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TOPIC: ENRC possible day trade

ENRC possible day trade 13 Dec 2012 08:29 #1

Shotry OFFLINE Junior Boarder Posts: 368 Thank you received: 199 Karma: 10	I've moved my stop to 266 so I'm risking only my costs now.
	All it takes for the triumph of evil, is the silence of 'good men' The administrator has disabled public write access.

ENRC possible day trade 12 Dec 2012 09:10 #2

Shotry
OFFLINE
Junior Boarder
Posts: 368
Thank you received: 199
Karma: 10

screencast.com/t/4ylXfWjbB9R

Stops below 260 target around 280/281

High risk. City downgraded it to sell with a 180 target yesterday on the basis of debt burden being higly likely to threaten it's banking convenants following it's recent acquisition. Risk return looks ok, but may be not a hug and hold.

I'd be interested in views. City's view that the recent acquisition will threaten it's banking covenants seems odd to me. Would ENRC management not have to clear their recent acquisition with their backers?

All it takes for the triumph of evil, is the silence of 'good men'

The administrator has disabled public write access.