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Fresh Del Monte Produce Inc. Message Board

  • ippocrate99 ippocrate99 Dec 10, 2002 2:27 PM Flag

    FDP,buy opportunity or what?

    Notable institutional buy interest for FDP on
    last week at around 21 $.

    Also today action on the stock saw a lot of small lots,small scared investors.
    Few large blocks,twice a buy of 25.000 shares around 11 a.m.
    Or something bad is coming (but what,no news
    whatsoever),or is the classical case of strong
    hands collecting undervalued shares from retail.
    At this point ,imo,a group of small investors,
    or a representative for them,should send a request to FDP investors relations office and
    ask them what they should know about the present status of the legal suit reported recently.
    Could ymh help?Thank you

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    • It looks like the "or what's" are winning this battle.


    • True, that takeout offer is why it's holding its price. On FDP, mgt needs to have a conference call very fast to restore their credibility.

      Speaking of blown credibility, Rosenfeld of PRU ran a great pump and dump last week on TSO.

    • ymh wrote:
      [msg: 1647]
      > I am a minority shareholder of Fresh Del
      > Monte Produce (FDP). I notice it's selling
      > off again today and Dole and Chiquita are
      > not so it's not sector related.

      [msg: 1656]
      > Equities trade by sectors mainly and if one
      > is dumping and all others are pumping or
      > flat, it's more than "technicals."

      forgot to say yesterday:

      in the case of DOL there is a buyout offer on the table, which makes any correlation analysis between FDP and DOL's price movemenents meaningless now.

    • 20-21 is very critical for FDP. I think today was more than program trading though. Mgt needs to hold a conference call and clear the air...too many questions out there right now.

      Try the book, it will make you a better trader or investor.

    • I really appreciate your opinion and insights, given that you're a Wallstreet pro with excellent connections whereas I am a just spare time investor.

      I'm a strong believer in the concept of behavioral finance (although my knowledge in this field is primarily informal). Nevertheless, I've made the experience so far that many moves in the market can be explained with it.

    • Equities trade by sectors mainly and if one is dumping and all others are pumping or flat, it's more than "technicals." Program trading was not responsible for today's dump in my opinion.

    • I'm not a technican myself (I'm the type of person, who'd question the rules instead of blindly following them), but as programmer I have thought about ideas and abstractions many chart analysis/trading methods have in common (e.g. Point & Figure, Darvas Boxes, Ross Hooks).

      If I was trading based on a mechanical system (which I don't do, however), my trading system would have generated a major sell signal today, given that FDP has broken through the lows of 11/21 and 12/04. A very clear sell signal, it could potentially explain a lot of the volume. Of course, as you suggest, there could be also fundamental reasons behind the scenes.

    • I will call them but they need to talk to everyone at the same time via a press release otherwise they might be violating the SEC's FD rules. We have been slowly buying under 21, too.

      They need to come 100% clean about all pending legal matters or anything else "material" to share price via a press release. It's not fair for me or you to know, but someone else not to know at the same time. It's illegal to tell one party but not another about anything which is "material" to share price.

43.52-0.19(-0.43%)Dec 1 4:01 PMEST