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quote:Originally posted by duncan macgregor
Snoopy as always you are defending a companies dropping share price.
Talk about massaging the facts to suit your story! I don't know whether the PGW share price will go up or down when the results are announced. But I do know that in a falling market PGW was *up* 1c today to $1.58.
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You are oblivious to the fact that this is a very obvious result of low or nil profit margins to farmers.
This is not news. Everyone knows that farmers have had a tough year - including Mr Market. You underestimate him.
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If you want to make a complete fool of yourself then buy on the way down. I will only buy on the way up, however long that takes, as long as the prospects are right.
When PGW 'gets to the bottom', are you going to ring a bell?
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In our market the share price rises or falls before the pending announcement, i call that insider trading, you call it whatever. Bad announcement coming up snoopy, stop and start to think for a change.
History shows that the market tends to over-react to bad announcements. I am ready with my cheque book. Are you?
Or maybe Mr Market has over-reacted already!
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Try getting your fundamentals right for a change, talk to the store manager, then visit a couple of farms. Farming is only a 3pc play plus appreciation. There is not much room to move, they the PGW customers are making nothing, think about bad debts, plus decrease in custom, plus the overseas pie in the sky projects.
You have just written an epitaph for *every other* retail sector share *except* farm service companies. Do you really think farmers will let their soul, their land, go to weeds while they rush to town to buy their partner a fresh wardrobe of clothes and a new car?
SNOOPY
discl: hold PGW