SGB - Any reason why its plummeted so much lately?

WOW...

Has anyone noticed the 'investments' others are making around here?? I mean there is almost 'day trading' in stocks that have dropped 70%+... Yeah you have this one right (at the moment.. Still believe we don't know all information relating to Centro) but this is pure gambling IMHO...

Some parts of this site are sounding more and more like 'hotcopper' by the day.... Sounds like the bubble & froth of a topping market

Good luck and happy investing...

 

Yeah, but you don't necessarily know the proportion of these trades compared to other investments.

If you're spending $1,600 (as above) as a gamble on CER, but you've got a total portfolio of growth assets worth $500,000 then who cares - it's chump change.

Some people invest a small part of their portfolio in high risk managed funds - some may try their hand at trading.

 

I was more interested in the general feeling i am getting reading posts here and on other forums.. Also the papers, email newsletters etc. They seem to be getting a little bit irrational(read herd mentality)...

I agree an amount of 'high risk' money could be part of an active portfolio... I still believe a CNP trade is a pure gamble and not investing...

Unless you have researched the company, its position, financial issues, future etc etc...

Hey if its working then good luck...

Yes i am a bear... But i am also actively trading the short term trends... I use Technical analysis..

 

Give me some technical analysis dave..

I'm just trying to build up a good foundation for my portfolio before going into the shorter term things.

I've decided to put in an order for SGB @ 32.400, hopefully I'll get in, by the looks of it Centro have started to recover from what happened, hopefully SGB will follow.

 

Money Begets Money



I was talking to a work colleague yesterday who’s semi retired and plays with the share market and he told me of a relation of his who has a few dollar$; apparently the relation put $100,000 into Centro after its recent fall and picked them up at around $0.42

Sold a day later for around $1.40 or so

Nice….

But also reminded me that Money Begets Money, after all who has a spare $100k around that you wish to gamble with (not this little black duck anyhow).

I guess its all relative and on a scale of where you currently sit with you Net Worth and confidence/skill, The above story beggars belief for me, but on “our scale” a recent punt on FMG some time back has certainly been worthwhile.

 

Ahh not in the market for punting just yet.

For now just looking at picking up blue chips at the best possible price I can, and set a good foundation for myself.

I bought in on SGB at 32.400, but that day it dropped as low as 32.140 or something.

Can't complain, I basiclaly got in at what SGB was worth 12 months ago, so I'm still happy, just need to wait for it to recover now, I was thinking that as CER recovered so would SGB, but I guess the market doesn't always react how you would expect it to, if it did, then i'm sure there'd be a few more happy faces.

Edit: Just had a look at SGB now, and its at 31.610, looks like I should have waited it out, heh.

 

Ok, this is a little weird... SGB just continues to keep dropping, how come?

Its down to 31.200 at the moment, and by the looks of things I think it might even drop down to the 30.000 mark...

Originally people were saying it was because of CER, but they've seemed to make a recovery from things, I thought SGB would follow suite, but hasn't...

CER is gradually dropping back down no, so I guess that could explain some of SGB's downfall, but are there any other reasons why...?

 

Look at the large picture. Its not just SGP going wrong...

Seems to me like your not taking the long term plan you once dicussed...

What justification do you have for saying
"I think it might even drop down to the 30.000 mark..."

Who says it cant rebound now to $35???

Take the good times with the bad. Its just maybe you have missed out on most of the good times.

 

I'm not necessarily fussed by the drop, I am looking at the long term, although as I said before, in time I'd like to have a stab at some more short term trading, which is why I'd like to sorta understand the market a little bit, thus my curiosity.

And as far as my 'justification' for saying it may drop to the 30.000 mark, I was merely stating my opinion, however my justification would be that SGB has continued to drop significantly over the last couple of weeks, which to my knowledge had a lot to do with CER, and now since CER is back on the down, I'm thinking SGB will follow suite.

 

Does this help

Does this help explain anything??

$1bn hit to banks from US | The Australian

 

Good to see St George are not part of the party that laid down millions to the stupid idiots at Country Wide.

I can't work out why the big 4 put up 1 billion for Country Wide? WHY WHY WHY

 

Centro?

Did someone mention Centro ?. Forget it.

A month from now (Feb 2008) Centro as an entity will be in the grave yard with One tel, Pasminco, and other such companies ruined by stupid CEO's (and compliant Directors).

And to think that the majority of shareholders (eg the institutions) voted overwhelmingly to increase the centro directors remuneration to $2.2m at the 2007 AGM.

The liquidators will be the only ones to get anything out of Centro from hereon in.

Tony

 

Talking about the big 4 banks and their 1 billion rescue package to Country Wide. Bank of America announced they will be buying Country Wide.

Hopefully our big 4 get thier money back and drop the rate increases

Not likely