AMP - AMP Limited
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Well...that's what i 'believed'. But if it doesn't hold $9 (today's closing simply reveals that), then as Garpal stated...couldn't imagine where the next support would be. AMP used to be suitable for safe CFD player, but 3% drop in a day has become common lately.
Garpal Gumnut
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The following chart is posted not to add to your pain but to ponder where the large money has been over the last month or so.
As a general rule I have noted that it is worthwhile buying AMP when the brokers advise to sell and selling when they advise to buy.
This chart shows that since mid December 2007 most large movements have been out of AMP.
The minor uptrend over Christmas was on pitiful volume. Today approx $120million worth of AMP was traded and $9 was breached. Large instos may have been buoying the price up over Christmas and NY before offloading it in the past week or so.
So price goes down on increasing volume and up on decreasing volume = price
likely to continue down.
I cannot predict, wish I could , but refer to my previous post above to see support areas.
gg
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For the record I was agreeing with your sentiments. I looked at AMP and it was static until 3PM at which time I purchased at $9.00. Who in their right might would have predicted that the price would start falling like it did.
Unfortunately if I had my time again I would probably still have purchased when I did. I'm not sure what it says for my picks that my portfolio consisted of two of the best and two of the worst performers of the day.
SDL, AMP & AWC (Worst)
HGI & PDN (Best)
At least I finished the day up.
The insurance industry is doing it tough. AMP hasn't moved much from $10 for a year, so below $9 it is not looking like a stock that is going anywhere in the med - long term. It may see some more down side in first half of 08.
Depends why you hold them! AMP has been a good source of dividends and capital returns for me, if you are after sp growth then maybe not
cheers laurie
Lot of volume on AMP today anyone know what's up? double the average volume of around 9-10M shares last couple of weeks..the last time the volume hit this big is in Feb 14.
On Feb 14 it was a seller market..this time it's a buyer market
Tempted to let go and get a nice profit but I'm holding cos I like my AMP dividend and there are no better stock to put my money into.
On Feb 14 it was a seller market..this time it's a buyer market
Tempted to let go and get a nice profit
but I'm holding cos I like my AMP dividend and there are no better stock to put my money into.Lot of volume on AMP today anyone know what's up? double the average volume of around 9-10M shares last couple of weeks..the last time the volume hit this big is in Feb 14.
On Feb 14 it was a seller market..this time it's a buyer market
Tempted to let go and get a nice profit
Its been mentioned before that it might be because of options expiry day. Lots of other shares have increased volume today too.
http://www.asx.com.au/investor/pdf/2008.pdf
Sean K
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Yep, options expiry.
So, what's the go with AMP? What exposure do they have to bad credit? Major investments in anything that's gone pear shaped.
I haven't seen any, so is it's fall just a confidence in the industry thing? Sentiment? Surely if their only exposure is to the general market downturn they will be worth looking at when a potential bottom is found in the market?
Been stated in the financial pages on numerous ocassions that they would be a good fit with NAB. Any thoughts on that?
I originally got a few of these in the float due to a couple of life insurance policies and managed to sell out around $20. Fhew!
Not really trending back up yet.
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I would not think AMP has any exposure at all to subprime.....AMP is practically a retailer of investment products so its price has fallen at a time that the value of investment products (eg. shares) have fallen also.....
Their key metric would be Funds under management, which literally depreciates when stocks depreciate.......add to that all the bellhops getting nervous cause stocks are going down, which of course means 'you should not invest in stocks cause they are risky'.
I'm a fan of this sector in the longer haul however as the sector has 'legislated' growth and incredibly good 'economics'...
Their key metric would be Funds under management, which literally depreciates when stocks depreciate.......add to that all the bellhops getting nervous cause stocks are going down, which of course means 'you should not invest in stocks cause they are risky'.
I'm a fan of this sector in the longer haul however as the sector has 'legislated' growth and incredibly good 'economics'...
Yep, options expiry.
So, what's the go with AMP? What exposure do they have to bad credit? Major investments in anything that's gone pear shaped.
I haven't seen any, so is it's fall just a confidence in the industry thing? Sentiment? Surely if their only exposure is to the general market downturn they will be worth looking at when a potential bottom is found in the market?
Been stated in the financial pages on numerous ocassions that they would be a good fit with NAB. Any thoughts on that?
I originally got a few of these in the float due to a couple of life insurance policies and managed to sell out around $20. Fhew!
Not really trending back up yet.
good call getting out of AMP at $20
I would do the same..well I have a ceiling when my stock reach potential and I'm getting out and wait and wait and wait I hope you're right about AMP's lack of exposure to the sub-prime bug.
I'd have thought that any fund manager involved with international fixed interest/mortgage bonds or equity funds has the potential to find some, possibly indirect exposure there, eg the US investment banks, mortgage insurers etc.
Bear Stearns shares, anyone?
I'd have thought that any fund manager involved with international fixed interest/mortgage bonds or equity funds has the potential to find some, possibly indirect exposure there, eg the US investment banks, mortgage insurers etc.
Bear Stearns shares, anyone?
prawn_86
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I know my old man loaded up on these guys in 2003 when they were under $4
He sold them last year when they were ranging between $10 and $11, as they never actuyally broke $11 so he bailed.
Very good timing for him, and i think that was one of his best invstments to date.
I might have to remind him about them again if they drop below $7 again
He sold them last year when they were ranging between $10 and $11, as they never actuyally broke $11 so he bailed.
Very good timing for him, and i think that was one of his best invstments to date.
I might have to remind him about them again if they drop below $7 again
I hope you're right about AMP's lack of exposure to the sub-prime bug.
I'd have thought that any fund manager involved with international fixed interest/mortgage bonds or equity funds has the potential to find some, possibly indirect exposure there, eg the US investment banks, mortgage insurers etc.
Bear Stearns shares, anyone?
AMP made most of their money from financial planning, superannuation, managed funds and insurance.
If they have any exposure to sub prime it would be their fund under management and even if they do it's other people money and they still pocket the fees maybe not the performance bonus fee but basic fees.
Having said that I know AMP has been very conservative since the UK venture disaster which is a good thing for them.. they are taking thing nice and slow these days (organic growth rather than M&A) so I be shock if they have any on their balance sheet.
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