JavaScript disabled. Please enable JavaScript to use My News, My Clippings, My Comments and user settings.

If you have trouble accessing our login form below, you can go to our login page.

If you have trouble accessing our login form below, you can go to our login page.

Markets Live: ASX rises two days in a row, first time in a month

Date

Markets Live: The benchmark locked in two successive days of gains but the Australian dollar failed to recover from the RBA's jawboning.

Sort posts by:
Sort comments by:
  • Record low rates and the genius littlelandlords are leveraging to the hilt.

    What could go wrong??? Guffaw!

    Commenter
    Allan
    Location
    Prahran
    Date and time
    July 03, 2014, 5:20PM
    • Historicaly July averages @ 0.05% above inflation. Yippee!

      Commenter
      Allan
      Location
      Prahran
      Date and time
      July 03, 2014, 5:18PM
      • "RBA's Glenn Stevens warns on Aussie dollar, Sydney house prices"

        Houses and holes make a one trick pony economy. And the pony has a limp.

        Commenter
        Allan
        Location
        Prahran
        Date and time
        July 03, 2014, 5:00PM
        • London has a housing bubble so that means we don't have one. No hang on....

          Commenter
          Allan
          Location
          Prahran
          Date and time
          July 03, 2014, 4:58PM
          • SBM long down 7c/share, previous two long 29c/share. * winning *.

            Commenter
            Allan
            Location
            Prahran
            Date and time
            July 03, 2014, 4:47PM
            • Lol. You tripled or quadrupled up into the last long. That's not winning.

              Commenter
              Tim
              Date and time
              July 03, 2014, 5:31PM
          • "David Tepper has the best track record of any investor in the world. Over the last 20 years he has averaged a 40% annual return.

            Let me repeat that again because it’s a staggering number. David Tepper has averaged 40% a year over the last 20 years.

            Let me put this in perspective for you. If you would have invested $10,000 with David Tepper in 1993 you would now have an incredible $8.3 million. Now, that highlights the two keys to building wealth as an investor. You need big returns. But also, consistent returns. And you need to compound those returns overtime."

            I once took a detailed look over David Tepper's Appaloosa Management fund that he began in 1993. None of his positions over that time included "Buying Australian property with DEBT and renting it out for a loss".

            Anyone have any sort of inclination why that might be?

            Commenter
            Common Sense
            Date and time
            July 03, 2014, 4:45PM
            • If you returns beat national inflation, it likely means, another country or person is suffering.

              Commenter
              Liberator
              Location
              SEQLD
              Date and time
              July 03, 2014, 5:16PM
          • RBA jawboning cracks me up. AUD overvalued but not houses (except possibly maybe Syd). Bond yields up. Move along. Nothing to see here. Australia's booming. As the bellboy says "I always buy a bubble". AUDUSD 93.78. AUDJPY 95.54.

            Commenter
            Nobody
            Location
            Nowhere
            Date and time
            July 03, 2014, 4:39PM
            • No comments on the Chinese numbers at 11.54am? Well above expectations, and indicative of the fastest growth in 15 months?

              Funny, but two months ago there must have been 50 posts after a poor month of data out of China, all proclaiming the end of the world as we knew it. But seems like the doomsayers were keen to start threads about anything else this afternoon LOL.

              Commenter
              pass the red
              Date and time
              July 03, 2014, 4:38PM
              • The Shanghai Index is 30% lower than it was in the year 2,000 in real terms.

                Booming!

                Commenter
                Allan
                Location
                Prahran
                Date and time
                July 03, 2014, 4:45PM
            • Was the drop at the end of trade due to the profit-takers jumping in to take the gains the mug punters had given them. If so they will be back in earnest tomorrow to take what's left.

              Commenter
              mitch of ACT
              Date and time
              July 03, 2014, 4:22PM
              • I was just perusing the latest regulatory investment filings of the best performing hedge funds in the world and none of them have positions in "Buying Australian property with DEBT and renting it out for a loss".

                Anyone know why that might be?

                Commenter
                Common Sense
                Date and time
                July 03, 2014, 4:02PM
                • Hedge funds are short-term speculators, property is for long-term investors. If you didn't know that then your screen name is a misnomer.

                  Commenter
                  mitch of ACT
                  Date and time
                  July 03, 2014, 4:08PM
                • Why would they? Easier to channel profits through Cayman Islands shelf companies and reduce tax that way.

                  Commenter
                  Olaf
                  Date and time
                  July 03, 2014, 4:22PM
                • "Hedge funds are short-term speculators".

