# BIN - Bingo Industries



## System (22 April 2017)

Bingo Industries is a leading waste management and recycling company operating predominantly in New South Wales. The Company is a vertically integrated waste management operator having capabilities across the waste collection, processing, separation and recycling components of the waste value chain.

The Company's operations include a network of nine strategically located resource recovery and recycling centres in New South Wales, a modern fleet of 158 collection vehicles, and a bin manufacturing and supply operation.

In FY16, Bingo generated pro forma revenue of $143.0 million and pro forma EBITDA of $36.4 million.

It is anticipated that BIN will list on the ASX during May 2017.

https://www.bingoindustries.com.au


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## peter2 (15 February 2019)

BIN was a very successful float in early 2017 as the price gained >100% in the following 18 months.
Since then, the price has fallen considerably with the market selloff, Sep - Dec 2018. Price has bounced off the recent low and is now starting to look more bullish.

The chart below is part of a research project and should not be considered a recommendation to buy this stock. If you want to read more about the project log in to read the P2 Weekly Portfolio thread. 

Setup: BO-NH after a series of higher lows (daily chart). One HL weekly chart.
Grade B due to recent huge selloff. 
Buy: 2.29, iSL 1.95, let it go, trail stop


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## just_jay (15 February 2019)

I like the increased vol at resistance today, also BO with HL. Watch the 1H earnings due sometime next week.


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## debtfree (18 February 2019)

The market certainly punished BIN this morning after their report/announcement.


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## Miner (18 February 2019)

peter2 said:


> BIN was a very successful float in early 2017 as the price gained >100% in the following 18 months.
> Since then, the price has fallen considerably with the market selloff, Sep - Dec 2018. Price has bounced off the recent low and is now starting to look more bullish.
> 
> The chart below is part of a research project and should not be considered a recommendation to buy this stock. If you want to read more about the project log in to read the P2 Weekly Portfolio thread.
> ...



Good morning @peter2 
With the 45% slump this morning, following result, would you please pass a commentary ?
Regards


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## debtfree (18 February 2019)

Just part of business @peter2 as you have mentioned before. I remember you saying you get one or two every so often, we must take the bad with the good and move on. Thanks for your charts.


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## bigdog (18 February 2019)

Miner said:


> Good morning @peter2
> With the 45% slump this morning, following result, would you please pass a commentary ?
> Regards Miner





Motley Fool reports
https://www.fool.com.au/2019/02/18/down-48-why-investors-dumped-bingo-shares-today/

*Down 48%: Why investors dumped BINGO shares today*
James Mickleboro | February 18, 2019

The *BINGO Industries Ltd* (ASX: BIN) share price has had a shockingly bad start to the week.

In early trade the waste management company’s shares are down 43% to $1.30. At one stage the Bingo share price was down as much as 48% to an all-time low of $1.20.

* Why is the BINGO share price in the dumps today? *
This morning the company released a market update which revealed that it has made a sharp downgrade to its full year earnings before interest, tax, depreciation, and amortisation (EBITDA) guidance.

Instead of its prior guidance of $108 million to $112 million in underlying EBITDA, the company now expects underlying EBITDA to be in the range of $92 million to $96 million in FY 2019.

This is an 11% to 18% downgrade and will mean underlying EBITDA is flat on the prior corresponding period.

* Why has it downgraded its guidance? *
Although BINGO’s post-collections and Toro business units have performed in-line with expectations during the first half of FY 2019, management expects a weaker second half.

This is due to a faster than anticipated softening in multi-dwelling residential construction activity across its key markets, the decision to not lift prices in FY 2019, and the reconfiguration of its development projects.

Management explained that volumes in its Building & Demolition (B&D) collections business were above the previous corresponding period during the first half but have not grown as much as initially forecast. Furthermore, competition in the B&D collections market has put downward pressure on pricing, impacting the company’s margins.

In respect to price increases, management has decided to delay its price increases following the introduction of the Queensland waste levy in order to ensure its customers received only one price increase during the year. It will not implement a price increase until FY 2020 and will absorb the increased costs for the whole of FY 2019.

BINGO’s managing director and chief executive officer, Daniel Tartak, admitted that this was disappointing, but remains positive on the company’s outlook.

He said: “While we have seen headwinds in some of our key markets in FY19 we expect the construction market to remain strong, with overall volumes of construction activity in NSW and Victoria of over $130 billion.”

Before adding: “FY20 will be a transformational year for BINGO as we achieve several key milestones in our redevelopment program, including the commencement of operations at our new recycling and landfill asset, Patons Lane.”


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## peter2 (18 February 2019)

Miner said:


> Good morning @peter2
> With the 45% slump this morning, following result, would you please pass a commentary ?
> Regards









Yes, I normally get one huge disappointment and several smaller disappointments each year. That's with a 12 position portfolio. A 40 position portfolio is going to get many more disappointments, but each position is much smaller.  This hit from BIN may cost the portfolio a 3R loss that's only 0.8%. Had this position been in my own portfolio a 3R loss would have been -3%. 

