Thursday, November 4, 2010

Sky City Entertainment Group Ltd: Never mind the width feel the volume



Sky City Entertainment Group Ltd [SKC.NZX] shares have put on more than 10% since last Friday when a positive first quarter 2011 market update. It was trading at $2.90 the day before the news and traded at $3.20 at close of business yesterday. (see one month chart above)

I am a bit annoyed because I am a long term shareholder, I know things are going well for the company and the share price was looking like weakening before this positive news. I was hoping to buy more with the Share Investor Portfolio dividend pool.

Be that as it may the rally in the share price looks to be a sustainable one, at least for the short term. I say this because the first day of trading after the news volume was well up on the average and has increased steadily since then and thus far has peaked at just over 8 million shares traded yesterday. Nearly $50 million in shares have been traded in the 4 days since, compared to $12 million in the 4 days prior.

Depending on the fallout from today's Fed quantitative easing, it is looking like another positive day for the stock again today.

For those of you into this stock short term, watch for the volume movement to give you an indication of when to bail.

Looking like a great update for the portfolio update on Monday.


Sky City Annual Meeting Docs & Related Reading


Meeting Webcast 2010
Annual Meeting Presentation 2010
NZX - 29.10.10 Annual Meeting
Aspect Huntly Research


Sky City Entertainment Group @ Share Investor


Sky City Annual Meeting & 2011 - 2012 Profit Forecast
Stock of the Week: Sky City Entertainment Group Ltd
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Sky City Entertainment Group: Australian Acquisition on the Cards?
Sky City Entertainment Group Ltd: 2010 Full Year Profit Analysis
Sky City Entertainment Group 2010 Full Year Profit Preview
Chart of the Week: Sky City Entertainment Group Ltd
Share Investor discusses Convention Centre proposal with CEO Nigel Morrison
Share Investor Q & A: Sky City CEO, Nigel Morrison
Sky City Entertainment: CEO Nigel Morrison discusses 2010 HY
Sky City Convention Centre Expansion a Money Loser: Part Two
Sky City Convention Centre Expansion a Money loser
Sky City Entertainment Group Ltd: Download full Company analysis
Sky City 2010 full year profit looking good
Long Term View: Sky City Entertainment Group Ltd
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Sky City Entertainment Group 2010 Interim Profit Review
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Sky City's Current Cinema "Boom" a Horror Story in Disguise
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Sky City Entertainment 2009 Interim Result Preamble
2008 Sky City profit analysis
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Sky City Entertainment 2008 Full Year profit results , NZX release, 2008 full year presentation, result briefing webcast, financial statements
Sky City 2008 profit preamble
Sky City outlines a clear future plan
As recession bites Sky City bites back
Sky City Assets: Buy, sell and hold
Why did you buy that stock? [Sky City Entertainment]
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Sky City half year exceptional on cost cutting
NZX Press release: Sky City profit to HY end Dec 2007
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New Broom set to sweep
Sky City Management: Blind, deaf and numb
Sky City sale could be off
Opposition to takeover
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Sky City receives takeover bid
Sky City Casino Full Year Profit to June 30 2007
Setting the record straight
Sky City CEO resigns
Sky City Casino: Under performing
Sky City Casino 2007 HY Profit(analysis)
Sky City Casino 2007 HY Profit

Sky City Convention Centre @ Share Investor

Share Investor discusses Convention Centre proposal with CEO Nigel Morrison
Sky City Convention Centre Expansion a Money Loser: Part Two
Sky City Convention Centre Expansion a Money loser
SKC Convention Centre power-point slide illustrations & SKC submission to Auckland City Council

Discuss SKC @ Share Investor Forum
Download SKC Company Reports

Recommended Fishpond Reading

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Buy The Intelligent Investor & more @ Fishpond.co.nz

Fishpond


c Share Investor 2010

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