Logica LOG

Finally bought back at 854 late on, a pure gamble and seeing the way the Nas is going i may have blundered.
Should have waited until the morning but i'm confident on next week.

You may well be right........there is opportunity for profits from this stock, with a margin of 200 points between the BB's, and opening and closing at 835, having traded between a low of 796 and a high of 870 on Friday 15/06.

I am ready for the reversal
Still holding and gambling on this one. I could and maybe should have banked the profit at 900 late Friday but i let gut feeling rule.
It may get marked down on Monday, in which case i'll have missed the opportunity to squeeze more from it but then again if the market rallies this could easily move back to the upper bb.
After performing a big bounce from 615 to 805 in 3 days, just as most thought it was time LOG went higher, another PW rumours passed around on Thursday causing the price to dip back to 700 (now 710)... It turned out to be a Eropean institution shorting LOG big time seeing the last bounce wiping them out spreading unfounded rumours that LOG was just about to announce a profit warning...only LOG is still sticking by its June trading statement which was upbeat...

Once this is out in the open watch another struggle of shorters, this time seems to be big institutions, pushing the price up...very short time at least 800, mid term 1000 I'd say, so long as the company sticks to its previous statement...

Hope you got something out of it Riz.
I thought what happened was disgraceful to say the least.
Start a rumour and short the stock on the back of a very rapid substantial rise .. a rather devastating ploy and after the Moni debacle even more effective.

LOG reassured investors yesterday "that pdv, bought in October for £370 million in cash, had enjoyed a smooth integration and was holding margins ahead of the group average. The release of an upbeat statement so near to the full-year results next month provides confidence that Logica will hit City targets."

This started positive comments and buy advises in the press, here are 2 of them worth reading...



LOG been trying to rally, Steve...I'd have gone long early this morning if it wasnt for the spread...now +ve, L2 quite strong, on top of my buy on dips list, and of course Sir's short list :)

Trust you picked up a hat full on Thursday and yesterday morning then Rizz. I did, but there sold now. Could see 750 in run up to results which I dont expect to be good. Im told that their utilities/power division - one of the most lucrative parts of the business has not met this quarters target. Also, week commencing 16th July the company laid off a number of staff at its London office - this has not been made public, as far as I know. However, I dont feel LOG will give me the safety buffer Id require to short into their results so im just playing LOG intraday as I see it. Whatever, LOG is king of the swingers and a great share to trade.

PS. ARM down 41 points this week. 250 to go by mid September IMO.
Been trading in a range of 660-740 for the last month, Sir...having touched 740 twice end of day and many times intraday...this says it all, with a bit sense of right timing the trade it's there to make use of swings almost every day...Why do you think Steve keeps coming back to it if not to inflate the capital more and more:)

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Steady on Riz ... i'm only a small player and i could get my come-uppance tomorrow ... i've left my position on LOG open overnight despite todays rise. The MMs did'nt perform their usual trick of pulling back the price to suck in the sellers probably because more buyers would have moved in.
Could be wrong but it can't do me too much damage (i hope)

So where does LOG go from here? This must be the hardest one to call lol...

It's obvious that private investors and insititutions are reading LOG's trading update differently or private investors' love with LOG is deeper than I could imagine...for the last 2 days after the disappointing trading update LOG lovers didnt stop buying it at any level between 720 and 660, many users of our chatroom among them, thinking LOG was the most non-fallable knife falling at the time and considering it the biggest buying opportunity...thus instead of shorting it all the way down they kept longing it...

Mind you LOG also caused analysts divide on it...after all it's first time LOG accepted at least part of their business, its mobile networks division, will not meet expectations...which was enough for the price to fall from 830 to 660 (170) in 2 days...

So where does it from 660? Well LOG is obviously not going to end up like some dot.com dogs in a penny share...it should therefore stop falling and start trading in a range at some point...a look at the chart and indicators suggesting further falls still possible, but bounces also on the card...

It looks to me that we're going to see LOG trade between 600 and 720 for a while with lots of bounces making it a nice share for day/short term traders...but also so volatile that can hurt anytime and change direction very frequently...

Me, I like such shares, been on the short side since the trading update, going to watch it very closely to trade both ways, preferrably long as close as possible to 600 and short to 700/20...



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LOG heading the bottom of the trade range suggested in the earlier post, ended the day down -16.5 (-2.6%) at 618...Will it hold and bonce from the bottom of this range? The last candle pattern, stochastics being o/s and rsi about to go flat near a level where it previously formed 2 bottom suggesting so..still 600 not far away, next sessions will show if the suggested tradign range will hold or we'll see a lower one...



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