This Week's Action 29 Nov - 03 Dec 2010

[golden]

The two Koreas could make a train wreck of the ASX

Take it easy out there guys


g

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[worm]

Jeez its tough finding stocks in this market. I made $33 on ANG and $75 on SEH!
CBA is close to my stop, if that hits ill have lost the lot haha

[craig]

We're at an interesting juncture if you snap a few lines on the XJO...

Cheers
Craig

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[r2d2]

Dec 1, 2010 17:55:31 GMT 10 worm said:

Jeez its tough finding stocks in this market. I made $33 on ANG and $75 on SEH!
CBA is close to my stop, if that hits ill have lost the lot haha

You MADE money

[golden]

I'll add another one craig!


g

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[fastoy]

Index followers have been all at sea for some time now. I suspect that some funds may actually have been selling the biggest stocks to fund forays in to other places. The real action has been in selected mining stocks.

Gold and iron ore is where the action has been and still is. Basically the places to be is what China wants and is buying.

I've been negative on the banks for a long time and still am. What is going to drive them higher? Their bloated management is incapable of any kind of innovation, and simply have no idea about turning economic weakness in to an advantage. The best they can do is make a huge fuss about dropping fees that should never have been there in the first place. Hopeless.

[r2d2]

Dec 1, 2010 18:49:17 GMT 10 r2d2 said:

Dec 1, 2010 17:55:31 GMT 10 worm said:

Jeez its tough finding stocks in this market. I made $33 on ANG and $75 on SEH!
CBA is close to my stop, if that hits ill have lost the lot haha

You MADE money

If you're still in your CBA worm, you're looking good today !

[worm]

Yeah still in.
Im actually quite shocked our market has gone up so much. Over the last few weeks the US have had some very good days and our market has been very flat. I thought today would be the same.

[r2d2]

Dec 2, 2010 13:26:26 GMT 10 worm said:

Yeah still in.
Im actually quite shocked our market has gone up so much. Over the last few weeks the US have had some very good days and our market has been very flat. I thought today would be the same.

I reckon we are long overdue for some catch-up....may it continue strongly and help maintain December's record as one of the best trading months.

[fastoy]

I've been very selectively positive for months, and see no reason to change.

I have no interest in retailers, banks, or any of the big industrials, but if its in anything that China is buying, I'm in that as far as I can be.

There is talk today of a a squeeze being set up on the LME exchange. The source is good, so it would not surprise me to see continued strength in base metals. And several organisations are predicting firming iron ore spot prices.

[worm]

Thanks FT, Ill have a look about some other sectors. Banks are driving me nuts.

SEH is having alot of good results but not alot of action. I have a small parcel just in case.

[craig]

Bought and sold SEH today (for a loss!) - Couldn't crack that 7.5c res.


Craig

PS. AGO looking good with a nice break of resistance yesterday....

[garry]

Dec 3, 2010 11:03:39 GMT 10 worm said:

Thanks FT, Ill have a look about some other sectors. Banks are driving me nuts.

SEH is having alot of good results but not alot of action. I have a small parcel just in case.

Right or wrong, I bailed out of SEH on their latest news. Figuring that winter is going to slow drilling and assessment practices fairly rapidly from now on. Thinking a bit more than 40% profit locked in was enough for less than two months of hold.

Though as I understand it the company is due for a roadshow soon .. so yes, there could be some more legs in it. Nonetheless, they might be doing it to raise some cash for production purposes. That is, exploration drilling expenses are one thing, whereas expenses related to physical production are another