# Irrational exuberance



## Sean K (6 November 2006)

Market steady but many speccies going up 10-20% on open.   

Don parachutes fellow punters. 

Do *NOT * be caught without a chair. 

Good luck!


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## nizar (6 November 2006)

kennas said:
			
		

> Market steady but many speccies going up 10-20% on open.
> 
> Don parachutes fellow punters.
> 
> ...




kennas,

possibly 2day or 2mrw our markets will.
if we are going to have a correction anytime soon it would be this week after the US elections. Maybe a 3-digit blow-off move 2nite on the DOW and we follow 2mrw... but then??

if the market is still holding up well by thurs and friday then i reckon smooth sailing and it will blend nicely with the santa claus rally

tread carefully... i still remember how fast CBH and KZL fell in May... it scares me sometimes...


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## Rafa (6 November 2006)

i am flabberghasted with the performace of U stocks in the last two weeks.
This is completely out the blue...

I heard Ziggy is going to receommend favourably on a U reactor for Oz, or atleast talk about enrinchment and sale as a must for the U industry in Oz, but surely thats not what this is about...

I would have thought that labor scrapping the three mines policy has pretty much been a given for the last 6 months.



In any case, which of there stocks are at a stage of a postitive feasibility study stage or more...???

And why has MTN only gone up 20% or so, but the other gone up 50 - 100%...???    

And why did I sell DYL for high 20's!!!     

So many questions... 

I hold MTN, USA, EVE and BMN
Would like to own one more...


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## Sean K (6 November 2006)

Zinc and uranium have just gone silly. Make hay while the sun shines, but be very cautious about getting in after the horse has bolted. Just when that is , is very dificult to tell.    So hard to stay out of the market atm, but I still have memories of May/June. Ouch.


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## sleeper88 (6 November 2006)

hey kennas, you holding any zinc stocks atm or have you bailed out?


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## Rafa (6 November 2006)

Yeah, if you ever want some sobering up, think of May/June!

most of the stocks above, except USA, I got in pretty early, so hopefully shouldn't be seeing any red.

I sold ZFX, (its since gone up another dollar and a bit)... but still holding CBH.

If only every month was like the last one...


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## Sean K (6 November 2006)

sleeper88 said:
			
		

> hey kennas, you holding any zinc stocks atm or have you bailed out?




Just CBH. Again. Had to get in again. Originally bought at $0.39, sold at $0.48. Back in average $0.75


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## Sean K (6 November 2006)

ASX is going to be busy today handing out speeding tickets.


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## The Mint Man (6 November 2006)

kennas said:
			
		

> ASX is going to be busy today handing out speeding tickets.



whys that?

by the way whats your take on gold ATM? almost $629


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## Rafa (6 November 2006)

CBH is flying alright...
holding since 42 cents...
a nice tidy profit on this one.


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## Sean K (6 November 2006)

The Mint Man said:
			
		

> whys that?
> 
> by the way whats your take on gold ATM? almost $629




I have 4 or 5 things just on my watch list up over 10%. A couple 20%. On no news.   

If gold retests $620 and bounces, I will be more confident in thinking that it's in an uptrend. Or, if it just keeps going up   and breaks $640.


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## Sean K (6 November 2006)

EXT announces that they have an EPL granted next to their current one and the stock goes up 30%.    They don't even know if there is anything in it. They have no JORC on their current one. They have not proven they can or will be able to mine anything........

Jump on the rocket ships when you can people, but this is just insane!


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## CanOz (6 November 2006)

kennas said:
			
		

> ASX is going to be busy today handing out speeding tickets.




I see 12 stocks in the resources sector alone that are up 20% without any announcements.


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## moses (6 November 2006)

Whew, I thought I had missed something there. I read the report and went...hmmm, thrillsville, only to watch EXT's little cup of joy overflow!

Nice to see DYL up there too even if I did sell out at 29c. lets hope all uranium is about to be rerated 30-50%.


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## Rafa (6 November 2006)

DYL is still driving me nuts...

Why did I sell it???!!!


