Self Intro

[Yankiwi]

Hi all! I stumbled on to your web site via link on the Direct Broking website. I'm a basically a newbie to stock trading, so I'll be here looking for advice & knowledge.

I'm an American originally, but have been residing in NZ for a bit over 4 years now. While in the states I did most of my investing in gold & silver (bullion and coins) ~ buying low & selling high. I seemed to do pretty well with that but I don't foresee the same chances to do so here in NZ.

Let me fill you in on my current standings and how I got there.

I returned back from the States in Sept, with a small handful of USD's (that were unspent yay!) and a bit of gold bullion. Since I've been back I sold the gold via TradeMe (with gold still very high) and converted the USD to NZD at about .56 (bought it in the $.76 range). Then I was not sure what to do the NZD other than put it in the bank I decided to join up with Direct Broking. Since joining I've made a couple purchases. At the moment I'm 60% FBU @ 545 & 40% AIA @ 172.

My thinking is with the NZD-USD ration I was correcting in selling. With Gold still up in the $800 range it to was the time to liquidate, and jump in to the market after the recent huge falls.

In your estimation is my thinking sound or have I bit off more than I can chew?

Yankiwi

[airedale]

Hi Yankiwi, my feeling is that it might be time to get back in to gold. Too much paper money has flooded on to the market in the last few months.
Discl: holding gold stocks.

[Dr_Who]

Welcome Yankiwi. I have a funny feeling that gold may go higher from here. The are still alot of uncertainty in the global economy and the gold price graph is trending higher.

[duncan macgregor]

Golden rules for all investors to follow.
1, Get right out of downtrending markets and only get back in uptrends.
2, If in doubt get right out.
3, the market gets into prolonged up cycles followed by prolonged down cycles dont try to pick its next move until it is well established.
4, If you dont have a sell system then one day you will give back to the market most if not all your gains with the possability of losing the lot.
5, Follow the price of commodoty charts as an early indication of where the market is heading, the companies share prices follow that very closely.
The perfect example is nickel prices in 2007 where the price of nickel doubled with all the nickel companies share prices with it. When the price of nickel dropped so did the share prices. Oil is another example, Macdunk

[Laxmi]

Especially Duncan. Never too old to learn old lessons!

[Yankiwi]

Golden rules for all investors to follow.
1, Get right out of downtrending markets and only get back in uptrends.
2, If in doubt get right out.
3, the market gets into prolonged up cycles followed by prolonged down cycles dont try to pick its next move until it is well established.
4, If you dont have a sell system then one day you will give back to the market most if not all your gains with the possability of losing the lot.
5, Follow the price of commodoty charts as an early indication of where the market is heading, the companies share prices follow that very closely.
The perfect example is nickel prices in 2007 where the price of nickel doubled with all the nickel companies share prices with it. When the price of nickel dropped so did the share prices. Oil is another example, Macdunk


Thanks for that Macdunk, I'll take it on board.