AZJ has been a good large cap trading stock for the boys in the garage over the years.
Trades sideways in defined up & down trends, always been a good example of turning 'low risk into acceptable return' by the magic of 'frequency of trade' mindset. You won't get 25% in a month on this one.
Reason why I'm mentioning it now is it had a significant retracement on FY numbers, numbers weren't that bad but board seemed to sacrifice a good divvy for a $150m buyback and the lads love trading large caps with buybacks active in market.
Low risk will support a relatively large transaction size chasing 5%, if you can jag it 4 or 5 times over life of buyback that's > 20% without much risk or time.
Let it settle, wouldn't touch before ex divvy date for obvious reasons (26/8?) then on the WL for a sequence of trades.
Bit of drama down here, when the BH, hound & I are up in SYD the daughter and her mates house sit, have started to do some work on the garages ATO tax and looking at expenses too be claimed, absolute huge almond blow out concerning the winged TA crew on the rail. We switched from the Coles distribution network to a upmarket boutique supplier in Canberra, the daughter manages the supply chain as she is back and forth from Canberra with Uni.
Looks like the squawk of 'weak hands' has gone out from Geoff & Petula to the local crew, cockies are like us they live within fairly complex family and larger community structures and been bit of a free for all when the hound and his human adults in SYD.
Cockies are sublime traders, intelligent & crafty, their ability to exploit emotional human 'weak hands' 2nd to none, the girls didn't stand a chance. Can bury $300 but the bill well over $1500, can't say much more as the auditors are in, lot of finger pointing and sheepish looks from the rail atm.
I've explained to the girls the need for discipline when feeding wildlife, cockies are smart, if you apply discipline and after 2 or 3 almonds stop they pick up on that and accept it and fly away, try explaining that to teenage girls, bit like trying to explain to a Qlder that daylight saving doesn't fade their blinds, the message just doesn't get through.
