Kingfisher for 25/06/2019

#Gold #SP500 A bloke at B&Q (owned by Kingfisher) provided part of the reason many folk in the UK voted for Brexit. Buying a replacement WC turned into a headache with the discovery EU Regulations apparently intrude in the toilet. Modern loos, such as sold in B&Q and every other bathroom showroom I was dragged around, don’t flush properly. Everyone knows but no-one has addressed the issue.

The problem, apparently, came from Brussels and a demand we embrace “water saving”, enforced with a 4 litre or 6 litre flush. It would be difficult to find a plumber who approves of these modern designs and a need to flush the things 2 or 3 times. Thanks to Google, it was quickly established our existing loo had a 13 litre flush and we’d be daft replacing it. The bloke at B&Q was convinced dodgy toilets formed a convincing reason for people voting to leave!  It can be safely assumed I did not go into last weekend with the expectation of learning about toilet flushes. It is even the case regulations only apparently effect new installations, whereas the bulk of sales will be for folk upgrading existing installations of bathroom furniture.

Surely, the Daily Mail must embrace a headline about “Brussels and A Busted Flush!”

We’re not entirely convinced B&Q’s choice of stocking EU Approved WC’s is entirely the reason for their falling share price, despite the company not stocking a single WC which matches UK slightly less restrictive regulations. For now, it appears our downstairs loo is fated to remain with its peculiar square seat design, thanks to a company called Shires with a sense of design humour.

It appears weakness now below 201p on Kingfisher shares should flush the price down to 184p next, a point at which we’d expect some sort of rebound. But take extreme care, should 184p break as it could easily drain down to 166p next. Worse, from a Big Picture perspective, the share price is already trading in a region where negative news could drip the value down to a bottom, hopefully, at 142p in a blink.

For any near term bounce to prove viable, the share price requires exceed 222p to enter a cycle toward an initial 235p. If exceeded, we’ll be suitably convinced bottom is “in” (for now) and hope, if 235p bettered, our calculation of secondary at 249p shall prove valid.

Finally, apparently there is a vibrant market for 2nd hand toilets with “proper” flush capability, though it does not come close to matching cross border illicit trade between USA (regulated toilets) and Canada (unregulated toilets)…

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
9:46:44PM	BRENT	64.23									‘cess
9:50:20PM	GOLD	1418.61	1400	1395	1386	1412	1422	1430	1438	1411	‘cess
10:03:45PM	FTSE	7406									‘cess
10:07:11PM	FRANCE	5509.5
10:09:06PM	GERMANY	12257
10:10:59PM	US500	2947.02	2943	2935.5	2926	2956	2956	2959.5	2965	2945
10:13:06PM	DOW	26747.5
10:16:33PM	NASDAQ	7729.62
10:18:36PM	JAPAN	21201

 

24/06/2019 FTSE Closed at 7416 points. Change of 0.12%. Total value traded through LSE was: £ 5,145,390,114 a change of -65.74%