getting a bit echoic around here....
its lonely being a trader huh.
Printable View
getting a bit echoic around here....
its lonely being a trader huh.
.
That Belly Button fluff gets everywhere.:)
.
'Duriig the month of October 1909, in 25 market days, Mr Gann made 286 trades in various stocks, both long and short trades. Of these trades, 264 wcre protitable and 22
were losses. Thc capital with which he operated was doubled ten times, so that at the end of the month he had one t housand percent of his original margin.'
W.D must have been working very hard without a computer to analyse the markets and make that number of trades.
Worth it though!
Maybe it was easier then.
Now, everyone has a computer and can gain access to the market.
1000's of guru's etc, spreading their thoughts and recommendations
in a fraction of a second.
All Gann had to do was
Pick up the daily paper. Transfer prices to hand drawn chart.
Make a decision based on his system and place a trade with the broker.
Very few had this knowledge or even time to perform the task.
So it gave him a unique opportunity to play the market when 99%
of the populace were more concerned about making a crust.
Gann, Alan Andrews, Babson, etc - they found the secret/s and milked
it while it was limited knowledge.
Now everyone thinks they can be a guru - but only 5% can
.
ANZ have just offered to put my CC limit up from 17500 to 20000
:rolleyes:
couldnt resist this quote
ANZ is NZ's worst bank IMO. Great pity they own National Bank now.
One of the many run in's I've had over my CC account.
My ANZ CC bill was due on 24th Dec, so I transferred it on that day.
The money disappeared out of my account at NB that evening
and into ANZ somewhere.
Next CC bill from ANZ came and they had slapped over $350 interest on my account. When I rang they said it was because of 25th/26th Dec they couldn't see the money until 27th.
Right - you can imagine what I said.
Firstly they offered to reduce the interest by 50%.
I used my usual tack - "let me speak to your superior'. Yeah I'm a very PC person :D
Eventually the whole amount was deducted. But it took three months to eventually get all the charges removed, as they charge interest on interest on interest ad infinitum.
what a hassle.
I generally transfer bill payments across a day or even two earlier esp if theres some sort of penalty or discount. But it is truly fascinating in this electronic age that it only seems to be immediate if your debiting it and a day or two the other way.
Back to the start
--------------------------------------------------------------------------------
Friday, 27 February 2009
Kate Haycock
DESPITE a week of up and downs and yet more Chinese plays, the market and resource stocks all seemed to end up back where they started from.
The benchmark ASX S&P-200 started at 3351 points and closed today at 3328.3 points.
BHP Billiton started the week at $29.31 and closed at $28.83, up 23c or 0.8% from yesterday, while Rio Tinto opened at $46.87 on Monday then closed today at $47.25, up 2% or 95c from yesterday.
On Monday, Fortescue Metals Group was at $2.83 and in a trading halt, by Friday close it was trading at $2.65, up 9c, and the company was (potentially) half a billion dollars richer thanks to the sale of a 16.5% stake to Chinese company Hunan Valin Iron and Steel.
The relative lack of movement came despite a small rally in metals prices on the London Metal Exchange and the growing tide of Chinese buying into the sector.
Copper was one of the best performers over the past week, rising sharply from a low of $US3115.25 a tonne to $3471/t in Thursday night’s session – an overall jump of 11%.
After hitting a new low of $9420/t last week, nickel also lifted to $9998/t, a 6% rise, before backsliding last night to $9980/t.
Zinc likewise rallied from $1072.50/t on Monday to $1121.50/t on Wednesday before trailing off last night to $1113/t.
Meanwhile, spot gold was last trading at around $938/oz after a week headed in the other direction.
Gold’s falls were due to a rally in equities and some hope that there could be an economic recovery somewhere around the corner, but analysts expect the precious metal to remain at historically high levels for the time being.
Gold stocks were, unsurprisingly, given a bit of a hard time in the wake of the precious metal’s falls, bucking the flat trend.
Newcrest shed 98c to $30.98, while Lihir Gold slipped 3c to $3.30.
Other notable movers of the day included OZ Minerals, which today released its half-yearly results.
While the company reported a very nasty $2.5-billion loss, its shares closed up ,7c to 63c, on the back of news it had secured an extension to its onerous loan repayments.
The day’s biggest gainer was Gloucester Coal up $1.01 to $4.91 after Hong Kong metals trader Noble Group swooped in with a $390-million cash bid for the company in an attempt to forestall its merger with Whitehaven Coal.
Whitehaven fell 3c to $1.60.
Coal has proven an exciting sector of late in the mergers and acquisitions area, and Felix Resources today said it was still in takeover talks – although it warned the likelihood of any outcomes in the near term were slim to none.
Its shares rose 16c to $6.82 on the back of a solid profit report.
Back to the day’s biggest movers – Icon Resources was up 2c to 7c, a 40% gain on four transactions of 116,650 shares.
Herald Resources shed a nasty 44c to 15c on only three small trades with only 2762 shares changing hands.
Finally, there were 207 stocks on Final Call’s watchlist that have not reported any trades for one or more days, with the longest non-suspended stock being untraded for 225 days.
http://www.miningnewspremium.net
Mortgage rate cuts to give us back $10b
By ROB STOCK - Sunday Star Times | Sunday, 01 March 2009Kiwi families will have a collective $10 billion more in their back pockets over the next three years as a result of plummeting mortgage costs, injecting even more spare cash into the economy than next month's tax cuts.
The April 1 tax cuts, plus last year's cuts, will return around $9b to salary and wage earners.
The $10b mortgage estimate comes from Westpac. The bank analysed the country's entire mortgage debt and found that $98.47b in fixed-rate home loans - with an average interest rate of 8.51% - will mature by the end of 2010. If those loans are refixed at an average of 6%, the homeowners will face much lower mortgage repayments. Add in the effect of falling floating-rate loans and there will be an estimated $3.5b a year for three years freed up.
The figure could be even higher if interest rates continue to fall meaning families would save even more.
Full article from Stuff.co.nz