Positions updates

[Garpal Gumnut]

agree too much fear. I never took you for a bottom picker kennas mate, typical BASB choco lol.

gg

 

[shag]

i like the mak story
i've bought a handful.
even if the world goes into a hard recession, you still need fertiliser. and it seems they have a lot of the stuff, at high rates. surely this is the sort of thing rudd wants to progress to grow the economy also.
plus the site, hell have u ever seen a site begging to be dug up.
but then i like too many resource plays.
note, u an cut back on fertiliser for a yr or so, but soon it comes back to haunt you.

 

[Sean K]

Only a choco after 13 real years.

They're called CSSBs now too...

 

[Miner]

Just to say hello to Kennas and other contributors to this blog. I noticed for long time nothing was posted by Kennas either. Of course market is bloody tale tell for all of us

Take care and all the best

 

[Sean K]

Yes, nothing added, because nothing done.

Have not made a trade in a month....

Almost bought some more MAK on Friday, but thought I'd wait for an uptrend...

I've not even been day trading due to my current living arrangements. Just moved in to a new apartment for 2 months, but it's temp.

I am also now working during the day with my wife doing special projects for the company. Right now I'm the HR and Sales Manager. Positions that were supposed to be filled but due to the credit crisis have been deferred till mid 2009.

So, for the next few months I am a volunteer with Intrepid Andes during the day and trying to find time to go to the gym, learn guitar, get Spanish lessons and then decide on some investments...

Happy to be watching at the moment.

Sean

 

[Miner]

Interesting observation and correct from a shrewd investor like you who does not forget to watch the starry sky and mountain with guitar.

Enjoy your HR and Sales role. Probably you will not face the skill shortage to source your people. With so many projects been made off the shelf in Perth/ WA , miners and engineers will be easy to locate and probably Visa 457 is going to be parked as well.

See ya

 

[Gurgler]

Also doing nothing for the moment.

Figure it will be a while - probably after my 'tour of duty' ends in Jan 09 - thereafter I will be back in the 'real world' aka Melb. In the meantime I will watch and learn - well, try to.

What a ride it's been; still musing about what the longer term recovery will be like!

Watching, waiting.

 

[Sean K]

Looks like a short term bottom definately in place, but how much this up move has, no idea. 4800 ish a possibility?

Dirtied the fingers with stops of course.

 

[Sean K]

I'm finding it harder and harder to not jump in to some of these seriously oversold juniors with cash and known assets close to the majors.

BRM is a classic.

1.5b tns of IO with an MC of $70m and cash in the bank of $110m..

WTF?

Might have to take a long term punt there.

Surely a takeover on the cards. Just at it's cash backing is a 40% return.



Long term support at .50 ish holding. For now.

 

[Sean K]

Well, was a bottom for a few days....

LOL

 

[Sean K]

Dipped my toe in the water and bought 20K@.52.

Will add or sell as the market dictates.

Might be a LONG wait for a return, but on the facts available looks stupidly oversold.

Market seems to be factoring in total earth implosion....

 

[Gurgler]

Yes, I've been keeping a watchful eye on it also.

But as you say with the current market movement, when is the time to act?

 

[Sean K]

I still think 3400 ish on the XAO is a possibility, and any buying between here and there something that could survive might be a good long term buy. I'm not sure how this can fail with $110m in the bank. Even if they need to just halt progress and wait for the dust to settle. If it takes 2 years so be it, but with the cash backing far outweighing the MC I just can't see much more downside. Unless there's something we don't know....

Obviously a risk, but that's life!

Ready to sell probably if it makes the low 40s and will re-evaluate.

 

[Garpal Gumnut]

Mate its in a long term downtrend and a descending triangle. If you are correct stick with it. If it nudges below 0.4550 I would be out if I were you.

gg

 

[Sean K]

Yep, I agree.

Not going to hold if it starts to fail the 50 ish support.

I'm going against my normal trading plan here as I normally only jump into anything breaking up, but this is an exception to me.

There must be a reason for the arb on the intrinsic value and mc, but I can't really see whay it should be so far undervalued, and right now, I think the downside is more limited.

Happy to be burnt a few bucks for the potential reward on this 'investment'.

Let's see.

Actually thinking about adding some more Mon am pending the open.

Eeeeeek!

 

[Sean K]

Well, this was my first buy of anything for some time, other than day trading some large caps, the index and gold and I think it will be short lived.

While I think we're nearing a bottom, just where the fvck is it? I was think 3400, but the fundamental news just keeps getting worse.

Might be best to get back behind the couch I feel and stick to short term ....

:couch

At least for a few more days...

 

[Sean K]

Golly, breaking Oct lows, 3400 ish next stop perhaps.

I anticipate some technical buying around these levels.

If we go under 3500 I'll be buying.

 

[Sean K]

I'm back behind the couch....

:couch

 

[Naked shorts]

i think its down because everyone is getting out of risky small cap stocks to fund their failing large caps

 

[basilio]

Can't believe it can you? Seems absolutely rock solid money in the bank share - and its still falling. I think BRM needs to look as if they are doing something - even if it is only looking for partners, doubling their cash on roulette !!! whatever.

I wish i had taken the small profit I had when I bought at 52 originally.