Bargains after the carnage of today!

[biology12]

Thought id start a thread after the big drops today!

LGD will be looking good after this, as well as ORG,

[drillfix]

Bio,

Be careful mate, as what bargains you find may end up costing you. Thats not to say you dont or wont make money, but its just a precaution to note that there will be some stocks that bounce which will make an excellent time to sell, but then they will continue downwards again as global markets and the XAO track downwards.

Plenty of stocks to choose from as you have already pointed out, but even plenty way more if you look around, as its everywhere.

[Skol]

I picked up a few TLS at 2.86, still have some dry powder so might be looking at some others over the next day or 2.

[drillfix]

Would be good if anybody has a list of long expiring options available so we can compare options prices with long expiry to see if there are any wacko true bargains out there.

Currently still managed to stay out and have 98% cash out yet just so tempted to grab something, my discipline has kicked in as I feel there will be more (yet again) to come.

But anybody got a Options List at all?

[Corporate]

KAR is getting smashed!

I'd definitely be keen on seeing a long dated option list too

Wish I was 98% cashed up. 30% isn't too bad

[evilroyrule]

im doing work on the following:

cajo
pgcoa
smdo
ndlo
robo
mygoa
cvgo
cvgoa
and....

whoooaaaaa. so far today powder is dry.

[yabster]

when did you cash up Drill? I'm gettin caned a bit at the mo!

Use to be a tables in afrsmartinvestor- but that site seems to be non existent now (i still have the spreadsheet from them but is fronm Nov 2010)

Kees posted this link on the options thread- seems to still work- but basically gives you all the options on ASX - so lots of sorting to do.

http://www.tradingroom.com.au/apps/validateCodeLookup.ac?returnUrl=%2Fqt%2Fquote.ac%3 Fcode%3D&linkType=0&page=1&kw=&securityType=2&descContains=0&sortBy=0&next=CAHOA

[drillfix]

when did you cash up Drill? I'm gettin caned a bit at the mo!

Use to be a tables in afrsmartinvestor- but that site seems to be non existent now (i still have the spreadsheet from them but is fronm Nov 2010)

Kees posted this link on the options thread- seems to still work- but basically gives you all the options on ASX - so lots of sorting to do.

http://www.tradingroom.com.au/apps/validateCodeLookup.ac?returnUrl=%2Fqt%2Fquote.ac%3 Fcode%3D&linkType=0&page=1&kw=&securityType=2&descContains=0&sortBy=0&next=CAHOA


Nice post there Yab, and thanks for the link. Pitty it doesn't have the prices though but ahh well.

Have posted about being cash out in the All Ords threads off and on for quite some time now, or ever since the 2nd new lower low and lower high, as I took that as a sign to wind things back and to cut down on my adventure trades.

I had still off and on gone in an out of some trades though so I would be 50% in, but then unwind with calling support levels as mentioned on the All Ords thread.

In, out, in out, but trying to keep out at present. But when I say 98% out, that is for my Day Trade Account as I still hold stock in my long account which I wont touch regardless for a year or two so I am not worried about that, but primarily my day trade account.


Still may jump in on evidence on a bounce or a worthy trade, but those type of trades will be do not hold for long type trades, should and when they come.

Hope all is trading well for you~!

[kenbeth]

might help

http://www.companyoption.com/optionspremiumdiscount

ken

[drillfix]

might help

http://www.companyoption.com/optionspremiumdiscount

ken


Bingo Ken, Thanks heaps there mate, Excellent link~! :)

[yabster]

thks Ken - interesting list - the discount/premium % is useful too.

[shasta]

Thought id start a thread after the big drops today!

LGD will be looking good after this, as well as ORG,

PDM seems to have been hit much much harder than the ASX 4% drop, really is some irrationale selling today, yes the market momentum is downwards, but does a companies fundamentals change overnight cost Democrats cant reign in there healthcare & debt in the States?

I will update all the Negative & LOW EV threads over the weekend & highlights those who have been hit the hardest

[biology12]

shasta,

cheers for that, that will be great. got a bit of work to do over the weeknd, sold out of acb in the 40s so pretty stoaked. on the lookout.

drillfix, cheers for the word of caution haha i have to restrain myself. hopefully monday isnt another repeat of today!

thoughts on AYN, bouncing back to 11 or 11.5? gotta run me sum MACD graphs off metastock

[axion]

PDM seems to have been hit much much harder than the ASX 4% drop, really is some irrationale selling today, yes the market momentum is downwards, but does a companies fundamentals change overnight cost Democrats cant reign in there healthcare & debt in the States?


It really is an interesting dynamic to watch, the way sentiment changes on a dime and suddenly the world is ending when seconds before things were not too bad.

Also a bit depressing since, as we know, the economy is at least partly a function of confidence, and a sea of red on the markets doesn't inspire a whole lot of confidence. Particularly when it's accompanied by mass doom-saying, which then becomes self-fulfilling and perpetuating.

[shasta]

shasta,

cheers for that, that will be great. got a bit of work to do over the weeknd, sold out of acb in the 40s so pretty stoaked. on the lookout.

drillfix, cheers for the word of caution haha i have to restrain myself. hopefully monday isnt another repeat of today!

thoughts on AYN, bouncing back to 11 or 11.5? gotta run me sum MACD graphs off metastock

Before market opens Monday you will see the overnight movements on the DOW + Gold & Silver, that should give you an indication of Mondays activity.

People need to realise the US solution to there debt problem was to increase the cap of debt, they havent fixed the problem!

Expect an austerity emergency budget at some stage to highlight where the cost cutting will come from, probably healthcare, & time for there miltary & space missions to wind down dont ya think!

The democrats are now virtually hamstrung & at the mercy of pandering to the Republicans, so the market sentiment is likely to be negative til some tangible solutions are passed, should the US slide back into a technical recession the sh*t will hit the fan & i'd expect Gold & Silver to surge.

Bio - have a look at AYN & CCU (Silver) as producers/near term + PEX & ELT for Gold/Silver explorers with decent grades.

