This sums up much of my thinking - I hold a few and swing trade a few and even trade intraday sometimes ......

I think there is a lot of slack that management can cut out of the costs and would also anticipate sector consolidation ..... good value currently and have been holding their own in a falling market. Lot of US interest.

ains


Edited by Dominic White
(Filed: 08/02/2003)


Texting makes MmO2 sexy but it's also risky

More and more Britons are discovering the joys of textual intercourse. In the month of December, we fired off more than 50m mobile messages a day, and next Friday (that's Valentine's Day, folks, in case you'd forgotten) we'll send considerably more than that.



It emerged this week that the chief beneficiary of this craze is MmO2 . BT's former mobile phone division revealed that it gets a higher proportion of revenues from texting than any of the other three operators.

Revenue from messaging grew at its fastest rate ever in the last quarter, up 19pc, and data services as a proportion of MmO2 's revenue rose to 17.7pc from 15.6pc.

More good news was the rise in MmO2 's average revenues per customer. ARPUs, as nerdy analysts like to dub them, grew by 5pc to 243 in the UK and by 9pc in Germany to 212.

MmO2 now has 19.1m subscribers and in Britain it may be the smallest player, with 11.9m users, but it is growing faster than its rivals - testament to the success of its rebranding from BT Cellnet.

Only 114,000 of its 503,000 new UK subscribers were higher-spending contract customers, but MmO2 claims its pre-pay customers have started spending more than before.

Customer growth in Germany, which continues to be dominated by T-Mobile and Vodafone, is less impressive and the MmO2 share price ascribes little or no value to this part of the business.

That seems unfair, given the fact that the group has attracted higher-spending customers and has made a decent fist of turning the operation around. An eventual sale or merger is almost as inevitable as a disposal of the Dutch unit, which is losing customers.

MmO2 's larger rival Vodafone is trading on a free cashflow yield of 6pc, while at 49p this week, MmO2 's equivalent valuation remains negative. It might not have Vodafone's scale or profitability but there is room for upside. A risky buy.

ooops .... it may not have refreshed


here is latest



Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (52.13%) 49 (57.47%) 9,471,165 125.55 - 127.16 7,010,041 (42.53%) 45 (47.87%)
5% (35.58%) 58 (36.48%) 9,955,165 125.50 - 127.88 17,332,924 (63.52%) 105 (64.42%)
10% (35.27%) 79 (33.06%) 11,460,878 125.00 - 128.70 23,205,768 (66.94%) 145 (64.73%)
15% (40.83%) 118 (37.57%) 14,677,650 123.21 - 129.01 24,385,052 (62.43%) 171 (59.17%)
50% (43.64%) 144 (37.18%) 15,067,746 122.91 - 129.49 25,456,644 (62.82%) 186 (56.36%)
100% (52.48%) 222 (39.77%) 16,948,542 120.83 - 129.75 25,672,744 (60.23%) 201 (47.52%)
all (51.75%) 222 (39.73%) 16,948,542 120.83 - 129.95 25,707,892 (60.27%) 207 (48.25%)

Is L2 stronger now for both stocks ahead of US open which is at its strongest.

Sorry was out ....



Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (49.48%) 48 (51.94%) 12,207,013 125.62 - 127.05 11,294,321 (48.06%) 49 (50.52%)
5% (34.36%) 56 (36.99%) 12,631,345 125.57 - 127.68 21,517,204 (63.01%) 107 (65.64%)
10% (34.82%) 78 (34.10%) 14,169,058 125.15 - 128.42 27,380,048 (65.90%) 146 (65.18%)
15% (40.48%) 117 (37.84%) 17,385,830 123.61 - 128.69 28,559,332 (62.16%) 172 (59.52%)
50% (43.33%) 143 (37.50%) 17,775,926 123.34 - 129.12 29,630,924 (62.50%) 187 (56.67%)
100% (52.25%) 221 (39.71%) 19,656,722 121.51 - 129.34 29,847,024 (60.29%) 202 (47.75%)
all (51.40%) 221 (39.68%) 19,656,722 121.51 - 129.52 29,882,172 (60.32%) 209 (48.60%)

Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (45.16%) 14 (36.96%) 1,249,579 57.35 - 58.13 2,131,208 (63.04%) 17 (54.84%)
5% (45.95%) 17 (39.69%) 2,083,817 57.10 - 58.41 3,166,608 (60.31%) 20 (54.05%)
10% (45.10%) 23 (47.67%) 2,977,636 56.65 - 58.45 3,268,312 (52.33%) 28 (54.90%)
15% (54.84%) 34 (49.47%) 3,200,336 56.41 - 58.45 3,268,312 (50.53%) 28 (45.16%)
50% (53.85%) 35 (50.61%) 3,400,336 56.03 - 58.55 3,319,004 (49.39%) 30 (46.15%)
100% (55.88%) 38 (50.75%) 3,420,456 55.91 - 58.55 3,319,004 (49.25%) 30 (44.12%)
all (54.29%) 38 (50.72%) 3,420,456 55.91 - 58.67 3,323,304 (49.28%) 32 (45.71%)

Wow did you see that downturn. Has their been any change to L2 strengh. Vod should close <125.5 signalling further downside tommorrow unlike +ve OOM. US has just turned marginally -ve which believe me was v.difficult with better than expected consumer confidence figs which caused US to spike up 80 pts ~8560 and S&P 924.25.

Like I said earlier - it would depend on the US situation


Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (43.33%) 13 (46.34%) 1,780,387 57.22 - 57.97 2,061,964 (53.66%) 17 (56.67%)
5% (44.74%) 17 (54.67%) 2,923,785 57.00 - 58.05 2,424,349 (45.33%) 21 (55.26%)
10% (43.10%) 25 (49.74%) 3,856,084 56.66 - 58.43 3,896,053 (50.26%) 33 (56.90%)
15% (52.17%) 36 (51.15%) 4,078,784 56.47 - 58.43 3,896,053 (48.85%) 33 (47.83%)
50% (51.39%) 37 (52.02%) 4,278,784 56.17 - 58.51 3,946,745 (47.98%) 35 (48.61%)
100% (53.33%) 40 (52.14%) 4,298,904 56.07 - 58.51 3,946,745 (47.86%) 35 (46.67%)
all (51.95%) 40 (52.11%) 4,298,904 56.07 - 58.61 3,951,045 (47.89%) 37 (48.05%

Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (33.33%) 26 (37.29%) 5,132,598 124.36 - 125.93 8,629,977 (62.71%) 52 (66.67%)
5% (29.69%) 38 (24.62%) 5,961,111 124.19 - 126.62 18,255,366 (75.38%) 90 (70.31%)
10% (22.98%) 54 (19.03%) 7,337,138 123.46 - 127.50 31,227,086 (80.97%) 181 (77.02%)
15% (30.98%) 92 (22.46%) 10,277,248 121.40 - 128.13 35,487,796 (77.54%) 205 (69.02%)
50% (34.31%) 117 (22.34%) 10,507,954 121.15 - 128.48 36,535,984 (77.66%) 224 (65.69%)
100% (44.14%) 192 (25.17%) 12,382,975 118.57 - 128.69 36,808,072 (74.83%) 243 (55.86%)
all (43.57%) 193 (25.16%) 12,382,976 118.57 - 128.84 36,843,216 (74.84%) 250 (56.43%

L2 strong? Finding support @57. S&P/DOW futures marginally lower. Prediction?

