Trading Update - 9 July, 2007
Long time since I posted, so here's an update on my July month.
Since I last posted I've become a bit better at trading, stop-losses are a must!
Current positions:
Accumulating Zinifex (ZFX) (long-term) @ support points - 18.20, 18.70, 19.10, 19.50, stops moved to $20.
Accumulating Caltex (CTX) (long-term) after its over-done drop - 23.50, 24.40, stop moved to $23.90.
Bought Oxiana (OXR) at $3.88 speculative merger with ZFX, stop at $3.66. This stock is REALLY cheap in my opinion, and if the rumors aren't true, Oxiana has a massive cash flow, low P/E ratio, and if it keeps up its profits it could surge to $7 in several months.
Speculative buying on Resmed (RMD) after it bounced off support @ 4.85, stop-loss at 4.30 (I know its big, but there is WAY more upside than downside to this stock, its bounced off everytime)
Bought MFS @ 5.77 after higher-highs from bouncing off support at 5.50, stop-loss @ 5.48.
If I had more money I would buy ANZ Bank, as I believe its new CEO can milk money for the bank because of his experience in Asia, I think ANZ is the last **good** Australian bank that is cheap and bound to take off.
I would like to buy Seek Ltd. (SEK) after it breaks over $8, this share has been consolidating for ages and is poised to rally as the Australian jobs market remains strong.
And I'm not invincible either, a summary of my losing trades: bought MacQ Infs Grp (MIG) as it held @ 3.85, stopped out at $3.58. Bought ROC Oil (ROC ) @ 3.48 after a failed breakout, stopped out at $3.28.
Other stocks I'm looking at are Boart Longyear (BLY) - I don't like small-caps much, but I believe this stock could be the next Worley Parsons. It's a cheap stock, but lets wait for its first profit report.
- Vishal Teckchandani
Since I last posted I've become a bit better at trading, stop-losses are a must!
Current positions:
Accumulating Zinifex (ZFX) (long-term) @ support points - 18.20, 18.70, 19.10, 19.50, stops moved to $20.
Accumulating Caltex (CTX) (long-term) after its over-done drop - 23.50, 24.40, stop moved to $23.90.
Bought Oxiana (OXR) at $3.88 speculative merger with ZFX, stop at $3.66. This stock is REALLY cheap in my opinion, and if the rumors aren't true, Oxiana has a massive cash flow, low P/E ratio, and if it keeps up its profits it could surge to $7 in several months.
Speculative buying on Resmed (RMD) after it bounced off support @ 4.85, stop-loss at 4.30 (I know its big, but there is WAY more upside than downside to this stock, its bounced off everytime)
Bought MFS @ 5.77 after higher-highs from bouncing off support at 5.50, stop-loss @ 5.48.
If I had more money I would buy ANZ Bank, as I believe its new CEO can milk money for the bank because of his experience in Asia, I think ANZ is the last **good** Australian bank that is cheap and bound to take off.
I would like to buy Seek Ltd. (SEK) after it breaks over $8, this share has been consolidating for ages and is poised to rally as the Australian jobs market remains strong.
And I'm not invincible either, a summary of my losing trades: bought MacQ Infs Grp (MIG) as it held @ 3.85, stopped out at $3.58. Bought ROC Oil (ROC ) @ 3.48 after a failed breakout, stopped out at $3.28.
Other stocks I'm looking at are Boart Longyear (BLY) - I don't like small-caps much, but I believe this stock could be the next Worley Parsons. It's a cheap stock, but lets wait for its first profit report.
- Vishal Teckchandani
posted by visherer at
1:09 AM
2 Comments:
Hey Vishal,
Why don't you like the small caps?
BTW, did you get onboard SEK?
ASX.G
By
Cameron, at 11 July, 2007
yeah gorilla I hoped on Seek @ $8.00, it surged to $8.41 today but its been a bit volatile for some reason lately, my stop is under support at 7.78, but its looking good now.
the high p/e concerns me but oh well, I have a stop-loss!
By
visherer, at 11 July, 2007
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