GTP 0.00% 12.0¢ great southern limited

Great Southern - Here We Go Again

  1. 10,543 Posts.
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    I don't reall need to tell anyone this is my favourite trading stock. I decided some time ago to find a stock that had as impressive a set of fundamentals as possible and was coming off being trashed for one reason or another and GTP was it. (Not going to go back over the history now though...)

    Though I hold long term position in this stock I'm also trading it and posting what I'm doing as well as forecasting retracements.

    GTP as a rule trades quite nice retracements whether its going up or down though the tsanami that occurred when the Special Dividend and DRP were reintroduced made for a pretty rough ride (albeit with spectacular profit opportunities that I largely missed bugger it!!)

    Still, anyone that has been following these trades from Sept / Oct last yea is still a long way up.

    Last entry into this stock was from a retracement that finished around 51c. I was lucky enough to get quite a bit of stock around 52-53.

    GTP has subsequently risen to 71c through a minor retracent which I intially viewed as complete but in the light of recent trade (ie the last few days) now think was just part of the rise.

    When the 71c mark showed as overbought on MACD I posted a retracment target of 60c and sold my trading stock at av 68c.

    The retracment now based on the 51c low shows to me to be 58c and I have rebought into GTP over the last day or so at av 59c for the next run.

    As always do your own research. This stock has been good more often than not to those who have traded it.

    We are of course looking at 94c of NTA, virtually nil debt and a retained profit from last year of around 6c per share. GTP management apparently decided not to pay a final dividend at the moment on the basis of the 30c special dividend they paid earlier in the year. which wasn't bad on a (then) 90c stock with NTA of $1.24. The change in nta resulting from the entire dividend effectively being paid in scrip.

    As always I welcome any feedback (even brickbats) but lets see how we go.

    Cheers,

 
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