I liked GDO as a Gold producer, but they are subject to takeover @ 55c, so IGO & MUX are worth looking, i prefer Gold companies with other metals ;)

[Huang Chung]

ZYL was smashed 17.1%, even after releasing from good anthracite coal intercepts at their flagship Kangwane Project.

I was topping up yesterday, and am looking for a mild rebound come Monday.

[Sauce]

ZYL was smashed 17.1%, even after releasing from good anthracite coal intercepts at their flagship Kangwane Project.

I was topping up yesterday, and am looking for a mild rebound come Monday.

Hi HC
Did you buy any ANG on Friday? Finally a sitting duck with a hefty discount after being fully valued for awhile. Rewards to the patient!
Potential for earnings surprise on the upside also (I think they report on the 18th? might have that wrong) if I am not mistaken.
Regards,
Sauce

[drillfix]

Yep there sure where a great many stocks getting smashed on Friday, thats a fer sure.

Whist in fact, I am getting dizzy thinking about which one I could have, or should have bought.

Here is a of the the top 50 Losers on Friday and it seems you would need to have lost 20% gains to be in it.

XAO LOSERS = RED > http://www.imageurlhost.com/images/ara1rosxvstoj9w0uk_Losers.png


Maybe I should have set it to 100 list and then both ZYL and ANG would have been listed, yet all the same, huge falls are huge falls nonetheless.

(Also, on a cautionary note: all the stocks on that list may or may not have any potential or as good as potential as other stocks.)

[biology12]

any word on the US data?

il prob see how the nzx goes on monday between 10-1220 and judge how the market responds ta see if i drop some coin in. really liking ANG and SDL.

drillfix, any taken ur fancy so far?

[drillfix]

Hi Bio,

Mate, I am primarily near all cash out in my trading account and if I do come in for a hit, there are many to choose from to do this.

I like HC's entry on ZYL and if I were to going to be holding a bit longer then that sure would be one candidate (yet I will need to check some charts). But how long is longer? 2 days? 1 week? 1 month? Long to me is how long the chart looks like I should hold.
(for day and swing trades)

What we must be careful is to watch for any bounces the profit takers will come out and such rallies can be short lived. Meaning if you also dont take profits on any surge upwards you are either back to square 1 or near ready to take a small loss if markets continue to drop.

Sometimes I will be in a trade for 10 or 15 minutes or even less depending on or due to the nature of these so called "relentless markets".

Plenty of stocks out there BIO, but it all depends on what your expectations are and what outcome either short or long term you are seeking, hence comes what question being what sort of Risk and Reward are you after and how much are you prepared to sacrifice to find out that you are wrong should this happen.

I also like some Goldies as quite a few of them seem to hold up much better in this type of environment. (and some silver too).

So sorry I dont name them off the top of my head at present as I wont really think much about what I may, might, could or should do until Sunday night and then Monday Morning, but the US has has a green close on Friday which may act as a positive lead, Yet Euro Futures are quite red and seem ready for more falls so I remain quite neutral in any actions atm.

Good luck Bio and Happy Hunting :)

[Huang Chung]

Geez Sauce, ANG did fall out of bed, didn't it? It will be interesting to see if any of the directors step up to the mark and buy, given they were sellers around $4.75.

US jobs report should be a positive for us on Monday, but I'm not sure if the S&P downgrade will be a negative, given that every man and his dog was expecting it. Maybe getting the downgrade behind us will even be taken as a positive, in that it at least removes the uncertainty.

[Corporate]

so now that the US has been down graded are we in for a horrific week?

In hindsight I should have sold everything on Friday.

My main watchless is MAD, AWE, KAR, MEO and WPG.

[Huang Chung]

You can validly argue the toss on a number of levels....

S&P downgrade was after the US close, so hasn't been factored in yet.
Already factored in, as it was talked about so widely.
Already factored in, based on the intra-day rumor that produced the big swing down on Wall Street on Friday. Market then rallied to close positive.
People in the Australasian markets will dump stock on Monday, not waiting for confirmation from the US on Monday night.
Those that can't stand it any more or hit with a margain call will dump on the open, but bargain hunters will step up and buy.

Who really knows.

[JBmurc]

couple bargains I hold that have been smashed thur-fri--worth millions less than the cash they hold?
PSA-sold down to 34mill Mrktcap has 47mill in cash 13BCF Nat Gas reserves
KRE-sold down to 12mill Mrktcap has 16.9mill in cash 25% ownership of JORC rare earth deposit

[Corporate]

Thanks HC, or insider trading on the 500pt drop :-)



You can validly argue the toss on a number of levels....

S&P downgrade was after the US close, so hasn't been factored in yet.
Already factored in, as it was talked about so widely.
Already factored in, based on the intra-day rumor that produced the big swing down on Wall Street on Friday. Market then rallied to close positive.
People in the Australasian markets will dump stock on Monday, not waiting for confirmation from the US on Monday night.
Those that can't stand it any more or hit with a margain call will dump on the open, but bargain hunters will step up and buy.

Who really knows.

[Corporate]

couple bargains I hold that have been smashed thur-fri--worth millions less than the cash they hold?
PSA-sold down to 34mill Mrktcap has 47mill in cash 13BCF Nat Gas reserves
KRE-sold down to 12mill Mrktcap has 16.9mill in cash 25% ownership of JORC rare earth deposit

JB, can KRE management be trusted after the NAV debacle? Keen to here your thoughts as I don't follow KRE at all.

Also the market cap of KRE is $16m not $12m. There's 125m shares on issue.

[drworm]

Been going through the spreadsheets this afternoon and putting together a list of possible targets. When stocks are getting smashed across the board, my idea is to go for the quality companies that have always been a tad too expensive. So ANG is definitely one I'm watching.

A quality company that I hold that's been getting battered from pillar to post is CCP. Everything you could ask for, increasing ROE, declining debt, good cashflow, growing earnings, now trading at a P/E of 8 based on my FY11 EPS calc (48cps). Would like to top up, but I feel I have too many already...

One of the best prospects on my target list is MCE. MLD (rock-solid order book) and ANG are also ranking highly.

[Sauce]

Been going through the spreadsheets this afternoon and putting together a list of possible targets. When stocks are getting smashed across the board, my idea is to go for the quality companies that have always been a tad too expensive. So ANG is definitely one I'm watching.

