# Correction best buys



## megla (28 February 2007)

Well, I'm excited and cashed up. But with so many variables about to occur, what stocks are going to be hit the hardest, that will rebound the best?


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## macca (28 February 2007)

IMO, Generally, the ones paying dividends tend to drop less and bounce first.


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## Halba (28 February 2007)

ZFX < $16 for the divvy?   

zinc stockpiles goin down


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## rico01 (28 February 2007)

Guys today is the day to buy puts for the inevitable slide in the market for the next few days/weeks?  
Cheers all


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## Realist (28 February 2007)

Is a 2 to 5% drop in price enough to inspire you to rush out and buy anything?


Imagine 3% off cars, today only get in quick...

 I wouldn't unless I was just about to buy a new car anyway..


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## spitrader1 (28 February 2007)

Realist said:
			
		

> Is a 2 to 5% drop in price enough to inspire you to rush out and buy anything?
> 
> 
> Imagine 3% off cars, today only get in quick...
> ...



<25.00 BHP


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## Halba (28 February 2007)

lol what has changed? i saw metals stockpiles goin down, stil the same cheapp resources!

china stockmarket up 12% 3 days before the correction, then down 9% in one day get a grip fellas!


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## megla (28 February 2007)

Ah yes, but buying a car with 3% off that will gain in value by maybe 10% in 12 months and give you some pocket change along the way... that would be a good buy


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## Realist (28 February 2007)

megla said:
			
		

> Ah yes, but buying a car with 3% off that will gain in value by maybe 10% in 12 months and give you some pocket change along the way... that would be a good buy




It's still only 3% off.

I wouldn't be jumping in to buy if I was not intending to buy in the first place.

The 'car' may go down 10% this year.


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## Sean K (28 February 2007)

Halba said:
			
		

> china stockmarket up 12% 3 days before the correction, then down 9% in one day get a grip fellas!



That does put it in some perspective. Thanks. Market psychology says that we will all think the sky is falling though.   There's money still to be made here.


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## Halba (28 February 2007)

yep for pete's sake everyone just calm down. chinese mkt was overvalued. interestingly all overseas mkts affected by chinese mkt. it is up 100% yep double since october 2006. Good the chinese govt intervened to cool off this mkt!

Bear in mind this has nothing to do with their demand for metals etc. Its business as usual.


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## spitrader1 (28 February 2007)

kennas said:
			
		

> That does put it in some perspective. Thanks. Market psychology says that we will all think the sky is falling though.   There's money still to be made here.



today is going to be loopy. play the benny hill theme all day long.


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## Sean K (28 February 2007)

spitrader1 said:
			
		

> today is going to be loopy. play the benny hill theme all day long.



 Classic. I often sing it to myself at my Army unit. The Army Reserves is just one big Benny Hill show...

Best buys after a correction perhaps:

Consumer staples
Banks
Alcohol and Tobacco (the unethical kennas)
Utilities
Healthcare
Insurance 

Or, put your money under the mattress.


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## djones (28 February 2007)

The NZ Market was down 3% on open.


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## Sean K (28 February 2007)

djones said:
			
		

> The NZ Market was down 3% on open.



We have to expect the same don't we. 

I hope ASF punters have been going conservative lately..


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## djones (28 February 2007)

kennas said:
			
		

> We have to expect the same don't we.
> 
> I hope ASF punters have been going conservative lately..




Hardest hit sectors: (remember NZ doesnt have much miners)

http://www.directbroking.co.nz/directtrade/dynamic/indices.aspx?e=NZSE


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## megla (28 February 2007)

Forestry Lesuire and Tourism??? Go figure!


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## CanOz (28 February 2007)

Halba said:
			
		

> Bear in mind this has nothing to do with their demand for metals etc. Its business as usual.




Tell that to the sellers in the gold market!


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## Halba (28 February 2007)

I'm screwed as are a few others i'm sure.


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## chops_a_must (28 February 2007)

I've done better than I expected here. But then again, I don't have any U stocks, and only one resource stock, mind you.

I managed to sell a few things at a big profit still, and right now I'm looking at gas and oilers. These prices haven't tanked so the stocks are at a massive discount to the market price of the commodities.

Edit: and also looking at biotechs at a massive discount. No demand from China for these...


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## mmmmining (28 February 2007)

Halba said:
			
		

> I'm screwed as are a few others i'm sure.



Get over it. You have to, if you want be a great investor/trader.

I have to admit today is the biggest one-day hit to my portfolio in my investment life. I feel very calm. Easy come easy go. We cannot timing the market perfectly. And the market drop is always out of sudden. As long as we believe our investment principle, we should win eventually.

Only thing I am not happy with is all my trading platforms are too busy and too slow.


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## nizar (28 February 2007)

megla said:
			
		

> Well, I'm excited and cashed up. But with so many variables about to occur, what stocks are going to be hit the hardest, that will rebound the best?




PDN.
ZFX.

Look how these have rebounded from previous corrections.
ZFX was $8 at the low, reached the high $13.50 in a couple of months. Then kept going up.

PDN i prefer not to talk about.


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## Caliente (28 February 2007)

yup grabbed a sweet parcel of PDN that i've been eyeing for some time this morning


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## Sean K (28 February 2007)

WOW is green!


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## chops_a_must (28 February 2007)

Bought some more NWE today. AED holding up well and NWE having done comparitively badly over the last week or so. Looks like the right call so far.


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