Polar Capital Technology Share Discussion Threads

[karmicpete] 22/10/2002 23:27

Fair comments. I have traded warrants for years and so realise the nature of the beast. You are correct there is a greater risk trading these, but the returns can be spectacular as well... just depends on your personal risk profile.

Regards,

Pete

[ashtongray] 22/10/2002 22:25

Plus worth repeating that gearing works both ways. IF the DOW/NAS decide to retest previous lows, the warrants could be pulled down quite sharply. And as MH says, the market makers have the upper hand here. not only on nms, but in a weak market the spread would also widen sharply, so offer prices would suffer disproportionately.

This is not to say that the warrants are not an interesting punt, I trade in and out of them fairly regularly. But peeps should be aware of the risks: these animals can bite.

[mh] 22/10/2002 22:17

Pete,I would agree with a lot of what you say here but would add one significant caveat in case anyone thinks they might be as easy to trade as ordinary shares,because they are not-they are very illiquid,carry greater inherent risk and have a very small NMS meaning the market makers always have the upper hand on trading.That's why all brokers require a special signed mandate before permitting clients to deal in warrants.

[mart] 24/9/2002 10:24

Possible to get these for about 18p!!! Or is this just another falling knife?

[energyi] 21/8/2002 00:24

Discount: 123/ 140.44p (Friday's NAV) =

NDX was up 3% yesterday to 1026, suggesting...
Today's NAV could be: 140.44 x 103%: 144.65

123/144.65 = 0.85 0r 15% discount

[yaco] 20/8/2002 16:47

Does anyone know what is going on with the warrants (PCTW) today? There were quite a few very big/unusual trades.

[ashtongray] 09/8/2002 13:08

Could the NAS be bottoming out this time? Seems to be showing more resilience lately, if we can get through next few days without more worldcom type disclosures, might be basis for a relief rally at least. doubtless this PM will prove me wrong, Friday after 1630 BST is usually the signal for the DOW/NAS to do something entirely unexpected.

[energyi] 09/8/2002 11:38

Discount: 120/ 136.24p =

[mart] 08/8/2002 10:29

Still nibbling when the warrants are sub-30p.

[energyi] 06/8/2002 16:56

Yes. That was a great WT price!

[mh] 06/8/2002 16:16

Hope you bought some Mart ! Unfortunately I was still in bed when they were being offered on the plate this morning,what an intraday recovery.

[mart] 06/8/2002 09:03

Warrants now at 20-23p. Mmmm.

[energyi] 02/8/2002 21:24

PCT: 118/135.2= -13% Discount

[mh] 29/7/2002 22:03

ashtongray,it will indeed.It all seems too weighted to the likes of ARM,LOG,MSY at the moment but it should spread soon I think,as momentum builds.

Tell you what tech heavy I.T. has been very strong so far,HRI.Deservedly so really, increasing NAV and still on a silly discount.OK, not such a geared play as PCTW but worth looking at nonetheless but perhaps more for a longer term investor play as the spread is quite nasty.

[ashtongray] 29/7/2002 21:47

Bought FTT instead late today, unusually they havent responded to NAS strength yet, but surely will tomorrow. Will be interesting to see what PCTW does tho!

[mh] 29/7/2002 21:42

As I was saying.

Come on then,which of you gamblers are in the warrants then ?

NAZ ON F - I - I - I - R - E !!!!!!

[eugene1234] 29/7/2002 21:38

cheap cheap.

[ashtongray] 25/7/2002 13:52

Yes, think they are expecting NAS to give up a chunk of yesterdays gains, what with profit taking + the AOL/Time warner worries.

[mh] 25/7/2002 11:38

What the hell were the market makers doing marking the warrants DOWN to 33p this morning after the open markup,are they on DRUGS or what ? Buyers since seem to be forcing their hand to nudge back up a bit,have they become so cynical that they are anticipating a Nasdaq retrace already,maybe the reason why the bounce in the ords is so pitifull.Must admit I'm quite taken back by that.

[energyi] 25/7/2002 11:17

As at close of business on xxx, the unaudited fully diluted net asset
value per share, calculated in accordance with the AITC formula was:

23rd July 2002: 136.25p and undiluted was 142.85p

Will post the 24 July figure here later