How much have you lost on shares in the last 3 days?

[The Mint Man]

Blue chips like RIO and BHP going through 10+% price volatility in just over a week is sketching me out too

can't believe how strange the Australian market is, everyone talks of a big correction yet over the last 2 days it makes massive gains, unbelievable, the ASX is so volatile and tied to the US and Asian markets it is absurd.

Dont you think the market is racing ahead too fast

Exactly what I was getting at in post 222, glad to see some people think the same as me

However I do agree with what realist is saying... for a person investing over the long term BHP was probably a good buy. Sure it could have been bought for $1 less, in realist case I belive (from memory) that would have been a $100 Saving but if it goes back to say $32 anytime during the next year then he has still made 10%. not too shabby.

 

[The Mint Man]

well yet another up day on a friday! will we see the US go down again overnight?
Hmmm, Ill take a stab. yes will the ASX follow? probably :

see ya on monday :goodnight

 

[Julia]

Yeah Laurie, It's a drama. I'm mostly long term but I tell you tax time is a nightmare. It cost me $600 to have my tax done last year!

Agree with the above posts about volitility and the see sawing going on. Could see some more big drops over the next 2-3 weeks.

Interest rate increase is factored in I think, so if they don't, or make even a smaller increase, like 10 basis points, then the market will probably love it.

$600! Half your luck, kennas. I have a bill sitting here for last year's tax for $3200!!

Julia

 

[cuttlefish]

$600! Half your luck, kennas. I have a bill sitting here for last year's tax for $3200!!

Julia

Yeah my accountants got his own inflation rate going - 100% per annum - first year I saw him (about 8 years ago) it was only $150 bucks. He tried to charge me $1800 two years ago but after some discussion he agreed to settle at $1200 (and last year it was about the same so maybe sanity has settled in).

 

[Sean K]

What the!!!! Having tax doesn't cost that much does it? I've had a share portfolio, investment properties etc, for over 10 years. $150 was the most before last years $600! I think I'll do it myself, and wait for a please explain later. You guys must live in the eastern suburbs of Sydney!

 

[cuttlefish]

You guys must live in the eastern suburbs of Sydney!

nah northern beaches

What the!!!! Having tax doesn't cost that much does it? I've had a share portfolio, investment properties etc, for over 10 years. $150 was the most before last years $600! I think I'll do it myself, and wait for a please explain later.

just wait - betcha it's more next year (trying to get an explanation for this will be impossible). Trying to do it yourself and waiting for a please explain isn't a good idea (I know people this has happened to) so the $600 is probably good insurance. Plus its a bit of a hassle if you decide you want to switch as well - I've got no complaints about the service I'm getting so will probably just stick with it.

 

[Julia]

What the!!!! Having tax doesn't cost that much does it? I've had a share portfolio, investment properties etc, for over 10 years. $150 was the most before last years $600! I think I'll do it myself, and wait for a please explain later. You guys must live in the eastern suburbs of Sydney!

Regional Queensland actually, Kennas! This was one of my arguments to the accountant re the bill - that they weren't paying CBD Sydney or Melbourne rents. Ineffective argument it seems. Mine is a self managed super fund with shares, cash and fixed interest only - no property.

I have found a different accountant now.

Julia

 

[tech/a]

I dont begrudge my accountantcy firm its fees.
They save me a fortune,have set me up in a manner which is safe.
Provide sound advice which I have acted on on many occasions with result that have benifited me well beyond the fee.
They are a large firm with large fees ( as percieved by some---My admin officer for one!). Yet they are personable,accessable,efficient,timely and above all inovative.

There SHOULD be much more to an accountant than TAX issues.

Perhaps there are some who dont know how best to utilise their accountant.
Take the time to investigate what they can do for you. You maybe suprised at their capabilities.

Take the time to equate your accountant with who you are on a financial level---your goals,wants future ideas and strategies.

