Irrational exuberance

[YOUNG_TRADER]

Irrational exuberance everywhere, not just on the mkts,

My girlfriend wanted to go to U2 concert coming up, said she found some excellent level 1 row B tickets that are in the section adjacent to the stage, so pretty much the best seated tickets you could find on EBAY, they cost the seller $400, she happily just told me that 'we' just won at $850, hmm interesting 'we won', lol but I'll be paying,

:headshake Sighh she paid over 2x as much for the same asset very poor trading if you ask me :

 

[Rafa]

you better get back on the share market and make some more cash then!

 

[chops_a_must]

Why anyone would want to go and see U2 in the first place is beyond me.

 

[Sean K]

Why anyone would want to go and see U2 in the first place is beyond me.

One of the first concerts I saw was U2's Rattle and Hum tour in 1983 I think, at the Entertainment Centre. I think tickets cost $20. Was awesome.

 

[chops_a_must]

But they were actually good then.

And not just making money off Stiff Little Fingers at that stage.

 

[Kipp]

Irrational exuberance everywhere, not just on the mkts,

My girlfriend wanted to go to U2 concert coming up, said she found some excellent level 1 row B tickets that are in the section adjacent to the stage, so pretty much the best seated tickets you could find on EBAY, they cost the seller $400, she happily just told me that 'we' just won at $850, hmm interesting 'we won', lol but I'll be paying,

:headshake Sighh she paid over 2x as much for the same asset very poor trading if you ask me :

Shouldn't of bragged to her about EVE then YT... lest she wins you both a Gucci Handbag!! lol

 

[Sean K]

Lots of crazy stuff going out there punters. 10-20% + gains are not normal. While it's an opportunity to make some short term beer money, geting in at the top can be disasterous. Good luck!

 

[Freeballinginawetsuit]

Well most of the Nicklers are nudging highs, PDN at its high and the Zincers aren't far off.

Not bad returns since the pullback, its only been a week and a bit!. .

I wouldn't exactly call it crazy though, pedictable perhaps!, are you talking about the speculative stocks Kennas?. Do you expect the good midcaps to reach highs in the next couple of weeks?, or are you waiting like Nizar to enter these stocks on highs .

 

[CanOz]

Lots of crazy stuff going out there punters. 10-20% + gains are not normal. While it's an opportunity to make some short term beer money, geting in at the top can be disasterous. Good luck!

Hmmm, irrational....the XMJ is only 265 points above where it bounced off support last week, theres lots of cash being sprayed about and i think it might continue up to Christmas now Kennas. Once we hit the highs that we say on the XMJ back on the 7th of November i'll start to get a bit jittery.

Cheers,

 

[Sean K]

I guess my point is people are jumping on just about any stock that has a slice of yellow cake or a chip of zinc and expecting it to go balistic. When a company goes down 2% all of a sudden it's game over.

There are some companies out there with fantastic potential but some are no where near making money and have market caps of $300m + with the potential never to mine. AGS and SMM come to mind. (I own both by the way)

One bad regulatory announcement (like Labor saying they will not change their no new mines policy next year, and these companys will potentially halve overnight. I'm counting on that not happening, but geesh, you'd think the stockmarket was a money tree at the moment.

(disclaimer: happy to be picking the low hanging fruit while it's still there )

 

[chops_a_must]

I'd expect the Liberals to allow more licenses for uranium mines next year, and jamming the Labor party into a position where they can't reverse it.

 

[Sean K]

I'd expect the Liberals to allow more licenses for uranium mines next year, and jamming the Labor party into a position where they can't reverse it.

Chops, Libs can only do this on Federal land. ie, NT, Canberra, Nowra, Christmas Island etc. States control the right to mine. They are all Labor - No new mine policy.

 

[chops_a_must]

Yeah, the NT looks the goer. And if Mitsubishi looks to close, then SA may be under pressure to allow it. They have been flirting with it anyway.

But yes, I agree. Buying into Uranium stocks that have reserves anywhere other than the NT or to a lesser extent SA is just stupid. By the way I don't hold any uranium stocks.

 

[nizar]

Yeah, the NT looks the goer. And if Mitsubishi looks to close, then SA may be under pressure to allow it. They have been flirting with it anyway.

But yes, I agree. Buying into Uranium stocks that have reserves anywhere other than the NT or to a lesser extent SA is just stupid. By the way I don't hold any uranium stocks.

EME.
High grade deposit in NT.
<80million market cap.

 

[Freeballinginawetsuit]

Yep, PDN is in with all the good ones. , makes your choices easy!.

Spread on the boards reminds me of BNM and EVE in the early days, untradeable depth and all over the place with no chance of a realistic stop.Low volumes as well!

They will probably have to do a share split like BMN so their are more on issue and their more tradeable.

But then again, low shares on issue means they can run on low volume, just gotta time youre exit!, because they can tank just as easily , with no chance of a decent percentage stop!.

 

[michael_selway]

I guess my point is people are jumping on just about any stock that has a slice of yellow cake or a chip of zinc and expecting it to go balistic. When a company goes down 2% all of a sudden it's game over.

There are some companies out there with fantastic potential but some are no where near making money and have market caps of $300m + with the potential never to mine. AGS and SMM come to mind. (I own both by the way)

One bad regulatory announcement (like Labor saying they will not change their no new mines policy next year, and these companys will potentially halve overnight. I'm counting on that not happening, but geesh, you'd think the stockmarket was a money tree at the moment.

(disclaimer: happy to be picking the low hanging fruit while it's still there )

omg AGS!

thx

MS

 

[Sean K]

Beacon Minerals just ann that they have identified some radiometric anomolies on one of their tennaments...goes up 50%.....it's an airborne radiometric test by the look of it. No drilling yet. No confirmed uranium. No grades. No idea how thick it is. Oh, but it could be calcrete hosted uranium, like Yirralle, or Lake Maitland.

Oh, by the way, The Barlee Project was initially undertaken as a gold exploration project.....

Is this all real??

OK, OK, it's day traders playing with this maybe, but come on!

 

[dhukka]

Beacon Minerals just ann that they have identified some radiometric anomolies on one of their tennaments...goes up 50%.....it's an airborne radiometric test by the look of it. No drilling yet. No confirmed uranium. No grades. No idea how thick it is. Oh, but it could be calcrete hosted uranium, like Yirralle, or Lake Maitland.

Oh, by the way, The Barlee Project was initially undertaken as a gold exploration project.....

Is this all real??

OK, OK, it's day traders playing with this maybe, but come on!

Agreed it really has to make you wonder. If this it what sets off a 50% price increase surely that's an indication of the state of health of the market.

 

[Sean K]

Agreed it really has to make you wonder. If this it what sets off a 50% price increase surely that's an indication of the state of health of the market.

WMT up 15% on grab samples!?

 

[Sean K]

I took the opportunity to skim a few profits across the board today.

The main reason behind this was that on the weekend I had my hair cut and the barber told me I should buy some AGM shares. He didn't know the full name of the company (I had to tell him that) and he didn't know it mined Nickel in Tasmania.

That was my cue to start locking in a few $$.

Also, I must say, I'm going to Mexico backpacking for 3 weeks leaving Thursday, so this was as good a opportunity as ever.

All the best! Hopefully the market is another 100 points up when I get back! And my barber's hot tip was good!