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Absolute jewel
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furnaces
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21-May-2007 15:16
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Suddenly the buy queue from 1k+ in the morning to 4k+ now. The wall at 0.18 i suspect is put by Advance to prevent the price from going up so that they can convert more notes. Without it who knows what price will Contel be at already. |
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sohguanh
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21-May-2007 15:13
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Centaur: not only you action but a lot of ppl also action. Look at the Buy Up queue it is amazing :) |
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Centaur
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21-May-2007 14:59
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don't think contel intend to distribute dividends in the next couple of years. Mb thats why few pp are attracted to this counter. anyway, its action time for me |
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sohguanh
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21-May-2007 14:32
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With today latest announcement it all speaks well for Contel. I cannot understand with such good financials why isn't the share price moving up north? I guess this is a largely undervalued stock. It would be good the stock give some generous dividends to attract ppl to this laggard stock. As of today 17-18 cents is still quite a steal. |
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Centaur
Veteran |
21-May-2007 11:47
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Should check with management why got this type of lobang don't issue rights instead. Benefit s/rholders better than benefit advance. |
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furnaces
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18-May-2007 18:20
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Advance is busy converting notes now due to the low price now. I can see announcements on notes conversion almost every week. They are already at tranche 5 now, 5 more tranche to go. Should be able to see the light once the dust settles. |
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Centaur
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18-May-2007 11:49
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Must be good news for advance. They can get more shares at 15-16cts at current price... |
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Investsmart
Senior |
13-May-2007 19:11
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What the agreement between Contel and Advance ?? How many shares are being issused / placed to advance ?? |
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rayphua
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12-May-2007 11:43
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Short term wise, tough one to call. TA wise, a bit more down side to go, and upside cannot yet be confirmed as there is no higher bottom yet. Using last Friday's volume doesn't tell me much; if you look at the volume surges in the past there usually is no follow through. Should not go in now if you're not in. |
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furnaces
Member |
12-May-2007 08:18
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Very strong support at 0.17 to 0.175. I guess at current price level it has already drawn alot of attention from funds and big buyers. High volume of transactions everyday. The short term trend is not that clear but one can hold for medium to long term gain. My 2cents. |
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Investsmart
Senior |
11-May-2007 21:24
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Has a strong support at 0.18. Would think that there is room for upside. Comments pls |
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nsengkia
Member |
11-May-2007 14:08
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My sentiments exactly. |
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Centaur
Veteran |
11-May-2007 13:40
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Thinking of buying more at the current price. What i don't like is too many shares issue to Advance at too cheap a price. :( |
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nsengkia
Member |
11-May-2007 13:10
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BTW, for the record, I am vested as I do agree with donaldduck that the fundamentals of this counter does look very good. |
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nsengkia
Member |
11-May-2007 13:08
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Agree that cannot tell if Advance (or for that matter any other Big Boy) is selling or accumulating as of now. But what is factual is the terms of the conversion which is 90% of the average price of five days, the five days being up to Advance to pick. So Advance is definitely picking up cheaper than the market price and if the market price drops they get to pick up even cheaper. |
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Centaur
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11-May-2007 12:01
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Say, if advance keeps selling at current market price, with so much shares in hand, wouldn't the market need some time to absorb all those shares before contel can move north? Also, advance must have perform their due diligence if they are currently selling, if not wouldn't it be better for them to hold instead? Lastly, we are not even sure if advance is selling or accumulating as of now.. |
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nsengkia
Member |
11-May-2007 11:46
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Advance Opportunities Fund only have to report if their total shareholding crosses 5% and from them on. If they convert for shares at 15.66 cents (see conversion announcements) and sell at current market price and thus keep their total shareholding below 5% at all times, then there is no need to report. |
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furnaces
Member |
11-May-2007 10:51
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I suspect Advance Opportunities Fund to be behind the selling too. But since they are substantial shareholders, aren't they supposed to report their sales to SGX? And i have not seen any. I'm not too sure about this regulation though. |
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rayphua
Member |
11-May-2007 10:29
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TA update - Things are looking a tad better. Smart money flowed in yesterday. |
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nkokhin
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11-May-2007 10:16
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One challenge I have with this counter is whether Advance Opportunites fund is a long term investor. They have converted quite a lot of shares at a fairly discounted price but I have yet to see Contel report an increase in their holdings. Therefore, not too sure if Advance Opportunites fund is also behind the current selling. There is a perverse incentive for them to push down the price because of the terms of their conversion. Any comments from other forumers? |
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