The JSE and finance forum for South Africa
General Category => Shares => Topic started by: jaDEB on April 25, 2013, 04:14:21 pm
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Wow, under R24.....
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IT's trying to do the limbo
(http://markets.ft.com/RESEARCH/uploadhandler/z0485110azfc2c7884f2284896b5d09914f7efde78.png)
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They are killing me . . . What a dip! :'(
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u bought ACL? what was u entry price?
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8) Are we missing the boaT?
High R121
Low R23
Now R41 ??? ::) :-[
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I'm waiting to pounce with one more short here, hey, but that's just me.
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Up 17.4% past 7 days, 18.3% past month, last trade @ 4480. Still don't trust this sucker, on my shorting watch list.
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Up another 5% so far.
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Up 17.4% past 7 days, 18.3% past month, last trade @ 4480. Still don't trust this sucker, on my shorting watch list.
From Imara website.
ARCMITTAL
incipient recovery
Add
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ACL narrowed full-year loss (7 Feb 2014, Reuters) on weaker rand & firmer steel price which offset decline in sales.
Diluted headline loss/share (31 Dec 2014) 56c, prev year loss/share 129c.
UBS raised target price to R50 from 46.30, rating neutral.
Company expected improved Q1 performance (on international price pickup & higher sales volume after seasonal slowdown Q4)
Despite all this, I changed this one from my short watch list to short now until at least end Apr. Q1 Earnings release 9 May.
Anybody aware of a reason (except above ones) not to do this?
Input guys?
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maybe - "The trend is your friend" -
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Ok, I'll bring that into the mix.
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Despite all this, I changed this one from my short watch list to short now until at least end Apr. Q1 Earnings release 9 May.
Anybody aware of a reason (except above ones) not to do this?
Input guys?
Checking the indicators I use shows that it is more ripe for a short than for a long at the moment, but none stand out specifically to convince me to enter a short. Metals prices are seemed to be declining in the year ahead, and if the ZAR does not weaken further or in line with these prices, ACL's income would reduce significantly.
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According to Reuters, Barclays cutting ACL target price to R37 from R38, rating underweight.
(27 Feb 2013)
Edit: Currently trading 3992
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Stoploss past few days, hopefully I get a break today.
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I assume you are short ACL ?
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I'm short everything. :)
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@ Patrick: You asked why the drop specifically today?
Don't know but I can guess. ;D
Except for Barclay’s price cut on ACL on 27 Feb to R37/share and this weekend's China-issues, my guess would be yesterday’s Investor Day Presentation in Canada fuelled more flames:
Mittal yesterday said they are selling some Ukrainian output in other markers on a forecast for slower than expected demand in that growth region as domestic markets are down in Ukraine. Steel demand in Commonwealth of Independent States (that includes Russia & Ukraine), may increase more slowly than the 1.5% to 2.5% previously forecasted by Mittal.
The company provided an update on operations and medium-term plans, (unchanged from previous investor day last year), investors were hoping for additional cost cutting, hence some disappointment after announcement.
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:TU: