Anyone holding these? Evil K drove the price right down and now they seem to be recovering---are they worth considering now they seem to have sorted out their finances?

Harrycat found this interesting read

http://www.onlinecasino.org/news/poll-91-in-usa-dont-want-a-online-gambling-ban-hr-4411-1311.php

Hmmm.
That's all very well, but popular opinion doesn't always affect policy decisions.
(Most people want the death penalty reintroduced & community charge to be scrapped. Neither will happen in our lifetime.)
However, one arguement is to tax gambling revenues in the U.S. Once they find a way of doing this effectively, then they may change their minds.

SBT has very good results and the recent trading update was encouraging. I jumped in as soon as the fuss started and bought SBT and PRTY there's been a nice bounce up so far and IMO much higher to go. The Senate has broken up for the summer now and there's not much support for the bill anyway so unlikely to rear it's head again until after the Nov elections over there. I'm holding and hoping!

There is normally a restistance level of 300p & then 400p for this stock.
I am still holding and am targeting just under 300p for my first sell.
Keep locking in profit.

Harrycat and moneyplus....
what did you guys think of the big jump in shares late Friday, I was surprise by the speed of the rise. I think the conifidence is returning in internet gaming sector, for the likes of 888, PRTY and SBT. However it will remain volitile whenever there is news relating to the Bet on Sport.

Exactly that. I can see no reason that SBT shouldn't reach it's 400p level as confidence comes back to this sector. In november, when the americans start looking at this again, then maybe that is the time to get out & take profit, but don't forget that the SBT dividend date is late december.

it is unlikely to reach 400p this year purely on the basis that the americans will start investigating again later this year. However the current share price of 272p does offer scope for at least a 15-20% gain in the next 3 months.
Not bad in the great scheme of things.

Ian

The price has reached 288 this morning, partly due to a big trade of 125000 shares. I think that your estimate of 15-20% is a little understated, particularly as the main reason for the fall in the first place was the BetonSports fiasco. But, as you say, 20% is a very good return.

The saga rolls on & gets worse for some.
Hopefully the fallout from this will not affect SBT again:

http://www.theonlinewire.com/articleView.aspx?ID=1251

For those of you who are interested, it would appear the boss of SBT has other interests in these troubled times!!!

http://www.thisismoney.co.uk/news/article.html?in_article_id=411629&in_page_id=2

Back to 200 pence soon lanayel...wot a stinker of losses you've had with this one. No wonder u bitter and taking it out on others.

More possible fallout which may affect SBT:

http://www.theonlinewire.com/articleView.aspx?ID=1307

Maybe that's what is knocking the share price at the moment???

Anyone out there familiar with interpretation of graphs?
If I am not mistaken, the current head & shoulders will signify a downturn.
For those who have not already taken profit, perhaps now best to wait until after the quiet summer months (U.K.) .

Harry

I seem to be following you around, honest I'm not stalking you!!
I haven't had any real interest in SBT until I noticed your remark re the head and shoulders formation. I think you are absolutely correct, classic formation, with only the right shoulder to be completed. This should take the SP down to 165p. All the other TA indicators also point down. MACD histogram and EMAs in a down trend.

Of course I may be proved wrong, and I do realise that my comments will not be popular with those who are long.

Short time tomorrow with a stop at 260p, initial target 165p.

Good luck.

pth

Hi pth.
Over the last few years I have done very well out of SBT.
It is a very well run company with strong management, but sadly this market is very susceptible to the merest hint of bad news.
I still hold both short & long positions.
If only SBT would make it clear that they have no connection with BetonSports, the SP should recover again.
One grey cloud on the horizon is the future of internet sports gambling in the U.S. which is an arguement for only holding a short position.
Sub 180p may be a short term buy again.

Harry

With the exception of Gaming Corp I haven't bothered with the betting companies at all, which considering their volatile nature is probably not a bad thing!

As far as the short is concerned, so far so good; the fall today means that I can move my stop to ensure a risk free punt or nearly so. Nothing has changed my opinion of a 165p target and I may add along the way.

pth

Also just noted from the Trades page, 1,000,000 sell at 225.01, hmm, wonder what will happen in the morning? Mind you dunno if it was a sell or buy.

pth

I missed the 1m trade yesterday.
Today a number of big trades going through.
350k were bought at 11.20 a.m. at 230, so maybe someone is expecting a bounce, which seems logical.
Sadly, I agree that the SP will probably dip below the 200 mark. A bit of a rough ride ahead.

I know charts are only an indication of trends, but the current increase in the sp makes our latest analysis look incorrect.
Still, no bad thing for those still holding on!

Any news?