Buying opportunities?

[sam76]

I understand that the free-fall is continuing, but what stocks do readers see as being oversold and good value??

Although I haven't looked too hard, TCL seems to be good at sub-$7

Anything else???

 

[The Bookeeper]

Are you offering a stop loss service for us?

 

[sam76]

LOL

I thought I might have jumped the gun starting this thread so early! :laser_sho

Ahhh, the impetuousness of youth.....

 

[happytrader]

Hi there Sam76

I'm agree with the Bookeepers sentiments. Love the way he puts it. Its not a good time for heroics friend! Wait for a recovery before you enter the market and move with the market. There's a lot of pain out there at the moment and that breeds volatility. As always this is only my opinion and not to be taken as a recommendation.

Happytrader

 

[Smurf1976]

OXR looks a little more positive than many others to me. Price and volume moved up in the last hour of trading though I'm not really sure how significant that is.

 

[happytrader]

Hi There Smurf1976

If you did decide to buy OXR you can at least subsidise your purchase and cover your downside with suitable option cover. Not a bad premium in my opinion. Of course check it out and do your own research. This is merely my opinion and not to be taken as a recommendation or financial advice.


Happytrader

 

[It's Snake Pliskin]

ADB is not bad buying!
It fared well yesterday but dropped some today. I got in at $12.65 after it was sold off as low as $12.40. I feel any lower would be too much. I'll find out tomorrow.

 

[BraceFace]

I like BNB as potential buy. Some commentators have suggested will be a $50 stock in times to come. It has been hammered down nearly 25% in the last 5 days which is a little excessive when you consider that the market is only down around 4%. Closed at 16.51 after stabilizing later in the day. Hard to call but even if it falls back some more, it's a good longer term play.

 

[wayneL]

I don't know about you lot, but I've been short selling my arse off.

This has been a very nice three days.

SPI down 27 @ 4403 atm...coulda sworn I saw it @ -38 earlier.

Looks like big down day no. 3 for the ASX... or :fan depending on your time frame etc

<edit> a strong bounce off the lows as we go into the close...could auger well for you dip buyers...good luck

 

[wayneL]

SPI is actually +9 at the close of the US futures.

Up day for ASX maybe?

 

[markrmau]

Was a big dip. Time is gmt.

PS I wouldn't touch BNB until it got down to $10-12

 

[Yippyio]

I like BNB as potential buy. Some commentators have suggested will be a $50 stock in times to come. It has been hammered down nearly 25% in the last 5 days which is a little excessive when you consider that the market is only down around 4%. Closed at 16.51 after stabilizing later in the day. Hard to call but even if it falls back some more, it's a good longer term play.

Hi Braceface,

One of the reasons BNB has come off so severly is it recieved a new brokers valuation of just $ 7.45.........ouch :goodnight

 

[el_ninj0]

MGX is a good buying oportunity at its current level in my opinion. Its helped by lower all prices. Its really only going to be effected by the chinese market. Which is clearly not slowing. There is a possible iron ore price rise of minimum 10%. Lots of panic overselling happend yesterday, which in my opinion was totally unjustified.

Its dropped 6 cents in the pass 2 days with the drops, but there is decent support now at the 80cps level. I doubt it will drop further today. I'd be putting my money on a rise in the price rather than another drop.

 

[It's Snake Pliskin]

Hi Braceface,

One of the reasons BNB has come off so severly is it recieved a new brokers valuation of just $ 7.45.........ouch :goodnight

Yes, I thought when it hit $14 is was overvalued, but it just kept going up. It will be a few years before it is $50.

 

[tech/a]

SBM looks set to launch again on pre open.

 

[It's Snake Pliskin]

MBL is down today after a quick run in early trading.

Who is buying MBL and why?

 

[It's Snake Pliskin]

Is there anyone willing to challenge their pride on this thread?

 

[Knobby22]

Most of the stocks I have been hoping will drop have actually risen or have gone no where. CSL keeps performing, it is my largest shareholding and I can't wait to hear from mcNamee on Alan Kohlers program tomorrow.

I think Woodside may be starting to enter bargain territory.
A minor oil price drop does not really effect a company that gets most of its revenue from gas and has a number of large projects being built. As usual, I am talking a long term buy.

I like BHP and may buy some if they get to $18.

I think the wisest buys are companies that do not rely heavily on the domestic economy or are in near monopoly situations.

I am keeping an eye on Metalstorm. This is a good technology company that needs to make a raising. If the market causes the raising to be at a lower price say 20c then they may be a good chance to buy in.

Chemeq may be a good turn around story, needs to fall more.

TSR is a company with a new business, I will also be keeping my eye on it, very chancy investment for the brave.

Mul - this company is one I would certainly put money into - not! my prediction is that it will die horribly within a year.

 

[BraceFace]

I like BNB as potential buy.

Contrary to some view on this forum, BNB has in fact rebounded strongly since last weeks dramatic declines. My prediction is $25 by the end of the year.

 

[Yippyio]

FYI - Resources looking very strong despite recent weakness on equity markets.

Read on..........



Gold futures near record highs
Source: AAP
Date: 2005-Oct-11 07:35 AM
Copper prices ended off record highs set earlier in London Metal Exchange business, as buying interest petered out in low-key trade, dealers said.

Three-months copper ended at $US3,917 a tonne, up $US2 on Friday's close but off an earlier all-time peak above $US3,950.

Current high prices met with resistance from physical dealers, although investment funds seemed content with their long positions, dealers said.

Plant closures, production cuts and labour disputes have all affected supply, which combined with falling LME stocks, have created tightness against robust demand.

Aluminium was at $US1,904, down $US3, while zinc was at $US1,479, unchanged.

Lead was at $US962, down $US7, while nickel was at $US12,700, down $US400.

Tin was at $US6,600, up $US50.

Comex Gold - Gold futures in New York settled at near-18-year highs as fund buying on the back of economic worries and strong investment demand extended the metal's recent rally, traders and analysts said.

Silver futures reached a 10-month peak, driven up by copper prices hitting another record and by higher gold.

Benchmark December delivery gold edged up 30 US cents to finish at $US478 an ounce on the New York Mercantile Exchange's COMEX division.

Prices have benefited from recent worries about inflation and geopolitical uncertainty due to gold's role as a classic safe-haven asset, trading sources said.

Bullion hit an almost 18-year peak at $US478.50 early Monday on jewellery demand and safe-haven buying. Many market players expect gold to soon test the $US480 level before eventually marching toward $US500.

But some dealers felt it was at risk of profit taking by funds and could correct lower in the short-term. In addition, a growing net short position held by commercial players was seen as technically bearish, which could dampen the rally.

Trading lacked lustre in the session due to holidays. It was Columbus Day in the United States, a federal holiday, and bond trading was closed, while Canada was off for Thanksgiving and Japan celebrated a national holiday.

Spot gold changed hands at $US474.80/475.50 an ounce late in New York, above Friday's close at $US473.80/4.50. Monday's late fix in London by bullion dealers was at $US473.20.

Brought to you by AAP.
© 2005 AAP