triceratops
16 Jan 2017
Where's the bottom.. These have popped onto my radar. I had them flagged for having good margins, no debt and an improving record of handing money back to investors via dividends. Obviously the last few months have been a shocker but as the sentiment is totally against them I'm tempted to dip my toe. I'll add the 1st tranche at 92-93p.. with a second if it falls to 80p or in 6 months time whichever comes sooner.Tops
onedb1
13 Jan 2017
May renew my short Same target for now at 75p . Still not open yet ,but next week will be interesting . I'll see if 100p does get tested and what happens around that level . But if it does not pick up momentum I reckon we'll go lower here . Sorry , just my view . No advice intended .
onedb1
11 Jan 2017
Re: Got taken at SL Took some profits and overall closed out at 96p Still think it will go lower though. May reload on this . I was in Chelsea this morning saw a £5.1m town house with 6 beds advertised from a competitor of theirs . Must say for that money I'd expect a lot more . Its very close to the Boltons , but I just cannot justify why that is so expensive . Area is not that nice nor special . I think many other parts of London are far better and far cheaper and greener ! The air alone in zone 1 or even zone 2 is so polluted . Mad pricing . Good only for the owner as with that money you get a palace in the US .
onedb1
11 Jan 2017
Re: Got it spot on i was shorting just at various levels between 100 and 110 . basically sub the 50 SMA Touched 86.75 this morning . Am actively still short . I had 4 positions fully loaded, though I took some profits today on 1 and deciding whether to reload at 95p ( I sold 1 position at 89p ) When I made my original post I was starting to lose faith in Foxt as we crossed the 50sma . In Autumn I spent some time on the long side but it had no steam . I didn't want to advertise the short (as all my shorts) as usually all bbs are Long only . But i gave the target for first profit and stayed quiet . So to be more specific I still reckon 75p plus or minus a few pence is still on target . > Don't think 86.75 will be the low . But as always I have a stop loss and that is my insurance if wrong
cruiseship
11 Jan 2017
Re: Got it spot on Morning onedb1 - does this mean you have an active short on targeting 75p, or are you just waiting to see if it reaches that target in order to buy? Sorry if I've missed something, but it's not clear to me. It's purely of academic interest to me really as have done no research into this one at all, but if it got to below 80 and began moving up a bit I might have another look. cs
onedb1
11 Jan 2017
Got it spot on RNS today highlighted the difficult market conditions for Foxtons . Now that I got target 1 am lowering my stop loss to 96 beautifully in the money here . Target 2 = 75p give or take 3p either way .
onedb1
10 Jan 2017
Should 93-95 fail am targeting 75p ! Crazy as it may sound . Took a while to breach 100p and am seeing no bullish momentum to reverse the current slump . At that level I wonder if the buyers get back in .
onedb1
24 Nov 2016
93-95 to be retested in my view 100p is just psychological , 104/105 was the fib 61.8 retrace , once that failed as we have seen today my view is that we will retest 93-95 . Sorry not a bullish post . Am not short either , just think Foxt may fall a bit more before we settle on a low that can be potential a buy again Those 2 long black candles are bearish indeed
onedb1
23 Nov 2016
Re: U.K. to Scrap Letting Fees pyueck I totally agree especially when a credit check is free lol I detest agents I noted how the retrace today took Foxtons bang on the Fib 61.8 retrace of the recent swing Failure of that level tomorrow will be foreseeing that area of 93.5-95p in my view
pyueck
23 Nov 2016
Re: U.K. to Scrap Letting Fees I'm sure it's not more than 6-10% of their revenues but that's on the top line, profitability wise it could be way more than this.Really when you think of it what a swindle charging the tenant for their own credit check! That's something that is to cover the landlord and agency and is of no value to the tenant what so ever! The agencies (not saying foxtons I have no idea) would often charge the landlord and tenant for the same thing, e.g. contracts. So passing them on to landlords will be very tough, especially as landlords are totally free to take business elsewhere.