Please note that I did grade BIN as a B grade opportunity due to the steepness of the recent down trend. (I am monitoring the performance of the A graders vs the B graders and I may show their relative performance in the future.) 

Oh and I did know that I was buying this before it's scheduled report. I accepted the risk that the report may move the price in either direction. 

How I would handle BIN from here (pm 18th Feb). The low is 1.20 and I'll wait until late in the trading day to see if the low price attracts any buyers and closes well above the low. If price is going to close off the low, I won't sell and place my exit stop at today's low (1.20). If price closes near the low I'll exit just before the close or first thing next morning.


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## Miner (18 February 2019)

peter2 said:


> View attachment 92273
> 
> 
> Yes, I normally get one huge disappointment and several smaller disappointments each year. That's with a 12 position portfolio. A 40 position portfolio is going to get many more disappointments, but each position is much smaller.  This hit from BIN may cost the portfolio a 3R loss that's only 0.8%. Had this position been in my own portfolio a 3R loss would have been -3%.
> ...



Thanks @peter2  and  @debtfree    for you reply.
Yes, this slump is basically driven by expectation vs reality so more of phsychological than statistical pattern. I agree.
Hope you have not inucrred on the heavy loss today and the example of ' how I handle was more of a generic statement' .
THe price is hovering around $1.265 after initial drop of $1.2. Technically it is a still good stock (I believe so wait and see.
DNH yet.


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## just_jay (18 February 2019)

peter2 said:


> View attachment 92273
> 
> 
> How I would handle BIN from here (pm 18th Feb). The low is 1.20 and I'll wait until late in the trading day to see if the low price attracts any buyers and closes well above the low. If price is going to close off the low, I won't sell and place my exit stop at today's low (1.20). If price closes near the low I'll exit just before the close or first thing next morning.




Peter, I might not have bought into BIN, but I appreciate you detailing the thought process you are putting into selling vs holding.


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## peter2 (18 February 2019)

Thank-you @just_jay. 
My thoughts are based on an active trading approach. I can't consider myself an investor. If I was an investor I'd be all over the latest update and reading between the lines. It seems to me that today's selling is totally exaggerated. I know it's best if I follow my own trading plans. 

If the market thinks BIN is garbage, then I won't argue.


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## Miner (18 February 2019)

peter2 said:


> Thank-you @just_jay.
> My thoughts are based on an active trading approach. I can't consider myself an investor. If I was an investor I'd be all over the latest update and reading between the lines. It seems to me that today's selling is totally exaggerated. I know it's best if I follow my own trading plans.
> 
> If the market thinks BIN is garbage, then I won't argue.



Pete,
Your last line of the above posting was aparently a funny one but In reality a serious one with double sword.
Bingo is in the business of waste aka garbage - so it is a true reflection . They have put the stock code also as BIN - waste bin or garbage bin ??
If on chart, Bingo appears to be a garbage for you and market - that is a bad sign for the holders who bought yesterday or before for sure .
Without being a chartist, what I am trying to correlate the slump in building industry, residential properties and hence garbage /waste collection business becoming very competitive in two major Eastern states. The recent statement from McGrath  CEO is important to note.

 CWY has a high horse power and got enhanced after TOX takeover. Veolia is also in the market. That leaves BIN to do lot of effort in getting good chunk of market share. Tomorrow would be another interesting day for BIN. I have had a buy order in the morning and reduced it by another 15% to be reviewed on Tuesday's market.


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## barney (18 February 2019)

peter2 said:


> *It seems to me that today's selling is totally exaggerated*.




Agree. Looking at the Ultra high Volume around the dump lows it looks a bit like a bit of a snatch and grab by some heavy hitters.  

Over $70 million worth of shares traded today  That's even more than I have in my trading account

Could be wrong bit it wont surprise me to see this back over $1.50 in a short space of time once all the "milking" is finished.


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## peter2 (18 February 2019)

With the price of BIN at an all time low, *every* stock holder is losing capital on that holding. 

Regarding today's action, if the selling was irrational and over the top then investors would have stepped up in the afternoon and the price would have closed >1.25. They didn't, price closed on a new low. Price looks likely to be going lower tomorrow. 

After today BIN is totally off my radar and you won't be seeing anymore comments from me. I look forward to reading the opinions of the contrarian investors.


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## Ann (18 February 2019)

peter2 said:


> With the price of BIN at an all time low, *every* stock holder is losing capital on that holding.
> 
> Regarding today's action, if the selling was irrational and over the top then investors would have stepped up in the afternoon and the price would have closed >1.25. They didn't, price closed on a new low. Price looks likely to be going lower tomorrow.
> 
> After today BIN is totally off my radar and you won't be seeing anymore comments from me. I look forward to reading the opinions of the contrarian investors.




