No Retail Therapy Here
09/21/2004
I'm not much of a fashion icon, a fashionista or a fashion guru. But, I know when it ain't looking good for key fashion stocks. First House of Fraser takes a hit as some potential bidder shareholders, including Tom Hunter, depart off the shareholder register.
The strength of the fall suggests no quick rally up as the stock falls like a knife to 100p. Any support at 110p would mean a miraculous change of heart by the market.
AstraZeneca falls below 2300 herald sellers pouncing like vultures I reckon. All because the US Food and Drugs Administration was not given approval by another body over Exanta. This is a problem as the company loses patent exclusivity on other drugs (cancer, cholesterol and ulcer one)
Gallaher is on crashing and burning - you might say it is on fire and boy, where there is smoke there is certainly fire in this case! Definite downward trend now.
EMAP not only shows an upward trend but good momentum. It continues acquisitions with last weeks purchase of Cannes Lions Festival purchase.
Go-Ahead Group continues showing strength in August. It's those 1300p levels of April which would be a 20% rise from current levels which must be the target. It has doubled in 18 months.
Cairn Energy : Sucking up all the oil in Western India. But as it enters the FTSE 100 it is common for such stocks to fall, not rise as you might expect on fund purchases. Rumours continue of India's Oil and Natural Gas company mounting a takeover for the FTSE 100 company. Remember many brokers have set a target of 1500p and so the stock is likely to bubble around there at most unless there is a bid, or more bubbling crude in them there deserts of India.
Drop me an email on alpesh.patel@tradermind.com if you would like a free multi-media CDROM and 50 page e-document on 'Investing Better' or order the full 14 CDROM set from the ADVFN online bookstore.
Crazy Small Stock
(Back next week)
M&A Target HitList
Here I want to highlight some stocks in my view with a more than 50% chance of getting some boost from bid related activity. It's speculative and not for the faint hearted. My rational is based on a combination of performance, assets, possible synergies with possible bidders, latent value. Looking at last weeks mentions - ebookers is up 50% since I mentioned it - come one - not bad for a week's work for you is it.
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