A quality company that I hold that's been getting battered from pillar to post is CCP. Everything you could ask for, increasing ROE, declining debt, good cashflow, growing earnings, now trading at a P/E of 8 based on my FY11 EPS calc (48cps). Would like to top up, but I feel I have too many already...

One of the best prospects on my target list is MCE. MLD (rock-solid order book) and ANG are also ranking highly.

Your a smart man Drworm. I loaded up on MCE on Friday.

Let's hope for some more turmoil tomorrow, could go either way.

Regards,

Sauce

[macduffy]

and ANG are also ranking highly.

It's on my watchlist too, drworm.

But the SP has dropped like a stone for several days now. I suspect there's more to that than general market weakness so caution needed, IMO.

[Sauce]

I understand the wisdom in your caution Mac, but I have a strong conviction that those betting heavily against market sentiment will do very well backing ANG.

IMO If ANG was the only share that dropped like a stone, it might be worth waiting for the result. But the last few days have seen many very very good businesses drop by similar amounts. They won't all be harboring dark secrets. :) Perhaps even none of them (particularly those that Drworm mentioned).

Not to mention the fact that all of ANGs markets are booming right now

Not long till we find out! :)

[JBmurc]

JB, can KRE management be trusted after the NAV debacle? Keen to here your thoughts as I don't follow KRE at all.

Also the market cap of KRE is $16m not $12m. There's 125m shares on issue.

true forgot the escrow NAV shares....

KRE Mgmt =CEO+expl manager+secretary haven't had anything to do with NAV --------------- 3 non-exe director/chairman are from NAV......

analyst report-
www.kimberleyrareearths.com.au/files/files/66_KRE_Report_-_June_2011_-_Final_2011-06-17.pdf

The Cummins Range resource has a similar REO composition to Lynas Corp's Mt Weld deposit and, as a result, also has a relatively high REO basket value (see Figure 1, p.2). Importantly, the Cummins Range basket also has a high value in comparison to the only currently‐producing major REO mines; Bayan Obo (China) and Mountain Pass (USA).

At April 2011 prices (~50% increase from March prices), the Cummins Range resource is estimated to contain 120,000 tonnes REO or US $12.4 billion in contained value at a 1.0% REO lower cut off grade.
-KRE will gain 55% on spending 10mill within 4yrs 80% on DFS

[mark100]

Been going through the spreadsheets this afternoon and putting together a list of possible targets. When stocks are getting smashed across the board, my idea is to go for the quality companies that have always been a tad too expensive. So ANG is definitely one I'm watching.

A quality company that I hold that's been getting battered from pillar to post is CCP. Everything you could ask for, increasing ROE, declining debt, good cashflow, growing earnings, now trading at a P/E of 8 based on my FY11 EPS calc (48cps). Would like to top up, but I feel I have too many already...

One of the best prospects on my target list is MCE. MLD (rock-solid order book) and ANG are also ranking highly.

Agree that CCP is looking very cheap. I sold out a few months ago in the $5.50s and have been keeping an eye on it. The market didn't like the disclosure a while back about future ledger purchases been lower than expected. That will impact their growth to some extent.

[biology12]

thoughts? only one gainer on the nzx so far, will be an interesting day from 1220pm when the asx opens.

dnt think il be going to my classes today! bhp so cheap!!

[mark100]

KW, any idea of VOC's earnings for FY11? It's been a bit hard to keep track of what is happening with their multiple acquisitions. Not holding at present but watching

[biology12]

cheers mate, yeah im eyeing lgd big time.

really liking NAB and anz also wbc. just read ther got a big div kuming up. 7% thanks man

wish i had more cash.

drillfix, how u going, jumped in yet?

[tricha]

thoughts? only one gainer on the nzx so far, will be an interesting day from 1220pm when the asx opens.

dnt think il be going to my classes today! bhp so cheap!!

ASX open 1200 and they are throwing lollys out the window.

I picked up MCR and PAN.

[biology12]

nice, if u got in early u would have already posted a gain.congrats.

help please: i cant find the final div date for nab and anz i can only find the interim date? anyone know? haha i swear its right in my face but i just cant find it

[drillfix]

drillfix, how u going, jumped in yet?

Not yet Bio.

Must admit starting to drool a bit on some stocks but keep an eye on the movements here first:

http://www.bloomberg.com/markets/stocks/futures

US futures look quite red and still some stuff in the EU to be sorted so dont really want to pre-empt any buys so my discipline is holding up quite well although I am extremely temped to say the least, but not quite there yet.

[biology12]

yeah mate, they do look a bit red not as big of falls as per black friday ha. still waiting as well in a law class at the mo havent learned a thing. really liking some of the banks

post something if u jump id be keen to see where u go. tricha picked gd

[drillfix]

Looks like the wait for those whom waited may get some benefit from waiting.

There were some trades to be had, but you could see the market turning back again so those who hold may end up at a loss come tomorrow.

It appears the XAO 4,000 level will be tested soon.

[moimoi]

Drilly...go and have a look at LCY....its been one of the few showing a bit of love the past few days :-)

[biology12]

wish i held and didnt buy for one, lgd gd run, but one i got into bombed a few percent. going to drop in a bank i think maybe wbc.ax however i hope its not i massive drop in the markets like 09 where all the banks got demoed.
buy and hold?

nah thats to boring

[biology12]

drillfix, you come close at all to getting in?

[drillfix]

Bio, I came close to a trade but thats it. I never clicked the buy as there is still way too much volatility going on here.

Do you read the All Ords thread? This will tell you where the overall Tide is yet its quite easy to work out if the ASX keeps falling down the rabbit whole.

With regards to a buy, I honestly would rather pay a Premium to be on the right side of the trade Bio.

Bio, would I be right in saying that you seem jittery with a overwhelming feeling that you must be in the market or something?

Dont worry it mate as there could still be a lot more falls on the way. (IMO).

Also sometimes if I do a trade, I may only be in for 5 minutes and then out. I will let you know when I take a long or swing trade though yeah.

