NLX- Dumping

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steve_m

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Post Number: 248
Registered: 02-2003

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Votes: 0


Wednesday, April 07, 2004 - 12:56 pm:

Does anyone have an opinion on who/why just as NLX starts a run someome dumps 1mil+,shares and takes out the whole buy side did it today again at .295. Cheer

des2

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Post Number: 11
Registered: 03-2004

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Wednesday, April 07, 2004 - 01:06 pm:

steve

Large holders have to sell into good news to get a decent average price - clearly someone feels nlx will go down further!

des

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robski

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Post Number: 15
Registered: 04-2003

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Wednesday, April 07, 2004 - 01:25 pm:

NLX,

Most of my indicators seem to show a possible turnaround. Even more interesting is the OBV. It has finally penetrated 13day EMA since 26Feb04 with an overall rise in the OBV with a steady price. I would imaging that this one should be screened further.

Regards,
Robski nlx

new2waix

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Post Number: 688
Registered: 10-2003

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Votes: 0


Wednesday, April 07, 2004 - 02:14 pm:

As Robski's chart demonstrates, 29 seems to have held quite well.

The weekly looks good as well, assuming NLX can continue the trend. Further confirmation may be needed in this department.

A dump of 1 million shares is not good, but NLX traded 12 million last week, and has done 5 so far this week. Has bounced back up to 29.5 which shows buyer interest.

Above 31 on growing volume may be worth waiting for. The previous craziness back in August 2003 may rain on the parade, but who knows. Certainly the really bad news is almost 3 years away...

:-)

archer

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Post Number: 140
Registered: 11-2002

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Votes: 0


Wednesday, April 07, 2004 - 04:09 pm:

Watch that H+S Neckline on New2 chart
If that breaks it could be all over for NLX

des2

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Post Number: 12
Registered: 03-2004

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Wednesday, April 07, 2004 - 05:14 pm:

archer

i get a different support trendline which suggests it could drop to 26cents and still be within the ascending base

maybe its wishful thinking as i hold nlx

des

nlx

steve_m

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Post Number: 249
Registered: 02-2003

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Votes: 0


Wednesday, April 07, 2004 - 10:18 pm:

Hi N2W & Des2 both your charts are right just that des 2 's starts about 8mths earlier the point is on a weekly its definitley still in uptrend and if it turns at current point will create a higer swinglow, previous one being .26ish. Thats the thing about TA more art than science. Anyway today's late rally was encouraging hope it can go on with it but still none the wiser as to who is dumping 1mil+ parcels thats the 3rd or fourth time in the last few days.

steve_m

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Post Number: 250
Registered: 02-2003

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Wednesday, April 07, 2004 - 10:21 pm:

Here's aclose up on the daily.

greatdane

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Post Number: 79
Registered: 12-2002

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Thursday, April 08, 2004 - 05:03 am:

Nylex is a turn around story.
NLX getting the house in order.
Expect this will show up in the charts later.
====================================================

Further Divestments

7 April 2004
NYLEX DIVESTS MORE NON-CORE BUSINESSES

The directors of Nylex Limited today announced another step in its re-structuring program, with the divestment of a range of five non-core operations, with gross proceeds of $12 million.

The divestments included Ajax Engineered Fasteners and Global Automotive Logistics, which supply automotive and high tensile industrial fasteners. The buyer is GEF Holdings Pty Ltd - the major shareholder of this business being Allen Capital Private Equity Pty Ltd.

Manufacturer of automotive textiles, Melba Thailand, was sold to Chiao Fu, while hose distributor, Harvey Hose and the SRM plastic recycling businesses were sold privately.

Managing Director, Glen Casey, said "revenues of $100m would be lost to the Group as a result of the transactions announced today and a book loss on some of the sales would be incurred, however there would be an insignificant loss of trading profits and an improvement in the Group's cash position going forward. In addition, vital management resources can now be redirected to the Group's core businesses."

The divestments of the businesses takes the number of non-core businesses divested in the 2003-2004 financial year to 17, with gross proceeds of $164 million.

Nylex, with its 4 ongoing divisions - Automotive, Plant Hire, Consumer Products and Industrial Products, is on track to commence the 2004-05 fiscal year with virtually all of its restructuring completed.

For Media Inquiries Call:

Glen Casey Tim Allerton
Nylex Limited City PR
(03) 9533 9333 (02) 9267 4511

Regards, GreatDane

archer

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Post Number: 141
Registered: 11-2002

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Votes: 0


Thursday, April 08, 2004 - 07:11 am:

Hi des
I think this pattern shown here will make or break NLX
nlx

Look at the vol increase.On a breakout or new high you
would love to see that but the stock is stuck in a range
That tells me there is a huge battle going on between
Bulls and Bears.IE-people who think nlx is going to
survive and people who think it will fail
Ive been looking for reasons to take a long term trade
in NLX.If it breaks up im in but if it breaks down i would
not stand in the way
Currently that looks like distribution to me but i'll be
watching closely
All the best
---Archer---

des2

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Post Number: 13
Registered: 03-2004

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Votes: 0


Thursday, April 08, 2004 - 09:35 am:

archer

thanks- i agree with your interpretation. my support line needs to go back to the capitulation low back in 2001 and greater importance should be given to the more recent market activity. things have changed foe nlx since the management change and restructuring.

looks like crunch time in the next few days or weeks
good luck
des

steve_m

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Post Number: 251
Registered: 02-2003

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Votes: 0


Thursday, April 08, 2004 - 12:05 pm:

Hi Des2 agree with your sentiments and chart if NLX fails to hold .28 the next obvious support for mine is .25, don't want to think below that.Yesterdays announcment for mine just reinforced the consolidation going on in the company but obviously someone dooesn't agree as yet another 1mil parcel was placed on the sell side this morning. Cheers

perler59

Member

Post Number: 87
Registered: 09-2003

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Votes: 0


Friday, April 09, 2004 - 11:10 am:

The Yahoo research page for NLX is not exactly bullish.

http://au.us.biz.yahoo.com/z/a/n/nlx.AX.html

If players are reading that sort of news, then market sentiment of NLX may be turning sour.

steve_m

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Post Number: 253
Registered: 02-2003

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Votes: 0


Saturday, April 10, 2004 - 11:38 am:

Hi Perler agree about it not being bullish but they only had one analyst and he had a hold, the interesting figure was the 125% forecast in EPS for June 2005.NLX balance sheet at mmnt looks sick but the qurterly one should improve and once mandatory converting notes which are listed as a liability actually convert in Oct that should all change.There is a lot ifs buts and maybe's with NLX and no doubt there are plenty sitting on the side waiting for something positive to happen,and if it does watch it move, I still think there is huge potential as a recovery play oner next 2 years but it is risky. Cheers steve

cris

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Post Number: 373
Registered: 08-2003

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Votes: 0


Saturday, April 10, 2004 - 11:59 am:

Agree Steve. It's on my watchlist - watching and waiting for now - like many others no doubt.

Regards,
Cris

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