I almost bought six weeks ago. Was just about to pull the trigger and then the announcement came out. Glad I didn't. Have a large parcel of fiat ready to jump in but held off. Feel this will hit 25-26 before to long. Then I'll jump in.
Chart still a big worry imo. I would be standing back and waiting for confirmed positive direction, just my opinion.
Well fwiw, Clime's 'stocksinvalue' valuation service has a model portfolio that includes WOW. They just sent out a notice to subscribers that they had reduced the cash position in their model portfolio in favour of a few preferred equities, one being WOW - upgraded from 2% weighting to 3%. They reckon ASX stocks should go higher because: * Expected continued weakness in $A * Local and foreign attraction to relatively high yield ASX equities * Expectation of lower interest rates * Gobs of global liquidity They also opened or enlarged positions in AGI, CCP, CSL, DSH, FLT, TRS, WBC by reducing their model p/f cash position by about a third. Looks like they still have 21% in cash equivalents which include significant amount of US dollars
It is if you know the share price won't deteriorate further. I'm not betting on that yet, fwiw. You will get your dividends but be buying a stock in a strong down move. 'Speculation' at this time is the word, not 'park' - too volatile for park. Where is there a sign of a positive reversal? Monthly volumes have been strong as price declines. Anyone like WOW's chart?
In that case, yes, I'd be buying at 3 year lows, absolutely. Buying for medium term capital gain? Meh.
Down again $27.570 http://www.asx.com.au/asx/research/company.do#!/WOW Wow has poor management and very bad corporate plan. The CEO must leave. If Masters can't stop haemorrhaging in this hot property market there is no hope when the RE market tumbles. Plenty of time to buy this stock but not yet; be careful the banks don't drive the whole market lower. Good time to be in-cash imo...Yellen is screaming the US market is too hot! World markets could see a decent drop. http://hfgapps.hubb.com/asxtools/Charts.aspx?asxCode=WOW&chartType=3&volumeInd=9&TimeFrame=D6
Petrol sales down 20 per cent on volume and 35 per cent on price at Woolworths in last quarter alone. Heard it on Tom Elliott show. Woolies share price now lower than 2010. Stay in cash for now. Big 4 Bank shares have had a more than 10 per cent correction too.
Thanks for advice, all! Shall keep saving my pennies and have it ready to go for when I feel it's a good time to jump in. Never tried shares before, but the idea of dividends appeals to me.
Bargains are had when there is blood on the floor. I'll be taking the opportunity to average down soon. The 8 year low price is around the $25 mark. Those in for a long term play should do well with anything under $26, if it gets that low.
I don't know a lot about charts but read a gap had been filled at 27.xx. Then the same commentator said a gap still existed at 25.50ish. If it fills that gap I'm in.