                  Incorrect. You don't become one of the "best performing" hedge funds in the world by being a "speculator" like Australian property speculators.

                  Why would your fund attract hundreds of millions, billions, and tens of billions of dollars over time as your track record becomes widely known if you were making losses like Australian property speculators? LOL

                  To be "one of the best performing hedge funds in the world" you would have to be booking market beating profits year after year decade after decade. You know.. like the complete opposite of loss making littlelandlords.

                  Commenter
                  Common Sense
                  Date and time
                  July 03, 2014, 4:36PM
              • When is the Fairfax press going to accept and publish the Budget Crisis. The head of Treasury and the Governor of the RBA have stated we need to do something on the deficit and debt. The RBA have today said the governments timing and approach is reasonable.

                When will this get headlines?

                Commenter
                Craig
                Location
                Illawong
                Date and time
                July 03, 2014, 4:02PM
                • Fairfax will probably publish the story of the Budget Crisis in their childrens' edition on the weekend along with other fantasy tales like Cinderella & Snow White.
                  If you want to solve the riddle of the Budget crisis just raise more taxes by getting the big corporates to stop using tax havens. More tax is lost that way than will be saved by Budget cuts, and that's not a fairy tale.

                  Commenter
                  mitch of ACT
                  Date and time
                  July 03, 2014, 4:20PM
              • God! I am sick and tired of this Glen Stevens "jawboning" the Australian Dollar when he feels like it! Mate, us Australians, who live overseas, depend on a higher valuation on the Aus$...It was floated many years ago for the world to decide its worth...If it's rated better than you think, well, so be it! Pull your head in mate!

                Commenter
                Asitis
                Location
                UK
                Date and time
                July 03, 2014, 3:56PM
                • Yes, considering the majority of Australians live overseas the RBA should be doing all it can to talk up the dollar.

                  Duhhhh.

                  Commenter
                  think then type
                  Date and time
                  July 03, 2014, 4:32PM
              • "The housing market may be booming in some capital cities, but in real terms - when house values are adjusted for inflation - the capital gains are far below their previous peaks, a study has found." - The Sydney Morning Herald October 2013

                Read more: http://www.smh.com.au/business/the-economy/really-housing-isnt-a-great-investment-20131031-2wlh8.html#ixzz36NitrT6p

                Commenter
                Oh Dear
                Date and time
                July 03, 2014, 3:50PM
                • Do have to keep dragging facts into the debate?? Don't you know housing is an emotional commitment?

                  Commenter
                  Pollyanna
                  Date and time
                  July 03, 2014, 4:33PM
              • 10.14 Breaking news (From Brickworks) relates I believe to BKI results & intentions, not BKW

                Commenter
                Retired
                Date and time
                July 03, 2014, 3:48PM
                • A short on FMG run down 35%, not locking in profits, reloading on the way back up 18%, still hanging on.

                  Is this a good little run down turning ugly??

                  Commenter
                  Pollyana
                  Date and time
                  July 03, 2014, 3:41PM
                  • A win is a win, where are your trades? Oh that's right you don't have any. he he...

                    Commenter
                    Pig iron bob
                    Date and time
                    July 03, 2014, 4:42PM
                • FMG wiped off a whole month of any gains. Greedy greedy greedy.

                  Commenter
                  Pollyana
                  Date and time
                  July 03, 2014, 3:37PM
                  • $4.90/share in shorts in under 24 months sounds pretty good to me. That's higher than the current share price.

                    Commenter
                    Pig iron bob
                    Date and time
                    July 03, 2014, 5:02PM
                • Wow! What an amazing couple of days! Really happy with the rebound in my portfolio, bouncing back nicely, not looking good for short term traders and shorters unfortunatley, hey just think, you still have your health.

                  Commenter
                  Dr
                  Location
                  Pollyana
                  Date and time
                  July 03, 2014, 3:27PM
                  • But, deep down you know it's going back to 5370, and you'll lament not taking profits.

                    Commenter
                    Nostradamus
                    Date and time
                    July 03, 2014, 3:43PM
                • Slow day. Expect a bit more excitement tomorrow, cover you shorts if you haven't already. Long painful road up. You heard it here first.

                  Commenter
                  Pollyana
                  Date and time
                  July 03, 2014, 3:16PM
                    • Have different opinion.. 100+ points up with no major changes (excitements) in AUS economies nor any sign peaceful resolutions on Ukraine/Iraq in sight...tomorrow is Friday- retreat for weekend rest...