(ps: also, its not hard to not buy anything without having lots of upside so also see what others are buying, intending on buying and have avoided buying, or how much have they saved from not buying etc etc).

[biology12]

haha yeah i think you could be right. just that theirs heaps of stocks ive been casually following for a while and they seem so cheap.
i can imagine that if things dnt improve in the big markets, werl be needing a long stick to fetch that rabbit out.
nah i dnt follow that thread but will do now,

think il take a rest for tonight on the buying and just c what the go is at the close.

might do some homework and catch up on the stuff i missed today sigh... succession homicide bill 2007

cheers drillfix,

bio

[Corporate]

Wow its getting very nasty out there. I've pretty much cleared the deck on everything I was holding except a couple that are just to illiquid (or I only hold a few) and MEO which is below cash backing and I'll holding until Heron 4.

I just can't believe KAR. Scary times looking at that chart!

[JBmurc]

Dow futures now down to -120 from being -300 I'm betting the Dow will be pretty flat neither here or there tonight
EUROPE market up the FTSE up 4% .....
100% holding ASX shares low cash in the call account -holding 1500oz silver bullion- insurance/kiwi saver

think we'll see a better day tomorrow on the ASX

[ob1kinobi]

Hey Bio,

It doesn't pay to get over excited, regardless of the market conditions. i.e panic or fear. Its just too easy to make mistakes.

What you need is a clear head and a sober judgement.

[shasta]

I see RXL off the LOW EV list is back down to 2.9c after hitting 4c last week.

EV approx $6m (incl $4.4m cash + JV funding for flagship Zinc/Lead project by Teck, which is a decent size resource for a resource spec!)

Also has interesting Nickel & Gold & Phosphate projects

Certainly worth reading the June quarterly & company presentations

[Stranger_Danger]

I'm resisting the urge, and expect to keep resisting for a while. Am 75% cash, but getting butchered on the rest like everyone else.

The old saying that stocks go down a lot quicker than they go up has been proved true once again...

[JBmurc]

Dow futures now down to -120 from being -300 I'm betting the Dow will be pretty flat neither here or there tonight
EUROPE market up the FTSE up 4% .....
100% holding ASX shares low cash in the call account -holding 1500oz silver bullion- insurance/kiwi saver

think we'll see a better day tomorrow on the ASX

Or maybe the yanks will go nuts DOW down -634 ,think I'll go snowboarding today forget the markets for awhile not selling or buying ,let the fools go nuts an find the bottom value for their shares

[37degrees]

...and that was an ugly close on the dow.
Like a lot of you, I'm sitting on my hands at the moment.
Lot's of tasty bargains out there, but I think I'll wait for Ben to announce some more money printing before I jump in.

[skeet]

Like the streets of London the carnage should continue today on the markets, only brave buyers out there atm

[h2so4]

Hey Bio,

It doesn't pay to get over excited, regardless of the market conditions. i.e panic or fear. Its just too easy to make mistakes.

What you need is a clear head and a sober judgement.

I'll drink to that Ob1

[Skol]

TOL is one I'll be looking at , good P/S, P/B, P/E, not too much debt. Not just yet though.

[drillfix]

Where is Bio today?

Bio, so you know mate a releif rally is in play so buy anything you think is value and holding for a day or two.

Good luck.

[drillfix]

BIO, are you there mate??

Today is the day, Buy whatever you have been waiting for. You asked when it is shopping time, and I am telling you now, the shop has been open for quite some time and more importantly you will/could/should be now on the right side of the trade. (from a couple hours ago or so).

A couple of examples of buys were AUK, ACB, ECM, XCD, POZ, ZYL.

[Omega]

Today's best buys were in the 1st hour of trading with up to 10% gains by closing.

[drillfix]

Today's best buys were in the 1st hour of trading with up to 10% gains by closing.

Yes so very true there Omega. All very easy to see in hindsight.

Yet if the markets were still -200 in the red, then I dont then believe any buy at any level would have been a good time to buy.

Dont ya think? But I guess its up to each of us to take on whatever amount of risk we wish to have. More the better on a day like today, with hindsight :P

[drworm]

Having been much too early during the GFC, I hope I'm not again. Started accumulating some MCE this afternoon

[drillfix]

I think you will be fine drworm, the Hourly chart is in your favour and Williams%R also triggered a buy signal with upward higher divergence, yet MACD is still way down there both on histogram and signal lines.

Overall, dont forget to sell at some stage though will ya, as not all relief rallies last forever or go for huge amount of times so keep alert in times like these, IMO.

[Sauce]

Having been much too early during the GFC, I hope I'm not again. Started accumulating some MCE this afternoon

I highly doubt this will get even close to GFC type panic. Global fundamentals are not great, but financial system collapse is not on the cards (And by all accounts it genuinely could have been during the GFC).

I was also buyer of MCE at $5.16, and ANG at $3.28.

Volatility from now matters not.. looking forward to the results, and a few more years of strong business performance.

Regards,

Sauce

[drillfix]

How did everybody else out there go?

As in Liz, soulman, JB, ER, Strat, Percy and gang, how did everybody go today, was there much topping up or bottom picking for you guys going on today?

Actually, has anybody seen Gaz? I wonder how he is going and what he grabbed on a day like today? Gaz mate, are you there?

[troyvdh]

...up 12k......

[JBmurc]

How did everybody else out there go?

As in Liz, soulman, JB, ER, Strat, Percy and gang, how did everybody go today, was there much topping up or bottom picking for you guys going on today?

Actually, has anybody seen Gaz? I wonder how he is going and what he grabbed on a day like today? Gaz mate, are you there?

yeah green today by a bit better than what I thought it was going be after the DOW crash
ASX followed the euro markets more ......S&P dow futures pointing upwards could we have seen the bottom in may shares today I think so.
looks like most gold shares went up today except my two

[Lizard]

Hi Drilly, I'm not much of a trader. I got one small parcel - about 1% of portfolio, so nothing of consequence. The divi shares generally came back well apart from MLB.

[percy]

How did everybody else out there go?

As in Liz, soulman, JB, ER, Strat, Percy and gang, how did everybody go today, was there much topping up or bottom picking for you guys going on today?

