MBL help?

[makybe_05]

Hey,
This is my first post on this forum and what I've seen so far it looks like a good place to hang around. Anyway, heres my dilemma. Ive got about $700 saved up through my part time job and i thought that i moswell invest it into the sharemarket seeing that ive had a few good experiences lately and its better than it sitting in the bank. Thing is that i want to sell these shares in at the end of the year for my motorbike. I am thinking Macquarie atm at maybe 68 if i can get it that low??. Just wondering what everyones thoughts are. Thanks so much in advance too by the way, glad that theres a few people that i can bounce some ideas off.

Also if i was to buy macquarie bank what do you think i should set my buying price at? Ive had a look at the market depth and by what ive seen it looks like it might be heading in the north direction again tomorrow, or i could just be completely wrong.

 

[GreatPig]

First question is: how much do you really want that motorbike?

GP

 

[springhill]

Hey,
This is my first post on this forum and what I've seen so far it looks like a good place to hang around. Anyway, heres my dilemma. Ive got about $700 saved up through my part time job and i thought that i moswell invest it into the sharemarket seeing that ive had a few good experiences lately and its better than it sitting in the bank. Thing is that i want to sell these shares in at the end of the year for my motorbike. I am thinking Macquarie atm at maybe 68 if i can get it that low??. Just wondering what everyones thoughts are. Thanks so much in advance too by the way, glad that theres a few people that i can bounce some ideas off.

Also if i was to buy macquarie bank what do you think i should set my buying price at? Ive had a look at the market depth and by what ive seen it looks like it might be heading in the north direction again tomorrow, or i could just be completely wrong.

Makybe my uneducated opinion would be that with out the full extent of the subprime situation being clear, i for one would steer away from Macquarie, they have exposure to it and have been hammered paricularly hard of late. Though they are recovering at the moment, so are most other blue chips. As more subprime info leaks out, they could be yo-yoing for a while to come, not really going anywhere in the long run. There are alot better and safer bets around at the moment

 

[makybe_05]

any ideas then? I want that motorbike pretty bad

 

[stoxclimber]

You have $700. It'll cost you $40 to trade the share in and out. That's already over 5% of your return that you are giving up.

It's really uneconomical to put <$4k into the market. I'd advise you to keep working hard and saving.

 

[springhill]

First things first, if ur willing to invest it u gotta be willing to lose it.
If ur looking to hold short term, find out the sector that is flavour of the month, at the moment iron ore. If u want blue chip FMG is miles off its high.
Something with more of an element of risk theres GBG, Yilgarn, or numerous others in the midwest region. Look for something where there is action afoot. Or even riskier look at SDL.
Its up to you mate, but always look into it yourself, people here will always try to help and have there own views on every share but its your hard earned so always act responsibly and dont invest blind.
There are heaps of iron ore plays out there that i know absolutly nothing about so i can only mention what i am aware of
Ill disclose i hold SDL and GBG
Most important DYOR!!
Good luck mate

 

[Awesomandy]

1. go to casino
2. put $700 on black
3. profit.


I'm not sure why you've picked MBL, but if you are unfamiliar with the market and/or the actual stock you are considering to buy, my previously suggested method would probably be a better idea.

Also, as previously pointed out, the brokerage costs would make a $700 trade very uneconomical. Let's say, it's $30 to buy in, and then $30 to sell out. That's $60. Your stock would then have to gain almost 8.5% just to cover the brokerage.

So, for now, I think the best idea would be to stick the cash into a high-interest account. Try to save up a bit more before putting the money into the market, and, in the meantime, learn as much as you can. I find that this forum is a great place to learn as well. There are plenty of high quality intellectual discussions where you can gain perspectives of different viewpoints. And, of course, you can always ask questions too, and most of us would be more than happy to assist.

 

[stoxclimber]

Make sure your high interest account is near costless to set up since with 700 you're only getting like $40 a year before tax (if your savings account will even pay interest on $700). IMO cut down on your expenses and save up more money! Take a good hard look at what you're spending money on...

 

[makybe_05]

Im looking for something that i can rely on so maybe MBL isn't worth the risk? Something that i know that will cover the brokerage fees and anything else is a bonus. Maybe go with another bank?

 

[juw177]

Im looking for something that i can rely on so maybe MBL isn't worth the risk? Something that i know that will cover the brokerage fees and anything else is a bonus. Maybe go with another bank?

You should think for yourself before posting such a thread expecting people to think for you. And now that people have made useful replies, read them and think about them before asking another question.

Before you even think about if you should invest in the stock market, how about starting with: What is your aim? How much are you willing to risk?

 

[Nyden]

Im looking for something that i can rely on so maybe MBL isn't worth the risk? Something that i know that will cover the brokerage fees and anything else is a bonus. Maybe go with another bank?

Short-term, nothing in the market can be relied on to make a substantial profit (if any, and not a loss), especially since you intend on selling the shares within the next 4 months.

Even the best of companies can take substantial losses in the short-term, & as I already mentioned in the MBL thread to you, and what many have on this thread stated; put the money into a high-interest savings account, & save up more money.