                      Commenter
                      Up and Down is Norm
                      Date and time
                      July 03, 2014, 3:37PM
                    • u can rationalise any way u want. all that matters in the end is if u are right. we'll see if a run up on low vol's is the begining of a bull market, or if recent history repeats and the spikes up are belted back down again to the 5400 lvl.

                      Commenter
                      j
                      Location
                      syd
                      Date and time
                      July 03, 2014, 3:52PM
                  • If rents are rising in major Australian unit markets as some people claim why are yields generally around 1.5 - 3.0% pa and units being desperately advertised with price reductions like "First two weeks rent free"? LMAO!

                    http://www.domain.com.au/search/rent/state/qld/area/city-north/region/brisbane-region/suburb/brisbane/?ssubs=1&searchterm=brisbane

                    Commenter
                    Think about it
                    Date and time
                    July 03, 2014, 3:12PM
                    • Nope. Rents are covering mortgages. There that was easy. See you tomorrow.
                      We can talk about how prices still have not crashed.

                      Commenter
                      Hugo
                      Date and time
                      July 03, 2014, 3:17PM
                    • Your link it to Brisbane. Not familiar with the market there, but I can assure you that rents are rising within 7/8 kms of Sydney CBD.

                      Commenter
                      Irish Phil
                      Date and time
                      July 03, 2014, 3:28PM
                    • @ Irish- have to agree with you there mate. Unfortunately no tax breaks for me this year with rates this low, not sure if im happy or dissapointed, either way rents are covering mortagages.

                      Commenter
                      Mebourne
                      Location
                      Landlord
                      Date and time
                      July 03, 2014, 3:31PM
                    • Irish Phil: would barely be a 1%-2% rise per year on rents here.

                      Commenter
                      DR
                      Location
                      syd
                      Date and time
                      July 03, 2014, 3:38PM
                    • @Dr: I can only comment on the 3 properties that I am involved with and the rate increases have been in the 2-4% range. Not super exciting, but well received with interest payments flat or down.

                      Commenter
                      Irish Phil
                      Date and time
                      July 03, 2014, 4:20PM
                    • Irish: no playing here but I know a few people where rents are decreasing on their places. @ 4% increasing the rent by $25-$30 on $700 a week place would probably cause a tenant to think about moving out

                      Commenter
                      DR
                      Location
                      syd
                      Date and time
                      July 03, 2014, 4:38PM
                    • How are the rents travelling in the old mining towns where the mine closed and everyone got punted? Are prices up or down in those towns? How are the vacancy rates travelling?

                      Commenter
                      Former miner
                      Date and time
                      July 03, 2014, 4:59PM
                  • Can some please explain to me why Australia is currently experiencing a housing boom in Sydney? Is this a boom or a bubble? Im terribly confused from all this boom one second bubble the next.
                    Which one is worse a bubble or a boom?
                    I would love to buy soon as I keep getting pushed out with rental increases.

                    Commenter
                    Terri
                    Location
                    Bankstown
                    Date and time
                    July 03, 2014, 3:07PM
                    • 3 days into the FY & I'm already starting to take some profits.

                      Commenter
                      GS
                      Date and time
                      July 03, 2014, 3:03PM
                      • What a start to the year!

                        And like Allan said only so many more points and we are back at the top of the mountain. Plus all the profits along the way.

                        Commenter
                        Pollyana
                        Date and time
                        July 03, 2014, 3:09PM
                      • I know the market hasn't gone up since October last year but treading water is good isn't it?

                        Commenter
                        Pollyanna
                        Date and time
                        July 03, 2014, 4:21PM
                    • The market only needs to go up:

                      ((6873 * 1.18 * 1.2)-5500)/5500

                      = 77%

                      and it's a new bull market!

                      Hurrah!

                      Commenter
                      Allan
                      Location
                      Prahran
                      Date and time
                      July 03, 2014, 2:48PM
                        • Yipee! Plus all the money I'm earning along the way!

                          Market Boom!

                          Commenter
                          Pollyana
                          Date and time
                          July 03, 2014, 3:01PM
                        • The market needs to drop by

                          ((5484-2500)/2500) = 119%

                          and your December 2012 prediction will be correct.

                          Given that you have invested in line with that prediction, you would be in a world of pain.

