Morning Report Wednesday 27 August 2014
4 Major stocks go ex-div today, should we take the $$$ and run?
Over the past few weeks, a few decent buying opportunities have presented themselves, including me buying Myer Holdings (MYR) yesterday – see intraday alerts (we are improving phone delivery asap). Over the last 5 years since Myer listed at $4.10, it has been arguably my most disliked stock, never managing to trade above the float price. However, with the Jennifer Hawkins’ factor a distant memory and the stock trading over 40% below its issue price, I have turned around and purchased the stock. With David Jones taken over and delisted from the ASX, Myer is currently yielding close to ~7% fully franked and discretionary retail is trying to awaken from its slumber. I see excellent fundamental and technical risk / reward from the stock. A very important asset that successful traders / investors possess is flexibility; let’s hope this Myer investment becomes an excellent demonstration of this on my part.
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