galumay
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I hate to say I told you so,....but...
MMS - McMillan Shakespeare
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I wouldn’t read too much into near term price action.
How many shares would long term believers in MMS want to accumulate today (especially in light of the recent opportunities to accumulate)
How many people with no idea (or mere opinions) about MMS will be wanting to cash in their election bets?
Perceived FBT tail risks heightened in markets eyes – but I would argue that the whole episode has actual lowered risk especially in light of the open letter from Abbott and Hockey and labors failure to prosecute the removal.
Competitive advantage improved.
MMS is more than just a company on the FBT teat. Management have a substantial amount of their wealth in the business and I bet they are motivated even more now to continue diversifying the business. BUT they needn’t and shouldn’t throw away novated leasing business while the opportunity exists just because it carries tail risk. It’s not as though it requires much capital to maintain it.
Awaiting company update. What’s the short term damage been? – how much catch up is taking place? I reckon a record number leases will be written today and MMS has the work force still in place to deal with it.
galumay
learner
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I wasn't, my point was that I thought it likely the price would settle post election. I agree with everything else in your post and thats why I continue to hold. Depending on the outcome of their next announcement I may well move them from my speccy portfolio into my long term investment one.
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Yes, interesting sell down today as the election speculators bail on MMS. Why would you sell today instead of pre-election? Perhaps the lack of a pop in the share price has caused an exodus to lock in profit. Whatever the psychology, another buying opportunity for the value investor beckons.
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Tend to agree, I sold pre and I'm buying the close. It's usually good to buy against what is implied in the Fin Review.
The car industry had a good month despite the self deluded fools attempt to feel what it was like to make a policy announcement.
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My thoughts exactly. I wonder why those who sold today did so instead of on Friday?
I was expecting it to reach $14-15 today, and I knew I should've sold immediately when it opened below $14. Made a bit of a loss but oh well
My thoughts exactly. I wonder why those who sold today did so instead of on Friday?
I was expecting it to reach $14-15 today, and I knew I should've sold immediately when it opened below $14. Made a bit of a loss but oh well
did you get out? I think although I got smashed today, Ill be holding for a few weeks and seeing what happens. I hope I'm right
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Personally, I am unconcerned and bought more MMS at the close. When you have conservative value investing firms valuing MMS at $13.80 (worst case) and above, where such valuations tend to be well below what the market is willing to pay for stocks of quality of an MMS, then you have to ask yourself if holding MMS longer term will likely reward you. Also ask yourself, if 6 months from now MMS financials return to what they were pre-announcement of FBT changes (quite a likely outcome IMO), what would the market be willing to pay for MMS given recent price history.
If one's reason for buying into MMS was to flip it for maximum short term profit then the time for doing that has well and truly passed.
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Bought in at $13.67 on Friday. You'd think that'd be safe given the election results.
But nope, got out at $12.90
I think long term there is a good chance I could've made a gain, but this was purely for short term gain purposes.
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Technically the 14 level is a bit of resistance and is also spot on the 61.8% retracement back up from the fall off the peak. So Traders will have been cognisant of that.
Yet the volume on the last two days of selling was very low.
Weak hands.
If it breaks the 50% retracement with attitude that would be a good point (12.50 ish) to stop and sit back.
Unlikely however given the lack of volume in the selling.
It also bounced off that 50% level pretty hard in early trade yesterday.
Yet the volume on the last two days of selling was very low.
Weak hands.
If it breaks the 50% retracement with attitude that would be a good point (12.50 ish) to stop and sit back.
Unlikely however given the lack of volume in the selling.
It also bounced off that 50% level pretty hard in early trade yesterday.
welp I'm stuck between a rock and a hard place. Yesterday getting smashed and today not looking too good so far. Perhaps people are still selling off from the their election bets? May have to hold on to this for a while to get back to what I bought it at.
Db94. Your posts are hard to read.....I don’t mean literally.
Get a plan, any plan, even a wrong plan so you at least have a consistent base line to learn from would serve you better then blowing in the wind.
Thanks for the feedback
I did have some of a plan but I ignored it (cut loss at 5%); lesson learned to say the least.
tech/a
No Ordinary Duck
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Thanks for the feedback
I did have some of a plan but I ignored it (cut loss at 5%); lesson learned to say the least.
Trailing stop of 5% is fine.
But wouldn't it be handy to be able to recognise
supply and lack of demand so you can be pretty sure your
seeing a reversal rather than a corrective move in an up trend?
What will you do if price rises to your pre determined 5%
stop level?
Sell out or Hold?
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So much panic selling. Nothing has changed. I'll be holding a little while longer now.
They're announcing annual results tomorrow morning.
They're announcing annual results tomorrow morning.
Yeah so much panic. I must admit I did not expect this. Divy is up soon too isn't it???
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If you take a look at the 3 yr chart how would you explain the rise up to $18, the fall to $8 and the subsequent rise to $13....what changed in each of these circumstances? If you need an explanation of change for every couple of dollars of movement you get yourself into a tricky game....
If the price had just steadily risen from $2 to $13 over the last x amount of years, rather than overshoot and overcorrect - would you still be thinking that $13 is cheap? or would you look at the chart going exponentially from the bottom left to the top right corner and think it was expensive....
P.S the above post is theoretical in nature and in no way conveys my thoughts on the value of MMS.
tech/a
No Ordinary Duck
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So price is falling which is not in line with your expectations so you label it panic selling?
What's the panic about??
Could it be that the figures aren't expected to be favourable?
Why has nothing changed?
Clearly something has changed---sentiment!
