MHJ - Michael Hill International.

[winner69]

Jeez Belg ... you must have heaps and heaps of these now .... $1,000 buys 2,500 of the little beauties eh

Think 40 cents would be a 5 year low

Is it just conincidence or something else that the 10:1 split happened near the price peak ..... didn't they say they did it to increase liquidity .... if it goes any lower might need to to do a consolidation to get it out of the penny stock category ... couldn't have a global jeweller seen as that cheap

Just shows how strange these times are .... anything is possible

[winner69]

Yeah you are right ... 50 cents it is .... must have been thinking opportunity with 40 cents on my mind

Michael Hill is a great success company which all retailers should learn from

Nice story the other day in the paper abut the sales assistant getting the BMW for topping the sales ladder for the year ..... incentives are an integral part of their business model ..... but they make sure they know how to sell the Michael Hill way as well.

Its people on the floor that make or break some retailers and some forget that

[shasta]

Yeah you are right ... 50 cents it is .... must have been thinking opportunity with 40 cents on my mind

Michael Hill is a great success company which all retailers should learn from

Nice story the other day in the paper abut the sales assistant getting the BMW for topping the sales ladder for the year ..... incentives are an integral part of their business model ..... but they make sure they know how to sell the Michael Hill way as well.

Its people on the floor that make or break some retailers and some forget that

Michael Hill started off with just 1 store in Whangarei, a definite "kiwi" success story, in fact it used to come up alot when i was at Coopers & Lybrand (Many moons ago!), even though it wasn't a client of our office.

Perhaps a few more businesses could try & replicate the overseas model employed by Michael "The Golfer" Hill, ie slow & steady!

[Phaedrus]

Well Belge, from where I sit this looks like just another example of you demonstrating the folly of averaging down.

The blue exclamation mark is where (with a sly wink) you posted the comment "Those who have been topping up over the recent down period must be loving this!" I guess from the emoticon that you, too, were adding to your holdings at around that time. This was just after MHI had fired off a series of technical SELL signals. The uptrend had run out of steam. MHI has been falling for over a year now with you and others buying into the ongoing downtrend. You call it "accumulating", "topping up" or "net accumulation" but these euphemisms do not mask the fact that you are breaking a lot of commonly accepted rules - and paying the price for that. Click here and count them!

You make the comment that "this hasn't been a bad strategy - but still a losing one I'm afraid". Belg, a losing strategy IS a bad strategy!

Don't add to losing trades.
Don't buy stocks that are in a downtrend.
Don't average down.

[winner69]

stll think it ironic that when MHI did a 10:1 split to make their shares more readily available (at least that is how a lot see it) it's all been downhill .... almost making it really cheap average down

[winner69]

Looking back at the announcements it wasn't that long ago MHI was buying their shares back (over a $1) .... like many didn't really forsee the global turmoil on the horizon ... and now prob say to themselves we chouldn't have done it

[peat]

although there is no confirmation at all... there are a couple of things interesting happening that might mean it has bottomed. there is divergence on the rsi and there's a five wave, wave 5 type diagonal triangle going on - i think its pretty clear here.

i'm not able to lay out the elliot wave count precisely enough myself to determine whether this is truly a wave 5 (maybe its still in one of the divisions of the wave 3 down) but it could be and....one of my charting books says "when you see a diagonal triangle as the last wave of a save 5 , expect a major move to follow."
i repeat - there is no confirmation.

[winner69]

One other thing - 50 is a nice round number (get below 100 and something has to be 'round' and half of a 100 seems pretty round) ...... and it is amazing how many times things happen around round numbers ..... even with MHI the share price hung around 100 +/- a bit for quite a while

Doesn't apply yo their pricing though ..... black board special yesterday in Cuba St was a diamond for Valentines day at $5,995

[Billy Boy]

Doesn't apply yo their pricing though ..... black board special yesterday in Cuba St was a diamond for Valentines day at $5,995

Would have to be "diamond studded" at that price !!!
BB

[Nevl]

Not a bad result. Benefited from the Aussie money giveaway which is great. Thanks Ruddy. May the Aussie govt keep borrowing money so people can buy stuff in shops!! Canada is not looking good at the moment but was happy with the prce they got the US stores for even with the minor loss. The improvement in cashflow was very good and the debt reduction was welcome.

All up I say mildly positive but not a reason to expect a major jump in the share price. Can't see it falling either based on this.