Taking profits or holding

[nizar]

Nizar, do you think he Zinc stocks will rebound, and if so will you be ready to buy them?

Yes i think they will rebound in due time.
I will only buy on the way up, when the momentum is clearly upwards. I wont try to catch a falling knife or pick a bottom coz ill most likely get it wrong. I prefer averaging up rather than averaging down. I would expect zinc spot to bounce off us$1.80/lb.

Sitting on us$1.91/lb now down about 3%.

 

[Buster]

I am actually surprised that the correction has not been stronger after the annoucement of the rate increase and the democrat win in the US plus commodities drop that is normally a trifecta of event which could have create a mini crack in my opinion

Nah.. I think both results were a given. Certainly every analyst who got airtime was calling the rate rise, and for some time..

Same with Bush losing his hold.. the amount of Bush bashing that's been going on (again for some time, like almost since he was re elected.. ) pretty much indicated his party was going to lose (loose for those on the spelling thread.. ) control of the senate..

Just my ..

Cheers,

Buster

 

[Ken]

i think everyone feels it when bhp drops. because most people see that as the bench mark... it has driven the market along. and aas it has not performed for past 6 months... questions are being asked.

 

[Kremmen]

Wait a second. Are you telling me that every gain from stocks is taxed 50%?

Don't worry, he's not saying that. The scenario is probably assuming that most people buying and selling $100k worth of stock at a time will be in the top marginal tax bracket anyhow, and therefore will be taxed at about the 50% level. (or half that if you've held the stock for over 12 months)