Actually, has anybody seen Gaz? I wonder how he is going and what he grabbed on a day like today? Gaz mate, are you there?
Have not brought or sold anything in the last two days.What cash I have ,I been trying to hold onto.Brought a small parcel of AWF [nz] for the wife on Friday.In fact it was the balance of an unfilled order.Was pleased to get them at $1.85.I have one reasonable order in the system where I am the highest bidder on a very illliquid stock.My wet and forget portfolio is holding,but I am looking pretty sick on some of my spec miners,AIR [au] has fallen the most with the CEO resigning after only a few months.Most of my large holdings are in companies with strong balance sheets,paying divies,and so I am happy to hold.Would have been nice to be in a stronger cash position to add to my holdings,but am lucky to have a good spread of interesting companies,so am "perfectly positioned" for the upturn.!!!!

[soulman]

I bought and sold today. WBC, NAB, QBE, RES. Didn't want to keep too much overnight. I will carry MND, NFK, KBL into the next day

But as with you Drill, liked to get a better price early morning. It was overdone but no one knows for sure. When the market recovers to 170, I thought maybe we'll finish less than 100 but up 40, geez whiz. Hence, that's why I offload for risk management.

[Omega]

Yet if the markets were still -200 in the red, then I dont then believe any buy at any level would have been a good time to buy.Dont ya think? But I guess its up to each of us to take on whatever amount of risk we wish to have. More the better on a day like today, with hindsight :P

Being an investor rather than a trader, I eagerly await days like these and picked up 5 of my buy orders in the lucrative morning session and missed on a couple trying to pick the bottom. Having said that, I also picked up a few orders yesterday which I considered good buying, only to find them cheaper today! No regrets though as have been sitting on the sidelines for six months and struggling to restrain myself over the lsat few trading days.

[drillfix]

Well, good to hear and thanks for sounding off folks.

Yes Omega, that's understandable regarding the long term positions, so good one on that, well picked.

Tomorrow is another day, US futures only partially in the red with more worry seemingly from UK if anywhere with riots and burning and stuff. Though how that relates to the market, I dont know.

As always, time will tell, but fingers crossed for some slight upward movement tomorrow.

[Huang Chung]

As always, time will tell, but fingers crossed for some slight upward movement tomorrow.

Well Drilly, we should hopefully see something more than a slight upward movement today.

Stocks I'm holding that look primed for a bounce include:

ZYL - beaten down, despite continuing good news flow.
MTE - current valuation of their substantial thermal coal resource is around 8c a tonne.
MLM - holding 46% of MTE, so should track whatever MTE does. Loads of value not priced in by the market.
BDR - near term gold producer. Iron ore potential now just being realised by the market.

Looking forward to making back some recent losses.

[JBmurc]

Dow up 3.7% S&P up 4.7% biggest move up in over 2 years ...
Should be a ripping good day on the ASX with the buyers of the scared sellers laughing at their rock bottom buys


I brought more SSNO at 7.9c monday I see last night on the AMEX the heads went up 25% LOL should see a 30% min move on the opts today

[biology12]

hey guys and drillfix, i had work yesterday haha and had to finish my assignment on homicide,

i got into ang however not as gd as others but still cheap compared to the other day.

am looking at zyl and and mcr?

not shore any feedback b4 1pm would be great as i have to do a presentation.

glad for all you guys who ripped up yesterday, all those sheep who sold over fri and mon will be kicking themselves, (only if those indicators come in earlyier in the post)

i hope the mops are out in force and are cleaning that blood up,

cheers

[biology12]

great start nzx, banks are carving up. get up anz

[trackers]

^ Up 7% geez not bad!

[drillfix]

Well Drilly, we should hopefully see something more than a slight upward movement today.

Stocks I'm holding that look primed for a bounce include:

ZYL - beaten down, despite continuing good news flow.


I am with you on that one there HC, off to a nice start today and a real nice lead from global markets to aid a nice bounce for today.

[Rusty]

CTM, MLM and SSN were my picks today, just missed out on all of them.

[drillfix]

Was a bit disappointed in myself for missing some trades in both NTU, LNC, PDN, etc which classically all have had fantastic bounces.

Ahh well Ce La Vie.

Gazprom, are you out there? or are you in Thailand or some tropical destination? Would be good to hear from you again to see how things are. Hope you and family are keeping well mate.

[Rusty]

If there are say 10 people lined up to buy a stock then is it first in first served? Also why is it that there are often sellers selling well below the bidders top bid?

[JBmurc]

If there are say 10 people lined up to buy a stock then is it first in first served? Also why is it that there are often sellers selling well below the bidders top bid?

same reason to be the first to sell at the matched bid-offer volume

SSNO good buying Rusty should well be able to get in today at 9c
SSN now has three projects that each be worth over 500mill USD
4 drill program underway

[Skol]

I'll buy later in the day.

I've got a book here that reckons "amateurs buy at the open, professionals buy at the close". Actually works most of the time as heat comes out of the market and punters lose interest.

[drillfix]

If there are say 10 people lined up to buy a stock then is it first in first served? Also why is it that there are often sellers selling well below the bidders top bid?

Rusty are you talking about when a stock is in Pre Market mode? As in at the end of day or just prior to open, or when news comes out etc ??

If so, have a read of this:

http://www.asx.com.au/products/calculate-open-close-prices.htm

Hope that helps.

[biology12]

deat cat bounce?

[Rusty]

That makes sence cheers drillfix. And yea sometimes I notice it during trading as well. Cheers JBmurc saw that announcement, looks good.

[drillfix]

deat cat bounce?

Why do you say that Bio? SPI200 and All Ords have steadily sat above +100 points since near beginning of the day.
So not sure what you mean there. Sure some stocks will rally and then profit takers kick in and sell it off again but still holding up many stocks.


Rusty, no worries mate. There are some folks whom only trade Opens and Closes whilst in this Pre or Auction Mode. Interesting stuff thats for sure.

[drillfix]

Anybody watching NAV.

Man up to 5c and high 4+c something up here JB? You were a Nav man so any ideas or just the pog?

[trackers]

If there are say 10 people lined up to buy a stock then is it first in first served? Also why is it that there are often sellers selling well below the bidders top bid?

