JHX - James Hardie Industries

[still_in_school]

Morning Guys,

JHX, plummets this morning by 9.2%, have checked up on it further... not happy... and just as the stock is going up too...

Cheers,
sis

 

[GreatPig]

Re: JHX - plumpets (last call at 9.2% drop this mo

sis,

I'm not sure that what the stock has been doing recently would be called "going up". While the average price has been creeping up a bit, I'd say it's more been ranging sideways on a longer-term down trend.

That's my interpretation anyway

Cheers,
GP

 

[Joe Blow]

JHX down 9.2%

Has this got something to do with all those compensation claims by people who are dying from exposure to asbestos?

Wasn't this on 60 minutes on Sunday?

 

[Jett_Star]

Re: JHX - plumpets (last call at 9.2% drop this mo

I saw that segment on 60 minutes.

That is wrong!

It's all about the dollar... people are 'immaterial' to multi-nationals like JHX

 

[JetDollars]

Re: JHX - plumpets (last call at 9.2% drop this mo

It was also on 7:30 Report last wednesday. It was a comprehensive report on TV. While I was watching it, I thought the share price will heading south the next day. Short Selling opportunity.

 

[still_in_school]

Re: JHX - plumpets (last call at 9.2% drop this mo

tell me about it guys... lol.. i lost money... :-[

Cheers,
sis

 

[JetDollars]

Re: JHX - plumpets (last call at 9.2% drop this mo

SIS,

Why buy Abestos when you can buy bread instead...LOL

 

[ghotib]

JHX - wtf?

Maybe this is a "Psychology of Markets" question, but I'll ask it here anyway.

Does anyone on this board see any rational justification for the jump in James Hardie's share price this afternoon? If so, what is it?

As far as I can see, the report virtually recommends criminal charges against the CEO and CFO. It also cautiously endorses the company's proposed method of ensuring victim compensation, but unions and governments in Australia, the Netherlands, and the US have already flagged their dissatisfaction. Why is this good news?

Bewildered Ghoti

 

[Lucstar]

Re: Jhx - Wtf?

The reason for the recent jump of JHX is that the news of this stock did not come out to be as bad as people thought it would be. Let me explain. When the enquiry went through and people knew that there would be movement with JHX, the share price at that present moment already took into consideration of the negative enquiry. Now that the news came out, people realised that the news was not as bad as they thought it would be. (But still it wasn't good news) and therefore you have your price increase. Thats what i think anyway.

 

[stockGURU]

Re: Jhx - Wtf?

On a personal level, I wouldn't go near this stock with a ten foot pole.

In my opinion the way they have handled this issue of victim compensation is appalling.

 

[ghotib]

Re: Jhx - Wtf?

The reason for the recent jump of JHX is that the news of this stock did not come out to be as bad as people thought it would be. Let me explain. When the enquiry went through and people knew that there would be movement with JHX, the share price at that present moment already took into consideration of the negative enquiry. Now that the news came out, people realised that the news was not as bad as they thought it would be. (But still it wasn't good news) and therefore you have your price increase. Thats what i think anyway.

Nobody knows what the ultimate compensation figures are going to be or when they'll be paid. I presume they're not included in the company's balance sheet, since that was part of the point of the whole stinking arrangement. So the present share price takes into consideration an unknown but multi-billion dollar liability? I don't think so, though I agree with you that many people buying it do.

GURU, I also agree with you that the way the victim compensation issue was handled is terrible. Still, no one will gain anything if it's forced into collapse.

Ghoti

 

[nikblack]

JHX - Problems almost over and a return to better times?

Hi,

I am new to this board and new to regular trading in general. I would like to get some opinions on James Hardie (JHX). I bought in just over a week ago at 6.07, hoping that in the medium to long term the company will return to prosperity. What is the general opinion of the company at the moment - given the recent debacle and threats of boycot (both product and governments being pressured by unions to sell their stock). Is JHX under valued? Potential?

Cheers,
Nik

 

[ghotib]

Re: JHX - Problems almost over and a return to better times?

Hi Nik;

A week or so ago I posted a msg about JHX saying that I couldn't see any sense in the share price jump that happened after the Jackson report was made public. I hope they find their way back to prosperity too, if only because that's the best way to ensure that the victims are paid, but the road looks very rocky to me. I stress that this is personal opinion, not advice.

It's true that the report said "no legal liability", but that was the case for cigarette companies too until recently. Like them, James Hardie has a record of denying that its product was harmful when they knew that it was, and then they went into this sleazy-looking arrangement to avoid paying compensation without actually saying so. The company might (only might, IMO) stay out of the courts in this country, but the political, union, and public pressure is unlikely to go away and it's already moving overseas. There were protests (which alone don't achieve much but which happened mighty fast) at the AGM in the Netherlands. And just this morning I heard a report that lawyers in the US are looking at the compensation issue. If the company gets caught up in the US courts, then it faces unknowable legal costs there in addition to its unknowable compensation liabilities here. (As far as I know their products in the US, which is now the largest part of its business and the source of its major growth prospects, were not asbestos based and there isn't a product liability issue in the US.)

As I said, I hope Hardies gets through this and again becomes a company people can be proud to work for as well as happy to own. I wouldn't bet my retirement on it though.

Ghoti

 

[tristanh]

JHX- James Hardy - What's happening?

Hi all,

I'm reasonably new to charting, and just getting my feet wet. I brought some James Hardy shares (JHX) a few days ago, after drawing in trend lines and looking at the long term picture. To me, it looks as though James Hardy (was) currently trading at the bottom of a trading range, heading up. However, yesterday and today there are 2 bearish engulfing candles which to me doesn't fit in with my analysis. Does anyone else have a bit more insight as to what may be happening? I have a stop loss at $7.20, so I'm hoping it'll start going back up before that ! ;-)

Cheers
Tristan

 

[Ken]

Re: JHX- James Hardy - What's happening?

i got some at 6.70.

if they go to $8 i will still be holding on to them.

they are undervalued at the moment, slow down in housing has been major results of decline in sp, but they have a monoply in US.

 

[tristanh]

Re: JHX- James Hardy - What's happening?

Well it has a trading range of about $2. I got some at $7.45 and I'm expecting it to go to $8.50 in the short term and even up to about $9.50 before dropping back again. Does anyone else's analysis differ from this?

Edit: In other words, would someone please reassure me that the 2 bearish engulfing candles aren't a sign that it's trending back down again ! Grrr ! The volume is reasonably low so perhaps that's a good sign.

 

[tristanh]

What does people think the direction is of James Hardie in the immediate short term?

Cheers
Tristan

 

[billhill]

Anyone else think this stock is looking good for a short. Continued problems in the US housing sector plus what looks to be a breakdown. Its pulled back to around the $8 breakdown line which may be good for an short sell.

 

[Ken]

It has been hit hard as the sector has copped a belting from US housing etc.

The stock will go under $7.00 tommorow again you would expect with the market jitters

When we saw it go under $7.00 on thursday we saw the strength and it flew back to $7.20 on a down day.


The market is going to cool, and the US housing sector is slow, and james hardie is trading on a low PE ratio already.


JHX should be a cyclical stock. So buying out of cycle is just the waiting game for when and if things pick up. They are still making good profits, and still have a monopoly.

I would like to see JHX in a booming housing market.

 

[Ken]

I have attached a picture of the 5 year chart for James hardie share price in the US.

It is interesting that is still in a long term uptrend but there is still some downside you would think.