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## x2rider (6 November 2006)

Well what a day .
After a crap day at work, I come home to see my biggest ever one day gain ever. I am way stoked but still made sure to crank up the stop loss 
I could think of nothing worse than to come home tomorrow and it is all gone again 
How do you get away from the Ego trade? Are you better after a big day to just not buy for a few days or should you because there are opportunities still there?

Do you take money out of your trading acc. after a big day and place it 
"safely"  elsewhere or do you start to trade the bigger parcels ?

Just fishing for advice 
Cheers Martin


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## CanOz (6 November 2006)

x2rider said:
			
		

> Well what a day .
> After a crap day at work, I come home to see my biggest ever one day gain ever. I am way stoked but still made sure to crank up the stop loss
> I could think of nothing worse than to come home tomorrow and it is all gone again
> How do you get away from the Ego trade? Are you better after a big day to just not buy for a few days or should you because there are opportunities still there?
> ...




Just stick to the plan. If your worried about losing the profits, then like you said, raise up the stops.

An up day on the market shouldn't bother a trader that has his/her emotions in check (not that i'm one) anymore than a bad day provided all the stock are still trading according to the plan right?

All my stocks except for INL went up today, but not enough to get speeding tickets.

I'll be reviewing all of my stops soon though.


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## constable (6 November 2006)

sounds to me like you should take a day off , enjoy the fruits of your labour and locking the joy in for 24hrs until you stuff it up! 
No seriously, if im feeling a little mesemerised by my own ability i make a habit of waiting half an hour b4 i place my trade and more often than not i find that if im day trading that particular trade would have cost me or a better position comes up.


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## dhukka (6 November 2006)

Just to repeat advice you've probably heard a thousand times before Martin, don't get too emotional. Noone would blame you for feeling confident after making some good gains but keep a level head. I think you've shown that anyway by cranking up the stop losses. 

Just to address the opening post, Resource speccies aside I think the market is treading water until the RBA announce on Wed. Despite it being all but a forgone conclusion that they'll lift rates I think a lot of investors like to have that kind of stuff in the rear-vision mirror before diving in.


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## michael_selway (6 November 2006)

kennas said:
			
		

> Market steady but many speccies going up 10-20% on open.
> 
> Don parachutes fellow punters.
> 
> ...




Hey "Irrational exuberance" thats whay i said not too long ago!

 

thx

MS


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## mit (6 November 2006)

nizar said:
			
		

> kennas,
> 
> possibly 2day or 2mrw our markets will.
> if we are going to have a correction anytime soon it would be this week after the US elections. Maybe a 3-digit blow-off move 2nite on the DOW and we follow 2mrw... but then??
> ...




The money is currently on the democrats winning the mid term elections so that negative (in a market sense) has already been factored in. So I don't see much of a downside unless the Republicans retain the seats and the market would rise. A three digit blowoff would most likely be from more news that would indicate the fed would need to keep tightening. similarly in Australia, the next rate rise is already factored in. Profit announcements have been met with pretty positive reactions. I think that unless there is some particularly bad news our market is relatively benign in the short term.

Michael


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## Julia (6 November 2006)

mit said:
			
		

> The money is currently on the democrats winning the mid term elections so that negative (in a market sense) has already been factored in. So I don't see much of a downside unless the Republicans retain the seats and the market would rise. A three digit blowoff would most likely be from more news that would indicate the fed would need to keep tightening. similarly in Australia, the next rate rise is already factored in. Profit announcements have been met with pretty positive reactions. I think that unless there is some particularly bad news our market is relatively benign in the short term.
> 
> 
> 
> Michael



Hello Michael,

Why do you think the market would rise if the Republicans retain the seats?

Julia


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## 2020hindsight (6 November 2006)

CanOz said:
			
		

> ...An up day on the market shouldn't bother a trader that has his/her emotions in check .




...picked the wrong week to give up barbituates ...

Kennas you kept CBH ?- I sold CBH (and AGS) and kept KZL lol.
o boy - so many winners, what a party lol. :dance:

I'm a COMPLETE novice, but I just wanna get off the merry go round to catch my breath here - as they say - when people are in a panic - slow things down until order is regained - (even if it costs me a few bucks , and I have to get back in in a week or so at a small loss - strictly Zen all this - wouldnt know a graph if you drew me one).
Good luck all those with the courage to ride the buckjumper for the next few days.

