stock market correction (2 Viewers)

[Omnidragon]

Citi still have $122 target on mbl (what are they smoking?) and deutsche ~$100 iirc.

Here's an interesting read.

http://www.theage.com.au/news/busin...s-expert-advice/2007/08/18/1186857835939.html

My father's wealth managers are one of the US banks. I read their recommendations all the time and in retrospect, they give some pretty ordinary advice. I think they have a tendency to not pick the obvious stocks as well - I guess they try to be special.

I remember so many times when they my father to sell a company (which they told us to buy at, for example, $7) when it was $4, only to see it go up to $8 in half a year. The only ones who win in the long-run are them, as they extract these ridiculous fees for every buy or sell order.

Maybe I'm taking away too much credit because they do make some nice picks such as JB Hi-Fi. But then again, heaps of people picked it and you probably would have achieved returns just as good in the past 3 years if you picked something else.

 

[Turner]

for the MBL bitches, expect it to reach 57ish. if that doesn't hold 50 is next.

So how did your massive short position on MBL go on monday? Or did you not

put your money where you mouth is.

 

[pete_mate]

GSJBwere analyst report on monday, (yes, after the rate cut)

Hold w/ 12 month price target of $81.20

"With the potential for significant earnings reductions, the share price has yet to fully price this in, we recommend not to buy MBL at this point."

i agree

Citi are probably mates with mac bankers with lots of money in MBL.

omnidragon, not all analysts can be right, but i think some are better than others. GSJBwere were SELL $5 on PDN when it was at $9 5 months ago. At the same time MBL and others were BUY $10 or something ridiculous.

Now look at the price.

 

[Omnidragon]

Sure, the guys my old man goes to picks some good things too and overall they've made money for him. What I really meant was some random could probably replicate their returns and choices.

 

[mohamed100]

Watch out for iron ore junior GBG. Showed some resilience today in light of the downturn. Big announcement expected for next week.

 

[mohamed100]

GBG up to 1.70 at 2pm from yesterdays close of 1.40. It reached 1.80 at one stage. Scary thing is, its flying on the back of no news.

 

[mohamed100]

Code Last % Chg Bid Offer Open High Low Vol
GBG 1.670 18.02% 2.010 1.670 1.530 1.795 1.510 13,263,948


Trading Halt announced. They should be preparing for that big announcement. LOL look at the bid! $2! Good thing I got in early!

 

[geetarjoe]

Code Last % Chg Bid Offer Open High Low Vol
GBG 1.670 18.02% 2.010 1.670 1.530 1.795 1.510 13,263,948


Trading Halt announced. They should be preparing for that big announcement. LOL look at the bid! $2! Good thing I got in early!

What's your tip for the BFS release date?

The company said it would be in August...tomorrow is August 31.

Hope its something big, not just a fizzer.

 

[mohamed100]

What's your tip for the BFS release date?

The company said it would be in August...tomorrow is August 31.

Hope its something big, not just a fizzer.

well, ive attached the trading halt announcement, where they allude to the BFS.

I dont think i can pin i tdown to a specific day though

 

[geetarjoe]

well, ive attached the trading halt announcement, where they allude to the BFS.

I dont think i can pin i tdown to a specific day though

I didn't expect you to. The only reason I'm thinking they're about to release the BFS is because they've said previously it would be out in August, and tomorrow is the last day of August.

 

[Rorix]

Don't count on that sort of logic. Micros usually don't release annoucements to say something's going to be later than expected..

 

[pete_mate]

GBG up to 1.70 at 2pm from yesterdays close of 1.40. It reached 1.80 at one stage. Scary thing is, its flying on the back of no news.

wow! it's clearly a pump and dump.

 

[onebytwo]

wow! it's clearly a pump and dump.

yeah, there was obviously some sort of leaked info. I mean, the day before no body dared venture into the highs of the company, then suddenly the next day people are buying up for $1.79 with the company making no news public. Very sus.

Looks like a good stock, though. Check out its cousins MMX, GWR, MIS, MGX.

apparently, they are forming some sort of alliance. somebody mentioned a brokerage group valued MMX at $9, twice what it is now.

In this sort of market, iron ore is the way to go, imo.

 

[redruM]

lol @ your av + post combination.

 

[onebytwo]

lol @ your av + post combination.

weird, hey?

 

[mohamed100]

GBG has announced a trading halt for the second time this week.

Bids are now at $2.30, with yesterday's close being $1.80.

Has to make you wonder, is some takeover bid going to be announced, considering GWR is being looked at by Fairstar.

GBG will reach $3.00 by the new year, in my opinion.

 

[velox]

lolz at dow today, took a 50ish point profit. Anyone a believer in elliot wave theory?

 

[mohamed100]

HI

GBG and SDL are to merge.

This news saw SDL jump and GBG drop since part of the deal was that SDL holders will get 1 GBG share for every 2 of their SDL shares. So I guess it makes sense that SDL is now $0.80 and GBG at $1.60.

Im looking to re-enter maybe in the next 2 or 3 weeks.

 

[Omnidragon]

I don't know anything about GBG, but SDL's Cameroon was always going to be a goldmine with heaps of unproven potential. So what is GBG bringing to the table?

Also, I think it was ML that valued MMX at $9. But geez... half the company for some money for infrastructure. Then again I wouldn't know, but it sure sounds expensive infrastructure.

 

[pete_mate]

I don't know anything about GBG, but SDL's Cameroon was always going to be a goldmine with heaps of unproven potential. So what is GBG bringing to the table?

Also, I think it was ML that valued MMX at $9. But geez... half the company for some money for infrastructure. Then again I wouldn't know, but it sure sounds expensive infrastructure.

Some people in industry view junior minerals explorers in the same light as the IT startups of the tech-boom. I'd be wary with these small companies.

I'm more a fan of explorer/producers, because they have a proven track record and have an income stream its not pure speculation.

PNA comes to mind, i was so close to buying at $.60 now at .80, 33%. but hell, BHP's done that over the same 1 month period.

With this GBG its declined, with greater risk... where's the logic?