I've been concerned that my part time habit of alchemy of turning silver into gold of late was going to backfire. As a result, i don't mind if silver drops for a while 'cause in the near term my spare money is going into debt reduction as opposed to accumulating metals.
Just to show how crazy the sheeple are, there is bad news about Quantas all over the news about it's difficulties and harder future prospects, what happens to the stock? It goes up almost 2%, sheer craziness.
Just in case you are interested - the reason Qantas is up is because the bad news wasn't as bad as the market was fearing or had built in. The announcement also showed that managment was preparing to do something pre-emptive about the hard times. Please note - I am not recommending this company. I do own shares but I only own them because I was issued them as a former employee and they are still under escrow. Aviation is not a good industry to be in at any time (in my opinion). If there was money in airlines - Packer would own 2 of them. Even Branson doesn't make money out of airlines. If you take Virgin Blue as a great example - he put up the front money (about $50 mil from memory) and sold 75% of the company about 2 years later for just over $200 mil. He is a smart cookie!! malachii
I'm not talking about quantas per se, I am talking about the share market that consider what you said "news wasn't as bad" & "airlines make no money". Then why are people buying stock in a company that does not make money or goes up in not so bad news because thats what people tell them. When there are other alternatives that has a proven track record of making money w just a little research - gold and silver.
Even a bad company has value - just look at the refloat of GM in the US. Now there is a dud company with a LONG history of making big losses and going bankrupt! There are plenty of good, solid companies on the stock market. Not all of them are bad news. It just takes a bit of research. Some of them are even as good a buy as silver (ducks for cover)!! malachii
