Australian (ASX) Stock Market Forum

Buy with open arms?

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C'mon when is someone going to stick their arms up in the air and declare it. Every day there is bad news - been that way for weeks.

The day has to be near. I've sold almost everything weeks ago and my hands are just itch'n to buy back into this carnage.
 
LifeChoices said:
C'mon when is someone going to stick their arms up in the air and declare it. Every day there is bad news - been that way for weeks.

The day has to be near. I've sold almost everything weeks ago and my hands are just itch'n to buy back into this carnage.
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Wouldn't call this carnage, this is just a range bound market isnt it?
 
LifeChoices said:
C'mon when is someone going to stick their arms up in the air and declare it. Every day there is bad news - been that way for weeks.

The day has to be near. I've sold almost everything weeks ago and my hands are just itch'n to buy back into this carnage.
Click to expand...

The little bell rang about 2 weeks ago indicating the bottom for the resources sector - rises range from 30% to 70%. The market appears now to be consolidating and it is not yet clear when and which way the next move will be.
The takeover bid for MCC points to a long way to go in the upwards direction.
Some stocks were left behind in the run up - time now to sort them out.
 
noirua said:
The little bell rang about 2 weeks ago indicating the bottom for the resources sector - rises range from 30% to 70%. The market appears now to be consolidating and it is not yet clear when and which way the next move will be.
The takeover bid for MCC points to a long way to go in the upwards direction.
Some stocks were left behind in the run up - time now to sort them out.
Click to expand...

I have to say I am very cautious here.
XJO is somehow back at the bottom reached in June, but SP500 is middle of the range, so what happens if SP500 tests again the 1250 area....or goes even lower... ( a strong possibility, with the big boys pushing hard for a QE3).

cheers,
 
Are we now at the 'buy with open arms' stage or yet another little bell ringing and it turned out to be ringing in my ears.
Much talk of the iron ore sector revival and near doubling of the iron ore price. So coal from semi-soft coke to hard coke should, in theory, be in increasing demand to fire-up the furnaces. Not only China needs steel for vast new developments and infrastructure, countries like Mongolia and Cameroon have big rail developments planned with excellent business governments in place, especially the former.
Uranium is picking up in price if slowly with two new uranium fired power stations opening in China later this year, and bullish talk from Japan.

Not all systems go but buy with open arms in a very stock picking fashion.

Australian interest rates are out of sink still with America 0.25%, Japan 0.0%, UK 0.5% and Eurozone 0.75%. So the strong Aussie$ looks set to remain. [Australia 3%, NZ 2.5%, Russia 8.25%, China 6%, Brazil 7.25%, South Korea 2.75%, Hong Kong 0.5%, Taiwan 1.88%, India 8%, Mongolia 13.25%, Cameroon 5.8%, Indonesia 5.75%]
 
I think I'd like to wait and see, until the big players come back from seasonal holidays, and/or a decent pull back towards the base of the channel.
 
noirua said:
I stayed in cash too long, since December 2009. It looks as if markets may now boom like they never have before - ASX200 is a laggard in the world recovery and may test 10,000 by 2014???
The mining sector is high risk but pointers show it vastly undervalued, however, your smaller stocks may not be keeping up unless they're coal and iron ore related of late??? Small stocks in the mining and oil sector often boom before a major collapse and may well race away, even uranium exploration minnows???
China is set to revalue its currency we're told. If so the USA will be happy bunnies. China shares are set to rocket off the map???
Fill-your-boots me lads and make hay whilst the sun shines???
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I must have been on the beer to have posted this 8 years ago. True I had just made a small fortune on getting cash from the Felix Resources takeover - a 67 bagger since its low in 2003. Of course 2011 heralded the mining decline including gold stocks that went on to 2015. It took me to the start of 2018 to get the losses back between 2011 and 2015. A lesson there.
 
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