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http://www.sharescene.com/html/emoticons/unsure.gif Does anyone else notice that there is very little going on today? Small move up on the Dow , some optimistic comments from Greenspan as he tries to ignore the monumental debt that the US is building, a weak Gold price (thats wierd) and everything on hold today. I get that eerie feeling that something is about to happen. Look at HDR, rumours of takeover at $2.50 (cheap IMO) and not a move on the stock today. All the speccies have pulled their heads in, the banks are all faltering and BHP is steady but BELOW $12.00 !

Remember, when you least expect it, expect the unexpected!!

 

I'm off to the beach.

 

Hector

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Catherine Davey's book on CFD trading is more about short term TA, rather than complete coverage of CFDs, only 1/3 of the book is on CFDs. Still, it's not a bad book, and since it's pretty much the only CFD book on the market, you really don't have any choices.

Best way to learn about CFD is to open an account with the minimum requirement and have a go yourself.

There are currently two CFD companies, igmarkets and cmcgroup, both are market makers, but I think CMC group offers better bid/ask spreads

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Hi guys, is everyone holding up ok? or anyone hurting real bad?? if you need support, let's help ok? Today has been a crazy correction but hang in there. I am holding up quite well....so keep an eye on your pain threshhold and we can provide support if anyone needs it http://www.sharescene.com/html/emoticons/lmaosmiley.gif
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Am now lamenting not taking more profits.... Have made the stupid mistake of using the "to busy" excuse to really keep a close eye on things last few weeks and its cost me quite a few pretty pennies now... sunshine comes in morning... http://www.sharescene.com/html/emoticons/sadsmiley02.gif
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hang in there, Andy, if you can be a bit patient to see how it is going and do your homework , it may be a matter of waiting for a week or so, or if you can afford to , put the stock in the bottom drawer and keep a wary eye. You never know, it may yet surprise you... hang in there buddy
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Thought I'd post this comment here to as it is relevant - was in relply to comment on fall in resources recently.

 

I used to work for Macquarie. One of the best strategies we employed was to sell what Macquarie recommended to Buy and buy what they recommended to Sell. It seemed to work well!!

Markets fell last night on a speech by Chinese leader who said they would try to curb Chinese economic growth......Think about that. First. How do you stop or slow down this absolutely massive economy? It parallels the theory that if you drove the USS Nimitz at the shore, it would take 2 miles to stop! Second. Yesterday an announcement was published that forecast growth for China in 2004 is expected to be over 8%. Australia is around 4% and struggling to achieve that. China growing at 8% per annum is a phenomenal statistic. If they manage to pull back growth to 6% per annum, do you think it would stop buying up all the iron ore and copper and nickel that it can? I think not. I think we saw a sell off last night that was corrective. I think we are more afraid of the US coming off and markets are poised at highs with noone sure of where to go from here. China will continue to consume and a speech by the Chinese leader is one that I would not put too much faith in.

Good Luck All

 

Hector

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JHX maybe worth a look as to whether you (as I do) might think that it has started a move upwards. You have to use your imagination but it broke the sharp downward trend started in Nov 2003 at the end of Jan 2004. The longer term downtrend from Oct 2003 seems to have been broken a week or so previous. A little imagination perhaps but one to watch.
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Howdy

 

 

Not too sure I agree market looks bad to terrible today. Of course it is only one day.

Market touched minor support around 3387. Big support around 3382 should hold on the day. That being said US market despite very good reports from the recent reporting season has been unable to rally. The overhang of a US rate rise has the market spooked.

Suspect until we actually see the rise the markey will stay this way and when it is actually out of the way the market peversley I think will rally. This is despite them actually raising rates. Anticipation is actually worse than the realitiy.

 

Our market today looks bad with only 3 stocks from the ASX 100 actually in the black. Of the 200 or so large cap stocks only 7 are up.

 

My view from here is that we take out the support at 3382 sometime in the next few days and try the next level around the 3330 mark sometime in the next 10 days.

 

As for all the tiny mining and bio stocks I hold little or no hope for them as a group. Companies with little or no worth and say 1 million in the bank have been driven up to market caps of 10,15 and in some cases 20 mio on the back of future earnings or hopes.

Time to bit the bullet with the fleas and sell.

 

Good luck http://www.sharescene.com/html/emoticons/rolleyes.gif

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Guys, do your research. Don't throw away the baby with the birth water. Before you exit make sure that is right and the stock is 'worthless'. I am not reccomending you keep any, but don't panic or get spooked, make sure you trade your plan and follow your exit strategy in a rational manner... good luck
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