I have written about robot(bot) trades on UGL several times the past 10 days. But today is especially rampant. Scores of trades of around 5 shares or less have gone through in 70mins. Everytime a parcel of shares is bought above the bid(buy) price.... instantaneously a bot trade appears at 1 or 2c below previous transaction. Clearly someone is accumulating whilst capping the SP.
Despite this, vols have improved after slow 1st 30mins this morning and SP up 1.2%. Looks like 7.oo mark is holding but concede my previous optimism re SP bouncing back above 8.oo
fairly quickly has receded. It now seems(as wave of fear re credit crisis continues) that only an announcement of new contract(s) can produce a biggish leap in SP.
But at $7.oo UGL (by my estimation)is:
FY09 EPS: 98c
FY09 PE:7.15
FY09 div: 66c (may get 67-68c)
Div yield: 9.4% F.franked.
Can any other ASX100 (or even ASX200) stk offer such a return.... along with revenue/earnings/divs growing at 10-15%??
JB Hi-Fi did very well in 1H09 but its results were skewed by 10Billion Rudd splurge in December 08. Hence, i have reservations that JBH can repeat its gangbuster performance in 2H09. In addition the JBH PE is very high and div yield is ordinary.
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