In the first 10mins after opening and last 10mins after closing there are pre and post market auctions which determine the opening and closing prices, where you can 'skip the queue' if you know what you're doing. I won't try to explain it here but would pay to read up on it further:

http://www.asx.com.au/products/calculate-open-close-prices.htm

[drillfix]

http://www.asx.com.au/products/calculate-open-close-prices.htm

Is there an Echo in here? LOL :)

[trackers]

Oh lol! Didn't see that.... honest! :D

[drillfix]

Its okay guys, I'll read it twice :-)

Haahaa~! Nice one KW.


Trackers, its ok mate, but good minds surely think a like so good on ya bud :)

[JBmurc]

Yeah NAV getting the love of late higher POG likelyhood they will be able to get production going with target of higher grade ore etc would be paying the going
SP myself with a mass of shares to be taken up alot cheaper I see it got as high as 5.7c now back down at 4.7c day traders pump an dump

[biology12]

drillfix, just thought about it after reading in a previous post,

any chances this is a rally in a downward market?or is just that machine fault as mentioned earlyier with all the stop losses?

ang great gains today 17%,
also banks anz!!!

lgd!, get up son!
still got a bit more cash for the rest of the day, any ideas on how the market will close? that saying sell in the morning buy in the arvo is coming into mind?

if the us has a big rally again could we expect the same again tomorrow??


hope all the pros ripped up, drill i see the stocks u mentioned are in force, wish i got on zyl yesterday had an order in but was well short of the open.

cheers

[drillfix]

ZYL I had been hoping it would return to the 20's but not all stocks are in a hurry.

It seems as much as the market is up, there is a gradual return which should be expected as this is sensible. Or to test the water first.

With regards to a bounce, I myself would consider this a relief rally only until we have at least 2 consecutive higher highs & higher lows, so until then we are still in a down trend.

If global markets can remain green and provide this without any "more" bad news then of course we can expect more or further sensible rises.

Problem is though, is how much good news is there to feed the world, when compared to what potential bad news there is. Confidence globally is a huge task to restore and does not happen over night or few days or weeks, it takes a complete change in global markets to be moving in the same direction with real problems solved.

As I say, never become too complacent about what you buy, and how long you believe you wish to hold it for, as these days, we live in a world where the potato becomes extremely hot whilst holding it and it just may need to be dropped at any time, so finger on the pulse all the way.

Hope that makes sense..lol

[drillfix]

...up 12k......

Hey troy, well done for yesterday there mate.

Would you mind sharing with us, is that your overall portfolio up? or up on a trade? and if a trade, can you share with us which stock?

Again, good stuff.

[biology12]

drill, cheers for wisdom again, will keep a watch for tomorrow might have sum stop losses in to secure some gains for today,

skol if ur ther, u still waiting or u in yet in regards to that book?interesting to see if it will pay off.

im still watching a few but might hold till tomorrow, acb might push up hoping zyl will get to 16c then my buy will kick in.

any idea how the asian markets went?

[Skol]

Yeah, worked today, picked up some TOL at the days low so far.

[Huang Chung]

ZYL I had been hoping it would return to the 20's but not all stocks are in a hurry.



Looks like ZYL forgot to set the alarm clock and slept in...

[Huang Chung]

What's going on with Toll Skol....been on the slide for what seems like a couple of years now.

[Skol]

Lots of acquisitions, the recession and a bit of management infighting.

[percy]

Lots of acquisitions, the recession and a bit of management infighting.
I guess it was only a matter of time before they fought with themselves,as they have fought with everyone else.!!!1

[drillfix]

Looks like ZYL forgot to set the alarm clock and slept in...

Yeah well I thought I heard it go off for a moment but that must had been for some other stock...LOL

Actually not too bad, yet could have been much better.

It was like there were more folks emptying their position rather than accumulating, or there seemed to be more buying in other stocks also going on so it seemed so perhaps it may be a rotation buy at play here, who knows.


Sold off 3 other stocks I held for a small profit and will review how the US and EU markets play out tonight prior to thinking about tomorrows action.

Just hope this short rally (if thats what it was) continues for a bit longer.

[37degrees]

lots of red again from overnight, especially from Europe (is there something going on with a French bank?)
I haven't gone shopping yet, but if we retest some of those lows from Tuesday it could be tempting.
Bio - I think you'll be good for your 16c ZYL order today.

[drillfix]

Your not wrong 37d.

Dont really know if I like this game called "find the bottom" as it can keep going on until the concrete is found and set.


Bio - I think you'll be good for your 16c ZYL order today.

Maybe not today but for 16.5c I think he may just get it..lol

[biology12]

hey guys,
missed out!which sucks i c its bounced back to 18.5?

banks are ticking over again, slight loss from ang but heres hoping it will kick back up to high $4

who ever picked up acb today for 32.5 wil be bloody laughing.that companie is a solid stock,

kw, cfu seems all gd what caused the increase at the end of may?

think il b holding for a while, nothing i c other than zyl that takes my punt but too high! hit 16 c boyo

cheers

[biology12]

just looking at zyl again, 2-1 buyer seller.

does this normally mean things are heading up or just massive orders in play.

[37degrees]

Bio,

you still might get there on zyl.
I've had half an eye on it myself, I'm just too much of a coward.
buy/sell depth looking pretty even at the mo.
Dow had a big fade at the end of the day and I wouldn't be surprised to see the same here.
It takes a bigger pair than I have to hold overnight at the moment.

[biology12]

hey 37,
yeah mate massive risk, im shore drillfix will be shakeing his head if i get into over night.
heres hoping it drops. might have a lok at that all ords thread and c the go

lgd looks all gd at the mo, took a bunt today, however my metastock software conked so cant run ta.

cheers

[drillfix]

hey 37,
yeah mate massive risk, im shore drillfix will be shakeing his head if i get into over night.

lgd looks all gd at the mo, took a bunt today, however my metastock software conked so cant run ta.


Bio, dont worry about what I think mate, I'm not the buy/hold/sell police. :P


However, when it comes to charting, get yourself a Prorealtime free account with EOD data that will be very handy and it always works and has stacks of features on it that are extremely useful.

