Forum Archive Index - December 2001

[Sam and Jerry <samjer@xtra.co.nz>]

Hi Nick et all

I agree with sentiment about Rebel Sports: not only uninviting on the outside,
and off the beaten track in Christchurch, but also souless and confusing inside,
with no service to speak of ... which seems rather inmportant with buying sports
equipment.     I tried to buy running shoes there, and gave up  after trying on
ten pairs, none of which appeared to have any arch support.  I finally found
someone to ask about this,  who seemed totally bemused by  the idea that surely
cross-trainers should offer some support to the foot.

Anyway, in terms of yesterday's opening of BGR,  I could be reading things
totally wrong, but was anyone else checking market depth?

The market depth from 8:45 am  had bids  from 10 to 20 cents higher than the
offers, yet no sales took place until 9:45.  Since the volume of buyers  kept
jumping up and down massively within seconds, it did look to me like the
institutionals  were putting in bids higher than they intended to buy, (target
orders)  just to ginger up the market,  with the full co-operation of our stock
exchange.

Surely when the market opens, all bids and offer should be actioned as soon as
they are received?  ALL  that BGR market depth in the opening forty-five minutes
yesterday surely couldn't have been target and stop loss orders?    Is it legal
for a stock exchange to not trade  shares without giving notice that  trading of
specified  shares have been halted for a given period of time?

I could be very wrong, but it looked to me like with all the pre-float hype 
about
how great the demand was for BGR shares, that after the initial feeding frenzy,
which might indeed go on for days, peters out, the shares will drift downwards.


Generally, it seems better to hold off buying shares until  mid-January after 
the
U.S. investors stop their tax-loss selling this month.  (Although NPX (Nuplex) 
is
rising nicely, and is a very good company: resins and coatings and medical and
hazardous waste treatment.  The shares have been down because they got the
valuation wrong in one of their waste treatment acquisitions).


Cheers all Chatters


The Other Jerry





nick wrote:

>      My perception of Briscoes and rebel sports is that people only
> go there when there is a big sale on. Who ever pays full price for
> sports shoes in rebel sports?
>        I think come feb there could be 5% to 50% off all shares!!
> However unlikely 50% cause those special offers always mysteriously
> vanished when in shop.
>         Could be right about the rebel sport building on moorhouse, but there
> some stiff competition on that street. Some ugly big shops between those
> car yards.  New big byte looks quite flash though although all front no
> substance
>
>       Nick
> > >
> > > I bought BGR at 1.42 today. can you all believe that $10m got traded
> > > in that stock alone! that is normally about 10% of the average daily
> > > NZSE turnover. there is some interest there, thats for sure. i dont
> > > know if it was a good idea to buy, but what i am hoping is that in
> > > the Weekend Herald and other weekend papers, all the cliched mums
> > > and dads will read about how well it did today, and call their
> > > brokers on monday. wishful thinking maybe, but then again....
> > >
> > >
> > Sounds like you are punting a bit here.  You won't get any comment
> > from the chartists as you can't chart a single point.  I haven't
> > researched Briscoes myself, other than in the most cursory way.  Am I
> > right in saying that even at $1.40 the projected yield is still
> > attractive compared to say 'the Warehouse'?
> >
> > I always wonder about these companies predicting steeply increasing
> > earnings in the near future.  My memory is that this is the case
> > in the Briscoes's prospectus.  What do you see as Briscoe's
> > competitive advantage, compared with, say, 'the Warehouse'?  The
> > Rebel sports chain seems to be doing well (?).  But then again I
> > don't frequent sports shops  that often so what would I know!   I can
> > tell you that big Rebel Sports store on the corner of Colombo Street
> > and Moorehouse Avenue in Christchurch has to take the prize as the
> > ugliest building in the city! SNOOPY
> >
> >
> >
> > ---------------------------------
> > Message sent by Snoopy
> > e-mail  tennyson@caverock.net.nz
> > on Pegasus Mail version 2.55
> > ----------------------------------
> > "You can tell me I'm wrong twice,
> > but that still only makes me wrong once."
> >
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> >
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