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I really don't understand the price decline in this one.


I thought everything was basically looking quite sound for modest but sustained growth (eg 10% per annum) - the company has certainly been doing that for a few years now.


Are there some storm clouds on the horizon that only the insiders know about? The 12 month chart certainly looks awful, and some large holders have been bailing out, but the only info I can find is that the company is quite sound.


The only hiccup I can see is that the rising Aussie$ puts a dent in repatriated earnings from the overseas divisions.


I get the impression that the "market" is being unkind to suppliers of web-based/information-based businesses. IFM and PME come to mind as examples (and they both pay good dividends too!). ICS also comes to mind as a nascent web-based business that will probably turn the corner this year, but has really suffered over the last month.


If you are a contrarian investor, web-based/information-based companies may be great buy-and-forget picks for your super fund. Experience suggests that every sector inevitably has its turn in the doghouse, only to come out into the sunshine again at a later date.



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IFM arn't a web based business, albeit they have a small web business. 98% of revenues and EBIT comes from car part catalogues for Companies such as Ford GM Toyota Honda Daihatsu.


Awesome business but something definately looks smelly given the was the chart is falling. Either a bargain or an opportunity. I will check it out some more....

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Hmm ... was noting the same.,

Have had 4 days of above average volume, price has bounced off support at 73/74c and price closes up.


Be one to watch for a few days ....



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  • 1 month later...

There is obviously something going wrong here, but I'm feeling particularly dumb today coz' I just can't see what is wrong!


What's the dark secret in today's presentation of results - on face value they looked very solid?


Somebody help me out here, coz' I'm feeling thick as two bricks today.


What am I missing?



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I was going to say last night that IFM had moved through its downward cap, albeit unconvincingly. I can see why now, the share price has made a definitive move through support.


Its a little over reactionary, but who am I to argue with the market. As soon as someone offers me an acceptable price I'm out and maybe look to see how this plays out over the next month.




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