Plus, you can be anywhere for it to work when ever you need it. Although when I use it I need a minimum of 3 LCD's as it always remembers your settings so if you log in from a 1 LCD workstation it thows all your screens in to disarray.d :(

Anyway, check it out.


note;
I sold out of ZYL myself but will look to re-enter again at some stage of the game.

[troyvdh]

....acknowledging this is out of left field.......BHP was nigh on $50...in very recent times.....I bought in at $36...I often wonder if the investment horizons of folk who invest,,,,is so short sighted....that the share mkt is viewed as nothing more than a gamble.;.how sad is this....yet ...it is my belief that I could achieve more by speaking swalie

[winner69]

....acknowledging this is out of left field.......BHP was nigh on $50...in very recent times.....I bought in at $36...I often wonder if the investment horizons of folk who invest,,,,is so short sighted....that the share mkt is viewed as nothing more than a gamble.;.how sad is this....yet ...it is my belief that I could achieve more by speaking swalie

Agree with you there mate ... esp about investment horizons and to many a share is a gamble

Some core stocks like BHP are long term holds (or until China collapses anyway) .... like last time the world panicked I got some BHP at just over $25 .... and looking at the long term chart the dips look quite insignificant don't they - and $10 to today's price over the last 8 years plus dividends not too bad either

[Entrep]

I have taken a position in ADD at 2.3c. Given the recent director appointment and his subsequent (large) buying at much higher prices I am pretty happy.

[shasta]

I see RXL off the LOW EV list is back down to 2.9c after hitting 4c last week.

EV approx $6m (incl $4.4m cash + JV funding for flagship Zinc/Lead project by Teck, which is a decent size resource for a resource spec!)

Also has interesting Nickel & Gold & Phosphate projects

Certainly worth reading the June quarterly & company presentations

Big jump today to 4.3c & no ann - something in the wind tomorrow???

[biology12]

hey guys,

shasta nice pick off rxl, wish i got on that 26% jump today i c,

bit of regret, think i sold to early on ang, however took my money and got on mincor which took a good gain today and also pan,

got on them because 1) think they are a bit undervalued and 2) i am loving ther div yeild which should hopefull come in the end of sept,

sauce, if you read this could you please explain the buyback for mincor that 98c think you were talking about?

banks are still making ground,hope everyone is doing sweet from the bounce.

drillfix, hows the lookout?

[Huang Chung]

ZYL are still lagging in their bounceback.

[drillfix]

drillfix, hows the lookout?


Hi Bio,

Just realised you asked me a question in your post, so sorry for the late reply.

The outlook to me, is that I currently am keeping an eye on the Weekly XAO chart for a bit more medium term direction.

To me, currently as it stands we are at a point in time whereby the next couple of weeks will decided which overall direction we will be taking longer term. This is based on the current set of EMA's that I am using which currently 13 and 30 and below the 90 and 200 ema on the weekly.

The 90 just a while back crossed above the 200 which was good but then rode flat with it in parallel however it has now broken through (Just) which is why I say the next couple of weeks will be a better guide as one cannot use a crystal ball when all these EMA's are at a near convergence area as they usually cross back and forth etc etc until more is known.

In the meantime, the market to me is still a approach with caution type place as its easy to get your fingers busted when somebody slams the cookie jar on your hand so to speak...lol, but I think you get the idea.

Not much of an out look but that also seems to be the world at this precise moment in time as well. Meaning for the large part, we dont know exactly what is going to happen next.

[biology12]

hey drill,

thanks for the post, always great to get someones approach on the over all market,

cheers

[drillfix]

No worries Bio,

And sorry about the long winded blether, but I am not really the best with words.

If I were to add another spin on things, the market seems to be consolidating whilst in a trading range, and will more than likely do this prior to any move or commitment upwards, or downwards.

Which ever way, there seems to be a mixture of views or fundamentals on both sides of the spin so trying to comment on other peoples/insto's/analysts take is pretty much taboo because at the end of the day, the market will do what its going to do regardless of what anybody says....lol

Cheers again :)

[biology12]

HC, yeah i see zyl is at 19c not to bad so wish my order got traded at 16 but alas,

MCR is going gd since ive been in, pan not so much.

drill, heres hoping a big bull comes roaring down queen street tomorrow to chase that bear away and things pick up, ah nah they make better sense than some of the cases im reading.

bio

[whipit]

drill, heres hoping a big bull comes roaring down queen street tomorrow to chase that bear away and things pick up
bio

Looks like it could be a small bear cub running down the street tomorrow unfortunately

[STRAT]

Looks like it could be a small bear cub running down the street tomorrow unfortunatelyDunno.
Ive got a few cheeky buy orders. :D

[trackers]

Dunno.
Ive got a few cheeky buy orders. :D

Good strategy I think... I've got some lowball offers on a few stocks in prep for volatile swings downwards

[evilroyrule]

I'm about to put some in :-)

crikey. shld i be getting the venga bus out?

[Entrep]

Would've thought it obvious this is gonna retest recent lows? Why put any orders in now?

[Entrep]

From an article I was just reading


And if you want a potentially bullish template, go back to 1998 when the market had a violent move down, a V-shaped move up about half the way back, but then a violent retest that undercut the first low before it was off to the races. I don't predict that now, but I always find it relevant to analyze previous market cycles.

[drillfix]

Would've thought it obvious this is gonna retest recent lows? Why put any orders in now?

I really think it would depend on the stock Entrep.

Meaning, some stocks previously respected certain support lines on the last decline and I feel that many of those stocks should hold that approximation again, in which case a bounce of some kind would be expected.

Failing that bounce then a close stop lower to that entry point might be a good idea, imo, as this would obviously mean the trade went wrong.


Add/edit.

ps: Not saying that everybody should trade the bounces but if you do the more you know the stock you wish to trade, the better, as ones you dont know can usually bring either unknown results or outcomes for either good, bad or devastating.

[drillfix]

Come to think about it Entrep, I think you could very well be right about today.

Usually there will be a series of falls, as in potentially the next 2 or 3 sessions could very well be red as it had done in the last decline.

