Blood on the floor.

[Mick100]

quote:Originally posted by Packersoldkidney

There are some new players about who are forging 'reputations' now that will dog them, rightfully, for many years to come. Not to mention the 'old' corporate crims who seem to latch onto every new bubble that rumbles along, who everyone seems to forget about their past reputations when they wave the dollars in front of their eyes a la Forrest and Fortescue. It's a pity in some ways Diamond Joe has been put out to pasture: he would have raised 50 mill by now from Mums and Dads and used it as his personal trading 'buffer' a la 87. Left you gobsmacked with the audacity of it all.

I reckon in 18 months time there will be some new Sons of Gwalia carcasses lying around and a lot of people complaining about the resources bubble and how its put the stock market on the nose for decades to come. Then something else will come rumbling in and the money-wise will buy at the bottom and sell to the can-carriers at the top a couple of years later.

The more things change the more they stay the same.

I think your getting too pessimistic Packers
Volitility is part of the game with resources.
My stocks got hammered last year in may-june.
Looks like we are going to get the sme treatment this year.
I expect things to be looking good again in the second half of the year.

Mick

[Cooper]

Agree Halebop. That's why I like the idea of profit taking now and then waiting for a little of the dust to settle. Would rather be wrong with profits.

[whiteheron]

Hi folks

Some really interesting and important comments are being made

It will be interesting to look back in say 3 to 6 months to analyse what in fact transpires , but that will be with the knowledge of what money cant buy --- hindsight !!!

It gives me a little ( but only a little ) comfort to find myself in virtually the same position as a number of others

[Packersoldkidney]

I think quality will shine through, Mick. Got no doubt about that. Just reckon there are a lot of johnny-come-latelys who are going to get found out in the next year and a half. Fundamentals are looking great for resources - but that's always the case at the top of the market. When fundamentals are great you'll find every man and his dog wanting a piece of the action, regardless of whether they know what they are doing. Money attracts all sorts of bees to the honeypot, some of them more crooked than others.

[SimonSays]

Just keep your eyes on the Directors buy/sell disclosures and watch the crossings on the screen and you will know when real panic sets in. Clearly it is not now.

[soulman]

The commentary is that institutions are selling to balance off their March quarter books and hence, need to outperform the benchmark to received bonuses and a pat on the back for a job well done. Thursday would be the last day in March.

Then, with all the money lying around in the bank, they would need to invest back in quality stocks. Some funds need to be fully invested. I take it from the expert that this is just a healthy, however quite largish correction. BHP and RIO has been moving north from JAN this year and they dominate the index. The banks are due to report their half yearly.

I hope this a correction and not the end. I haven't been around other run like this but surely a correction like this should be follow by a recovery and then sideways movement. I don't mind sideways movement and gradual increase. There is also $30 billion to be re-invested in WMR/PMM/NFD T/O, capital returns and dividends. So cash is everywhere.

[k1w1]

quote:Originally posted by davidrob

Blood on the Floor my ars@#$e

Just a mere hiccup my dearie Worry Warts......

except for Uncle Andy Forrest (nice one eh what !@#@! !! [}]), most of the other stocks...IMO... are relatively cool [8D][8D]

Nothing like a good enema of a cleansing to put a "spring in your step".... I say []

Bet you he is dumping them like there is no tomorrow ....

[OneUp]

Perhaps we're just seeing the standard quarterly effect (shares are sold off at the end of the quarter, and bought back at the beginning)? More pronounced in January ("January effect") and July ("July effect"). But there is also an "April effect".

I am buying selected stocks today, but stocks that I am more than happy to hold through a major market correction if it comes.

I agree the June quarter tends to be a little weak, running into the Ozzie tax year.

[robbo]

ASX: All Ords still has only declined to where we were in January of THIS YEAR....after almost unremitting gains of nearly 47% in that period...

I'm totally COOL with this...just a bit of a "Cup and Handle" doody dah dah Profit Taking is completely understandeable; with what is going on chart wise....and fundamentally//value wise, with the secular Macro Economic forces with Supply and Demand Globally for commodities..India, China, Japan....and on the next tier Thailand, Vietnam, Indonesia, and some of the former Soviet states breaking out into one form of infant defiant democracy...and USA ready to rock & roll again......and the Asian jugganaut about to add 2.5--3 Billion folk to the Capitalist, religously pure Human urge for rampant materialism, and Coca Colas and cars.... and generally desiring more consumer goods; rather than living one's life immersed up to the waisst in a Paddy Field...

So going forward the next three-six months...this is definntely not the beginning of the end, but the end of the first beginning, being a scratch to mark the first scratch...and one always needs an enema aftter that surely ....[?][?]

So I'm still rock solid and up-beat, and the only stocks I'd dump now are only those dodgey stocks I maybe had ramped Kiwi1 into buying;.... on all those good 'ol previous times & wonderful occasions..thank's Kiwi1 [8D][8D]

Be steady, calm, and..IMO.... have a BEX everyone....

Kind Regards,[^]

Robbo [^][^]

[Packersoldkidney]

I've loaded up on Discovery, Legend, Barra, Herron and I'm looking at Reefton before close.

I once saw something that reminded me of a market correction. I was in a taxi queue about 70 metres long in Canberra about 3 in the morning. Everyone in the queue had their eyes on this young bloke sitting on the kerb with his head in his hands. He had obviously overgorged and eaten and drunk way too much - he body was slowly wobbling when he chundered a couple of huge spews right into the gutter under his feet. Everyone in the taxi queue went 'Awwwwwwwwww!!', and was still watching him to see if he was going to throw up anymore, when he just kept on looking at the technicolour yawn in the gutter in front of him. All of a sudden he reached down into the vomit and started to pick up what looked like olives out if it and began eating them. After all he'd just chucked up and needed a feed. This made everyone go 'Euwwwwww!' again.

On days like today when the market is crook and throws up, you've gotta be brave enough to reach into the vomit and start eating the olives.