Jup Ord. Share Discussion Threads

[gary1966] 16/11/2020 12:20

Selling most of my holdings and shorting the market last week after initial good results on a vaccine not looking like the best decision. Add in the mix that other trial results were known to be due makes it look like an even dafter one. Just wondering how much further the market will go whilst in overbought territory.

[skyship] 15/11/2020 13:58

sp - at c3.30p sure seems right to buy ahead of Tuesday's Interims.

Sadly I took my EPIC profit way too soon - should have let them run as you have done.

[starpukka] 13/11/2020 17:42

Sky, bought into SREI today .

I still hold EPIC. Had been planning to sell but the thing keeps going up.

[skyship] 13/11/2020 11:14

SREI Interims next week are IMO extremely unlikely to show an NAV as much as 3% down on the Jun'20 valuation of 57.70p, but if so that would deliver 56p and a discount still at 40.2% @ 33.5p.

Compare that with 4 peers:

# BREI @ 60p. Disc. = 36.7%

# MCKS @ 212p. Disc. = 35.6%

# PCTN @ 73p. Disc. = 20.8%

# SLI @ 60p. Disc. = 23.9%

SREI crazy good value. I've re-opened all positions sold into the rise.

[starpukka] 12/11/2020 16:24

Yes, Santa, the tooth fairy and Boris Johnson's dad. :-)

[gary1966] 12/11/2020 14:33

Is Santa excluded from lockdown? :-)

[starpukka] 12/11/2020 12:11

Don't forget the Santa Rally guys. But I guess, Gary, you will probably be out by then.

[skyship] 11/11/2020 16:05

Agreed - perhaps half now and the other half into a further rise.. Holding off for the moment though...

[gary1966] 11/11/2020 16:03

Thanks Sky, sorry updated my post above while you were preparing your reply as I decided to enter. I had considered the 6500 level might be a bit of a magnet but the RSI is so overcooked already.

[skyship] 11/11/2020 15:58

Gary – November has thus far delivered a FTSE rise of 14.4% in 8 trading days!

The rise looks overdone and I’m mightily tempted to re-open a SUK2 short; however that resistance at 6500 is still up there, representing another 2%+ rise. So personally holding off for the moment.


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[gary1966] 11/11/2020 14:29

Decided to take the plunge on SUK2 at £6.7609 with the FTSE around 6383. Surely got to take a breather with a 900 point gain from the lows on 30/10.

[skyship] 11/11/2020 14:12

I missed out on the RSA bid; but perhaps an opportunity still to make a turn there.

It seems inconceivable to me that the buyers would not wish to cash-in the 7.373% prefs (RSAB) rather then continuing to pay over market odds for a small corner of debt.

At 126p the yield = 5.85%. A cash offer of 147.5p at a yield of 5.0% would surely be accepted by all. It would also offer a cash profit of 20.75p for buyers at 126p + exps. That = a 16.4% turn......so I'm in for a few.

NB: There is no bull position here; so if they don't bid, I'm just left holding a reasonably high-yielding cum. pref.

[skyship] 11/11/2020 07:40

Well, we're having to look at REITs now on mid/high 30% NAV discounts rather than the very commonplace 40%!

MCKS had been left behind, but started to make up lost ground yesterday - posted the fact there, but not here - should have done so, but was all rather hectic...

BREI & SREI still on 38.5% discounts; though SREI is still on a Jun'20 valuation.

[starpukka] 10/11/2020 21:47

SUK2 would be excellent for a pull back but could also blow up in your face.

Sky, are there any undervalued Reit's left now ?

[gary1966] 10/11/2020 20:03

Sky,

Should have bought SREI and well done on RGL.

Are you tempted to buy SUK2 back with the RSI on the FTSE over 70?

[sharpshare] 05/11/2020 17:05

Got some JZCC recently
Looking at the latest balance sheet today the CULS terminal payment in Jul 2021 should be doable with a few more sales.
JZCP has been a shambles with cheeky fees too!

[sharpshare] 05/11/2020 17:01

Sky
Thanks for all your good posts, Keep it up!

[gary1966] 05/11/2020 16:23

Concerned with how far the markets in general have bounced over the last few days and so would like to utilise the money on weaker days.

[skyship] 05/11/2020 16:17

Gary - good trade, well done.

With SREI - they advanced above 32p today, then backed off to 31.5p - IMO a good entry point as more people will surely be recognising that, with the very likely resumption of the buybacks on the 17th/18th, a renewed upward move almost a certainty.

[gary1966] 05/11/2020 15:22

Sky,

Thanks for the heads up on EPIC. Really like the company but it has had a good run since my buy a month ago at 46.7p and so took a good profit at 56.44p today. 2 and 14 day RSI quite elevated and so hoping for a retrace towards 50p and it can all go back in again.

Have added SREI to the watchlist as you seem very keen, but would like to get them nearer 30p.

All the best,

Gary

[skyship] 04/11/2020 16:05

GRIO - certainly too many risk factors for which the discount & yield don't compensate. IMO better value to be found in the REITs.

[sharpshare] 04/11/2020 14:27

GRIO can now be bought at 71.9p
NAV 110p
discount 35%
yield 5.5%
bad debts effectively zero
very low LTV

risk is change in regulations, high expenses, uncovered dividend and liability for defective building cladding

[sharpshare] 04/11/2020 14:15

SDRC now trading at a near 20 year high discount to SDR of around 31%.
Reminder that SDR has same economic rights as SDR but no voting rights.
yield on SDRC at 1880p with 114p div is 6.1%
yield on SDR at 2746p with 114p div is 4.1%

Tracker funds can buy SDR as it is in the FTSE100 but not SDRC which might explain some of the growing gap. SDRC looks much better value. Family effectively controls ordinary voting shares anyway so no real point buying SDR for private investors.
If SDRC ever gets voting rights then a 50% gain is possible. In the meantime 6.1% progressive yield is nice at a well run company.

[skyship] 01/11/2020 13:34

Monday's futures showing c5500, ie through the FIB 61.8% level. We'll see soon enough; but I suspect a bounce back up from there.




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