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
kennas said: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.
Julia said:$600! Half your luck, kennas. I have a bill sitting here for last year's tax for $3200!!
Julia
nah northern beachesYou guys must live in the eastern suburbs of Sydney!
kennas said: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.
kennas said: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!
Techtech/a said: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.
Realist said: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 said: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.
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