$5000 to $50000 in two years - let the odyssey begin

[Agentm]

swap trade is easy


you swap share for cash then you buy a share and swap cash for share


easy.. thats a swap trade

 

[nioka]

Now I'll try and repeat the result. I have invested $5,000 in BUL at 16c. I'll keep you informed along the way. I may leave it as a single investment with no trading. I may trade in and out. I may find a comparable share and do swap trades. I will post any trades.

Update. I haven't found a suitable stock for doing swap trades but I have traded with a 1c margin twice. The holding is now 34083 but the price has fallen. The value is now $5112.45. Not exactly on track for $50,000 but there is time yet for BUL to do something dramatic.

 

[nioka]

Why get your knickers in a knot!?

Just SHOW PROOF and it all goes away, its really not that hard. But you would rather sit here and have a cry because people don't believe you. One way to shut them up isn't there. FFS

Reference Type Detail Debit ($) Credit ($)

2/07/2010 C12715074 Contract S 1000000 ADI @ 0.420000 419,370.02 -

Balance of holding sold today. That is all the proof you are going to get.

Next up BUL in two years. See you there.

 

[A.Cashin]

Good Luck!

 

[nioka]

Update. I haven't found a suitable stock for doing swap trades but I have traded with a 1c margin twice. The holding is now 34083 but the price has fallen. The value is now $5112.45. Not exactly on track for $50,000 but there is time yet for BUL to do something dramatic.

Update. Sold and bought BUL again

C12739491 Contract S 29900 BUL @ 0.160000 4,754.05 3,975.90
C12708734 Contract B 35000 BUL @ 0.135000 4,754.95 4,754.95

Another 5,100 "freebies" on the trades. Now holding 39183 @ 16c last price. $6962.28. (slowly, slowly catchee monkey). Will place buy order for 14c and sell order at 18c.

 

[newbie trader]

Update. Sold and bought BUL again

C12739491 Contract S 29900 BUL @ 0.160000 4,754.05 3,975.90
C12708734 Contract B 35000 BUL @ 0.135000 4,754.95 4,754.95

Another 5,100 "freebies" on the trades. Now holding 39183 @ 16c last price. $6962.28. (slowly, slowly catchee monkey). Will place buy order for 14c and sell order at 18c.

Congratz. Any chance you can outline the reasons why you chose to invest in BUL?

 

[nioka]

Congratz. Any chance you can outline the reasons why you chose to invest in BUL?

The first reason was based on fundamentals, I think it has a good chance of being a successful company. The second was based on the fact that I did very well with another company developing coal seam gas. Then it was a relatively cheap share that in the past has had some volatility that allows fairly good short term trading opportunities and regular volume of shares traded. BUL is also a share that I am prepared to hold long term.

Like compounding interest, being able to make small gains that can be compounded means that I could soon be making trades of 50,000 units followed shortly after with trades of 100,000 units and that is where the fun begins in earnest.

However the risk is that if one is "out" when there is a sudden surge in price then it can wreck the scheme or set it back somewhat.

With all investments there is some risk and the greater the posssible gain then the greater the risk.

 

[nioka]

Update;

Not doing too good here and the 7.30 report on the protests by farmers regarding polution from CSG production will not help in the short term.

The 34083 shares held are now worth $4260.

Guess that will make my critics happy so there is always something good in something bad. All is not lost at 12.5c I still think they are a good buy so I will continue to hold without concern.

 

[nioka]

Update;

Not doing too good here and the 7.30 report on the protests by farmers regarding polution from CSG production will not help in the short term.

The 34083 shares held are now worth $4260.

Guess that will make my critics happy so there is always something good in something bad. All is not lost at 12.5c I still think they are a good buy so I will continue to hold without concern.

Ended the day worth $4772. So not as bad as it was at open today. Next week is a new beginning. Still happy to hold BUL.

The reason BUL had a move up today was the release of the drilling results as under;

"The Kerlong 1 well which spudded on 19 July 2010 has been drilled to a total depth of 914 metres, logged and in the process of being suspended. On completion of these activities the rig will be released. The well encountered approximately 20 meters of net coal with early stage gas desorption indicating raw gas content in the order of 12 15m3/tonne. The well is designed to evaluate the Rangal Coal Measures at a location approximately 5 kilometres north of the producing Annandale CSG field (operated by Arrow Energy). The well is approximately 25 kilometres east of Moranbah."

 

[nioka]

In doing my last calculations I used the wrong number of shares. On checking my actual holding the number should have been 39183. Based on closing price today at 14.5c the value is $5681.50. At least I'm ahead by over 10% but still a long way to go. I will place a sell order in for the total amount. The news regarding Australias looming fuel shortage on tonights ABC mentions CSG as one of the ways out so it may give a boost to the BUL SP. I will try and trade to increase the numbers.