Peter2

I am on a self inflicted silence from ASF as I am trying to re-create my trading style to short term from long term and I don't need/want distractions. I flick in occasionally to see the action, I always read your comments when I see them. This is a real shock as most of BIN's indicators have been in positive territory.
The only two indicators which appear negative are the NVI and Twiggs money flow. However both were rising.
The only thing I have seen is China is saying they are not taking any more recyclables. This is why I am avoiding Sims Metals SGM, although the TMF and NVI are still OK but there is so much more to choose from.

My first reaction today BIN was it is oversold because it was on the first page of the FinRev saying it was a loser because of the housing downturn. Housing is not actually in such a bad downturn so it may be worth watching BIN, it may not be a real falling knife. However I have no desire recommending an attempted catch of a falling knife. If I was holding I think I would wait. I would normally flick a falling knife immediately but I am wondering if the AFR had too much of an impact.


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## tech/a (18 February 2019)

BIN

Just had a look at the 15 min chart to see if there was any support.
Unfortunately only supply certainly going into close .
Generally a huge move up or down like this will lead to an inside day
next day.
My low target based upon an ABC move it 75c.
This Will take a long long tome to fill the gap.


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## bigdog (19 February 2019)

https://www.theage.com.au/business/...oup-bingo-s-market-value-20190218-p50ygo.html

*Bin baron loses $100m in one day in big dump*
*By Nick Toscano*
February 18, 2019

Less than two years ago, Daniel Tartak transformed a Sydney skip business founded by his father into a half-a-billion-dollar family payday when the company, Bingo Industries, listed on the Australian Securities Exchange.

The 33-year-old's personal 17 per cent stake in the waste management group helped catapult him onto the 2017 _Financial Review Young Rich List_ with an estimated net wealth of $130 million.

But on Monday, the company became something of a share-market dumpster fire. Shares in Bingo Industries fell nearly 50 per cent by the end of the day, wiping $658 million from the company's market value.

Tartak's own holding, which had grown to more than $220 million in recent years, lost $100 million in a single day.

Investors savaged the stock after Mr Tartak told them Bingo Industries was the latest casualty of the nation's rapidly slowing property market, which had dented demand for Bingo's construction and demolition services.

The stock closed at $1.17, down 49.1 per cent from $2.30 the previous session. This took the stock below the company's listing 2017 listing price of $1.80.

Bingo said its underlying earnings were now expected to be "broadly in line" with the previous year. It had previously forecast underlying earnings growth of between 15 and 20 per cent.

Mr Tartak said there had been a faster-than-anticipated softening in multi-dwelling residential construction activity across the group's key markets in Victoria and NSW.

Sydney-based Bingo is a leading provider of waste collection and processing in the building sector, including for the demolition and construction of residential and commercial building projects, and public infrastructure projects.

"While we have seen some headwinds in some of our key markets in financial year 2019, we expect construction to remain strong, with overall volumes of construction activity in NSW and Victoria of over $130 million," Mr Tartak said.

I think what Bingo is telling us is that overall the property cycle is weak and it's going to remain weak.

"We remain committed to our five-year strategy and our focus for the coming year will continue to be on optimising our network of waste assets."

In the wake of damning revelations at the national banking services royal commission, and a push by financial regulators, major banks have put the brakes on new lending and contributed to a slowdown in the housing market after a decade-long boom.

The downturn in the property and construction market has been inflicting damage on the profits and outlook for a number of Australian businesses, including those in the building materials and retail sectors.

"I think what Bingo is telling us is that overall the property cycle is weak and it's going to remain weak," said Mathan Somasundaram, market portfolio strategist at stockbroker Blue Ocean Equity.


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## PZ99 (19 February 2019)

I'm tipping some beer money in - it's still making money. If I was already holding I would've sold on open and bought back in during the close.


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## tech/a (19 February 2019)

Ann said:


> I am on a self inflicted silence from ASF as I am trying to re-create my trading style to short term from long term and I don't need/want distractions.




*Why*
You have around 100% hit rate?
I don't understand.
If I could emulate that I wouldn't
be looking *ANYWHERE!*

*Hint*
Using oscillators for short term trading will
be dangerous to your Capital.


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## Ann (19 February 2019)

tech/a said:


> *Why*
> You have around 100% hit rate?
> I don't understand.
> If I could emulate that I wouldn't
> ...



I have more time now I have retired to focus on stocks, sitting in stocks for years is not a huge challenge and dare I say, slightly boring! 

I have much to learn about short term trading and may end up with a fail rate that makes me quickly lose interest but in the meantime I am going to have a crack at it and see how I go.

What oscillators do you suggest I avoid for short term trading?


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## Miner (19 February 2019)

tech/a said:


> BIN
> 
> Just had a look at the 15 min chart to see if there was any support.
> Unfortunately only supply certainly going into close .
> ...



