I Agree, If USA has another big correction we could see RIO around the $45. Just throwing it out there it, SPX 500 is trending down currently so it will be interesting the next few weeks
I Agree, If USA has another big correction we could see RIO around the $45. Just throwing it out there it, SPX 500 is trending down currently so it will be interesting the next few weeks
Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
- Posts
- 13,346
- Reactions
- 9,456
All stock predictions are opinions and I respect yours, but definitely do not agree. Recently on another thread I predicted RIO would make $90 in 2013.
I'd like to change that and predict a possible wave 3 high of $120, before a pullback to $100.
A monthly chart.
RIO has saved my bacon on a number of occasions and increased my wealth more than any other share in a bull market.
Just my opinion.
gg
Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
- Posts
- 13,346
- Reactions
- 9,456
Good call, I'm looking at a retracement close to $60 now to add to my holdings.
I posted a chart recently on a breakout thread, on RIO which illustrates my thinking.
gg
Got lucky and took profits on 3rd Jan.
(Expected the market mood to soften after Fiscal cliff hype was settled).Also, currently waiting on a substantial retrace due to the US debt can kicking uncertainty.
Expecting a last minute 'muddle through' (or expectation of such) will produce a similar uptick afterwards.
Likely such a 'muddle through' will involve some soft of money creation (inflation) to pay down some debt.
Inflation will likely also put further weight to an upswing.
Now to gamble on when market sentiment will shift from uncertain (downleg) to confident (upleg).
Just my ramblings.
Rio has great long term prospects.
CanOz
Home runs feel good, but base hits pay bills!
- Joined
- 11 July 2006
- Posts
- 11,543
- Reactions
- 519
The CEO just quit...Just heard on the Bloomy...
- Joined
- 1 October 2008
- Posts
- 3,733
- Reactions
- 391
Although it's old news -
That is truly a disgusting number.
That is truly a disgusting number.
- Joined
- 1 October 2008
- Posts
- 3,733
- Reactions
- 391
McCoy Pauley
Get out of here Budweiser!
- Joined
- 12 November 2009
- Posts
- 616
- Reactions
- 0
Window dressing.
He was sacked but the chairman is just being polite about it. Could be a good opportunity to pick up some RIO on the cheap tomorrow.
skc
Goldmember
- Joined
- 12 August 2008
- Posts
- 8,277
- Reactions
- 329
Guess these guys deserve their 8 figure paychecques.
The Mozambique assets were those of the old Rivendale (RIV) when RIO took them over. How times have changed for the coal space on the ASX...
With all these writedowns perhaps RIO won't have to pay any MRRT?!
galumay
learner
- Joined
- 17 September 2011
- Posts
- 3,362
- Reactions
- 2,169
Good to see Albanese gone, the guy was an idiot and destroyed value in Rio at a record pace. As an employee of Alcan when Rio took them over in Albanese's ill fated pre-emptive strike against BHP, I can honestly say I have never worked for a worse run company. I suspect the lackey that replaces him will be just another Rio yes man and nothing will improve.
Working for them is an insight into just how immensely profitable digging holes and putting them on ships is, despite all the things they do so badly, they still manage to make sqillions!
Working for them is an insight into just how immensely profitable digging holes and putting them on ships is, despite all the things they do so badly, they still manage to make sqillions!
- Joined
- 10 December 2012
- Posts
- 3,632
- Reactions
- 9
Shame it took so long to get rid of him.
All those bonuses and pay rises and still the shareholders have to wear the costs.
All because the RIO board couldn't bare the thought of being bought out by BHP. A combined RIO BHP Pilbara iron ore business. Now that's something I'd like to invest in.
- Joined
- 8 June 2008
- Posts
- 12,426
- Reactions
- 18,089
if it helps, I worked for BHP and believe Marius is even worse: I really though I worked for the worse run company!
But he is still there and as you point out for RIO, the whole structure is full of spineless yes men so I do not see much good coming in the near future.
I only trade BHP/RIO as short term trading, I would not invest any dollar there.
As for making profit, how hard is it when you sell product you get basically for free yet ...
These mining company are basically logistic and marketing giants, and they do not even need to do the actual exploration, they just buy junior assets.
Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
- Posts
- 13,346
- Reactions
- 9,456
It will be interesting to see how it ends up bar and volume wise today.
I'm still a considerable holder, hoping for a pull back to top up, but it may have eluded me, this time.
gg
I'm still a considerable holder, hoping for a pull back to top up, but it may have eluded me, this time.
gg
- Joined
- 10 December 2012
- Posts
- 3,632
- Reactions
- 9
most of the board should resign as well. they gave the go ahead for the idiocy.
it amazes me how those at the top seem to wear little of the blame.
it amazes me how those at the top seem to wear little of the blame.
- Joined
- 8 June 2008
- Posts
- 12,426
- Reactions
- 18,089
I would have thought you would have been lucky yesterday as I expected the worse for the SP but Rio shot up...
I do not complain as I had just bought a small parcel just before the announcement as part of my medium term trading (eyeing the 80$ a share target)
Wait and see
Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
- Posts
- 13,346
- Reactions
- 9,456
Good buy, qldfrog.
I'm waiting for a retracement to $60 or a decisive move beyond $70 to add to my holdings in RIO.
As soon as I heard Albanese was given the boot, I thought the sp would go up.
gg
- Joined
- 1 October 2008
- Posts
- 3,733
- Reactions
- 391
When a stock flushes the toilet it's often a turn around moment, although, that really did happen a bit further back.
This was like clearing the gravitation field as far as my ride is concerned.
If we do get an unlikely pull back, I probably will buy more.
What a total idiot that guy was.
Some of these OS knobs are simply unbearable to watch.
I really like Sam Walsh even though he was there throughout, it's hard to shoot the captain and sometimes none of your business, so he should be given a clean chance and that's what seems to have occurred.
One good thing they all did was stop the China bid, skillfully!
This was like clearing the gravitation field as far as my ride is concerned.
If we do get an unlikely pull back, I probably will buy more.
What a total idiot that guy was.
Some of these OS knobs are simply unbearable to watch.
I really like Sam Walsh even though he was there throughout, it's hard to shoot the captain and sometimes none of your business, so he should be given a clean chance and that's what seems to have occurred.
One good thing they all did was stop the China bid, skillfully!
- Joined
- 13 January 2011
- Posts
- 372
- Reactions
- 16
The big man's reporting in tomorrow, will be interesting to see if the interplay between profits and MRRT will be of any weight..wonder if Rudd will give another comment....
Anyway, with the resources rebound I don't think there should be any nasty surprises.
Anyway, with the resources rebound I don't think there should be any nasty surprises.
- Joined
- 13 January 2011
- Posts
- 372
- Reactions
- 16
First ever loss at $ 2.9b due to big write-downs. Underlying earnings at 9.3billion with a 15% increase in dividends Tax credits helped cushion it, lol. Not too bad in my opinion. Good have been worse, really. Other holders thoughts?
Tax credits helped cushion it, lol. Not too bad in my opinion. Good have been worse, really. Other holders thoughts?
