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     chingas
Member
Username: chingas
Post Number: 610
Registered: 06-2007
Rating: N/A
Votes: 0
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| | Wednesday, February 20, 2008 - 06:45 pm: | 
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Nice work on the poker jax, i can't afford to play atm lol
This market is giving me the turds, dow goes down by 0.1% and we drop by 2% - and this is all while our companies report record profits left and centre(the right ones being the miners which do seem to be struggling a little). It really does make you think the rumour of hedge funds colluding to push shares to artificially low levels has a some substance to it
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aussiebuggaa
Member
Username: aussiebuggaa
Post Number: 591
Registered: 07-2007Rating: N/A
Votes: 0
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| | Wednesday, February 20, 2008 - 09:09 pm: |
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Although DOW closes down only 0.1%, it lost like 100 points from the opening gap, s&p futures was down more than 20+ points as everyone was dumping.
Here is another reason why the market got crushed today.
"- The Bank of Japan board members are pessimistic about the global economy, noting that uncertainties are rising as the U.S. economy slows, minutes of a Jan. 21-22 meeting showed. The BoJ''s nine- member board voted unanimously to keep its key overnight call rate target at 0.5 percent at the meeting. Board members said international financial markets continued to be unstable, and many said they remained concerned about additional losses at U.S. and European financial institutions and were watching how the banks would improve their capital positions. However, the board members maintained that the positive economic cycle of production, income and spending was intact in Japan, and they still saw exports rising. One member said there was a possibility that inflation would rise more than expected if consumers'' inflation expectations rose. "The board members seemed to be more aware than before of downside risks from the U.S. economic slowdown, but not to the extent of altering the BoJ''s main economic scenario," said Hirokata Kusaba, senior economist at Mizuho Research Institute. "
source: www.tradethenews.com (news subscription, no full link).
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ecchigaijin
Member
Username: ecchigaijin
Post Number: 711
Registered: 07-2007Rating: N/A
Votes: 0
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| | Wednesday, February 20, 2008 - 11:16 pm: |
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"Former Coffs Harbour mortgage broker jailed
Monday 18 February 2008
Mr Dominic Cincotta, a former Coffs Harbour mortgage broker, has been sentenced in the Downing Centre District Court to five years in prison after pleading guilty to seven fraud charges brought by ASIC. Mr Cincotta will serve a minimum of three years in prison.
Mr Cincotta was charged with dishonestly obtaining a financial advantage in relation to funds totalling $5.8 million. A further four charges in relation to $690,000, including one of fraudulent misappropriation, were taken into account on sentencing.
The charges relate to funds invested by nine of Mr Cincotta’s former clients who were located in Sydney and Coffs Harbour.
Between November 1998 and December 2004, Mr Cincotta falsely represented to a number of clients that he would arrange investments with Perpetual Trustees Australia Limited in accounts such as a Mortgage Offset Account, Bricks and Mortar Fund, Fixed Mortgage Investment Account or Investment Deposit Account, earning interest at rates between 6.75 per cent and 10.75 per cent per annum.
The funds were, in fact, deposited to accounts controlled by Mr Cincotta, including a Perpetual Investment Management Limited Cash Management account in the name of his wife, and a St George Bank account in the name of his company ACN 067 567 702 Pty Ltd. Mr Cincotta then used the funds for his own purposes.
‘When people invest their funds, they place a high degree of trust in the organisation or individual that facilitates the process. As this outcome shows, those who abuse that trust by deliberately misleading their clients, face serious consequences’, Ms Jan Redfern, ASIC’s Executive Director of Enforcement said."
The ironic part is that given the market recently, these investors probably would have lost their money anyway.
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chingas
Member
Username: chingas
Post Number: 611
Registered: 06-2007
Rating: N/A
Votes: 0
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| | Thursday, February 21, 2008 - 10:21 am: |
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So if I'm reading their report right, BNB profit up 58%!!! How the hell can their share price be less than half its peak with results like this? Doesn't make sense
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ecchigaijin
Member
Username: ecchigaijin
Post Number: 712
Registered: 07-2007Rating: N/A
Votes: 0
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| | Thursday, February 21, 2008 - 10:50 am: |
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some reading on interest rates and the economy in general
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ecchigaijin
Member
Username: ecchigaijin
Post Number: 713
Registered: 07-2007Rating: N/A
Votes: 0
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| | Thursday, February 21, 2008 - 11:26 am: |
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Keep an eye on CBH, they are in merger talks at the moment.
