Certainly looks that way.
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This graph reminds me of the old song "Catch a falling star and put it in your pocket" or would that be shareacide
http://www.directbroking.co.nz/direc...uote=Go+%3E%3E
Gonzo.
There is no stopping you.I wish you well and hope in a year's time you can come back and post "Percy you were wrong again" ,however on the 5 year Yahoo chart it looks to me as though you are playing Russian Roulette with a fully loaded double barrelled shotgun!!! Just miss a turn and let someone else pull the trigger.
Transpacific warns of deep loss.
http://www.theaustralian.com.au/news...-1226084070956
Nz on the block the paper says
Maybe WAM might come back to the nzx
WAM was very good me zones ago .....the CEO screwed the Aussies big time and they paid far too much for it ......and even then punters thought WAM was undervalued
TPI was the greater fool this time
TPI been on my watchlist for some time. It will become a cash cow with debt reduction continuing. Landfill sites etc make for a decent moat.
Russell Research have asell on TPI
"Its weak landfill asset performance has been recognised"
"despite buying Borals Melbourne site productivity is low"
Weak growth in Australia and notably in this industry...."
Transpacific NZ was a growth division but was sold to a Chinese company who now pick up my rubbish.
Craig's have a buy on TPI, generally I prefer to buy companies with unanimous sell recommendations.
TPI is a bit of a turnaround, the relatively new CEO has sold off the excellent NZ division for a good price and has used the proceeds to repair the balance sheet.
The companies record is spotty to say the least, when the analysts presumably had buy ratings it was overly indebted.
I started buying at 90c and bought a second tranche at 71c so my average price is 80c.
Since my initial buy the market has been dissapointed by the Melbourne landfill purchase as too expensive, one off losses due to oil prices in the recycling division.
There is concern that another big purchase will be needed for Sydney landfill. What the company is trying to do is boost it's internalisation rates, sending garbage to your own landfill is more profitable.
I am watching to see that the management are not diworsefying as previous management did. Beside that I see the company as a stable stalwart, will never become the next Google but is a safe investment.
Over the next few years as the turnaround eventuates further I am expecting improvements in dividends and profitability which will cause the market to re-rate the company.
I am a long term buy and hold investor it's pretty much irrelevant to me if the shareprice falls short term as long as it is just market sentiment and not anything really wrong.
Congrats to those savvy traders who warned of the weak balance sheet when a flock of analysts were screaming buy at $10-15.
This company has had many years of poor results, long term holders will be capitulating just as the company starts to show some signs of life.
Macquarie Australia Presentation for TOX. Has a lot of info re waste in Aus. I hold (TOX).