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Re: [sharechat] GMF

From: "andrew cottingham" <>
Date: Sat, 17 Aug 2002 18:50:54 +1200

Whilst the share may currently be in an uptrend, it would seem prudent to be
aware of the resistance line from 1999. The share has tested this area
several times recently and has also been forming a 'Rising Wedge' for some
(The rising wedge is considered a bearish pattern that begins wide at the
bottom and contracts as prices move higher and the trading range narrows).


----- Original Message -----
From: <>
To: <>
Sent: Sunday, August 18, 2002 6:11 AM
Subject: Re: [sharechat] GMF

> Hi Phaedrus,
> Well, wasn't it you that said all trends end eventually (or words to
> that effect).  This one has been steaming along upwards for over a
> year, which I guess goes to show that if you look hard enough there
> are shares in uptrends even if the market overall is in a downtrend.
> I guess my remarks may have been a little cryptic in my earlier post.
> I had in my mind that if it was the 'old' Goodman Fielder I might be
> looking at selling out.  However, if you look at the fundamentals
> (sorry to mention the 'f' word) I think things are changing.  If GMF
> can indeed break out of the 'commodity' food business then perhaps
> this uptrend may be sustained for quite a bit longer.  Very easy to
> say I know, but rather more difficult to do with the troops on the
> ground.  Personally I think new CEO Tom Park is on the right track.
> So I am no longer in any mind to sell GMF until I see more of what he
> can deliver.
> Thanks for the chart by the way.  I think a lot of the uptrend can be
> explained by the fact that GMF is having a share buyback on market
> at the moment.   I always like these, as it is a good way of shaking
> out the weak sellers.  However, the buyback won't go on forever, and
> it will be interesting to see if Park has some as yet unspoken
> rapid expansion plan for the remaining businesses.   He might
> even start looking at acquiring some dubious business that would
> cause the share price to pike.   Hence my suggestion that GMF should
> be 'watched'.  I guess I am suggesting that this might be a case of
> looking at the fundamentals to determine the likely direction of
> future trends.  Interesting times for GMF!
> Snoopy
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