 

[weatherbill]

I think the best bet on this is to go with put options on the ASX (XJO)

Simply wait for the second day of a run up and buy your puts before noon and then wait for the next day down, sell for a profit..... its a great market pattern to wait on developing and happens usually at least once a week. And if there's really bad news, you bank all the more, but never try this with calls.

Calls always suck to me in this environment - makes bad news sound good.

also, be a little stubborn and get below the ask or even at the bid - have had good luck with that on the ASX -

one exception, if the exp date is getting pretty close, leave em alone, dont buy puts within 3-4 days of exp date
5k to 50k is not hard at all with put options. could have cashed in today and made 7 grand in a week, but I think the market goes down some more.

 

[nioka]

I think the best bet on this is to go with put options on the ASX (XJO)

Simply wait for the second day of a run up and buy your puts before noon and then wait for the next day down, sell for a profit..... its a great market pattern to wait on developing and happens usually at least once a week. And if there's really bad news, you bank all the more, but never try this with calls.

Calls always suck to me in this environment - makes bad news sound good.

also, be a little stubborn and get below the ask or even at the bid - have had good luck with that on the ASX -

one exception, if the exp date is getting pretty close, leave em alone, dont buy puts within 3-4 days of exp date
5k to 50k is not hard at all with put options. could have cashed in today and made 7 grand in a week, but I think the market goes down some more.

Like to put your money up?. Post your trades and see if you can make it.

 

[J&M]

In doing my last calculations I used the wrong number of shares. On checking my actual holding the number should have been 39183. Based on closing price today at 14.5c the value is $5681.50. At least I'm ahead by over 10% but still a long way to go. I will place a sell order in for the total amount. The news regarding Australia's looming fuel shortage on tonights ABC mentions CSG as one of the ways out so it may give a boost to the BUL SP. I will try and trade to increase the numbers.

Hello Nioka
I am in BUL 22500 @ 13.5 $3027.50 I may buy more
I am not asking you to tell me what or when to buy or sell
I noted that you are placing a sell at 18c
how did you determin the 18c to sell
it seems to be holding at the 12c to 14c level

Should this be in the BUL page ???

James

 

[nioka]

I noted that you are placing a sell at 18c
how did you determin the 18c to sell James

While this stock is at a low price I am going to try to trade for a few freebies. 18c is well above my buy price so if it gets there in the near future it will most likely be a high for the day. If it sells I will try and buy more at a lower price that same day. Most times these tactics work for me, sometimes it backfires as it did with my EKA trades a little time ago. If that happens I'll buy back again, probably with less numbers.

A good news release will possibly trigger the 18c level.

 

[eyeballkid88]

Interesting stuff...

 

[Jako]

nioka,

no updates for quite a while.

I have enjoyed reading your posts on this thread.

Are you still around ??

cheers

 

[nioka]

nioka,

no updates for quite a while.

I have enjoyed reading your posts on this thread.

Are you still around ??

cheers

Nothing good to report here. BUL was a long termer and I can see no reason to change horses at this stage. There is still every chance that this one will do the job. Coal seam gas in queensland is a hot political potato and could be sidelined until after the next state election. In the meantime the test drilling is going ahead and a test production well is being prepared. I'm at about break even but the 10 bagger has not appeared. I still have hopes and time is still on my side.

 

[nioka]

Update or rather I should say downdate. Nothing good has been happening here with the SP at least. The coal seam gas business has been getting bad press and that has not helped. Value now $4114.

Where to from here?;

The fundamentals are still sound. The partners, Stanwell and Kogas are still "in". The company is making progress with establishing a resource. Nothing has really changed. So why sell. After all it was a two year program.

If you want a ten bagger there has to be some risk but, in my opinion the risk is still acceptable.

Items like the article in the link below give one some hope that BUL can still come up with the goods;

http://www.hyperionfinancial.com/tei/tei-intro.htm.

So I'll hang on in there. I actually think it is a good buy at the price. Maybe I'll trade the swings

 

[TabJockey]

5000 to 50000 in two years?

Buy a handful of small promising miners. Very little diversification. Forget about your portfolio. Come back in 2 years. Withdraw 50k/cry over your lost 5k

 

[ParleVouFrancois]

TabJockey might I suggest that Mr Nioka didn't want to leave it to what you just have. He's actually trying to make 50k from 5k in two years. Such a crazy man, but he made so much in ADI from swap trading... I dunno, if anyone could do it Nioka can imo .