Interesting one today ..... recovered after the early morning dip - seem to be following the overall market trend - sector down around half a percent - market a tad less - US nas down 3.5 points

With little news at this time I guess a small negative - maybe 57/57.5p although vols are high which is always interesting




Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (50.00%) 17 (46.15%) 1,947,689 57.03 - 57.92 2,272,358 (53.85%) 17 (50.00%)
5% (46.51%) 20 (45.02%) 2,423,731 56.93 - 58.04 2,960,285 (54.98%) 23 (53.49%)
10% (42.42%) 28 (44.10%) 3,122,964 56.60 - 58.31 3,959,034 (55.90%) 38 (57.58%)
15% (46.84%) 37 (40.80%) 3,310,388 56.41 - 58.78 4,803,321 (59.20%) 42 (53.16%)
50% (47.62%) 40 (47.10%) 4,322,575 55.19 - 58.85 4,854,013 (52.90%) 44 (52.38%)
100% (50.00%) 44 (47.25%) 4,347,595 55.09 - 58.85 4,854,013 (52.75%) 44 (50.00%)
all (48.89%) 44 (47.23%) 4,347,595 55.09 - 58.93 4,858,313 (52.77%) 46 (51.11%

this is good news


30 Apr 2003 11:25 BST

EU clears T-Mobile and mmO2 network sharing

BRUSSELS (Reuters) - Telecoms operators T-Mobile and mmO2 have won European Commission approval to share networks for third generation mobile phones in Britain.
Heavily-indebted telecoms operators are increasingly resorting to sharing their infrastructures to slash costs and speed up the rolling-out of long-awaited 3G services.

"This decision strikes the right balance between infrastructure competition in the 3G market and the immediate consumer benefit of faster and wider roll-out of advanced 3G services," European Competition Commissioner Mario Monti said in a statement.

The companies had asked the Commission in February for approval of a cooperation accord to share their sites in Britain and Germany.

The Commission granted approval for the British part of the accord and said a decision on the network sharing in Germany would be announced in the near future.

Hi Ains. Do you use GNI for your trading? I noticed the comments you made on the short selling topic & the associated criticisms. I gather you don't short stocks.

Hi stv ..... I tend not to short stocks as I am not convinced about the need. YOu can still trade shares that are falling on a longer term basis. I use a number of brokers for trading incuding several web based peeps like selftrade/comdirect/brokerline and idealing. I prefer to deal off sets and use the sets prices for gaining an improvement. Its rare I pay the touch price regardless of the tight spreads. You pay a one off 10 a trade and I use a cheap rolling ovrerdraft facility rather than trade on margin. stamp duty is only on one side of the bargain




Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (51.85%) 14 (61.05%) 1,505,507 56.71 - 57.50 960,469 (38.95%) 13 (48.15%)
5% (39.47%) 15 (40.52%) 1,854,616 56.58 - 57.83 2,722,892 (59.48%) 23 (60.53%)
10% (37.50%) 24 (37.20%) 2,297,816 56.27 - 58.14 3,878,526 (62.80%) 40 (62.50%)
15% (42.31%) 33 (40.69%) 3,252,227 54.93 - 58.65 4,740,113 (59.31%) 45 (57.69%)
50% (41.98%) 34 (41.88%) 3,452,227 54.65 - 58.72 4,790,805 (58.12%) 47 (58.02%)
100% (44.71%) 38 (42.06%) 3,477,247 54.52 - 58.72 4,790,805 (57.94%) 47 (55.29%)
all (43.68%) 38 (42.03%) 3,477,247 54.52 - 58.80 4,795,105 (57.97%) 49 (56.32%

Thanks Ains. It's obvious short squeezing has affected prices significantly since last yr & I for one have lost more than anyone for sure. US futures despite earlier spiking are again lower so probably will not go above S&P 925. L2 weaker!
Do you have a tel number I can ring you on late evening for friendly discussion?

You have to learn to live with and profit from them .... makes for more volatility ... US news is mixed but generally not very + ..... US futures are fairly constant and marginally off. Sector as before but general market better than evens .... going to put my neck out here and assumming no new news we will see 58p.