Tech/A
Interesting comments are now on BIN.
Regarding your low target of 75 cents following your quick review, do you still hold this with this morning's price started with 5% hike  ?
I have reproduced some snippets here: The comments from Marcus Today and Shaw are some what interesting:

*Extract from SHAW and Marcus comments came this morning
Bingo Industries (BIN) (SHAW)*

*Rating: Buy | Risk: High | Price Target: $2.00*

*Disappointing 15% Downgrade + 49% Share Price Massacre = Reduced Market Confidence*

*Event:* Now that’s a reaction! BIN announced a very disappointing trading update, with FY19 EBITDA downgraded from original guidance of 15-20% growth ($108m-$112m vs. Shaw $109.1m, FactSet consensus $117.9m) to a flat $92m-$96m range vs. pcp’s $93.7m. We’ve reduced our FY19 earnings by 15%. With a resultant 49% share price dumping today, it is difficult to reduce BIN to a SELL/HOLD but we acknowledge potential further downside risk leading into the ACCC decision re: DADI acquisition on 28 February. Bottom-line is that FY20 remains robust in lieu of the FY19-specific rebase. PT is reduced from $3.40 to $2.00.Next catalyst: 1H19 result on 26-Feb-19 (with more granularity provided for FY19).






*shaw Recommendation:* Retain BUY after thinking long and hard about this one. This is one we clearly called wrong (clearly under-estimating the pace – and extent – of the resi slowdown’s impact on BIN’s earnings which we erroneously believed to be more resilient). However, a 15% earnings downgrade with resultant share price plunging 49% seems acutely and grossly overdone (FY20 PE rerating from 15x to <10x). Sobering news indeed. We acknowledge that market confidence has been severely dented and the company’s share price is likely to be sidelined over the next few months – augmented by the significant announcement re: ACCC deliberation on DADI due in a fortnight, the risk short-term remains high but beyond this timeframe the operational metrics and underlying business remain attractive with little change to FY20+ performance: double-digit (core) earnings growth (ex-DADI), strong margins and ROE, and attractive sector (infrastructure, recycling, landfills, waste volumes).

*Comments from Marcus Today*


*Bingo* (BIN) may need a name change after yesterday, to Bingone. A huge fall after a massive profit downgrade. The company was previously guiding to a 15%-20% lift in EBITDA, but now it is going to come in flat on this year. Not a good result. The market had this as a growth stock and had even pencilled in a 35% increase. _*Hell hath no fury like an analyst who has got it wrong. And they all did. The stock hit an all-time low yesterday and we would expect to see broker downgrades this morning. *_
In contrast, *CWY *looks like a shining star with a profit rise and a 13% jump in the stock to celebrate. The market will take some time now to get its head around the BIN result and gain confidence that it is a growth stock again. Certainly does not look like one. The headwinds that it faces show no sign of abating. Does seem that there is more competition too in the market. Housing slowing and more players. Not a good recipe. Next key date is 28th February when the ACCC reports back on its proposed takeover of Dial-a Dump.


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## tech/a (19 February 2019)

Ann said:


> What oscillators do you suggest I avoid for short term trading?




Depending on how short term
anything under a couple of days is short term to me.
When trading the DAX 20 min is long term! On a 3 min chart.

*I would suggest ALL of them.
*
They are simply a record of averages of past price action.
Regardless of what they are called.

Divergence can be leading on a confirmational basis.


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## tech/a (19 February 2019)

*Generally a huge move up or down like this will lead to an inside day
next day.*

Yes so far it is acting as expected.
Will of course watch.---If I was trading this short Id be looking for
an opportunity on say a 15 min chart.

Im not Im in the middle of tenders!!


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## Miner (19 February 2019)

tech/a said:


> *Generally a huge move up or down like this will lead to an inside day
> next day.*
> 
> Yes so far it is acting as expected.
> ...



 I would be rather focussing on tenders and seeing a good price if I am a customer for you


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## tech/a (19 February 2019)

Miner said:


> I would be rather focusing on tenders and seeing a good price if I am a customer for you




My tenders need be more accurate than my trading!
Here I'm strictly Fundamental!!
Its a jungle out there!


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## Miner (19 February 2019)

tech/a said:


> My tenders need be more accurate than my trading!
> Here I'm strictly Fundamental!!
> Its a jungle out there!



So in tenders you are like me : Fundamental. Unfortunately, you know my weakness on charts  
In all seriousness, good luck and let your tender wins.


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## citac (19 February 2019)

Hi everyone, 

This stock was being shorted heavily not to long ago, and a specific reason for shorting was the businesses reliance on the domestic/commercial construction industry. 

It does seem a bit to easy, however put two and two together. 

Its a super dangerous stock, to be assuming it can control the decline in construction waste and somehow find revenue in a declining competitive market. 

Housing downturn could last another 2 years, potential for long term pain.  

https://www.afr.com/business/infras...e-dumping-on-bingo-industries-20181127-h18ek7


tech/a any chance you're tendering for a job in southeast Victoria about 70million?


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## tech/a (19 February 2019)

No 
NSW 
$4 mill


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## citac (19 February 2019)

Dial A Dump founder Ian Malouf will hold a 12 per cent stake in the enlarged Bingo, which is raising $425 million at $2.54 a share to help fund the acquisition. He will join the Bingo board.

Mr Malouf and a handful of minority shareholders will be paid $378 million in cash and be issued with $200 million in Bingo shares.