Information quality,out is often relative to the quality of information in!!!

Its a 2 way street.

 

[Julia]

I dont begrudge my accountantcy firm its fees.
They save me a fortune,have set me up in a manner which is safe.
Provide sound advice which I have acted on on many occasions with result that have benifited me well beyond the fee.
They are a large firm with large fees ( as percieved by some---My admin officer for one!). Yet they are personable,accessable,efficient,timely and above all inovative.

There SHOULD be much more to an accountant than TAX issues.

Perhaps there are some who dont know how best to utilise their accountant.
Take the time to investigate what they can do for you. You maybe suprised at their capabilities.

Take the time to equate your accountant with who you are on a financial level---your goals,wants future ideas and strategies.

Information quality,out is often relative to the quality of information in!!!

Its a 2 way street.

Tech

Good point for someone in your situation. However, my financial affairs are very straightforward. No companies, no investment properties et al.
All this accountant needed to do was use the standard SMSF software to do the tax return from the clearly recorded material I gave her. I have sought quotes from other accountants since then to do the same thing with the same material and those quotes are for $1200 less.

It's also reasonable to note that the actual work was not done by the accountant but by one of her employees who is a clerical worker.
The accountant in question doesn't even offer the service of setting up allocated pensions should I want to do that when I reach retirement age.
I don't mind paying when I get good value for money but in this case, I just didn't.

Juia

 

[clayton4115]

well since 1 may 2006 - when the market commenced its correction i am down 4.30% while the market (ASX all ords) is down 7.06%

 

[Realist]

I'm up nicely now for the year.

CDO rocketed 25% today.

BHP and RIO and BSL have done me well.

 

[clayton4115]

yea takeover speculation

 

[Realist]

Should I sell CDO at $4.26 or just keep holding?

 

[clayton4115]

I would definitely sell, but i am not giving you advice!

 

[lesm]

I'm up nicely now for the year.

CDO rocketed 25% today.

BHP and RIO and BSL have done me well.

Hey Realist,

Are you trading on the ASX or another exchange??

@15.55 AEST
Stock Bid Offer Last Change % Open High Low Volume
CDO 4.250 4.260 4.260 0.460 12.11 4.200 4.300 4.060 2,496,141

 

[Realist]

Hey Realist,

Are you trading on the ASX or another exchange??

@15.55 AEST
Stock Bid Offer Last Change % Open High Low Volume
CDO 4.250 4.260 4.260 0.460 12.11 4.200 4.300 4.060 2,496,141

Well, they were about $3.40 1.5 days ago.

I've made 25% anyway in 1.5 days. I've owned them for 3 weeks.

 

[Porper]

Well, they were about $3.40 1.5 days ago.

I've made 25% anyway in 1.5 days. I've owned them for 3 weeks.

Nice work if you can get it Realist

If you look at the chart the recent high (in April) was $4.32, todays close $4.29, so very close, if this is breached I would say it is still going up, also on the positive side there was high volume, and the close was on the days highs (almost) with a long tail, also bullish.

So the only negative is that I am wrong more often than right

So I would keep them and use a very tight stop, if prices reject at $4.32 I would be out, otherwise let profits run.This should be rule no.1 in my view.

 

[Realist]

Nice work if you can get it Realist

If you look at the chart the recent high (in April) was $4.32, todays close $4.29, so very close, if this is breached I would say it is still going up, also on the positive side there was high volume, and the close was on the days highs (almost) with a long tail, also bullish.

So the only negative is that I am wrong more often than right

So I would keep them and use a very tight stop, if prices reject at $4.32 I would be out, otherwise let profits run.This should be rule no.1 in my view.

Hmm thanks.

Let's see tomorrow...

 

[BlueTrader]

MBL went off today, +4.2%. $68.56 close !!! This baby's got more coming!!

 

[chennyleeeee]

Lost too much, enough for me to want to save on tax. haha

CHEN