Buy when theres blood on the streets. Thats the approach to long term killings on the stock market. I'm observing closely and will probably begin buying when I see hints of a bottom. It may be the last big opportunity to get into good value stocks at bargain prices. One mans misery is anothers fortune.
I was in Europe when the DOW drooped from over 14 thousand into the mid 6 thousand. I was watching CNN daily and remember, financial advisers at CNN almost daily announced how fantastic buying opportunity that is today, from 12 thousand all the way down to 6.5. Finally after 400 incorrect call they nailed it once.
They'll be some margin calls made today no doubt - glad all my shares are owned outright would hate to be staring at the red waiting for a margin call to come in.
Hells Bells - just able to check - portfolio down 8% but should be good when it bounces back (hopefully)
Bought gold shares. Drop in AUD should provide some relief... Add that with a likely stimulus from US (Don't think they have a choice now)... and a very very likely default by Italy. Chief concern now is Italy... to avoid default they need sharp growth. Bought Mutiny Gold (MYG). Very undervalued even with recent good results. Recently had a CR at 9.6c and raised around 9m. Target price 30c
I'm keeping an eye on BOQ. They hit a 2 year low this morning GFC2 or bust! However, don't let the excitement of leveraged traders running away cloud your judgement. This ain't the bottom yet.
Can't agree more. Have some friends who moaned almost daily for weeks about the price of their shares, then wept when the margin calls come in. Emptied their bank accounts, ran up their credit cards, borrowed from their kids education fund (and their puggy banks), then sold off what they actually owned. Overleveraged to buggery - and that's exactly what happened to them - buggered. Sad to watch. I didn't have the heart to remind them of the way they crowed about how well they were doing because they leveraged their share portfolio - guaranteed profit.
WOW!!!! - a sea of red today - strangely thou the banks only dropped on average about 3% - good times ahead for the cashed up.... hope BHP drops to $20 again and revisit the 2008 GFC prices
What kind of mileage will they get out of that though? The answer is longer than we think. Although they seem to be effective for ever shorter periods and we creep closer to the economic blackhole, there is a temporal paradox at play here. To quote Ashvin Pandurangi:
Thanks for the finger on the pulse stuff. Will keep an eye on the stocks mentioned. We will see where the US markets go when they open for their Friday. A couple of other Aussie stocks that I have visite in the past & keep an eye on are: BOW down 9% @ 96c SBM down 4.5% @ $1.70 any other mining/energy stocks?
If its any consilation Caltex's last div was 0.30c per share which is a bigger yeild compared to Origin
hi - i just joined today. - this my first post! I own some miners trading on OTC BB - but no aussie miners as i don't really know whose who and where to research - i also trade XAGUSD paper and own physical Ag. Live in Tauranga NZ. Kiwi