Ouchy

I wonder if they will buy more stock once it all gets approved of course.


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## Miner (19 February 2019)

citac said:


> Dial A Dump founder Ian Malouf will hold a 12 per cent stake in the enlarged Bingo, which is raising $425 million at $2.54 a share to help fund the acquisition. He will join the Bingo board.
> 
> Mr Malouf and a handful of minority shareholders will be paid $378 million in cash and be issued with $200 million in Bingo shares.
> 
> ...



Good post. Your AFR extract BTW  requires membership. But the part report essentially confirms that it is really a bingo now for Bingo Holders on a different direction, however. DNH


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## Miner (20 February 2019)

Returning from airport just checking the market and looks like Bingo has outsmarted all predictions of further fall yesterday and today  . DNH but good luck for holders to recover or add up earlier.


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## tech/a (20 February 2019)

Still
Bearish this is normal


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## Miner (20 February 2019)

tech/a said:


> Still
> Bearish this is normal



Gees. You have real astuteness , gutt, nerve and confidence. Honestly, that is a quality of a ship captain to be calm against  all tides. I am following the grizzly bear


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## tech/a (20 February 2019)

Miner said:


> Gees. You have real astuteness , gutt, nerve and confidence. Honestly, that is a quality of a ship captain to be calm against  all tides. I am following the grizzly bear



If I wasn’t short I wouldn’t yet be short but looking for opportunity


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## bigdog (26 February 2019)

Today had a high of $1.39





Motley Fool reports
https://www.fool.com.au/2019/02/26/...bout-the-bingo-industries-share-price-bounce/

*What you need to know about the Bingo Industries share price bounce*
Brendon Lau | February 26, 2019 

The *Bingo Industries Ltd* (ASX: BIN) is among the best performing stocks on the *S&P/ASX 200* (Index:^AXJO) (ASX:XJO) index after the waste management company posted its half-year results this morning.

The BIN share price jumped 5.2% to $1.35 in morning trade – making it the third best performer on the top 200 index after the Speedcast International Ltd (ASX: SDA) share price and Orocobre Limited (ASX: ORE) share price.

The rally in Bingo’s shares marks a sharp turn in sentiment towards the stock following its shock profit warning just last week.

The stock hasn’t made back all the near 50% plunge in value from the bleak update but at least management is breaking the “downgrades come in threes” curse.

* Profit results not rubbish *
The bounce in Bingo’s share price reflects relief that there aren’t more skeletons falling out of its closet (at least not yet) and its upbeat outlook for FY20.

But before we get into that, here’s a snapshot of its results for the six months ended December 2018:


Net revenue growth up 25.4% to $178.7 million.
Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 4.1% to $45.6 million.
Operating free cash flow improved by 33% and cash conversion ratio came in at 103%.
Margin squeeze from some site being offline for redevelopment, lower margins from Victorian business, rising corporate costs and increase in lower margin material at its post-collections business.
Interim dividend held steady at 1.72 cents per share.
* Quick return to growth? *
While management reiterated its expectations that FY19 full year EBITDA guidance will be flat compared to last year, it stressed that FY20 will be transformational for the group.

“We have a solid forward order book, and we have good visibility of future revenue through our opportunities pipeline. Our aim is to use this runway to continue to diversify our earnings, by securing long-term C&I [commercial and industrial] contracts to provide more annuity-style defensive earnings,” said BINGO’s chief executive Daniel Tartak.

“We expect to see the benefits from the significant capital outlay over the last 12 months on our redevelopment program as our key assets come back online, most notably our recycling and landfill asset at Paton’s Lane and our advanced recycling facility in West Melbourne.”

The company also believes that the introduction of the Queensland levy over the coming months is a positive for BINGO as it plans to increase its prices to offset rising costs.

It appears that BINGO’s profit warning was only a blimp and that it would be quickly returning to growth. Let’s hope for shareholders’ sake we can take management at face value.


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## barney (27 February 2019)

barney said:


> Looking at the Ultra high Volume around the dump lows it looks a bit like a bit of a snatch and grab by some heavy hitters.
> Could be wrong bit it *wont surprise me to see this back over $1.50 in a short space of time once all the "milking" is finished*.




Getting close ... and quicker than I expected.

Couple of Volume areas around the current price so each way bet in the short term.


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## Miner (27 February 2019)

barney said:


> Getting close ... and quicker than I expected.
> 
> *Couple of Volume areas around the current price so each way bet in the short term.*
> 
> View attachment 92569



Good forecasting Barney.  So you are not suggesting BIN is on bear phase and Shaw also supporting your view with a price target publised to reach $2. DNH .


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## barney (27 February 2019)

Miner said:


> Good forecasting Barney.  So you are not suggesting BIN is on bear phase and Shaw also supporting your view with a price target publised to reach $2. DNH .




Yeah, I thought the price action of the initial "dump" looked more like accumulation by the heavy hitters. The updated Fin/Report/announcement gives a bit of weight to an initial market over reaction. 

