Should you buy into this turnaround story?

Should you buy into this turnaround story? By Robert Sutherland Smith Wm. Morrison was a buy! You heard that message here last month ahead of these first-half results, and in the face of a massive uncovered bear position. (Clearly, too many hedge fund managers shop at Harrods and not Morrisons!) The grocer has managed to keep its customers happy, and the share price has responded in kind. At last, a UK supermarket you can believe in.    When I declared my conviction last August that Morrisons was on the right track, the share price was 192p. Today, after the half-year results, the share price is (last seen) 216p. That is a spectacular monthly increase of more than one eighth. You would be forgiven for thinking that this was a growth stock, not a struggling supermarket retailer in a life-and-death battle with discounters and others for market share. So one asks the question: "Where have they gone right?"… Click Here To Read The Full Story The Master Investor Market Report The FTSE 100 closed the day at 6,812.55, an increase of 103.27 points. The FTSE 250 rose 37.89 points to finish at 17,889.76. The FTSE All Share climbed 46.75 points to finish at 3,717.61. The FTSE AIM All Share ended the day at 810.95, up by 2.93 points. Shares in outsourcing specialist Mitie (MTO) plummeted 28.88% to 191.30p after the company warned that profits during the first half of the year would be significantly lower than during the equivalent period of 2015 due to a fall in the level of high margin work being carried out and in clients' discretionary spending. Short-term profits will also be hit by the costs of implementing new efficiency programmes, but management expect a recovery in the second half.  Don't miss our September issue! Click HERE to read. Investors soured on  Dairy Crest (DCG) after it said that profits for the six months ending 30th September will be roughly in line with current expectations and ahead of last year. However, cost inflation in the dairy industry meant that the company has been paying 12% more to farmers than during the comparative period, with cream prices doubling in a short space of time. Shares in the business dropped by 42p to 626p. Smoke alarm specialist Sprue Aegis (SPRP) saw revenues for the six months ended 30th June fall by more than 54% to £25.9 million, largely due to a windfall caused by changes in French legislation last year not being repeated. As a result, the company booked a loss before tax of £1.13 million for the period. It also announced the acquisition of fire detection and analysis software from Intamac for a £2.8 million total consideration. The shares fell by 9.29% to 143p. Monday's news today  Kingfisher (KGF) will release interim results. Quote of the day "Don't watch the clock; do what it does. Keep going." - Sam Levenson Latest Stories Octagonal looks set for considerable upside By Zak Mir One of the better aspects of trading/investing via technical analysis is that one can head above the clouds as far as the fundamentals of a company are concerned. Clearly, the odd profit warning and placing can sometimes slip through… Click Here To Read The Full Story How the Mitie have fallen By Evil Knievil It only took eighteen months for Mitie (MTO) to fess up. However, there is more to come. Therefore MTO is not a buy now or indeed, I suspect, ever. Why on earth MTO kept on buying its own equity escapes me... Click Here To Read The Full Story Central Rand Gold to shine on the back of falling wedge reversal By Zak Mir FTSE 350 Stocks Barclays (BARC): 200 Day Line Resistance Perhaps one of the most interesting aspects of the post-Brexit rally was the way that the banking sector received a decent boost in share price terms… Click Here To Read The Full Story I'm holding tight to Watchstone By Evil Knievil The YouTube clip that follows is presumably prepared by Republican sympathisers and is a few days old. If the presenter is right Hillary Clinton should pack it in right now and let her successor, presumably Tim Kaine, take over as soon as possible… Click Here To Read The Full Story Pantheon Resources: It's make or break time for shareholders By Zak Mir Pantheon Resources bulls have certainly had the rug pulled from underneath them over the past couple of weeks. There are some interesting technical ramifications of what has been happening here… Click Here To Read The Full Story Join the movement on social media: Copyright 2016 Master Investor Ltd, All rights reserved. You are receiving this email because you opted in at our website. If a Daily Bulletin is too frequent, why not opt in to our once weekly mailing list for a round up of the week's news straight to your inbox. Once Weekly Round-Up Our mailing address is: Suite 88, 22 Notting Hill Gate, London W11 3JE Master Investor is a trading name of Master Investor Limited. Material contained within Master Investor Magazine and its website is for general information purposes only and is not intended to be relied upon by individual readers in making (or refraining from making) any specific investment decisions. Master Investor Ltd does not accept any liability for any losses suffered by any user as a result of any such decision.

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