BHP-where to next?

[willair]

Got a bid in below $44.50. Might get 'em too. LOL

IMHO.
Sunfish,what do you think between late August -mid July the correction levels were around 11.6% now as we are in late October the benchmark index is up just below 20% from that correction,the way i see things is we may well have another pullback before any serious buying opportunities start..

I'm still on the sidelines but the core still remains the same, just waiting
and watching willair..

 

[Sunfish]

I raised my bid 20c and just missed in the final auction. Such is life.

Willair, I don't plot charts and therefore don't calculate percentages but I do like to see see favourable patterns. But I see a lot of sense in not being fully committed and can't fault your 30%(?) cash position. As stated below, I doubt there is much BHP specific -ve news out there but everyone's on edge. The US is losing it's Royal status and will bring many old fashioned investors down with it. The winners will be those who have a sense of just how much of the vacuum they leave behind will be taken up by China, India, SE Asia.

For Gooram, BHP had a disappointing quarter at Olympic Dam. They are famous for having little control over costs so I guess this was just BHP being BHP.

A big disclaimer here if I might: I know more about shares than the average property investor (willing to help a bit ) but somewhat less than good share traders. I read the big picture but get lazy on detail which I justify because I think of myself as a mid-term investor. Definately not buy 'n die.

 

[willair]

I raised my bid 20c and just missed in the final auction. Such is life.
The US is losing it's Royal status and will bring many old fashioned investors down with it. The winners will be those who have a sense of just how much of the vacuum they leave behind will be taken up by China, India,

Thanks for that, i'm in no hurry to buy back in just yet the way i see things we need a 4% drop to bring everything back into balance....willair.

 

[s_t]

Anyone know how to calculate an Amercian traded BHP price into an ASX one (or the other way around). I imagine it is a simple calculation regarding something like no. of shares and exchange rate, but if someone can save me the hassle of working it out that would be great

 

[Sunfish]

Anyone know how to calculate an Amercian traded BHP price into an ASX one

The best I've been able to find is that the ADR equals two BHP shares on the London exchange. The London price would be more important than the US but we are the price setters so the NYSE price should be viewed with caution.

 

[Sunfish]

Xtrata bidding A$23/sh cash for Jubilee. A 35% premium.

These bids remind punters how valuable good mines really are so it will be a good day in resources today. BHP up $1.24.

 

[topcropper]

I sold JBM a few years ago for about $6, after doubling my money.

See ya's.

 

[Ausprop]

would love to put more in the market but it seems to keep running up. if it was going to crash I wish it would hurry up

 

[BV]

would love to put more in the market but it seems to keep running up. if it was going to crash I wish it would hurry up

It will happen when we least expect it.

Cheers

 

[Welcome]

I am hanging out til the 6th 7th and 8th of November to clean out some of the 'trash' from my portfolio. That way can get CG exemption for my spring cleaning. It feels like it is taking forever.

So going by what I have just said, must mean the market will tank on the 5th

 

[Sunfish]

would love to put more in the market but it seems to keep running up. if it was going to crash I wish it would hurry up

Herein lies the problem with bottom fishing.

So you wait for a correction, but when it comes will you pull the trigger or wait a little longer?

So you wait for a correction, but when it finally comes will you be buying above or below today's price?

Check the BHP thread. Last Thurs I had a bid in at the final auction but missed by a few cents. It is up $2 since. I'm philosophical about that because trading is really a sport, but investing isn't. If you have a charting program you can use that to help time your buying better, but even there you should do no more than pick the lower side of a trading band. (It is a given that that band should be rising. )

I wish I said it first but: Picking bottoms just gets dirty fingers.

 

[willair]

So going by what I have just said, must mean the market will tank on the 5th

Just ask yourself one question, how many people in China want a better life and now have the money to pay for that lifestyle,in new airports,railways,and everything down the line,AUSTRALIAN companies can supply everything they need for the next 25 years,one bump in the road means nothing over 25 years and beyond..willair..

 

[Welcome]

I agree however at the moment I have 81% of my equity in shares. I think I need to re-adjust that to feed my new property addiction!

 

[Ausprop]

Herein lies the problem with bottom fishing.

So you wait for a correction, but when it comes will you pull the trigger or wait a little longer?

So you wait for a correction, but when it finally comes will you be buying above or below today's price?

Check the BHP thread. Last Thurs I had a bid in at the final auction but missed by a few cents. It is up $2 since. I'm philosophical about that because trading is really a sport, but investing isn't. If you have a charting program you can use that to help time your buying better, but even there you should do no more than pick the lower side of a trading band. (It is a given that that band should be rising. )

I wish I said it first but: Picking bottoms just gets dirty fingers.

well I am smug with my decision to go in as hard as I did in the August correction. Market commentators suggesting 20% corrections get me edgy tho. but you are right... I have sat back and watched them see saw all the way up

 

[evand]

I prefer to pay market for an upward trending share ( i like to see a consistent single trend of 3 months but thats flexible) to make sure i get it instead of waiting for a dip. I nickled and dimed once with ASX a few years ago and missed it. It took off i and havnt done it since.

Plenty of opportunities have been lost this way and the problem is again in the psychology of trading/investing.

When i look at the depth of some shares (eg: JBM yesterday) and see people holding out buying or selling over 2 or 5 cents on a $24 dollar share, well thats madness and i call it nickel & diming.

By the way, did anyone else make a gain on JBM yesterday. I made about $9 each on 3000 shares. Gotta take it while its in front of you

 

[topcropper]

I'm going to take some profits today.

Clean up my portfolio. Reduce my debt for a buying opportunity when the next big dip comes. Maybe reduce my share debt altogether if it keeps going up.

Plus, this Oz $ is going to effect profits for a lot of stuff. Not neccessarily resource stocks, because resource stocks are linked to the Oz $ and our economy. Don't think I'll be selling BHP.

See ya's.

 

[TheCamel]

today is feeling good.
gonna try a day trade on OXR...

also, tipping BHP to top 50$ by the end of this week/start of next.

 

[s_t]

today is feeling good.
gonna try a day trade on OXR...

also, tipping BHP to top 50$ by the end of this week/start of next.

I'm thinking BHP and RIO are in for some sideways consolidation.

Who knows.... now we just need someone who is expecting a crash in BHP and we've got all areas covered

 

[willair]

now we just need someone who is expecting a crash in BHP and we've got all areas covered

You only have to look with BHP,and the 13 billion buy back program from what i read they have only bought back under $3 Billion shares,one would think just the buy back alone would return cash to it;s shareholders in several different ways,no 1 the face value will rise..

But i also intend to sell down this morning Woolworths will be turned into cash this morning ,the P/E on woolworths is now on the wrong side of the line for me...imho..willair..

 

[BV]

Are we there yet?
Cheers