How much have you lost on shares in the last 3 days?
- Thread starter Realist
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good to hear ageo 
kennas said:
HDR faces some serious operating issues on their Chinguetti oilfield, the cost for them to overcome these problems will eat away a lot of their profit. Who knows how much would it cost.
on the technical side, they have broken through the $1.71 resistant, then 1.625, the next resistant is at 1.38 (the lowest point since April 2004).
I have sold my holding at 2.43 in April, then made two loss trades that has given back half of my profit on HDR.
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lost 6K. :swear:
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The ASX is starting to slide again this could be an interesting finish to the week :alcohol:
this could be an interesting finish to the week :alcohol:
Sean K
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Jet-r, I have $1.25 and then $.65c! as my two support levels. Agree on Chinguetti to some extent, but recent agreement with the Mauritanian Government (Military) is heartening. Sort of. Everything has a bit of risk. I think it's more on the upside with this now.
Getting back to the topic, I think I'm down another $5K the last 2 days, so that's about $60K since April.
Margin Loan will come in handy soon and used to effect. I hope!
Getting back to the topic, I think I'm down another $5K the last 2 days, so that's about $60K since April.
Margin Loan will come in handy soon and used to effect. I hope!
Realist
Billie Jean is not my lover
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It sure is. :swear:
BHP and RIO are slightly under what I paid for them, dammit!!
I think the ASX will finish up about 5 to 15 points today.
And the next trading day, Tuesday. Al depends on the 2 US trading days in between.
Sean K
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Buy more Realist!
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kennas said:Buy more Realist!
ooh, Could be catching knives there.
MIT
Realist
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BHP is down to $26
Sean K
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Ouch!
Did the market just go pear shaped agin in the past 5 minutes?
Did the market just go pear shaped agin in the past 5 minutes?
Realist
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Ouch the market has turned today again!!
4878 now!
BHP is $26 :swear:
I'm up for the day though.....just
4878 now!
BHP is $26 :swear:
I'm up for the day though.....just
Thousands. I bought 38100 put warrants DOW 11000 expiry next week so I am, of course, hoping the market, in the US continues down and hits 10000 next week, they will be worth .50 or more or zero next thursday. If that happens all my losses are washed away! Yesterday was a key reversal day in the US, so we would normally expect a rally next week but lots of that buying could be silly buying caused by short covering and terrorism excitment that all is well now that Zak is dead. I was very good with stops but got slack. If I may suggest that you guys put a trailing conditional stop. You got to keep reminding yourself that it best to be out if its going down.
If you take a look at http://www/kontentkonsult.com/press/ you can read my market report for yesterday.
If you go to www.kontentkonsult.com you can read how bullish I am on Gold long term! Check out a advertisment for me.
If your holding Gold or uranium juniors you will probably be OK. But remember how many more you would have if you remembered to SELL strength and BUY weakness.
YOU MUST USE STOPS OR HEDGE GUYS.
If you take a look at http://www/kontentkonsult.com/press/ you can read my market report for yesterday.
If you go to www.kontentkonsult.com you can read how bullish I am on Gold long term! Check out a advertisment for me.
If your holding Gold or uranium juniors you will probably be OK. But remember how many more you would have if you remembered to SELL strength and BUY weakness.
YOU MUST USE STOPS OR HEDGE GUYS.
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BHP $25.99 now all ord just hangin on
McKern’s Market Report 8/6/06 (No.1)
June 8th, 2006
Well, I been throwing off “other peoples posts” for months now, like crazy, and writing this and that but its time I bit the bullet. The real purpose of this site was to create a framework that would bring discipline and planning to my investing and trading. Over the next 48 months massive opportunities will unfold and these market reports will record the successes and failures, the stories that drove my trading, my big picture view and the trading plans going forward.
Over the last few years I’ve been on the right track but impatience and inexperience cost me dearly. If I had stopped trading in June 2004 my account would now be worth over $250,000. I saw the commodity bull coming back in 2002 and started buying Oxiana, but after losing my job in 2004, I got hot for a big win, lost perspective and blew up shorting the US market that year. A big mistake!
OK, lesson learnt. My first piece of advice therefore is to remind you all to remember Buffet’s first two rules for making money in the market.
1) Don’t lose money. 2) Don’t forget rule 1.