By all meands give me a call - mail me at ainsoph@blueyonder.co.uk


ains



Buy orders Sell orders
Num(%) Num Vol(%) Vol VWAP Vol Vol(%) Num Num(%)
1% (30.77%) 8 (18.77%) 819,428 56.56 - 57.29 3,546,865 (81.23%) 18 (69.23%)
5% (25.00%) 9 (17.95%) 1,167,069 56.39 - 57.52 5,334,239 (82.05%) 27 (75.00%)
10% (33.90%) 20 (20.62%) 1,640,669 55.97 - 57.74 6,317,339 (79.38%) 39 (66.10%)
15% (35.14%) 26 (21.55%) 1,762,493 55.75 - 57.78 6,415,868 (78.45%) 48 (64.86%)
50% (35.06%) 27 (23.28%) 1,962,493 55.16 - 57.83 6,466,560 (76.72%) 50 (64.94%)
100% (38.27%) 31 (23.51%) 1,987,513 54.94 - 57.83 6,466,560 (76.49%) 50 (61.73%)
all (37.35%) 31 (23.50%) 1,987,513 54.94 - 57.89 6,470,860 (76.50%) 52 (62.65%)

L2 weaker now? It most certainly is for VOD which has been pushed ↓ to 124 ↓1%.

slipping now ..... double the falls of the sector but still an hour to go - volumes are high and news is coming out albeit not seriously price moving.


O2 offers email on the move

London, April 30 2003, (netimperative)



by Chris Lake

O2 has launched a new email-on-the-move service that provides users with access to business email, calendar and contacts from its xda handset.


The service, branded 'xmail', is aimed at business users and particularly at commuters, who can use their xda - a cross between a PDA and colour-screen mobile phone - to read email from trains or taxis.

Users need to download software from O2's website to synchronise their xda's with a PC to use the service.

The network operator said customers responded positively to xmail in pre-launch trials. Many of its existing 50,000 users wanted O2 to introduce more varied email connectivity services - they can now take advantage of a free 10-day trial that is accompanying the launch of xmail.

After the 10-day trail period elapses, users will be charged 9.99 per month for the xmail service, which excludes airtime and data costs.

O2 now has about 12m customers in the UK.

Strange because there was a 17 million buy half an hour ago .....

BBC NEWS


3G operators win tie-up approval


3g allows callers to see each other
Mobile phone operators T-Mobile and mm02 have won approval from the European Commission to share networks for third generation (3G) mobile phones in Britain.

Europe's competition watchdog said the agreement would not prove anti-competitive.

But it excluded the top 10 British cities from the "roaming" deal between the two operators, and said it would only apply in smaller cities until 2007.

Roaming allows mobile phone users to switch automatically from one network to another.

Long wait

Competition commissioner Mario Monti said: "This decision strikes the right balance between infrastructure competition in the 3G market and the immediate consumer benefit of faster and wider roll-out of advanced 3G services."

Mobile firms are increasingly looking towards partnerships in a bid to minimise their outlay and stem huge costs.

They paid vast sums to obtain 3G licences, which allow users to see each other and send video footage during calls.

But long delays and numerous technical glitches have hampered the widely-hyped launch - and operators' ability to reap the return on their investment.

T-Mobile, owned by Deutsche Telekom, is Europe's second largest mobile operator while mm02 is the smallest of the five European players.

The two firms asked for approval to share their sites in Britain and Germany in February and the Commission has so far only given its accord for the British part of the deal.

At a price

The UK's first mainland 3G mobile network, Hutchison 3, officially opened for business in March after a series of technical glitches.

But with an average price of 400 for a handset, the technology comes at a price.

Trade and Industry Secretary Patricia Hewitt made the UK's first public mobile video call over 3's new service to Stephen Timms, the e-Commerce Minister.

The government has been a strong promoter of 3G technology, having earned billions of pounds from the sale of the radio frequency licences.

"The possibilities are immense.

"It has the potential to revolutionise the way we communicate and I am delighted that UK businesses and consumers will be among the first to benefit from it," said Ms Hewitt.

intraday trading graph not looking good - sharp downturn

What happened with O2? Is it just weak L2 or someone shorting the hell out of it