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Online Share Trading

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Time to buy?

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barry_1
Super Contributor
This is the usual time of the year that i start buying Richmont,a share that has never let me down yet.As most of u know i keep ,till after LDT date.The price has stayed very even during the past year.Read the excellent SENS issued yesterday.Being a rand hedge has its advantages as at last years payout the Euro was around eight to the Rand,this year its around 12.This will on this ground alone increase the dividend locally by a third! Declaration seems to have moved forward a month and now is in May.They also hold the tobacco interest and there is speculation they might set this adrift and pay a dividend in specie.I dunno when they might make that move though.
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11 REPLIES 11
barry_1
Super Contributor
i'm buying RCHSTB
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barry_1
Super Contributor
Richemont(spelling mistake) sorry
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Not applicable
OMLSTB is also going to give a great dividend return on its current price!
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Electrox
Super Contributor
rand hedge stocks holding up nicely. I think its a good time to get in these. barry would you wait a while before buying maybe around the 43.40 mark?
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barry_1
Super Contributor
ja,good idea if u can get in there abouts.i'm prepared to pay more,but will of course try to buy at the lows.
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barry_1
Super Contributor
That should read around 12 Rand to the Euro this year and last year around 9 Rand to the Euro ,not the other way round. and yes in rand terms even if the dividend stays the same ,we shall receive a larger pay out.How ever i expect abetter result.See SENS.
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Electrox
Super Contributor
barry it seemed like it was the right time to nuy, but i didnt get in yet. how much higher price are you willing to pay for RCH?
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Electrox
Super Contributor
ascending triangle formed from 24dec07 high and accending support line from 23jan08. a break to the upside,add long position. you see the same?
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Electrox
Super Contributor
same thing happened from the 6june to 10 aug 07. but there were a couplr of false break, but it di shoot up from there.
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barry_1
Super Contributor
With all the hollidays coming up next week,an unbelievable only two trading days,there are likly to be some random downward moves as well,then i'l try to get some more.Would not pay much above where it is now for installments.If u want to hold long term or till break up which might be waiting for market recovery then probably worth 10%more can be payed now.In MHO.
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divz
Super Contributor
Agree Barry would like to see it go strongly through 4700 which is the support of the last up trend starting from Nov 2006 it will then enter that channel again.Used to trade on support and resistance of that trend and used to work very nicely until the drop in Jan this year when i bought ssf on support only to see it drop through.Actually surprised that it did considering the weakening of the rand against EURO since Jan.
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