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MFG - Magellan Financial Group
- Thread starter Boggo
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skc
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The most amazing stock. Share price is well ahead of earnings but with FUM growing at 10% a month the market seems to believe that there is a high certainty that the earnings will catch up in time.
Held this from $5ish and sold at $7ish when it started to wane a bit in Feb/March this year. Never found the right opportunity to re-enter.
I think $10 will hold it back for a while even just psychologically - unless the market puts on a few more 2% days like last Friday.
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I've been watching this one with interested and posted in the Hypothetical Trades Thread. It's the only micro consolidation pattern by a rising stock in recent weeks. This is only a short term setup for me. Entry was 9.51, stop now at break-even, as I'm cautious in this market. Interested to see if it goes beyond $10 or stalls.
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I bought MFF, the LIC they run back in Mar 12 (still hold).
So I knew all about MFG back when it was selling for $1.70. Thought it was way too expensive and decided to give it a miss. As I have for the past 15 months now and still convinced is too expensive. So no excuse other than personal stubbornness.
At least MFF has doubled its price in that time so shouldn't complain too much.
So I knew all about MFG back when it was selling for $1.70. Thought it was way too expensive and decided to give it a miss. As I have for the past 15 months now and still convinced is too expensive. So no excuse other than personal stubbornness.
At least MFF has doubled its price in that time so shouldn't complain too much.
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I made the mistake of reading some funnymental garbage that said it was overpriced when it was around $1.40.
So much for that being a reliable factor in any decision
skc
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Packer's sold his holding in MFG at $10.68. Now it's trading down ~7%.
The last time Packer sold his holding in EGP, everyone bought it off him got totally smoked.
On the other hand, Packer also sold his holding in SEK at $9.28, but that share is actually up a bit for the day.
May be a good opportunity to buy some MFG if one sees further growth ahead, esp if it was to fall back towards support at $10...
The last time Packer sold his holding in EGP, everyone bought it off him got totally smoked.
On the other hand, Packer also sold his holding in SEK at $9.28, but that share is actually up a bit for the day.
May be a good opportunity to buy some MFG if one sees further growth ahead, esp if it was to fall back towards support at $10...
skc
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It has lost nearly 10% in the past 3 trading days.
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Wanted to short it this morning, forgot, then noticed it was down about 6% at lunch.
Got back to my computer now market is closed and it's up slightly.
Reasons for wanting to short it is because it's highly leveraged to market sentiment and what Microsoft did in the US last night made me think - The one leg table is about to fall over because the US dollar is going to kill the US recovery and it looked like the first shoe to drop along with the big CAT.
See what happens tonight!
Got back to my computer now market is closed and it's up slightly.
Reasons for wanting to short it is because it's highly leveraged to market sentiment and what Microsoft did in the US last night made me think - The one leg table is about to fall over because the US dollar is going to kill the US recovery and it looked like the first shoe to drop along with the big CAT.
See what happens tonight!
skc
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Wanted to short it this morning, forgot, then noticed it was down about 6% at lunch.
Got back to my computer now market is closed and it's up slightly.
Reasons for wanting to short it is because it's highly leveraged to market sentiment and what Microsoft did in the US last night made me think - The one leg table is about to fall over because the US dollar is going to kill the US recovery and it looked like the first shoe to drop along with the big CAT.
See what happens tonight!
Your data's a bit off. Intraday low of $18.45 around 10:28am, a fall of 3.15% from yesterday's close of $19.05.
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On a day when the market is having an absolute cracker morning and financials are all performing, MFG down 2% as I write.
Odd since it's the most bullish of them all in the current environment.
Profit taking? Bit odd.
Odd since it's the most bullish of them all in the current environment.
Profit taking? Bit odd.
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This had become my biggest holding over the last 2 months.
Very happy with the results.
Very happy with the results.
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Hi there
Just joined the forum...
This thread is quite old so not sure if anyone is interested in MFG at the moment but...
I've been swing trading MFG for fun with 150 shares since July and have made around 30% after fees and not including the dividend. Trouble is if I had bought and held I would have made the same $$$ but I guess that it wouldn't have been as much fun. Hind sight is of course always 20/20 so I sold when it looked like the right times to bail, although I hung on a bit too long at the peak of the big run up. I currently have no position in MFG but am watching with interest and my trigger finger is getting itchy...
The share price is currently well off its peak at $22.23 and has been consolidating for the past week or more and IMHO it will eventually break out and judging from the past will probably be on a big price and volume jump. Needless to say the move could be up or down so I plan to watch to see which way the big $$$ is pushing it. I reckon I can always short the stock via CFD's if the move is down and the testosterone is in abundance...
Fun and games...
Cheers Greybeard
Just joined the forum...
This thread is quite old so not sure if anyone is interested in MFG at the moment but...
I've been swing trading MFG for fun with 150 shares since July and have made around 30% after fees and not including the dividend. Trouble is if I had bought and held I would have made the same $$$ but I guess that it wouldn't have been as much fun. Hind sight is of course always 20/20 so I sold when it looked like the right times to bail, although I hung on a bit too long at the peak of the big run up. I currently have no position in MFG but am watching with interest and my trigger finger is getting itchy...
The share price is currently well off its peak at $22.23 and has been consolidating for the past week or more and IMHO it will eventually break out and judging from the past will probably be on a big price and volume jump. Needless to say the move could be up or down so I plan to watch to see which way the big $$$ is pushing it. I reckon I can always short the stock via CFD's if the move is down and the testosterone is in abundance...
Fun and games...
Cheers Greybeard
greggles
I'll be back!
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Magellan Financial Group up 16.20% to $28.05 so far today after announcing that their after-tax profit increased by 37% to $268.9 million for the 12 months to 30 June 2018.
The total dividends for the 2018 financial year of $1.345 per share represent a 57% increase over the total dividends for the prior year.
Things seem to be looking up for MFG. The share price is now around 12 month highs and I doubt today's move north will stop here. Improving sentiment should see the share price head higher in the short term.
The total dividends for the 2018 financial year of $1.345 per share represent a 57% increase over the total dividends for the prior year.
Things seem to be looking up for MFG. The share price is now around 12 month highs and I doubt today's move north will stop here. Improving sentiment should see the share price head higher in the short term.
