BHP-where to next?
- Thread starter vla
- Start date
I might wait and see if it hits the $27-$29, probably wishful thinking, but there is so much gloom and doom out there at the moment I think it may take some hits over the next couple of weeks.
I missed some great opportunities over the last 3 years and hopefully I can make up for it.
All the best to everyone.
I missed some great opportunities over the last 3 years and hopefully I can make up for it.
All the best to everyone.
Why are either better than gold?
With all the talk of interest rates going up, I figured the big winners will be the banks. Yesterday I bought 250 CBA shares @ $53.08. Including franking thats a 6.89% return. On my loc of 7.69%, I will only have to come up with 0.8% to hold them.
Interesting day coming up
The Australian market is expected to open with sharp losses, as weak base metal prices and the slide on Wall Street take their toll.
At 0700 AEST, on the Sydney Futures Exchange, the September Share Price Index was down 79 points at 5702.
The Australian market is expected to open with sharp losses, as weak base metal prices and the slide on Wall Street take their toll.
At 0700 AEST, on the Sydney Futures Exchange, the September Share Price Index was down 79 points at 5702.
Check out the Perth Mint. You can buy Au & Ag on line. You should be able to buy common date sovereigns in average conditions at spot + 10%. Each contains .2354oz of pure Au @ A$814/oz so there is $192 of gold in the coin. You could do that on ebay or from London dealers. They are well known around the world and in much more convenient size than a 10oz bar. You can take physical possession of coins but if you do so with bullion bars you may need to have them re-certified if you wish to sell.
Or you could buy the miners and get leverage, but remember their costs are rising faster than inflation so some will struggle, even with the high prices.
This is turning into a nightmare for some. There is no end in sight. I would not be surprised if the all ords go to 5500. The good times in Australia is showing cracks as the ASX is the worst performing stockmarket compared other countries.
BHP is at the 30 week moving average now. I hope to see some support here but if not then previous support is around $24.00. I'm just waiting patiently for now and not buying anything even though I'm all cashed up.
The ASX index dropped through the 30week MA like a hot knife thru butter so who knows where it will stop.
The ASX index dropped through the 30week MA like a hot knife thru butter so who knows where it will stop.
After today there will be some tears but also tremedous opportunity appearing.
No ones buying. Everyones waiting for a bottom. Overgeared dudes are being called to sell. Worry warts are panic selling. Positive geared opportunities appearing.
Wow this is entertaining.
See ya's.
Wow this is entertaining.
See ya's.
ZFX must have a PER well under 10 by now and it's looks like opening 50c down today.
You can also try
www.ausbullion.com
Currently listing
Sovereigns - Queens (selling): $ 225
Sovereigns - Kings (selling): $ 225
Cheers
With all this red, I'm going to need a new color cartridge for my printer. 
CBA Today
Read that $52.47 for CBA, Brenda Irwin.
As we speak.
The volatility in the market shrouds finance/bank stocks. I would have waited for the proverbial dust to settle before making a foray. Although picking the trough can be a toss of a coin.
Lizard King
Read that $52.47 for CBA, Brenda Irwin.
As we speak.
The volatility in the market shrouds finance/bank stocks. I would have waited for the proverbial dust to settle before making a foray. Although picking the trough can be a toss of a coin.
Lizard King
That's exactly why I only bought 250 shares. Could get more yet, but content to watch for the moment. Wouldn't buying at $50 be a trip?
I am pretty close to the margin call situation (which is not a problem really as I have cash set aside for this) but my main question is whether comsec will call me to get more security or whether they will simply go ahead and sell my shares to bring it below the margin call level?
Just wondering.
Just wondering.
They should email you or call if your's is a phone account, but I would lighten up anyway. Don't ride them all the way down.
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