red = 25dma
green = 50 dma
black = 200 dma


The Telegraph says the banks like Southern Cross Healthcare, and so it seems to have an almost endless supply of new capital. It recently secured �300m to fund acquisition plans. It also develops its own sites and hopes to add 1,000 beds this year. A good operator with a proven model, Southern Cross is well worth buying.

annual reports etc available from www.schealthcare.co.uk


have just bought for myself at 355

pretty bounce of 50 dma with decent results that for once seem to be to the anal-ysts liking ...... sp +21.50 today after about +34p earlier, but surely more upside to come in the immediate future

that's what i like about analysts - lol!
TIMES says "avoid for now"
INDY says "buy"
One of the big brokers (forget which) raises fair price to 420/440

have been out of this former fave of mine for a few weeks now, and thank goodness ..... hs already fallen quite a bit but looks like a torrid time ahead with profit warning this morning

You are right, cynic...down to 135p now

well below that now ... had hoped to be able to short this morning, but not a (sensible) chance s opened -175 or thereabouts ...... makes TAN look tame!

Southern Cross says occupancy rates lower than expected, lowers profit forecast - AFX

LONDON (Thomson Financial) - Southern Cross Healthcare Group Plc. said it is unlikely to meet its own forecasts for bed occupancy rates due to later government funding to local authorities, forcing it to downgrade its profit expectations, and it also has had to renegotiate the repayment date of a 46 million pound loan.

The care-home provider said that although the overall occupancy in its homes has risen since the half year to 33,450 residents from 32,900, or 90 percent of all available beds, this increase has not happened at the speed, nor to the absolute number of residents, initially expected.

As a result, adjusted EBITDA is unlikely to exceed 80 million for the year, compared with 66.8 million pounds in 2007, Southern Cross said.

The company said it has a total debt facility of 82 million pounds, 46 million of which should have be repaid at the end of June. It said it has a repayment extension to 28 July.

It had intended that the property assets funded by this facility would have been sold by this date and the loan repaid. However, while it has received indicative offers for part of the assets, they are currently unsold.

Southern Cross also blamed what it described as 'higher than normal attrition rates' among its residents for lower-than-anticipated occupancy levels.

The company said it has appointed a new management team to conduct a review of the its Active Care subsidiary as the business remains significantly below its financial forecast.

Southern Cross also said Jason Lock, who was appointed finance director in March, is stepping down, with immediate effect. Richard Midmer, previously finance director of NHP Plc., will take over the FD role.

makes me sick to look at this one even though i don't hold ...... now effectively untradable at about 85p ...... closed friday at 317

and just a few minutes later, still crashing, crashing, crashing

greed says there must soon be a bottom to the massacre (hmm! interesting metaphor!) and a chance to buy on a bounce, but would take a brave man i think

Looks like a terminal cashflow crisis unless their bankers save them.

or one of their big investors or competitors takes them out

thought to buy at 80, then saw dive to about 65 so heaved a sigh of relief, but now see at a bit over 90 ....... all far too scary as on hol and generally sitting by pool

'generally sitting by the pool'? not specifically then : )
I have traded around 40k of these today and recovered all my losses from the ones I had bought over the last months. Now all in cash. I tell you, I was close to sitting in my own pool at times this morning!

well done ...... sitting glued to the screen was the only way to trade i think

thanks: the real lesson I learnt from doing this is a) I should sold when my stop loss was breached last week and b) knowing I had lost a lot of money mneant I had to get the trades right today (i.e bought at 57.5p not 1.30 when market opened. Had I sold last week and been able to trade as I did today I would have earnt a very nice holiday indeed this monring- we live and learn.

ah well, such is life as we sit in the gutter!

couldn't resist - went back in around the 109p mark. Glad I did.

clever old silverfern seems to have done well on this stock today (and i believe him!), but it will be interesting to see what the morrow brings ..... sp seems to have closed at 130, perhaps distorted by auction, but if you can monitor constantly, i think there may be another lively day ahead shorting initially

RSI suggests overdone...

RSI after a pretty dire profit warning has no relevance

cynic any viws on PCI