onedb1
23 Nov 2016
Re: U.K. to Scrap Letting Fees Hi pyeuck I haven't looked at the real financial impact of such measure , but surely its not huge . or is it ? I mean I know the London property market very well and a tenancy agreement fee is not that huge a figure to have such adverse effects on profits when compared to the fees they collect on a monthly rental figure. Surely ! But I could well be wrong . Am not suggesting am right by the way . Just shocked I will dig into the exact figures if possible for Foxtons as I doubt that the profit and loss will probably not give that exact revenue detail. I'd like to see a percentage impact or nominal estimate of missed revenues . Am no fan of leeches like real estate agencies. Its hardly a real job that requires any skill. Still am not Long nor Short here , I will look at the chart soon and see where this could end and if its a buy , short or avoid as too messy . It was clearly a case of sell before the chancellors speech . Often its a smart idea to sell on a rally pre potential news . The reward for holding post news or event is usually small anyway . I will never be a fan of this business even though trading it has been a good earner . both long and short . ON this bb if some may recall I was shorting at 375p ! Though i was closing it at around 200p . I also went long loads of times. Ready for the next trade now
pyueck
23 Nov 2016
Re: U.K. to Scrap Letting Fees Apologies for my terrible spelling of fooling!One more thing to add, whether the fees when starting a tenancy are fair or not, the ones that definitely are not is the renewal fee! The tenant had no choice of which agent the landlord used and had a choice of pay the fee or get out. In fact the agent would be happy if the tenant did not renew as they could get a whole new set of fees for remarketing and letting the property.It was a charged on staying in your home, to people that may have been excellent tenants and paying the rent. I always just said to my landlord I am not renewing and going on a rolling tenancy, the landlord was always fine with it the agent hated it but it saved me hundreds and gave me flexibility.
pyueck
23 Nov 2016
Re: U.K. to Scrap Letting Fees I'm surprised Foxtons hasn't fallen more. This is a huge source of revenue for the company. If they try to pass the fees onto landlords I suspect many will take their business elsewhere.What makes me laugh is the response from ARLA:'"A ban on letting agent fees is a draconian measure, and will have a profoundly negative impact on the rental market. ' Really, it will have a profoundly bad impact on letting agents profits and I suspect be overwhealmingly positive for tenants. "Most letting agents do not profit from fees." Come on who does he think he is falling. I remember a few years back I was charged £175 for a credit check. Personally I expect the current government to seriously crack down on the sector and landlords. Landlords should be vary wary of entering the sector imho and those that do should understand that increasing costs and potentially less or no rises in house prices will have to be met out of their pockets not the tenants. Being a landlord does not guarantee you will be profitable. I expect the next thing to be looked at is inventories, deposits and measures to ensure landlords fulfil their maintance obligations (at present so hard for a tenant to do much about).
ValueSeeker8
23 Nov 2016
U.K. to Scrap Letting Fees Foxtons Group Plc fell the most in almost four months after the U.K. government decided to scrap letting-agent fees.The measure, expected to be officially announced by Chancellor of the Exchequer Philip Hammond in the Autumn Statement on Wednesday, will help the 4.3 million British households that live in rented accommodation.Foxtons, a broker focused on London, fell as much as 11.6 percent, the most on the FTSE All-Share Real Estate Investment & Services Index, and was trading at 109.75 pence at 08:40 a.m. Countrywide Plc, the U.K.’s largest broker, fell as much as 7.4 percent.The shock Brexit vote is seen by Prime Minister Theresa May as a plea for more inclusive growth from those who feel left behind by globalization. Her government is looking for ways to boost wages for the lowest-paid workers and reduce costs such as rents. Hammond said such efforts may be hampered by the country’s “eye-wateringly” large debt.Charges made by letting agents to tenants when they moved into a property “should have been levied only to cover reasonable administration and referencing costs,” broker Jones Lang LaSalle Inc. said by e-mail. “However, this has been abused by some agents who have been overcharging for their gain and to the detriment of tenants. so the government has now acted and banned letting agents from making these charges.”[link] if this is the last straw!
Sir Singh
16 Nov 2016
Re: its 95.75 today Very happy with my positions.
