Forum Archive Index - February 2000

["Osbert Sun" <osbert.sun@xtra.co.nz>]

Terry,

I fully appreciate your comments on Savoy. However, what the SVY share price
may do in future is anyone's guess. Now that the announcement about Savoy's
investment in the wireless technology has been made, and that the rumour has
now become a fact, the movement of SVY share price will then be dictated by
how much interest the latest Savoy's investment will generate in the broad
investment community in short term, and by the general performance of the
entire Savoy Equities in longer term. I agree with you that SVY has been
traded as low as 6.5c lately, but with only relatively thin trading volumes.
By looking back the trading history of SVY in the last several weeks, it's
not difficult to see that most people have bought in SVY at above 8c. I
cannot predict how high the SVY share price could rise in the foreseeable
future, but I don't believe that 8.5c or slightly higher price would be good
enough to triger a mass profit-taking mania. One would only need to look at
the the trading volume of SVY before last Friday's close to see the heavy
demand for SVY shares; I did notice that there were large numbers of SVY
shares being bought actually by a single party at 8.5c though the purchases
were shown in many separate transactions (reflecting the sale orders by
different individuals). Considering that SVY had been traded as high as 10c
before anything solid developed on its wireless tech deal just a couple of
weeks ago, I will be watching with great interest whether 10c would pose as
a resistance for the upswing or a new support level of SVY share price. One
last note, Savoy Equities is well linked with Asian business communities
through its parent company the Savoy Group and key shareholders. So both
Savoy Technologies and Safety Net New Zealand are well positioned to take
advantage of the fast growing economy in the Asia-Pacific region to say the
least.

Regards
Osbert Sun

----- Original Message -----
From: "terry mitchell" <tymitchell@techemail.com>
To: <sharechat@sharechat.co.nz>
Sent: Sunday, February 13, 2000 3:52 PM
Subject: [sharechat] Savoy profit-taking tomorrow?


> It is good to see Savoy rising to 8.5c last Friday but
> personally, I do not think it will rise any further.
> There has not been much pertinent financial nd business information
revealed about the company (Safety Net)that SVL acquired the stakeholding
in.
> We do not know the size of its business,turnover,depth of customer base,
market penetration etc which does lead me to believe that Safety Net will
not be making much impact on the NZ e-commerce market.
> My opinion is that Savoy, like many others before them who have sat on
languishing share prices, have decided to jump on the IT bandwagon and
congratulations to them - their share price have enjoyed success!
> However I've got a feeling that there will be many profit-takers tomorrow
when the markets open.
> SVL traded at 6.5 cents earlier last week and so for the early birds,
there will be a 30.7% profit there for the taking - and I think lots will be
cashing up.
> What do others think?



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