Market Action
Well, its looking like a bear market guys. The cyclical bear within the secular bear is back. Clearly, in my view at least, the US Bull market ended in 2000 and the action since then has been a massive topping formation that ended three weeks ago. I think that there is a 80% chance that the Australian market has joined the bear, but there is a small chance that we will see new highs before we experience the really major correction. The odds that new highs for the market indexes are dead ahead, are however getting smaller every day. Japan’s monetary base is shrinking and world liquidity is in decline. As Faber has pointed out, we were in a situation where stocks, commodities, bonds, gold and everything else was going up. When assets that do not normally move together do so, its liquidity driven. That the world’s “money preasure” is falling is clear and the impact showed up in the fingers and toes first, middle eastern markets are down 50%. In fact, Icelandic bonds were the first domino to fall, followed by emerging markets and commodities, followed by problems in Asia the US. What I expect is that the US market will continue down until mid October at least. I’s say 8000 on the DOW is a reasonable target. As for the US gold indexes, near a bottom, I’d say, but of course I might be wrong: in a market driven my margin calls and defensive selling everything is going to get sold off if we get a crash. The odds of a crash to DOW 8000 are about 30% and rising. Stay posted.
Currently I’m long Oxiana, both warrants and shares with the expectation that today represents the floor for the stock. I an also short the DOW via Citi warrants. That trade is looking good. Of course, I’m kickin myself I went short too soon and didn’t sell my OXR at the May top and load the boat with more shorts, but the way I hedged my longs with June 11,000 puts does look like protecting me from losses. But as I was expecting the market to turn, I really messed up because I didn't have the stop set. No matter, it won’t happen again.
The only way to play this game is with planning and discipline and by making my positions and thinking public, I’m hoping to shame myself into introducing some. I also hoping for feedback and questions from readers.
The future for all commodities and metals, in particular Gold, Silver and Uranium is very bright and my combining the best that fundamental and technical analysis have to offer a disciplined investor must succeed. The markets, reflecting as they do the nexus of geopolitics, economics, technological change sit at an important juncture.
I look forward to reporting on the ride…
June 8th, 2006
Well, I been throwing off “other peoples posts” for months now, like crazy, and writing this and that but its time I bit the bullet. The real purpose of this site was to create a framework that would bring discipline and planning to my investing and trading. Over the next 48 months massive opportunities will unfold and these market reports will record the successes and failures, the stories that drove my trading, my big picture view and the trading plans going forward.
Over the last few years I’ve been on the right track but impatience and inexperience cost me dearly. If I had stopped trading in June 2004 my account would now be worth over $250,000. I saw the commodity bull coming back in 2002 and started buying Oxiana, but after losing my job in 2004, I got hot for a big win, lost perspective and blew up shorting the US market that year. A big mistake!
OK, lesson learnt. My first piece of advice therefore is to remind you all to remember Buffet’s first two rules for making money in the market.
1) Don’t lose money. 2) Don’t forget rule 1.
Market Action
Well, its looking like a bear market guys. The cyclical bear within the secular bear is back. Clearly, in my view at least, the US Bull market ended in 2000 and the action since then has been a massive topping formation that ended three weeks ago. I think that there is a 80% chance that the Australian market has joined the bear, but there is a small chance that we will see new highs before we experience the really major correction. The odds that new highs for the market indexes are dead ahead, are however getting smaller every day. Japan’s monetary base is shrinking and world liquidity is in decline. As Faber has pointed out, we were in a situation where stocks, commodities, bonds, gold and everything else was going up. When assets that do not normally move together do so, its liquidity driven. That the world’s “money preasure” is falling is clear and the impact showed up in the fingers and toes first, middle eastern markets are down 50%. In fact, Icelandic bonds were the first domino to fall, followed by emerging markets and commodities, followed by problems in Asia the US. What I expect is that the US market will continue down until mid October at least. I’s say 8000 on the DOW is a reasonable target. As for the US gold indexes, near a bottom, I’d say, but of course I might be wrong: in a market driven my margin calls and defensive selling everything is going to get sold off if we get a crash. The odds of a crash to DOW 8000 are about 30% and rising. Stay posted.
Currently I’m long Oxiana, both warrants and shares with the expectation that today represents the floor for the stock. I an also short the DOW via Citi warrants. That trade is looking good. Of course, I’m kickin myself I went short too soon and didn’t sell my OXR at the May top and load the boat with more shorts, but the way I hedged my longs with June 11,000 puts does look like protecting me from losses. But as I was expecting the market to turn, I really messed up because I didn't have the stop set. No matter, it won’t happen again.
The only way to play this game is with planning and discipline and by making my positions and thinking public, I’m hoping to shame myself into introducing some. I also hoping for feedback and questions from readers.
The future for all commodities and metals, in particular Gold, Silver and Uranium is very bright and my combining the best that fundamental and technical analysis have to offer a disciplined investor must succeed. The markets, reflecting as they do the nexus of geopolitics, economics, technological change sit at an important juncture.
I look forward to reporting on the ride…
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The Mint Man said:
and back up again
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ASX up 29 points and climbing to 4907
