Stock Market | PUNT ROAD END | Richmond Tigers Forum
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Stock Market

U2Tigers

Tiger Legend
Nov 10, 2005
7,167
0
Adelaide
Tigers of Old said:
Local market fell 7% today. :eek:

Wild times indeed for share investors.

how many inevitable suicides have occurred so far - crashes like this always claim some victims.
 

ROLLS ROYCE

once a tiger, always a tiger
Oct 6, 2007
1,902
0
mackay, qld
Look on the bright side....anyone with any cash should be stumping up on Rio and BHP as their dividends will be great now the aussie dollar has fallen as all their coal tonnage contracts with china were payable in us dollars. ie: say the agreed rate was $400US a tonne...we were almost on parity with us dollar a few months ago but now the $400US a tonne will net rio or bhp about $600 australian per tonne.

Of course yours truly is in the majority and reeling from margin calls etc (not to mention one who bought rio at around the $100 mark, refused to sell when it peaked around the $140 mark for a period and is now hiding with his head between his legs.)
 

mld

hi
Apr 1, 2006
9,643
1
Melbs
mexican_radio said:
is it though? Nobody really knows where this could all end. We are in uncharted waters.

Depends what you want to buy. It would be smart to buy Australian banks and stable exporters (as has been pointed out, miners such as Rio and BHP). Of course the market may slide further, but generally once the market recovers, it is too late for bargains.
 

Liverpool

How did that Julia and Kevin thing work out? :)
Jan 24, 2005
9,054
1
Melbourne
mld said:
Depends what you want to buy. It would be smart to buy Australian banks and stable exporters (as has been pointed out, miners such as Rio and BHP). Of course the market may slide further, but generally once the market recovers, it is too late for bargains.

That's exactly what I reckon too.
Even if you take a short-term loss, you would hope and think that once the market recovers that these blue-chip companies would rise again for a period enough for you to make up that early shortfall and then start growing.
I would have thought that BHP/Rio would be in prime position considering that the likes of China allo of a sudden haven't stopped their demand...and while demand is there, then business will grow again once the overall market recovers somewhat.
 

barty boy

Tiger Matchwinner
Oct 16, 2006
734
0
late last night i was listening to the BBC and a report came out that China has let it be known that in 2009 it will cut back on iron ore orders.Apparently this was conveyed to not only Australia but a number of other producers.
 

Liverpool

How did that Julia and Kevin thing work out? :)
Jan 24, 2005
9,054
1
Melbourne
barty boy said:
late last night i was listening to the BBC and a report came out that China has let it be known that in 2009 it will cut back on iron ore orders.Apparently this was conveyed to not only Australia but a number of other producers.

And I heard that BHP have long term contracts and that should mean they will make a fair bit of money even with the current situation in the market and that China is going to grow even more in 2009....so who do you believe? ???
 

Liverpool

How did that Julia and Kevin thing work out? :)
Jan 24, 2005
9,054
1
Melbourne
barty boy said:
I'll toss you for it Liverpool...lol

:hihi.....I'll buy your BHP stocks for 1 cent each seeing the Chinese are on the go slow next year....deal? 8)
 

mb64

Tiger Legend
Jul 26, 2004
29,650
80
Melbourne
mld said:
Depends what you want to buy. It would be smart to buy Australian banks and stable exporters (as has been pointed out, miners such as Rio and BHP). Of course the market may slide further, but generally once the market recovers, it is too late for bargains.
Spot on
 

mexican_radio

get the BBQ going
Feb 12, 2005
3,404
448
South of the Border
I don't disagree with the "get 'em while they are cheap" thinking. I just suggest that the situation is so drastic it can't be compared to anything we have seen before. Lessons from the past may not apply because we are facing something completely new. The complete breakdown of the western world's financial systems may be taking place in our lifetimes.
 

mb64

Tiger Legend
Jul 26, 2004
29,650
80
Melbourne
mexican_radio said:
I don't disagree with the "get 'em while they are cheap" thinking. I just suggest that the situation is so drastic it can't be compared to anything we have seen before. Lessons from the past may not apply because we are facing something completely new. The complete breakdown of the western world's financial systems may be taking place in our lifetimes.
The market has always recovered & will again.
 

mexican_radio

get the BBQ going
Feb 12, 2005
3,404
448
South of the Border
mb64 said:
The market has always recovered & will again.
I really hope your confidence will be a typical sentiment, that would make a huge difference.
edit: I hope that doesn't sound sarcastic, it's not at all. I am fairly convinced that confidence is a key factor here.
 

mb64

Tiger Legend
Jul 26, 2004
29,650
80
Melbourne
Finally a good day on the stock market with the all ords up by 200 pts.Howing the dow can finally have a positive result tonight.