Price wise, the current level looks pivotal in the short term ….. neither bullish or bearish for mine.

If it retraces back under $1.30 … not a good look …… Break above $1.42  off to the races


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## barney (28 February 2019)

barney said:


> ……* Break above $1.42  off to the races*




A lot of Investors got taken for a ride on this one … The original dump never looked quite "normal" to the point of now looking suspect  Well done to anyone buying at the lows though.  Currently *$1.73*


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## tech/a (28 February 2019)

Very very interesting.
Gap up on strong volume into approx the center of the Gap
on its very big fall.
I expect this will sort supply out in the next day or so.
Currently off from its high today of $1.85 to now $1.715.

An opportunity for those that want to get out to do so
with a little more $$s. Or hold on?

Personally If this is truly bearish I think this is all pretty 
normal with price trading into the gap.
The remaining bears who were caught by surprise will come
out.
I expect the original gap to remain dominant for some time.

Queuing up at round numbers---$1.70!!


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## Miner (28 February 2019)

tech/a said:


> Very very interesting.
> Gap up on strong volume into approx the center of the Gap
> on its very big fall.
> I expect this will sort supply out in the next day or so.
> ...



Good morning all 
I am wondering if the share still looks bearish


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## tech/a (28 February 2019)

Well I think now that $1.70 was the earliest I could have set myself *short* on a CFD.
That's when I had a look!
But I didn't so will watch.
Stop would be $1.85c


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## Ann (28 February 2019)

Miner said:


> Good morning all
> I am wondering if the share still looks bearish




*Why the Bingo Industries share price rocketed 27% higher today*

This looks like a very interesting move...more bullish I should think. A share buyback won't do it any harm either.


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## barney (28 February 2019)

Ann said:


> This looks like a very interesting move...more bullish I should think. A share buyback won't do it any harm either.




Tend to agree ….. The Company has openly suggested they will be buying back up to $75 million worth of shares …. If it gets shorted, the Sellers will need to be pretty resilient to overcome that sort of resistance for anything other than a short term/quick return …… Risky option given the recent price action


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## tech/a (28 February 2019)

Hmmm
I don’t see a lot in this 
Suggesting that a Possible acquisition 
Could lead to a long term (10 year)
Benefit to share holders is less than convincing.


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## Ann (28 February 2019)

tech/a said:


> Hmmm
> I don’t see a lot in this
> Suggesting that a Possible acquisition
> Could lead to a long term (10 year)
> Benefit to share holders is less than convincing.




They might be able to spin it into an environmental 'green' stock. Anything with a tinge of green, even mining companies now will have a good chance of being picked up by fundies and marketed as an environmental stock. 
Looking at the EquiVolume chart, it looks like there is a massive base at $1.20 and with a buy back, no doubt they will get it back above the gap. Above the gap there doesn't seem like too much selling pressure until you get to $2.90 to $3.20. With a buy back it shouldn't suffer too badly with selling pressure.

This chart is delayed so today's action brought the price up to $1.67


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## barney (28 February 2019)

tech/a said:


> Hmmm
> *I don’t see a lot in this*




That's why we have a market tech …… BIN has been, and will be an interesting example wherever it ends …

The bottom line is, for the point of the exercise … it's not about being right … it's about how, as a trader, we control the situation if we get it wrong

I don't hold BIN so am pretty relaxed with my assessment which has been, so far not bad …… 

Some of my recent "real money punts" have been a bit less effective ……. 

I am happy not to disclose those at this point in time

The current BIN thread will be a valuable learning tool whichever way the SP continues


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## tech/a (28 February 2019)

A waste management company with the code BIN
Perfect


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## barney (28 February 2019)

tech/a said:


> A waste management company with the code BIN
> Perfect




It is quite brilliant isn't it  …… Their marketing guys need a pay rise


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## Ann (28 February 2019)

barney said:


> It is quite brilliant isn't it  …… Their marketing guys need a pay rise



And we are probably all reading the name of the company as bingo when it may actually be BinGo


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## jjbinks (28 February 2019)

i thought it was bi non government org


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## peter2 (21 June 2019)

BIN has filled the chart gaps and is looking much better. My hats off to the investors who recognised that the first huge gap was an overreaction. Their continual demand for the shares since then has been well rewarded so far with further looking likely.


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## Trav. (5 July 2019)

This one popped up on my daily scan today and I see that peter2 is all over this.

I will be looking for a BO trade next week @ $2.40. Target is interesting as I can see some resistance at $2.55 but not 100% sure about that as it goes back to August 2018, hopefully we can squeeze a bit more out of it than that.


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## Trav. (16 July 2019)

BIN closed above $2.40 today so I will look for an entry tomorrow


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## just_jay (17 July 2019)

Nice vol in last 2 days. Break of resistance at 2.41 and recent trading range. Hopefully not too much resistance at 2.48.


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## Boggo (15 November 2019)

Not many "new" signals appearing on the weekly All Ords scan.
Midweek scan did pop this up so I bought in yesterday arvo. It's showing signs of interest but there have been a few people offloading too.

