CDA - Codan Limited

[Rosscoe62]

there is where >
this is where
(above)

 

[qldfrog]

there is where >
this is where
(above)

Sometimes frustrating i know when you reread own post especially using phone, and can not fix it for spelling etc
Learn not to fret too much about this.we all have learnt

 

[finicky]

So did you trim before the fall?
Interesting chart

No, too complacent.
But trying to sell down some in dribs and drabs today. Can't find a decent amount high in the bid queue to sell too. Have sold 1,500 so far.
Have another 1,000 high in the offer queue. Very antsy, been buying too much fossil fuel lately and none of those going well, as you would have seen.
Edit: just got off another 1,000 @ 14.50

 

[finicky]

That reduce has taken the edge off a bit. Will sit for a while and see what transpires. An inadequate cash position combined with an overweight and overvalued stock (by my estimate only) is not a comfotable psychological state. The more so when I believe we're all playing chicken with timing an eventual crash.

Held
Trading stance

 

[qldfrog]

No, too complacent.
But trying to sell down some in dribs and drabs today. Can't find a decent amount high in the bid queue to sell too. Have sold 1,500 so far.
Have another 1,000 high in the offer queue. Very antsy, been buying too much fossil fuel lately and none of those going well, as you would have seen.
Edit: just got off another 1,000 @ 14.50

And as i know too, not to mention silver...

 

[finicky]

Traded off another 1,000 @ 15.10

Held
In reduce mode

 

[finicky]

Drip feeding. Got off another 1,000 @ 15.43.
I have to resist putting any of it into other targets, i.e swapping quality for less quality.
Cash is my target, not stocks. Must keep telling myself.

@galumay is rather quiet. Although I know his attitude by now, "bought a part of the business"

Held
Reduce mode

 

[galumay]

Practicing my humility.

 

[finicky]

Practicing my humility

Any tips?

 

[galumay]

Dont run with scissors.

 

[finicky]

 

[galumay]

That will push the price up, all else being equal.

 

[finicky]

I think @Dona Ferentes used a phrase that went something like: Amateurs begin the trading day, pros end it.
And I was thinking of selling more today too.

Held
Reduce mode

15 minute chart over 10 days

 

[finicky]

Another acquisition for their communications division. Cost is $34m using their debt facility and they think the addition will be earnings accretive from year one. EBITDA multiple of x 4.2 looks cheap? There is also a 5 year royalty clause subject to conditions. The business is mostly about combatant worn communications on the field of conflict and the acquiree (Kägwerks) is already contracted as a provider to the U.S military and security departments as well as having relationships with British, Australian and N.Z defence ministeries. Also has clients in public safety.

Home - Kägwerks

Kägwerks provides unmatched integrated tactical communications solutions that help further our national security objectives.

kagwerks.com

 

[galumay]

Yep, looks a sensible bolt on at a good price on face value. No mentions of synergies, so thats a plus!!

 

[finicky]

Trying to sell 1,000 more CDA @ 16.32
Part filled.

Held
Reducing

 

[finicky]

Yippy ki yay - offer completed @ 16.32
Watch for a while.

Held
Reducing

 

[finicky]

Fwiw

• Codan Rated New Hold at Bell Potter; PT A$16.90

 

[galumay]

Well that is either a strong buy or a strong sell, just have to work out which one.

 

[finicky]

@galumay, I waver as to whether I take a weak interest in what the brokers are publicly saying. Cynicism is the rational reaction with the obvious conflict of interest regarding paying clients vs pronouncements to the public, but if there is a fresh rerate of a stock from more than one broker I do take a bit of interest.
Bell Potter were all over the place in their recommendations for Imdex (IMD) in 2024. Completely non actionable suggestions.
The price of IMD today is 2.37.
In Feb 2023 they put a BUY target on IMD of $3!
One year later, Feb 2024 they put a SELL on it with a target of 1.50.
So not listening to BP on CDA unless another broker or two chimes in.