PS That word "correction" - why is it that it's always so obvious AFTER the fact? - for my own point of view, I've had as much luck as an idiot novice is entitled to, and I'm going to take that breather.


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## Sean K (7 November 2006)

2020hindsight said:
			
		

> ...picked the wrong week to give up barbituates ...
> 
> Kennas you kept CBH ?- I sold CBH (and AGS) and kept KZL lol.
> o boy - so many winners, what a party lol. :dance:



Bought back into CBH and AGS. 

Should be another record close today. US up 100 pts, Oil up, Zinc up 4%!, uranium over $60, Gold holding above $620, takeovers everywhere....

Wouldn't be surprised to see a couple more 30% gains today, if not for The Cup.


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## 2020hindsight (7 November 2006)

http://www.news.com.au/heraldsun/story/0,21985,20537056-5008540,00.html

Here's another view. (Barefoot investor, SMH).   Not that I subscribe to this view btw.  Makes entertaining reading though.... (I sure as hell can relate, lol - to "Peter the Punter" that is  )



> "Peter the Punter (breathless in anticipation): "I want to buy $2000 in this little mining company right now. It's gone from 50 to $4 and a bloke I know reckons it's going to $8."
> 
> Barefoot: "Let me guess, Pete, the bloke who told you about this bought the stock at 50?"
> 
> ...




I'm not replying to anyone in particular, but, irrespective of that fact that  the CBH's and KZL's of this world don't qualify as the sort of shonky stock Peter's referring to, (and dont have gas lol) ,this barefoot bloke might have a point  - he can mimic me to a tee, lol.

PS Oct 7 - this article probably old hat to you blokes.  

PPS The OTHER way to look at it :- since this bloke has lost a potential FORTUNE if he wasn't on board Zn and U since 7 oct, then maybe Peter should be giving HIM advice lol.


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## nizar (7 November 2006)

> Fred Dickson, market strategist at DA Davidson, said investors were looking past the elections despite predictions that one or both chambers could shift to Democratic control, in a loss for President George W Bush's Republicans.
> 
> "The good news is that the expected closeness of the congressional election and its impact on leadership has been well known, thus we do not expect the overall reaction of the stock market to be big in either direction or extend long regardless of the outcome," Mr Dickson said.





http://www.theaustralian.news.com.au/story/0,20867,20715175-1702,00.html


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## Sean K (7 November 2006)

Another 4 stocks on my watch list, or in the portfolio, going up 10-20%. 

An *AWESOME* time to have conviction in short term trading, but once again, I emplore, have an exit policy and save your ****. 

Or, be totally out, and buy a bank!!

I am short term trading this bull atm, but I will NOT be caught with my pants down!


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## 2020hindsight (7 November 2006)

kennas said:
			
		

> An *AWESOME* time to have conviction in short term trading, but once again, I emplore, have an exit policy and save your ****.



m8 - I'm not being greedy - leaving a bit of profit on the table for the next guy who picks up the stock  good luk to you - (and me I guess on the timing of when I go back in)


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## GreatPig (7 November 2006)

My trading portfolio was actually down a little today, although the investment one was up nicely.

The one stock I managed to get a good daily hike out of yesterday - up 18% - lost about 14.5% of that again today  Can't complain I guess, but up another 20% would have been much nicer 

GP


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## 2020hindsight (7 November 2006)

GP - Thought you might like this little example of irrational exuberance ...

Sir Brian had a battleaxe with great big knobs on;
He went among the villagers and blipped them on the head.
On Wednesday and on Saturday, but mostly on the latter day,
He called at all the cottages, and this is what he said:

"I am Sir Brian!" (ting-ling)
"I am Sir Brian!" (rat-tat)
"I am Sir Brian, as bold as a lion -
Take that! - and that - and that!
 :viking: 
Now I'm not saying that Wednesdays and Saturdays have anything to do with this - and let's face it Zen is just another name for "mumbo-jumbo"  - for a start the ASX isnt even OPEN on Saturdays !!!  So CAN't be a message from the "great hunting spirit" - as Elma Fudd used to call Bugs Bunny  

Gee but this is life in the fast lane !   As my boys say - If you're not living on the edge, you're taking up too much space   Good luck all.   
PS that poem was hilarious.  Wish I 'd known of it when my kids were small   Such fun to read em that sorta stuff at bedtime lol.  But I digress yet agaain.  
_________
Anti ramping disclaimer.  I have no shares in battleaxes, nor helmets.  Anyone who takes my advice should seek professional help - I suggest Dr Gebutstag at the mental health clinic at Goodna.


