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54.5¢ slater & gordon limited

I am back. So is SGH, page-28

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Krispytech

4,431 Posts.

17/03/17

20:48

Post #: 23444223
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Originally posted by Krispytech ↑

How are you all the long term holders and believers.
My suspension is over today.
Glad to be back.
Please dont expect me to comment on every post and answer every ones questions as my previous suspension wa for writing too many messages.
Well here is what i did.
When barristes group in VIC swrote to its memebrs in VIC to get payments in advance from SGH for the work they were going to do, and the down raming here was so so big, i was scared.
I sold 100K out of my 200 K from SMSF on that day at market and was out at the bottom of 6.5.
Not good.
Sold 155 K from my personal holding too arpound 10 cnts and 13.5 cents.
However , here is the good news,When i read yesterday that banks have sold off their debt at 25 cents in a dollar, there was sparking in my mind. In a flash i loaded up 90 K then another 66 K and then another 54 K yesterday.

The only problem was i could not buy back in my SMSF as i was not allowed to buy this SGH stock as it was not in ASX 300 i think.
U call it luck or my experience as a day trader in futures trading that i supported my instincts yeterday and bought back a major chunk of what i have sold off.
I think that the ANN today is a very very encouraging news for all the long suffering LT holders.
SGH is going to make it by the look of it. It wont be delisted and go into VA.
D 4 E will happen but not like most down rampers calling here in my views.
They R too peesimistic and dont see what the debt buyers see in SGH and its future.
A living and performing SGH has far far higher value for debt buyers
than a dead SGH.
That too when the dilution is not very high and debt is also scaled back with dilution happening at decent price and may be pushed back a couple of years.
We got to rememebr that new debt buyers have bought debt at 75% discount.
Once D 4 E happens as expected and that too pushed back few years, debt sliced to less than half, SGH can come roaring back and so will its stock price.
We cant forget that the debt that will be written off in a way will be quickly added to the market cap of SGH .
Add to that the stable SGH and future looking clear what it will and can do to the SGH stock price.
Every one has to see as per theri risk appetite and where they R in life.
I for one thoguht it was wise for me to buy back all my shares that i have sold before. I think there will be many more in similar situation who will like to buy back ansd many even like to add ad the threat of delisting VA etc all gone.
As usual. DYOR.
PS. Market seems to be agreeing with me for once that SGH is a screaming buy at CURRENT MARKET PRICE.Volume confirms that.

Expand

I was going to write a detailed message when i had some time.
However considering the request for chart/technical update,
i will write the technical bit of that message for the time being.
Here it is.
MACD LINES HAVE crossed over to buy mode.
RSI is turning up and showing decent BULLISH divergence from an extremely ovesold level.
Today's up move came on a total chix and ASX volume of 63 million plus.
Dont rememeber when that happened last time with SGH.
Even when U discount for day trading, this is like and explosion happening technically on a 46% up day.
It is not often U see such moves when every thing lines up.

Looks like short man data could be very revealing as short covering may have started from complacent shorts who are smelling ..u knkw what..........fast reduction of their shorting profit.
Keep smiling.

SGH Price at posting: 13.0¢ Sentiment: Buy Disclosure: Held
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