green/red line, NOD is the bottom black line :-)
4775

Well I mucked around this morning trying to convince myself that the trend for NOD had turned around.All sorts of excuses to hold.Easy to go to 12 cents from 7 cents, etc.Bit of fresh air and thinking how kind it was for KW to give me a "reality check", and a great share to put my NOD funds to work in.NOD have gone at 7.5cents,and although I have not received the contract note yet,it looks as though I have brought AEU.
A BIG thank you KW.One for the 'reaity check' and secondly for the AEU recommendation.

[soulman]

Although I see your rational for selling, this time NOD is on a possible uptrend whereas before it was on a downtrend. I have no idea how much you pay for NOD on a downtrend but as a general rule, adding stocks in a downtrend is flirting with danger. NOD have new management and have no debt. A leaner company IMO. This is a trading stock for me anyway.

For eg, FWD (in a similar sector) would be a bad stocks to buy now.

[soulman]

On a trading basis, it is more likely to be a "fake out" rather than a real breakout as for the last 3 years any uptrend has failed to stick above the 200 day MA.

Not sure about that KW. Looks like a good breakout today. Actually today's action confirmed a solid uptrend.

Sic that most mining services shares has a tremendous rally recently with impressive returns from ASL, NWH, MND, GNG, LYL with the top 2 (ASL and NWH) having the ride of the week. I unfortunately missed those ride.

[percy]

Ofcourse the buy signal was my selling.

[soulman]

There she goes again. Sellers has returned. I am out.

Indeed it was a fake out KW.

[percy]

There she goes again. Sellers has returned. I am out.

Indeed it was a fake out KW.

Thanks for letting us know what you did.

[soulman]

Thanks for letting us know what you did.

Part of my trading strat is to exit stocks (no matter the cost) that have turned against me.

Will still be on my watchlist.

For KW, seems Australian shares still have some legs to go. Div yield compared to deposit rates still point to 'value' in high yielding stocks.

[blackcap]

Something is happening today. What it is I do not know, but there is some large volumes at increased prices. Anyone in the know?

disc, hold a few avg of about 10c.