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Re: [sharechat] value, or mayhem?


From: "David Renwick" <david.renwick@paradise.net.nz>
Date: Sat, 28 Sep 2002 00:48:39 +1200


Hi Holden,
 
Beats me how they can continue paying such a high divvy c/w earnings. Borrow to pay the div? I haven't read the last report. The market is realising the potential loss of value as it's been
in a steady downtrend for the past 5 years and the divvy is reducing too. The high p/e I could justify if the growth was phenomenal but is it? High p/e more acceptable in a bull market, but we ain't.  Some successful traders don't attempt to rationalise - they just react. This stock is in a short, medium & long-term downtrend. Check it out again before cum dividend. See how the price/chart had little falls then rises every 6 months fot the last 4 years. Consider buying it on weakness but it's hard to pick that when it's trend is down, down, down. Some might buy when the down trend breaks. There is a support at $0.57 and some good volume today at $0.57 - might be chartist!
Give me some feedback too. 

 
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