(click to expand)


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## barney (15 November 2019)

Boggo said:


> Midweek scan did pop this up so I bought in yesterday arvo.




Well done   Market seemed to take a fancy to the AGM Report on Wednesday.

Did you get in back in July @Trav. or did that gap up on 17th keep you out?


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## Trav. (15 November 2019)

barney said:


> Well done   Market seemed to take a fancy to the AGM Report on Wednesday.
> 
> Did you get in back in July @Trav. or did that gap up on 17th keep you out?



In an out in July, not holding long these days, if all goes well that is !


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## Dona Ferentes (30 December 2019)

jjbinks said:


> i thought it was bi non government org



I hoped it would be BinGone (from outside neighbour's house)


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## Dona Ferentes (30 December 2019)

A few things happening, as BIN hits a high for the year.
- _some $54m worth of shares in Bingo Industries ... came out of voluntary escrow on Christmas Eve. These shares are held by major Bingo shareholder Ian Malouf, who was given a 12 per cent stake in Bingo as payment for the acquisition of his Dial A Dump Industries and will see his stake progressively unlocked. “Shares held directly by Mr Malouf are subject to escrow over four equal tranches to be released nine, 12, 18 and 24 months post-completion (of Dial a Dump merger),” Bingo said in a statement. The release of 18.5 million shares on 24 December represented tranche one, the waste company added._.
- and, at Nov AGM, the company _advised that its Managing Director and Chief Executive Officer, Mr_
_Daniel Tartak, intends to increase his economic interest in BINGO from 15.19% to 19.83%_.


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## barney (31 December 2019)

Dona Ferentes said:


> I hoped it would be BinGone (from outside neighbour's house)




Lol … Put some of your rubbish in it … win win


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## Dona Ferentes (28 January 2020)

ACCC having an investigation into the Building and Demolition waste sector in NSW.

Next, tow truck drivers then tattoo shops, followed by phoenixing and possibly supplier payment practices (including reverse factoring and AI shakedowns)


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## Dona Ferentes (14 April 2020)

Ann said:


> I am on a *self inflicted* silence from ASF as I am trying to re-create my trading style to short term from long term and I don't need/want distractions. I flick in occasionally to see the action...



hope it's only self-imposed!







> My first reaction today BIN was it is oversold because it was on the first page of the FinRev saying it was a *LOSER *because of the housing downturn. Housing is not actually in such a bad downturn so it may be worth watching BIN, it may not be a real falling knife. However I have no desire recommending an attempted catch of a falling knife..



A year on, and it wasn't a loser, at least until Feb this year. But now, of course, we have Covid-19 impacting everything. BIN came out in March with a _*withdrawal of FY20 Earnings Guidance*_ and has 'adequate contingency in place for any further economic deterioration' and could meet future cash requirements.

This was taken as ruling out any Capital Raising but, according to the AFR, many are not convinced:
_- BIN has decent operating cashflows but these are 'eaten up' in capital expenditures and acquisition costs
- there is high net debt, $321million, 
- a reliance on recovery in construction projects_.

Further pink flags include;
- _Ownership Matters found BIN had overstated operating cash flow & understated financing cashflow, by $1.8mill. BIN agreed but said it was immaterial 
- unsustainably high margins', according to Credit Suisse, and including asset sale proceeds in underlying EBITDA (meant to strip out non-recurring revenues)
- other issues raised  concern the high capex spend obscuring true recurrent OPE_X

And with possibility of Cap Raising not insignificant (despite proactive postponement of non-essential spending, etc), there is the issue of the two major shareholders perhaps finding it hard to cough up more.
- _CEO Daniel Tartax spent $70mill buying 30 million shares four months ago
- Ian Malouf, seller of Dial-a-Dump to BIN, had 18.5mill shares out of escrow on 24 March, and the remainder tradeable next March. He's now running a luxury yacht charter biz off the Whitsundays. Wonder how that's going_?

No real bounce after the March selloff. If no corporate action, it could be cheap, but the market isn't convinced.


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## aus_trader (6 July 2020)

Major funding and jobs planned to tackle Australia's recycling problem. Hopefully some of that may funnel down to BIN as well...

https://www.news.com.au/technology/...h/news-story/0a39f4749aa6e840149994cf64b4c69b


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## Dona Ferentes (6 July 2020)

well, they certainly are creating waste in the system with the current _last mile _delivery disruption. Everything with a bar code is packaged.

And b. hard to unscramble eggs


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## Chronos-Plutus (27 September 2020)

Ian:

I can make it all work!

Burn it and bury it. It was my idea from the start, but you need me.

I was just a bit upset because you left me out; of my idea from 2009 in Australia.


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## Chronos-Plutus (27 September 2020)

Some people will not be happy with me:

I am willing to have an agreement within Australia that we take 25% each, me and you; (THEY GET: GOV 25%; SILENT PART 25%); and that the condition is that we always vote/move together.

Happy to put forward my waste management ideas under these conditions  IAN!