I guess it all comes down to risk and how well you know the stocks you wish to trade and also how quick you are.

For folks buying for the long hold, well, the so called Tea Leaves dont look to good so to speak.

[ELYOB]

Lot of currency volitility USA/JPY .... Gold over-rated , China reserves as a force neglected etc.,. Too many sector people think they have a hold on the current downer. In the end , the shine will come from somewhere . Just dont follow or listen to anyone as they dont know ! Stay safe for the time in question?

[STRAT]

I really think it would depend on the stock Entrep.

.And how cheeky the orders are. Mine are down right rood :lol:

No bites either :(

[STRAT]

Because in days with a lot of panic selling, some of the illiquid small caps get thrown out with the bathwater. Today might be the last big down day, you just dont know, so you just have to take your opportunities where you find them. Me, I'm topping up on high income stocks and low priced growth stocks. Now is as good a time as any to do that. Where else can I get a 10+% cash yield these days :-)

I have only one stock thats on a P/E of more than 9. I have stocks paying 12% dividends. This is where I begin buying.Mr P would be disappointed to hear you/us talkin like this. KW. Down trending Market n all but in my defence ( of the undefendable ) Im doin the opposite to you.:eek2:

Low ball offers on Shell plays and the like :eek2::eek2:

[Entrep]

I confess I have two low balls on some small caps - don't expect them to get hit though.

[STRAT]

At some point the true blue fundamentalists like myself have to step in to buy, or else the trend will never change -:)
.No doubt and good on ya for stepping up :D

[shasta]

At some point the true blue fundamentalists like myself have to step in to buy, or else the trend will never change -:)
However, as for trading specs, not game enough for that, will definitely wait until the trend is on my side before going there.
I have actually have a few shares in the green today, so overall my portfolio is basically unchanged as we speak. Hopefully this is the test of last weeks low, and we can move on from here.

Dead right KW, the fundamentals of companies dont change dramatically cos the DOW drops 500 points, when specs etc drop 20%+ in a 4% market drop it is more irrational selling than mere market sentiment, the LOW EV list has held up very well, sometimes lack of liquidity helps.

For high yield plays RCO & HHY still seem off the radar, RCO is the most boring & predictable stock, @ 40c its a 10% yield, & even at 42c, it continues to bounce between 40 - 42c , so theres a 5% scalp for those bored & who like shooting fish in a bucket.

Will update all the Negative/LOW EV threads tonight

[trackers]

Not much on offer today, only off a few cents here and there so definately no bargains. Guess that's a good sign though.

Yep noticed the same, didn't get any bargains - Figured you buggers were outbidding me, but it was just the shares I like shutting up shop liquidity-wise :D Agree that its a good sign, sanity prevails and people are holding instead of just freaking and letting go at-market

[evilroyrule]

Yep noticed the same, didn't get any bargains - Figured you buggers were outbidding me, but it was just the shares I like shutting up shop liquidity-wise :D Agree that its a good sign, sanity prevails and people are holding instead of just freaking and letting go at-market

tracks, seemed they freaked out last 30 mins or so. but the small caps holding up well. had some orders in well, nothing hit. will see what monday brings. i have noticed a real shift in what is bringing markets volatility - it seems the actual data isnt falling off the cliff, but the media spin put on it. maybe im naive, but it just feels like a big set up to me. i dont know. maybe thats what i want to believe. wish i had sme more money. wld be buying. still. ive become obsessed with watching the screen and need to get my life back. i think i might re shuffle (everday im shuffling) the portfolio a bit so i can just come back in 6 months and see what the carnage is. what a rant. over and out

[trackers]

^ I know what you mean, I saw articles today going on about markets crashing; what a load of rubbish. My personal take on it is that there will be quite a few pre-emptive right downs and bad news this quarter (might as well get it out of the way), then hopefully we'll see better data next quarter... who knows. Its no surprise mum and dad investors stay away, and I'd say there's been a net capital outflow over the last few months and that doesn't help (especially when the participants left like to play the smaller players like a fiddle)... But people will be back.

I'm losing interest in the whole thing as well, but things do turn on a dime and you can turn a crap year into an awesome one in a week or two...Just have to wait it out I guess.

great song, they crank it at the gym all the time :D

[evilroyrule]

saw something interesting of all places on the 'noos' last night. no doubt you had all figures this anyway.

but basically that the huge swings, hundred up, hundreds down mean the markets are being run on fear, and nothing realy at all to do with fundamentals or fact etc. makes you wonder in some ways doesnt just how much influence those big boys moght have.

although it then went on to say that the fear is the sudden realisation that we have been living beyond our means for decades, but this time there is no more o/d, there wont be an increasing of the overdraft. equally applies ona personal and it wld seem country level.

so what now? do we buy next week on dips hoping for a rally, or that the bottom is in. is it even safe to buy and hold, and when wld you buy? do we become traders? or do we just pull out and do something else?

probably worng thread and stream of consciousness stuff.

im going to build an ark. anyone coming?

[drillfix]

I confess I have two low balls on some small caps - don't expect them to get hit though.


I never posted on Friday regarding some of my Low ball bids, but one of them got hit in my Long Account.
Forgot that I had an order in on GLFOB and picked up a small parcel at 0.001c

Ahhhh well, never expected that, but that should be at least a 5 bagger in the next couple of months.

Add/edit
Rephrase, Opppsss, As of last price is has been a 5 baggger.
Take 2. I feel that GLFOB will be a 10 bagger to 1c within the next month or two.

[biology12]

hey guys,
took a small loss on mcr as it got a massive downgrade and i saw zyl was hovering at 17c so jumped on that and sold up.

heres hoping

[drillfix]

It looks like MCR is having a competition with BSL to see who can dive the lowest. 2 stocks with typical examples of term: down trend.

Some not good news floating around out there, that's for sure.


ZYL currently trading crushed between the 13EMA @ 18.5c + the 150EMA @ 15.5c

Not much room to move really BIO, although I will look forward to a break above the 13ema on the 60min chart.

[drillfix]

Noice!
(as they say here in Oz)

Oh yeah mayteee, Beaudy m8888 :P