Harry Winston Diamond Corporation HWD

Bargain Hunting

[GambitX]

With my profits from the Nova takeover, did some bargain hunting. Picked up 3000 shares of HW, 2000 on the NYSE and 1000 on the TSE. Down a bit already as it slipped further down in the late afternoon but I believe this is a good play for the next 6-12 months. More cash available to average down if necessary. Also picked up more Nexen, that is unbelievably cheap right now, takeover probably on the way for that one too.

[pkxt]

Super DEAL @ $2.96...........................plus dividendHappy tradingpkxt

[GambitX]

Yep, I thought I was getting a fanastic deal at 3.30!!! Good luck with our investment.

[pocotrader]

I got in at $3.00 for a quick flip, thought it might be the bottom  ,not sure why all the selling ,HW is a tightly held stock, anyway holding for now

[puma1]

this stock is over 50% institutional holding.if there are a bunch holding it beacause it was on the index's or due to size, then i could see a lot of those balanced type funds being forced to dump it below $5.

[puma1]

Blackrock filed a disclosure last week disclosing that they had dropped their holdings from over 11% to just under 10% - dumped a million shares in Dec 2008 by the sounds of it.BLK now has some 5.9 million shares unless they sold more in 2009 - there was a large trade in early jan - 900k shares in one day - i think that included a 750k block tradeTrimark would probably be next biggest with some 4

[puma1]

it was jan 6th 2009 - merrill moved 677k that day - there were a couple of 200k trades and just a lot of merrill on both sides!i still think this is a takeover candidate

[GambitX]

They would have to pay one hell of a premium. This isn't like Nova Chem, they are in fine shape.

[brit]

The charts suggest we have more to go on the downside.  Problem is that selling continues past any moderate support levels.  Have a look at the MACD and Money Flow indicators. Although RSI shows overbot, the former tell another story.I have it on radar, but even insiders seem to be lightening up.

[puma1]

unfortunatley i think there may be more downside unless they can announce ASAP that they have finalized their debt refinance and can carry all obligations out well into 2010.they are not as bad as Nova - but they appear tp have put themselves in that terrible position of refi in 2009. that has been a formula for total destruction for a few companies.we are lucky here in that  RIO are also

[pocotrader]

I was wondering why HW has sold off so much, I didn't think it was because of debt.