Forum Archive Index - November 2002

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi Phaedrus, and Bill!
 

> 
>It is interesting to view an update of this chart. Note how good
>the trendline break Sell signal was. The moving average crossover
>Sell signal was a bit slower, but still gave an excellent exit
>point, well ahead of the current weakness.
> 
>Phaedrus.
> 
>

Damn, so I missed out on selling my GMF shares ;-) !

I guess you can tell that I'm not too concerned about the share price 
fall....

5c of it can be explained by the shares going ex dividend.  The rest 
of the 15c fall after the chart 'sell' signal is not too far out of 
line with what has happened in the broader market.  Meanwhile the 
company itself continues to buy its own shares by way of a share 
buyback.  It is all part of the goal which will see ROE rise to 15% 
consistantly, as GMF seeks to break out of commodity dependency..

There has been a poor grain growing season in Australia, which may 
put pressure in margins on the bread and baked product side of 
the business.   Hey that's all of it!   Perhaps they should move more
to higher margin branded product?  Ah, that's right, this is exactly 
what they are doing!

SNOOPY

disclosure:  Hold GMF, and am happy to continue to do so.


  

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