Good Buying this morning

[YOUNG_TRADER]

Morning has seen alot of selling in resource stocks, lol Zinc Copper Gold, every commodity practically pushed to new highs, so selling shall be short lived, buyers should take control after lunch, buy the dips peeps buy the dips!

 

[Ants]

Damn YT. Im out of Dosh, lol.

 

[noirua]

Morning has seen alot of selling in resource stocks, lol Zinc Copper Gold, every commodity practically pushed to new highs, so selling shall be short lived, buyers should take control after lunch, buy the dips peeps buy the dips!

Hi Y_T, Some large holders take the opportunity to sell into a rise when they find their portfolio becoming well out of balance. Less chance of selling, for them, on the way down. Or perhaps we all wobble a bit at these dizzy heights.

 

[3 veiws of a secret]

Ants!!! I've got two bottles of 1986? or '87? Penfolds 707......do you want to share my last two treasures with me before I make another purchase?

 

[RichKid]

We might have to be a bit careful as this is looking a bit toppish, maybe just profit taking, check out the XJO chart for the last few days, some selling spikes.

 

[Sean K]

Too toppish for my liking. Grab a parachute!

 

[YOUNG_TRADER]

In and out on OXR, BDG and ZFX, day trades only no actual buy and holds for me

 

[YOUNG_TRADER]

Also I don't really care if 'short term' XJO falls (hopefully to 5240-5260) and XMJ falls (again will be good to see it settle around 11700 ish), it will be a good shake out of the bears before we move on to higher highs!

 

[ctp6360]

I'm totally with you YT, its a golden buying day today, everything falls 1/2/3% today and then bounces back 2/3/4% tommorrow, I've profited from action like this so many times over the last few months.

Then again, I could be wrong and the sky really is falling?

 

[YOUNG_TRADER]

Then again, I could be wrong and the sky really is falling?

By tortus the sky is falling? Quick asterix we must go and consult getafix!
I really hope you have read Asterix else you'll think I'm insane!

I look at it like this, I am 100% exposed to commodities, as far as I am concerned commodities boom has at least 12months left in it due to lack of supply, and surging demand from China & India etc, any retreat or fall is a consolidation in my books just like May and Oct last year before the 'good' commodity stocks power ahead as they have!

 

[michael_selway]

By tortus the sky is falling? Quick asterix we must go and consult getafix!
I really hope you have read Asterix else you'll think I'm insane!

I look at it like this, I am 100% exposed to commodities, as far as I am concerned commodities boom has at least 12months left in it due to lack of supply, and surging demand from China & India etc, any retreat or fall is a consolidation in my books just like May and Oct last year before the 'good' commodity stocks power ahead as they have!

Today the DOW fell alot, thats why All Ords shoudl fall as well regardless

thx

MS

 

[Jay-684]

for anyone interested, page 23 of the SMH tofay has a good article on the commodities boom regarding a report released by Goldman Sachs.

Basically it said:

- Upgraded long-term commidity price forecasts by 20-30%
- This is due to the expected future economic growth from Brazil, Russia, India and China
- Raised long-term forecast for copper (+29%), Iron ore (+21%), Zinc (+37%), Oil (+33%)
- Gold - US$630 - US$800 medium term range

 

[bowser]

Is anyone else surprised at the aussie markets strength today?

As MS said the DOW took a beating overnight, over 100 points. That normally means a sharp decline on the ASX. Late european trading was certainly altered. Amazing what an effect commodities are having on our market.....

 

[professor_frink]

yeah but commodities had a huge night last night, so that would have given the market a bit of support today. I was actually a little surprised at the weakness of the big miners this morning!

 

[coladuna]

I was rather disappointed with the performance of resources stocks despite the fact that US market plummetted overnight. However, it did recover a bit after lunch so it didn't end up being as bad as I thought. As YT said, I would have bought some shares today if I had some money left. Shame I didn't have any money left.

 

[clowboy]

Jay 684

Read the article,

Found it very interesting that there upgraded prices are still over 50% below sopt prices

 

[powerkoala]

Aussie market is getting stronger.
watch london, and see how bhp and rio slammed.
hope they are not getting slammed as well on monday.