MHJ - Michael Hill International.

[rmbbrave]

So an optimist could say that ...

MHI is a long way from breaking the long term uptrend that started way back in 1998.

[Halebop]

Yeah I think 1998 is the better reference, there weren't any "higher highs" from the brief 1991-92 NZ market boom all the way to the end of 1998 ('Course the mid 90s were characterized by a tough price war in Australia and the receivership of Prouds).

[Phaedrus]

Yes, an optimist might say that, and continue holding. But a realist would observe the 2 year sequence of lower highs and say "MHI has been a wonderful growth stock in the past, but it has gone nowhere for over 2 years now. I am so glad that I acted on the SELL signal that was posted back in 2004 on page 3 of this thread".

This break of the long-term trendline is no more and no less than the confirmation of other, shorter term trendline breaks. There is now only one warning left should MHI continue to show technical weakness - a break below the previous support at $6.60. What would an optimist say then?

[Halebop]

Personally I felt the first break was enough to stay out of the share. While I have a lot of respect for MHIs performance, particularly when benchmarked against competitors like ANC, I prefer to love the company rather than love the share. If anyone wants to own MHI, there will be plenty of upside left after they have bottomed out. My pick would be somewhere in the 6's but with uncertain interest rate and inflation considerations, who knows?

[Pennywise]

quote:Originally posted by belgarion

Those who didn't pick up below $7 - Why not?
Those who still didn't pick up between $7 and $7.50 - Why not?
Those still not looking for a few more - Why not?
Those who haven't got a clue what Im talking about should whack current fx-rates into their spreadsheets.

discl: laughing

as soon as it goes down...
voila!!!

Belg has been a net seller for 18 months

that spreadsheet is about to blow

ROTFLMAO

[Lizard]

quote:Originally posted by belgarion
Over the last 18 months I've been an 'unenthusiastic' net seller. (And I've taken advantage of the MHI 'reputation' and indulged in some bounce-back trading. And ramped it here too.)

Whoa! Did I read that correctly? If you're admitting to selling while ramping then I think that is incredibly unethical...!!!

[Pennywise]

quote:Originally posted by belgarion
Over the last 18 months I've been an 'unenthusiastic' net seller.

Posted - 06/02/2005 - At the time when he bought, I think I said ... "buy when management buy?" ... there was little response

Posted - 05/10/2005 - Hope y'all been soaking up the sellers ... I have ... One notes that L.W.P. is stilling buying and the Super has increased their (our?) stake.

Posted - 07/10/2005 - More insiders buying ...

Posted - 15/11/2005 - Almost zero trade for ages.Depth shows buyers but no sellers. And has done for weeks.And today L.W.P picks up more on the biggest trades for ages.A good sign? I hope so.
discl: one of my bigger holdings.

Originally posted by Phaedrus "Look how the OBV continues to rise - this stock is being accumulated, not distributed."
Posted - 21/12/2005 - Very true ...

Posted - 10/01/2006 - Under $7.00 works very well for me but I'll take any short-term bottom that presents itself to top up. As you both point out; MHI delivers!
Still, I feel tomorrow could well be unpleasant given that this announce came late in the day and caught many, including me, by supprize. This investor will be looking to buy more though

Posted - 11/01/2006 - Pathetic volume ... just two bids @ 680 and 660 ... Hm ... Time for a cheaky bid ... Ah but how cheaky?

Posted - 11/01/2006 - The FA's would now be looking to re-build. Bigger sellers, (with weaker stomachs or foriegn investors looking to get out while the NZD is high), will appear. (At least I hope so )
It ain't all over folks

Posted - 13/01/2006 - rmb ... I think you may be moving a bit to early if you just want 2000 shares. That said, if the objective, like mine is 're-stocking', then, IMHO, its a good start

Posted - 18/02/2006 - My buying policy given the thin trade is just to pick a point in the downtrend, buy all the time and stop when my original entry point is reached.

Posted - 13/03/2006 - Sooner or later the NZ market is going to cotton onto MHI's value in the event of the NZD going from 70c to 64 against the USD and 93c to 87c against the AUD ... But then, what do I know.

Posted - 23/03/2006 - Those who didn't pick up below $7 - Why not?
Those who still didn't pick up between $7 and $7.50 - Why not?
Those still not looking for a few more - Why not?
Those who haven't got a clue what Im talking about should whack current fx-rates into their spreadsheets.
discl: laughing

Posted - 05/04/2006 - Officers all topping up.





Above is Belgarions string of posts over the last 18 months in MHI...wow what a bull, buy buy buy, wink wink wink

Now, yes now he comes out with hey look! I've been an UNENTHUSIASTIC net seller over the last 18 months[:o)] Yes unenthusiastic...I would hate to be in a small room with this maniac when he gets enthusiastic, maybe that eye tick gets worse

I think you have forgotten to cover your tracks Belg...
Do you lie to your friends and family as well?...silly Q don't answer

[winner69]

.... which means he has prob been a net seller of feltex as well .... but still has heaps

We have been sucked in pennywise.... i really feel so foolish now

[Pennywise]

yeah me too, I had so much trust in this guy, followed him down the garden path for 18 months

he's fleeced me

I want a govt. enquiry

[rmbbrave]

I have had a pretty good run buying MHI on dips and selling for a profit but I am just a leettle bit worried this time around.

Disc: Bought last week at 7.17