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  1. #41
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    better off taking the shares instead of the divi.....the sp looks very stong ...a very nice recovery...maybe they have secured a buyer for the movie chain....

  2. #42
    Guru Dr_Who's Avatar
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    Wonder whats up with SKC? Must be positive news out soon or just window dressing?
    Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt either directly by abolishing large slabs of it, or indirectly by inflating it away.

  3. #43
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    Default Chart Update.

    Red arrows mark SELL signals and Green arrows mark BUY signals.

    See how well these simple technical indicators are working. They got you out of SKC very close to the high when the uptrend ran out of steam and got you back in again just after the low when the subsequent downtrend weakened and ended.

    A note of caution, though. See how, while the uptrend is still very much intact, volume is falling. This fact is reflected by the On Balance Volume plot. The OBV is commonly one of the very first indicators to fire, but you can see that in this case it has still not been triggered even though every other indicator featured here gave Buy signals days ago. The uptrend appears to be losing momentum and should be monitored quite closely.

    MvT regards all this as akin to examining chicken entrails and about as useless. Silly man!


  4. #44
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    Default TA on SKC

    Hi Phaedrus.

    Have been trying to make head or tail of the TA and cant. Phaedrus any update on those buy signals from a month ago?

    cheers
    Naylz

  5. #45
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    Quote Originally Posted by Naylz View Post
    Hi Phaedrus.

    Have been trying to make head or tail of the TA and cant. Phaedrus any update on those buy signals from a month ago?

    cheers
    Naylz
    Quite simple really the chart shows the price at approx $4-10 it is now $3-92. Go to direct broking web site and play about with super charts. The charts only show you where the price has been with an indication of where it might go next, its up to you to work out if the signal is worth following up on. You will find in falling markets quite a high percentage of false buy signals. Macdunk

  6. #46
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    Default SKC Chart update.

    Hi Naylz,
    Since triggering those Buy signals, SKC has tracked sideways. This should not surprise us too much in view of the falling volume (marked by blue line) we had already noted. This is similar to the situation last October when falling volume (blue line again) showed us that the uptrend was running out of steam. The OBV simply presents this same information in a slightly different manner. The absence of OBV confirmation at the time of the other Buy signals was directly caused by this lack of attendant volume. The OBV has now broken its trendline (circled) but this was done without any real conviction by the OBV merely tracking sideways.

    This is just another reminder that the end of a downtrend does not necessarily mean the beginning of an uptrend. Stocks can go into trading ranges that sometimes persist for a long time before an uptrend begins (or the downtrend resumes!)

    To make those buy signals "right", price action would need to go above point (2) which would give a higher high after a higher low and thus an uptrend, so at that point can we say that the downtrend has ended.

    To make those buy signals "wrong", price action would need to drop below point (1) making a new lower low and continuing the downtrend. Until either of those conditions are met, SKC should probably be presumed to be in a trading range.


  7. #47
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    Phaedrus, how do you deal with a chart that busts down through its up - trend line when the stock goes ex-dividend?

    For example, ENV Envestra, went ex a 4% dividend today, and the price action broke a confirmed up trend line as a result. Do you adjust all the price data to take it into account, or is a broken trendline a broken trend line?

  8. #48
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    RTW,
    The usual practice is to correct price data for dividends. If this was not done, there would be the likelihood of false Sell signals being triggered when stocks went ex div.

  9. #49
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    Exclamation BOTTOM in SIGHT..

    AS the stock returns to a new low could go back on the radar nothing like a low price to bring in BUYERS..

  10. #50
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    thats optimistic of you Bricks. theres always the possibility that this is a corrective triangle forming which is in fact generally a continuation pattern. 3:50 and 4:00 are critical levels now.
    For clarity, nothing I say is advice....

  11. #51
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    Exclamation BOTTOM in SIGHT.. & NOW THERE..

    WELL, the $3.46 bottom has been breached and still going south its noticed in Oz the share price excluding ex/rate is 5 cents lower than NZ this is a bit of a worry, The sale of Christchurch pub is a bit of a twist of assets to what advantage is not known. the dribble about Darwin Resort is pie in the SKY but off to Hamilton SKY Casino in the next week to check it out but just at the moment NO need to rush in as the price has not stopped its SLIDE..

  12. #52
    Guru Dr_Who's Avatar
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    I did have a look at SKC awhile back, but decided to not buy it. The new CEO doesnt inspire me at all. They need to appoint a new CEO with a vision before I will look at investing SKC.

  13. #53
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    of all the casinos owned by SKY I am predicting that Hamilton will have the biggest up swing in profit.
    They had the barmy army for a week ,V8s,Fieldays etc..surely must have made a difference.

  14. #54
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    Arrow Swimming Against The Tide Skc..

    WELL , not the best news as Mark Goulopoulos of Tolhurst [SYD] says SELL as the speculation
    of a potential takeover of SKY CITY fades and a disappointing 12 months performance and we are noting daily drops in price and as stated the Oz Price is 5 cents down on NZ so we had better hang fire for the MOMENT..

  15. #55
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    SKC can go much lower from here. It does tell you how bad the economy is out there when a gambling company with a monopoly barks like a dog.

  16. #56
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    Quote Originally Posted by Dr_Who View Post
    SKC can go much lower from here. It does tell you how bad the economy is out there when a gambling company with a monopoly barks like a dog.
    I am with you Dr Who.

    I know that in recession casinos actually do quite well. But something about Sky City makes me twitch. Mostly because I think the suitors have gone away and the reason they went away was because Sky City are having trouble containing their overheads which of course means lower profits.

    I would be careful with this one. Hope I am wrong. Cant talk my Bro into selling. Dont hold.

  17. #57
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    Bermuda.

    I was very excited early this year when I saw SKC sp at its low and was on my watchlist. I was more excited to see it was going to appoint a new CEO and selling the movie theaters.

    After I heard that the only strategy the CEO had was to lure high net worth big gamblers from asia, I immediately took SKC off my watchlist. A CEO with little to no strategy and a lack of vision doesnt give me any confidence. I decided this was a sell and not a buy. I was verbally abused on ST when I mention this (refer to other threat). As it shows, I am right and the sp will reflect this in the long run.

    Good luck to SKC shareholders. I am sure this pup will be a buy in the future, but not until we have a CEO that has a right mix of strategy to grow SKC.
    Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt either directly by abolishing large slabs of it, or indirectly by inflating it away.

  18. #58
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    I have to say, I think this now a dog ,with very active fleas....I sold a few weeks ago but bloodied my nose

  19. #59
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    a few free shuttle buses from the suburbs should help get the punters in the door....:-)

    What i found most disappointing recently was the following in relation to the sale of the cinemas.

    ""but ultimately failed to be concluded with the party unable to achieve a
    satisfactory financing arrangement""

    So your telling me that after all this time and effort the board was dealing with a flea with no dough???

    Do they not do a bit of diligence on the buyer or what?

    Don't tell me the proposed buyer was that "holy glory investments ltd""(or whatever)...the fella operating out of his basement in blockhouse bay who tried to take over RBD a few years back....??

    shaking head unknowingly
    Moi.

  20. #60
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    Wow, the price is in free-fall. If the dividend stays around the 24c mark per year. Thats a pretty good return.

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