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## Sean K (8 November 2006)

Looks to be a bit of profit taking amongst those stocks that have run pretty hard. Others are up. Punters just switching from one to the other after the excitement peaks. 

Need to be getting in early and out before greed becomes not good.


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## constable (8 November 2006)

dont you just love it when you find stock that you didnt know you had!
monday i'd bought 300000 aex @ 37 sold them following morning at 38 but only placed sell order for 250k. Found the other 50k 5minutes ago and had no hesitation flogging them at @ 45 . nothing like finding 400 bucks


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## Sean K (9 November 2006)

Looks like a little heat has come off things today? Quietened down a bit. 

Or is just the stocks I am watching.


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## Julia (9 November 2006)

kennas said:
			
		

> Looks like a little heat has come off things today? Quietened down a bit.
> 
> Or is just the stocks I am watching.




"Quietened down a bit" would be an understatement for my portfolio.
Down large amounts on almost everything.

Julia


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## Sean K (9 November 2006)

Julia said:
			
		

> "Quietened down a bit" would be an understatement for my portfolio.
> Down large amounts on almost everything.
> 
> Julia



Yeah, lots of little red arrows laughing at me. Damn it! Haven't had to look at that for a while.   Glad I've been taking profits recently. I'd be on bread and water tonight if I held what I did a month ago.


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## marklar (9 November 2006)

My portfolio usually moves rather opposite to the all ords (wierd), but today everything is down except ARR.

m.


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## Sean K (9 November 2006)

marklar said:
			
		

> My portfolio usually moves rather opposite to the all ords (wierd), but today everything is down except ARR.
> 
> m.



My only thing going up in PSV which is UNHEARD OF. It normally just goes red no matter what the markets doing.   

Perhaps we are just in the eye of the storm and things wll be going up 30+ % again in a day or so.


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## GreatPig (9 November 2006)

Just about everything in my watchlist is red, but I'm only down a very small amount today compared to yesterday - almost nothing in my trading portfolio.

GP


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## Kauri (9 November 2006)

Dare I say it.......,  but its not too bad a day when your _shorts_ are down too..


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## marklar (9 November 2006)

Finished up today OK, a tickle in front from this time yesterday.  LPT's down, everything else roughly unchanged or up a notch.

m.


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## YOUNG_TRADER (9 November 2006)

Irrational exuberance everywhere, not just on the mkts,

My girlfriend wanted to go to U2 concert coming up, said she found some excellent level 1 row B tickets that are in the section adjacent to the stage, so pretty much the best seated tickets you could find on EBAY, they cost the seller $400, she happily just told me that 'we' just won at $850, hmm interesting 'we won', lol but I'll be paying, 

:headshake Sighh she paid over 2x as much for the same asset very poor trading if you ask me   :


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## Rafa (9 November 2006)

you better get back on the share market and make some more cash then!


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## chops_a_must (9 November 2006)

Why anyone would want to go and see U2 in the first place is beyond me.


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## Sean K (9 November 2006)

chops_a_must said:
			
		

> Why anyone would want to go and see U2 in the first place is beyond me.




One of the first concerts I saw was U2's Rattle and Hum tour in 1983 I think, at the Entertainment Centre. I think tickets cost $20. Was awesome.


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## chops_a_must (9 November 2006)

But they were actually good then.

And not just making money off Stiff Little Fingers at that stage.


