First downgrade.
Let’s see if the adage that downgrades come in threes eventuate with WHS this time round.
Printable View
It hit my stop-loss value and I got out at $3.50, keeping just 500 shares as an interest. Looks like I made the right choice as it is still dropping.
I will ask the directors at the ASM why they believed that the shareholders should subsidize government policy by WHS not applying for the wage subsidy when stores were closed.
Audited results arnt out yet. How would they know unless they have access to the ledgers and they dont.
Ok so normally I hold positions for a rather long time (decades in some cases) - but with the warehouse I have the opposite of whatever “diamondhands” is.
Completely folded and sold my entire position this morning.
Decided I was simply too exposed to the NZ retail sector - and to be honest I was also completely spooked by anecdotal data (insert standard “don’t rely on anecdotes” warning). Won’t go into details, but involved my better half and a series of Kmart shopping binges, combined with the conversations with some Australian relatives about the current retail situation over there (empty shelves, no staff, no desire to shop in middle of outbreak) and what that means for the Omicron induced sell-off I am now convinced will happen soon and will hit nearly all the listed NZ retail names hard (might be a better time to pick up some cheap long term holds as I am also confident CV is a temporary issue, but I probably wont re-renter warehouse).
(As usual Beagle was probably right)
All those people who work for Oceania etc for peanuts still have to shop somewhere to make their unlivable wage stretch further.
Fair enough LEK the DCB (dead cat bounce) did not last. Will still be interested in the AUDITED results.
You dont want to be too exposed.:scared:
JB Hi-Fi reported NZ Q2 (Oct/Dec) sales down 3.4% on pcp -- follows Q1 (July/Sep) down 6.4%. Half year EBIT was fractionally up so that's good.
Hoe Noel Leeming have done better .... even though NL Q1 (Aug/Sep) were down 12%
Westpac comment (after property market numbers today) -
We’ve been forecasting the housing market to turn to moderate price declines from the second half of this year. However, the timing of that turnaround has always been fluid, and given the scale of the rise in mortgage rates in recent months, it may prove to be earlier than we estimated. That in turn could have implications for the strength of consumer demand this year, and the extent of OCR hikes that will be needed to keep inflation in check.
Winner a ton of loans have been knocked back in a Baby and the Bath water tightening and they keep getting the housing market wrong even after loop holes have evaporated.
Its the house hold balance sheets that matter and Balance sheets across the western allies are in much better state than in the GFC. Its not a GFC.
Jeez - petrol might be 3 bucks plus soon
That will put a dampener on retail spend ....even if household balance sheets are in a good state;)