Black Monday

[Joshuatree]

DOW, Nasdaq and S&P down re 3% ,vol not huge.

[Daytr]

Yep Couta1, if you are in good sound stocks with small or no debt and good cashflow etc, its not necessarily a bad thing to hold for the long term. But that does depend on how well valued they were at the time, i.e. PE etc. Not everyone is a trader in fact most people aren't and over time you generally make money by holding in the long term. There is nothing wrong with being a trader either and you can't argue that one is right and one is wrong as they are generally over much different time frames.

Oil smashed back down again around 7% eroding all yesterday's gains.
Equities smashed, everyone talking about China. I still think this is a massive mis-read or diversion.
Easy, blame China rather than something closer to home.
Speaking of close to home. The dairy auction overnight had another double digit bounce.
However Fonterra held back more product and only released 50% what they were a year ago.
This is a dangerous game. What happens to all the stock they are building up? They can't do that forever.
Memories of the butter mountain of the 1970s comes to mind.

[trader_jackson]

Fasten your seatbelts everyone...
(at least it was good to see milk price rebounding, but overseas markets not so good)

[Daytr]

That's easy when you hold 50% of the product back from the market. Only problem is, what do you do with the remaining 50%!
False optimism is what I would call it.
Can't make it all into Swiss Cheese ! haha

Fasten your seatbelts everyone...
(at least it was good to see milk price rebounding, but overseas markets not so good)

[noodles]

Don't forget I took a 100k loss in CNU while others held, I sold at $2.10 and then it went down to $1.30 ish, now what lesson did I learn there, simply if I had just held my shares for another 18months my 100k loss would have been a 30k profit as I could have sold when it got back to $3.16 ish. So while many may not agree with my approach there are many others that do, lets see how many of my stocks are still running paper losses in a few years time? that will be the proof of the pudding IMO.

I think the lesson from the CNU experience was that you lost control of the trade. As soon as the much anticipated pricing changes were announced, you should have sold. The events that unfolded with CNU meant that there was much uncertainly over the stock. Most expected that a capital raise would be required. If that had happened, the outcome would have been quite different.

Bottom line is that circumstances change with stocks and you need to act accordingly. If you can't interpret the events yourself, you should seek out a full service broker.

[twotic]

I think the lesson from the CNU experience was that you lost control of the trade. As soon as the much anticipated pricing changes were announced, you should have sold. The events that unfolded with CNU meant that there was much uncertainly over the stock. Most expected that a capital raise would be required. If that had happened, the outcome would have been quite different.

Bottom line is that circumstances change with stocks and you need to act accordingly. If you can't interpret the events yourself, you should seek out a full service broker.

Exactly! Couta, my memory may be hazy so correct me if I am wrong, but I recall you were in CNU as a trade simply to get the dividend. The fact that you held all the way down to $1.3 and lost 100k on a trade where presumably you were hoping to make a few thousand means you completely lost control of that one. The fact that it rebounded after you sold is irrelevant and my concern is that as a result you have appear to have convinced yourself of an entirely different lesson learnt.....one that is quite dangerous.

[nextbigthing]

That's easy when you hold 50% of the product back from the market. Only problem is, what do you do with the remaining 50%!
False optimism is what I would call it.
Can't make it all into Swiss Cheese ! haha

Release it onto the NZ domestic market so we can actually enjoy some 'fruits' of the labour, ie cheap dairy for NZ.

[Aaron]

Saw NCM took another SP hit today, doesn't seem to be getting the same traction as some of the other goldies JB. Any reason for that you know of? Need to update my research.

Not that I know anything but NCM keeps coming up as a sell in the "Bulls" 18 Share Tips. Haven't noticed if it is different firms though.
http://www.thebull.com.au/premium/a/...gust-2015.html
It has come up as a sell more than once.

[couta1]

Twotic i sold at $2.10 not $1.30 anyway the principle still stands that those holding long would have lost nothing.(I'm not going to rehash the whole sorry saga step by step again) PS-Remember also that the National Govt had strongly indicated that they would overide the ComCom if they cut the Copper price giving many of us reason to hold onto the stock that bit longer.

[Daytr]

Well that might get rid of 5% of it.
NZ is by far the biggest exporter of dairy in the world.
That's one of our issues, our domestic market is tiny in comparison.
And its not the farmers that are keeping the price of dairy products in NZ its the supermarkets.

QUOTE=nextbigthing;589432]Release it onto the NZ domestic market so we can actually enjoy some 'fruits' of the labour, ie cheap dairy for NZ.[/QUOTE]