sharemarket discussion thread (2 Viewers)

[stazi]

massive rally in the last hour.

wtf caused it?

 

[blue_chameleon]

wtf caused it?

That's pretty impressive, whatever the cause.

Over 100 points, in less than 45 minutes. BUYBUYBUYBUYBUYBUYBUY!!!!

 

[Dumsum]

Bargain hunters

 

[jono1887]

to bad for u guys chasing rio last week eh, considering its lost 35% in a day this week!

 

[ziki]

Rio failed it was like 156 in feb/march now only like 45? 46?

 

[jono1887]

haha, bought RIO for 36 today....

 

[blue_chameleon]

haha, bought RIO for 36 today....

That looked like a good price to me too, so I followed it today too. As at 1:20pm, RIO was trading at 33.20.

There goes 10%.

http://hfgapps.hubb.com/asxtools/imageChart.axd?BI=2&COMT=index&OVS=XJO&TF=D6&TIMA1=20&TIMA2=20&s=RIO

Where's the bottom though?

 

[jono1887]

yeh, seems like ive just lost out on 10%...damn

 

[blue_chameleon]

yeh, seems like ive just lost out on 10%...damn

If you don't mind me asking, how much did you outlay on RIO?

If it's anything substantial, and you can manage without the cash, then even at the price you bought in at, you should hold for the long term.

One of the company-specific issues with RIO, with the way things are currently (ie. recession fears) is their high debt levels.

Seems B&B had a good day today.

 

[blue_chameleon]

At 11:45am RIO is down another $2 to $30.37.

At the height of the gap, the difference in share price between RIO and BHP was $106. Now it's like $5.

If it doesn't bounce tomorrow, i'm buying.

 

[stazi]

yeah i bought into rio at around $30.

 

[blue_chameleon]

yeah i bought into rio at around $30.

I don't see that they'll have any major issues with refinancing.

Even with falling commodity prices factored in, at $30 a share, there'd have to be analysts out there with a BUY position for RIO. Who knows though?

Staz, are you trading through E-Trade?

Lol, checkout the volume traded towards end of Nov and into Dec compared with earlier in the year.

 

[stazi]

yeah i am with etrade. just gambling with smaller amounts to maximise that free brokerage offer

 

[blue_chameleon]

yeah i am with etrade. just gambling with smaller amounts to maximise that free brokerage offer

The free brokerage is with E-Trade Pro trial, right? 10+ transactions in the month?

I just realised they have a minimum of $500 on buy orders and funds from Bankwest take I think 2 days to transfer. Damn, by Monday they'll probably be up around $35 - $36 again.

Still could be a good buy even at those prices though.

 

[stazi]

nah some NRMGAY offer. RIO already up $30 (6.5% as i only put in $500, but still good)

 

[jono1887]

i put in around 6k in RIO, I bailed out at around 34.50 to cut my losses as I was going overseas and had no net access... didnt matter as I made up those loses in MQG