This entry is one day late again. Went into office today for 4 companies who were reporting in the morning. Carrefour, Delhaize, Morrisons and Home Retail Group. As usual Jimmy would've upgraded delhaize to buy had we have no cease coverage and were allowed to put out previews. I suspect that Carrefour should be a buy too on the back of the plans laid out yesterday by Lars. Both stocks were trading strongly from the start with delhaize up by double digits. Morrisons had a fantastic year and it remains to be seen whether they can keep the momentum up for the coming year against very tough comparables. Out of the 4, home has the least visible outlook and shares tanked as more unpleasant news were revealed during the conference call.
Well most of my bets for the day were not too bad as markets rallied for another day and I was at the right side of it. Still thinks that ahold and tesco are undervalued as they regain some of the earlier losses. But thanks to the rally in the US, which sparked a rally in the ftse, I was able to recoup most of my losses the day before. So net net I'm about £100 down instead of £200, not that bad for 3rd day trade.
Is it possible to get a pizza romana like the one from pizza express in malaysia? It's the one with the ultra flat base, absolutely yummy. Business idea? I think so.
Thought of the day: next time I had better reflect on my trading strategies day to day.
Best regards,
Jing Qi Quah
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