*Or;  it can just never happen.*


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## Chronos-Plutus (27 September 2020)

Chronos-Plutus said:


> Some people will not be happy with me:
> 
> I am willing to have an agreement within Australia that we take 25% each, me and you; (THEY GET: GOV 25%; SILENT PART 25%); and that the condition is that we always vote/move together.
> 
> ...




It's just me though:

Let's build it together.

Here is the skeleton:


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## Chronos-Plutus (3 October 2020)

You will be dead before we have incineration in AUS without me.

He is the nest step:


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## Chronos-Plutus (6 October 2020)

Chronos-Plutus said:


> You will be dead before we have incineration in AUS without me.
> 
> He is the nest step:
> 
> View attachment 112561



Funny when so many people have no clue but are willing to claim it!


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## Chronos-Plutus (6 October 2020)

@aus_trader

Are you still laughing?

What happens when you can't burn without me in Australia, because it was my idea!

You grubs will be dead before it happens.


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## Chronos-Plutus (6 October 2020)

I can sit back watch Bingo waste billions trying without me.

It was always my idea in Australia unless you have evidence from 2009.


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## aus_trader (6 October 2020)

Chronos-Plutus said:


> @aus_trader
> 
> Are you still laughing?
> 
> ...



Looks good on paper...


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## Chronos-Plutus (6 October 2020)

aus_trader said:


> Looks good on paper...




Paper doesn't matter; it was always my idea to do it in Australia and the concept has been proven in many ways.


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## over9k (6 October 2020)

1.3% dividend yield, so it's a virtually purely speculative play and only 10% off its pre-covid peak and knocking on the door of its post-march peak. 

Unless you're seeing something I don't, looks like a pass to me?


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## Chronos-Plutus (6 October 2020)

@over9k

You and the people you are with wouldn't have a snowflakes chance in hell knowing what we are doing or what we are looking at.

1. You guys never studied engineering

2. You guys never studied finance

ALL OBIVOUS!

LOL, why keep the act up. You can't even do a basic correlation in Excel. Haha, that is text book IVY applied finance you idiots.


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## Trav. (10 January 2021)

up 8.7% on Friday, 12% for the week with no news ?? any idea why ?


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## Dona Ferentes (10 January 2021)

Trav. said:


> up 8.7% on Friday, 12% for the week with no news ?? any idea why ?



some talk of Private Equity taking it out. 

With dirt cheap money, the alchemists of leverage are looking for anything with fixed contracts, especially with Govt.


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## Trav. (10 January 2021)

Dona Ferentes said:


> some talk of Private Equity taking it out.



So would they be buying on market to build a position for a buy out or just a majority holding? 

from market index


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## Dona Ferentes (10 January 2021)

from the AFR, 17 Dec







> If infrastructure investors are buying businesses with government bus contracts, why not jump into contract-backed waste management groups?
> 
> That’s the question hanging over ASX-listed Bingo Industries, which has some infrastructure types a bit hot under the collar and wondering whether their traditional investment universe can be widened to include rubbish collection and recycling....



So who's buying? Someone building, creeping up to 5% but as a potential acquirer, or a blocker? If the gossip has been out there for a few weeks, then there probably is a bit of opportunistic acquiring of a stake.


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## Dona Ferentes (18 January 2021)

Dona Ferentes said:


> from the AFR, 17 Dec
> So who's buying? Someone building, creeping up to 5% but as a potential acquirer, or a blocker? If the gossip has been out there for a few weeks, then there probably is a bit of opportunistic acquiring of a stake.



and this came out after close:


A _consortium led by Australian private equity firm CPE Capital has made a $2 billion-plus bid to buy waste collections and recycling group Bingo Industries._

_It is understood CPE Capital and its partners, believed to include an infrastructure fund run by Macquarie Group, made a formal offer to acquire Bingo in December and have held advanced talks with the company._

Announcement tomorrow???


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## Trav. (19 January 2021)

BIN left stranded on my watch list.   

Opened up at $3.30 some +20% on yesterdays close.


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## Dona Ferentes (19 January 2021)

Trav. said:


> BIN left stranded on my watch list.
> 
> Opened up at $3.30 some +20% on yesterdays close.



and a  _"highly conditional $3.50 per share cash buyout proposal"._... 

Seen enough of these to not worry. Either you hold the company because is it basically sound, likely to grow and look after shareholders, or you don't.


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## Trav. (19 January 2021)

Dona Ferentes said:


> Either you hold the company because is it basically sound, likely to grow and look after shareholders, or you don't.



I was just disappointed that it came up on my scan, backed up with some good intel from @Dona Ferentes and I just put it on the watchlist....? and meanwhile .... well you know the story.


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## System (11 August 2021)

On August 6th, 2021, Bingo Industries Limited (BIN) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between BIN and its shareholders in connection with the acquisition of all the issued capital in BIN by Recycle and Resource Operations Pty Limited, an entity majority owned by Macquarie Infrastructure and Real Assets and its managed funds.


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