People still need to buy their petrol somewhere, so if not at BP then it must mean more customers for Shell!
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That was my point , seemed to cause some confusion amongst the easily irritated
Interesting interview with Mike Szikszai; the CEO of Snapper.
http://www.interest.co.nz/news/snapp...ayment-systems
Annual Report paints a rosy picture. - - -Claims a 22.5% gain for shareholders. I presume that is supposing you bought on the lowest day of the year and sold on the highest. - - -
So not going too good this year ... they said $1.72 at March 31 abd now $1.60 ... just as well another 9 months to go to catch up
Infratil lists on the ASX on Monday under the code IFZ
Some activity showing ??????
NTA nowhere near that level...
IFT is an interesting one
Has some great investments (Welly Airport, TPW and maybe Greenstone and maybe IEA).
It also has some poor ones - the rest.
It has quite a bit of debt
And it has a very expensive management contract to Morrison & Co. Which is why the value of the company doesn't get close to the value of the underlying assets.
Morrison and Co's fees in recent years have in now way justified the performance they have given (Greenstone and IEA investment may prove me wrong though).
IFT's wonderful long -term performance has been 90% driven by TPW's performance (which you could have had by just owning TPW and not incurring all the IFT expenses on top).
Best IFT investment currently is IFTHA which is yielding 8.5% and will deliver a very strong capital gain if the 1 year swap rate ever rises.
I'm not a guru as shown by my last TA post in this thread where I identified a triangle that broke to the upside but failed to deliver
I've used a weekly candlestick chart since late 2007
We had the downtrend, which seems to have abated since the hammer candle and the 1.40 all time low in the week of 26th Feb 2009.
Now we have a triangle forming , a lengthy period of compression... which could potentially resolve either way.
These last three weeks are encouraging and theres a lot of support now at the 1.50-60 level but if there is an uptrend its still quite fresh and unproven. (But at least we dont have a down trend)
RSI is heading towards the 70 level but not overbought. Notice the RSI divergence at the end of the downtrend where price was still falling but RSI trend was rising
Verdict : Encouraging right now but unproven, and probably just a bore and tease (inefficient allocation of capital). But that said I'm happy to continue to hold as a stabilizing influence on my portfolio. Despite having smart modern finance techniques behind it (which adds risk imo) being involved in infrastucture is going to have a constraining and stabilizing effect kind of like a utility stock
My strategy before I add any more would be to let it break out and then buy on pullbacks towards current price. Absolute lowest stop for me would be a weekly close below 1.40.
In case the words in this picture are unclear heres a link to a better quality picture
http://img714.imageshack.us/img714/5...ly10092010.png
increased volume on tuesday and today - both days over 2.5m
trend developing further definitely testing the upper compression zone.