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## Kipp (9 November 2006)

YOUNG_TRADER said:
			
		

> Irrational exuberance everywhere, not just on the mkts,
> 
> My girlfriend wanted to go to U2 concert coming up, said she found some excellent level 1 row B tickets that are in the section adjacent to the stage, so pretty much the best seated tickets you could find on EBAY, they cost the seller $400, she happily just told me that 'we' just won at $850, hmm interesting 'we won', lol but I'll be paying,
> 
> :headshake Sighh she paid over 2x as much for the same asset very poor trading if you ask me   :



Shouldn't of bragged to her about EVE then YT... lest she wins you both a Gucci Handbag!!  lol


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## Sean K (27 November 2006)

Lots of crazy stuff going out there punters. 10-20% + gains are not normal. While it's an opportunity to make some short term beer money, geting in at the top can be disasterous. Good luck!


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## Freeballinginawetsuit (27 November 2006)

Well most of the Nicklers are nudging highs, PDN at its high and the Zincers aren't far off.

Not bad returns since the pullback, its only been a week and a bit!.  .

I wouldn't exactly call it crazy though, pedictable perhaps!, are you talking about the speculative stocks Kennas?. Do you expect the good midcaps to reach highs in the next couple of weeks?, or are you waiting like Nizar to enter these stocks on highs  .


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## CanOz (27 November 2006)

kennas said:
			
		

> Lots of crazy stuff going out there punters. 10-20% + gains are not normal. While it's an opportunity to make some short term beer money, geting in at the top can be disasterous. Good luck!




Hmmm, irrational....the XMJ is only 265 points above where it bounced off support last week, theres lots of cash being sprayed about and i think it might continue up to Christmas now Kennas. Once we hit the highs that we say on the XMJ back on the 7th of November i'll start to get a bit jittery.

Cheers,


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## Sean K (27 November 2006)

I guess my point is people are jumping on just about any stock that has a slice of yellow cake or a chip of zinc and expecting it to go balistic. When a company goes down 2% all of a sudden it's game over. 

There are some companies out there with fantastic potential but some are no where near making money and have market caps of $300m + with the potential never to mine.   AGS and SMM come to mind. (I own both by the way) 

One bad regulatory announcement (like Labor saying they will not change their no new mines policy next year, and these companys will potentially halve overnight. I'm counting on that not happening, but geesh, you'd think the stockmarket was a money tree at the moment. 

(disclaimer: happy to be picking the low hanging fruit while it's still there   )


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## chops_a_must (27 November 2006)

I'd expect the Liberals to allow more licenses for uranium mines next year, and jamming the Labor party into a position where they can't reverse it.


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## Sean K (27 November 2006)

chops_a_must said:
			
		

> I'd expect the Liberals to allow more licenses for uranium mines next year, and jamming the Labor party into a position where they can't reverse it.



Chops, Libs can only do this on Federal land. ie, NT, Canberra, Nowra, Christmas Island etc. States control the right to mine. They are all Labor - No new mine policy.


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## chops_a_must (27 November 2006)

Yeah, the NT looks the goer. And if Mitsubishi looks to close, then SA may be under pressure to allow it. They have been flirting with it anyway.

But yes, I agree. Buying into Uranium stocks that have reserves anywhere other than the NT or to a lesser extent SA is just stupid. By the way I don't hold any uranium stocks.


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## nizar (27 November 2006)

chops_a_must said:
			
		

> Yeah, the NT looks the goer. And if Mitsubishi looks to close, then SA may be under pressure to allow it. They have been flirting with it anyway.
> 
> But yes, I agree. Buying into Uranium stocks that have reserves anywhere other than the NT or to a lesser extent SA is just stupid. By the way I don't hold any uranium stocks.




EME.
High grade deposit in NT.
<80million market cap.


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## Freeballinginawetsuit (27 November 2006)

Yep, PDN is in with all the good ones.  , makes your choices easy!.

Spread on the boards reminds me of BNM and EVE in the early days, untradeable depth and all over the place with no chance of a realistic stop.Low volumes as well!

They will probably have to do a share split like BMN so their are more on issue and their more tradeable.

But then again, low shares on issue means they can run on low volume, just gotta time youre exit!, because they can tank just as easily , with no chance of a decent percentage stop!.