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ecchigaijin
Member
Username: ecchigaijin
Post Number: 714
Registered: 07-2007Rating: N/A
Votes: 0
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| | Thursday, February 21, 2008 - 02:34 pm: |
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GDI Chris!!!! I went to put in a buy for BNB @ 15.95 after your post. Then I looked at my watchlist and thought I might be able to play FDL a little today and cancelled the BNB buy. SLAP ME WILL YA?????
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eallthewayhome
Member
Username: eallthewayhome
Post Number: 388
Registered: 07-2007
Rating: N/A
Votes: 0
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| | Thursday, February 21, 2008 - 03:21 pm: |
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good day trading anz atm, bouncing in regular pattern down down up down down up down down up pmsl lol you get the picture
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chingas
Member
Username: chingas
Post Number: 612
Registered: 06-2007
Rating: N/A
Votes: 0
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| | Thursday, February 21, 2008 - 04:21 pm: |
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yeah i thought it would run, analysts were predicting 45% profit and they have a good history for beating predictions, just didn't have the guts to play
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jax
Member
Username: jax
Post Number: 1532
Registered: 07-2007Rating: N/A
Votes: 0
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| | Thursday, February 21, 2008 - 04:55 pm: |
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they told the market 58% RISE A FEW MONTHS BACK CHRIS
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chingas
Member
Username: chingas
Post Number: 613
Registered: 06-2007
Rating: N/A
Votes: 0
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| | Thursday, February 21, 2008 - 05:16 pm: |
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hmmmm, I just read the etrade's huntleys recommendation(I would have looked more closely if I was going to buy) don't tell e about that one
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jax
Member
Username: jax
Post Number: 1533
Registered: 07-2007Rating: N/A
Votes: 0
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| | Thursday, February 21, 2008 - 05:34 pm: |
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dont worry about e ,he is off drinking my jd that he owes me lol. bad payer that e .
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aussiebuggaa
Member
Username: aussiebuggaa
Post Number: 592
Registered: 07-2007Rating: N/A
Votes: 0
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| | Thursday, February 21, 2008 - 05:52 pm: |
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"yeah i thought it would run, analysts were predicting 45% profit and they have a good history for beating predictions, just didn't have the guts to play"
I think I got the picture clean and clear….
Short the sucker every time it pokes its head above ground!!! LOL j/k.
Actually this might be strange coming from me but at these bargain prices, I’m also looking to load up big on a few stocks for LONG TERM investment (3-5years). Might have to study how to get setup on a margin loan now….
Check out the fundamental on some of the stocks, they are dirt cheap. MQG’s PE is under 8!!!! Big 4 banks although having dropped quit a distance from their top flight but they’re still at around 11PE – compare it with the global banking sector average, hmm hmm..(does any one know what it is?).
The question is how much growth do they have left as this determines the potential prices. The housing boom is now looking so doom. Lending will be tougher as there are constantly growing numbers of smaller competitors in this arena.
US will keep pumping out bad news into the market. As the prices drops, FED will put on its savior shoes and cuts more rates. Following the Japanese model with a HUGE difference being the debt level! Japan is taking interest rate to ground zero with no debt while the American is following the Japanese foot step blindly without realizing that their debts can not be paid off even in the next Century.
Back to the question!! Where can we find value stocks in this severe market??
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captain_chaza
Member
Username: captain_chaza
Post Number: 3027
Registered: 02-2003Rating: N/A
Votes: 0
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| | Thursday, February 21, 2008 - 06:06 pm: |
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G'Day Junkyard Jax
How 'ya hang'n?
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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jax
Member
Username: jax
Post Number: 1534
Registered: 07-2007Rating: N/A
Votes: 0
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