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## michael_selway (27 November 2006)

kennas said:
			
		

> I guess my point is people are jumping on just about any stock that has a slice of yellow cake or a chip of zinc and expecting it to go balistic. When a company goes down 2% all of a sudden it's game over.
> 
> There are some companies out there with fantastic potential but some are no where near making money and have market caps of $300m + with the potential never to mine.   AGS and SMM come to mind. (I own both by the way)
> 
> ...




omg AGS!

thx

MS


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## Sean K (22 January 2007)

Beacon Minerals just ann that they have identified some radiometric anomolies on one of their tennaments...goes up 50%.....it's an airborne radiometric test by the look of it. No drilling yet. No confirmed uranium. No grades. No idea how thick it is. Oh, but it could be calcrete hosted uranium, like Yirralle, or Lake Maitland. 

Oh, by the way, The Barlee Project was initially undertaken as a gold exploration project.....

Is this all real??

OK, OK, it's day traders playing with this maybe, but come on!


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## dhukka (22 January 2007)

kennas said:
			
		

> Beacon Minerals just ann that they have identified some radiometric anomolies on one of their tennaments...goes up 50%.....it's an airborne radiometric test by the look of it. No drilling yet. No confirmed uranium. No grades. No idea how thick it is. Oh, but it could be calcrete hosted uranium, like Yirralle, or Lake Maitland.
> 
> Oh, by the way, The Barlee Project was initially undertaken as a gold exploration project.....
> 
> ...




Agreed it really has to make you wonder. If this it what sets off a 50% price increase surely that's an indication of the state of health of the market.


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## Sean K (22 January 2007)

dhukka said:
			
		

> Agreed it really has to make you wonder. If this it what sets off a 50% price increase surely that's an indication of the state of health of the market.



WMT up 15% on grab samples!?


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## Sean K (22 January 2007)

I took the opportunity to skim a few profits across the board today. 

The main reason behind this was that on the weekend I had my hair cut and the barber told me I should buy some AGM shares. He didn't know the full name of the company (I had to tell him that) and he didn't know it mined Nickel in Tasmania.

That was my cue to start locking in a few $$.

Also, I must say, I'm going to Mexico backpacking for 3 weeks leaving Thursday, so this was as good a opportunity as ever.

All the best! Hopefully the market is another 100 points up when I get back! And my barber's hot tip was good!


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## theasxgorilla (22 January 2007)

kennas said:
			
		

> The main reason behind this was that on the weekend I had my hair cut and the barber told me I should buy some AGM shares. He didn't know the full name of the company (I had to tell him that) and he didn't know it mined Nickel in Tasmania.
> 
> That was my cue to start locking in a few $$.




ROTFLMAO!  Classic.

Enjoy your trip Kennas


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## constable (22 January 2007)

kennas said:
			
		

> I took the opportunity to skim a few profits across the board today.
> 
> The main reason behind this was that on the weekend I had my hair cut and the barber told me I should buy some AGM shares. He didn't know the full name of the company (I had to tell him that) and he didn't know it mined Nickel in Tasmania.
> 
> ...



I wonder if your barber has a financial advice disclaimer on his open sign ?
Hehe maybe we could sue if him if he gets it wrong !!
What i was really thinking tho was having a trading screen while you were getting your haircut. Now im sure there is a market for this......On Market Hairdressing...we'll cut your locks while u trade your stocks!!  .


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## Rob_ee (23 August 2007)

*Irrational exuberance?*

Talk about irrational exuberance ... (I heard that somewhere)

Our market up 165 points .. which is more than the DOW last night and we are less than 1/2 their size

I am glad that I have been trading for some 6 odd months only.
I have no idea what is going on so can put my confusion down to lack of experience .... what subprime problems ?????

Rob


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## caleb2003 (23 August 2007)

*Re: Irrational exuberance?*

Wouldn't BHP have something to do with it also?


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## son of baglimit (23 August 2007)

*Re: Irrational exuberance?*

the drop here was bigger, the majors are reporting well, bhp & co reporting bright future, so they all return in droves.

simple.


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## nioka (23 August 2007)

*Re: Irrational exuberance?*

It is better to be an irrational exuberant bull than a wimpy timid bear any day. Win or lose.


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## Gundini (23 August 2007)

*Re: Irrational exuberance?*

Yes, and what happened to the Bear?

Is he back in the cave, or peering from behind the trees, waiting to pounce?

I think the later... Waiting for another Mortgage Lender to fall over in the States. Shouldn't be long now...


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## ADoyle (23 August 2007)

*Re: Irrational exuberance?*



Gundini said:


> Yes, and what happened to the Bear?
> 
> Is he back in the cave, or peering from behind the trees, waiting to pounce?
> 
> I think the later... Waiting for another Mortgage Lender to fall over in the States. Shouldn't be long now...




As suggested elsewhere I think the market has now gotten comfortable with this concept and won't even blink unless a major bank or institution hits the deck


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## Sean K (12 October 2007)

Time to open this one up again...

The iron arena is starting to trouble me specifically.

Rock chip samples creating 300% gains.....

hmmmmmmmm


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## prawn_86 (12 October 2007)

it seems to me that everyone is still a little wary of the spec end, and hence when one co moves up, even on suspect news, everyone else jumps on board as they feel they have better chances going with the flock than risking it in specs that are going sideways.

although i dont have much macro knowledge so thats just my


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## surfingman (12 October 2007)

kennas said:


> Time to open this one up again...
> 
> The iron arena is starting to trouble me specifically.
> 
> ...




Kennas,

That was my first 3 bagger , but yes agreed very irrational and the shares are holding the gain better than expected which is even more troubling. Is the market wrong?

Are people are overreacting to the expected increase in the iron price?
http://www.bloomberg.com/apps/news?pid=20601086&sid=at6HO2S6zZck&refer=news

I'm not sure, but looking for the next runner is very entertaining.


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## Sean K (12 October 2007)

surfingman said:


> Kennas,
> 
> That was my first 3 bagger , but yes agreed very irrational and the shares are holding the gain better than expected which is even more troubling. Is the market wrong?
> 
> ...



Strike while the iron's hot  , but be prepared for the sharp correction that follows this type of hype. The run could go on for a while, but the signs are just starting to eventuate....

I am overall bamboozled with the past 2 months action after the surfacing of the Sub Prime/Credit Cruch troubles telegraphed by the bears so fluidly.....perhaps the paradigm is shifting...

Make hay while the sun shines, but be prepared.....


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## Uncle Festivus (12 October 2007)

Even the Maestro himself, who presided over the Irrational Exhuberance phase and created the latest one, has upped his recession odds to nearly even money. 
It is indeed The Age of Turbulence, of the big swings and dips. Are we close to a breather? I don't think October will disappoint.


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## YOUNG_TRADER (12 October 2007)

Well I guess we can add MDX tot he list of Iron Ore bandwagon jumpers that is experiencing Iraational Exuberance

Up 100% from yesterday on the back of errrr.....


p.s. Serentiy Now! Eh Uncle Festivus?


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## BIG BWACULL (12 October 2007)

YOUNG_TRADER said:


> Well I guess we can add MDX tot he list of Iron Ore bandwagon jumpers that is experiencing Iraational Exuberance
> 
> Up 100% from yesterday on the back of errrr.....
> 
> ...



But surely if they rounded up a few keen workers and some barrows and collected all the rock chips 
that would = BIG$$$$$$ lol


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## YOUNG_TRADER (12 October 2007)

BIG BWACULL said:


> But surely if they rounded up a few keen workers and some barrows and collected all the rock chips
> that would = BIG$$$$$$ lol




lol, maybe if the metal chips off their shovels and picks as their digging, then when they do the assays there sure to find Iron in the samples :


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## YOUNG_TRADER (16 October 2007)

No Comment needed!


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## Sean K (25 October 2007)

How could facebook possibly be worth $15b 

Does it actually make any money?

pe's gotta be out of the stratosphere. Shades of the tech wreck?



> *Microsoft Pays $240 Million for Stake in Facebook (Update1)*
> 
> By Dina Bass and Amy Thomson
> 
> ...


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## nizar (25 October 2007)

kennas said:


> How could facebook possibly be worth $15b
> 
> Does it actually make any money?
> 
> pe's gotta be out of the stratosphere. Shades of the tech wreck?




LOL i was thinking the same thing.

I also thought, why the ^&#$ didnt I think of that? lol


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