                          Commenter
                          Tim
                          Date and time
                          July 03, 2014, 3:02PM
                        • Correction, 119% is how far your prediction is out by. The market only needs to drop 54% for you to be correct

                          Commenter
                          Tim
                          Date and time
                          July 03, 2014, 3:04PM
                        • These sums remind me of the Medieval theological debate: "How many angels can dance on a pinhead?".

                          They are about as meaningful as that debate - which indices (ASX200, an accumulation index, something else)?

                          On 30 June I looked at the 2013-14 FY return on the *individual* stocks that I own - overall it was about 16% - some were better, some were worse. I reviewed each stock and see not rational reason for changing my allocation to any of them - overall my holding is around $1.7 million.

                          That is the difference between an investor and a gambler or trader.

                          Commenter
                          Dr Kiwi
                          Date and time
                          July 03, 2014, 4:00PM
                        • That's good because a 50% drop comes around every decade or so.

                          Or it can go nowhere like the DOW which is 10 % below yr 2000 level in real terms.

                          Commenter
                          Allan
                          Location
                          Prahran
                          Date and time
                          July 03, 2014, 4:18PM
                        • @Allan: any particular reason for picking that starting point? Seems kind of arbitary?

                          Anyway, the ASX was up 18% in the financial year (including dividends).

                          Commenter
                          Irish Phil
                          Date and time
                          July 03, 2014, 4:23PM
                        • That's the previous high. Add 20% plus inflation to get a new bull market.

                          Commenter
                          Allan
                          Location
                          Prahran
                          Date and time
                          July 03, 2014, 4:38PM
                      • Interesting, there are no news on Ukraine /Iraq for 2 days from most of the major news / media i.e CNBC, Reuters etc.. Geopolitics the raising bed of triggers for sharp market rise /fall . , Don't believe situation in Ukraine nor Iraq are settled! Hmmmm

                        Commenter
                        Up and Down is Norm
                        Date and time
                        July 03, 2014, 2:48PM
                        • Can someone explain how a short squeeze works?

                          Commenter
                          new chum
                          Date and time
                          July 03, 2014, 2:43PM
                          • You get the sauce bottle, give it a shake, squeeze a little, ???, sauce! (Profits)

                            Commenter
                            DR
                            Location
                            syd
                            Date and time
                            July 03, 2014, 2:52PM
                          • Short squeeze is a rapid increase in the price of a stock that occurs when there is a lack of supply and an excess of demand for the stock. Short squeezes result when short sellers cover their positions on a stock.

                            Commenter
                            Mr Patient
                            Date and time
                            July 03, 2014, 3:09PM
                          • Just look at AWE today, the shorters are covering their butts all day after they shorted the price down from $1.95 on June 13. They will hang around for a while yet!

                            Commenter
                            AWEsome
                            Date and time
                            July 03, 2014, 3:10PM
                          • "Short squeeze" is a sudden spike "rally" in the market caused by traders covering their shorts,
                            (ie: buying or existing their trades), which was entered just earlier.
                            Usually happens when the market is at the bottom of a trading range and about to reverse, laggard traders
                            (late comers), enter their shorts anticipating a continuation of a downward move. When the market reverses,
                            these late comers cover their shorts adding fuel to the rising market.
                            Most traders mistaken this as a "true" rally because of the magnitude of the rise.
                            Example of a short squeeze on the daily timeframe was the price action of XJO on Wednesday (2nd Jul).

                            Commenter
                            Luke
                            Date and time
                            July 03, 2014, 3:30PM
                        • Have rents gone up yet? Been over 2 years at the same level, that's a 6% drop in real terms.

                          No wonder over 1,000,000 are claiming rental losses. Oh and that's not on one property, that's over their entire portfolio.

                          Commenter
                          Allan
                          Location
                          Prahran
                          Date and time
                          July 03, 2014, 2:39PM
                          • Nope. No one is claiming losses. Interest rates at all time lows. Negative geared property investors, for the first year will be paying tax. Rents are easily covering mortgages.

                            Housing Boom! (investors on the march)

                            Commenter
                            Hugo
                            Date and time
                            July 03, 2014, 2:44PM
                          • Allan: yes, both of the properties that I have tenants in had rental increases of 3-4%. The property I live in (I rent) increased by about 3%.

                            Commenter
                            Irish Phil
                            Date and time
                            July 03, 2014, 2:51PM
                          • Sorry just checked the RBA stats, and yes rental losses are at all time highs.

                            Commenter
                            Hugo
                            Date and time
                            July 03, 2014, 2:53PM
                          • rents don't cover mortgages in Sydney or Melbourne.

                            Commenter
                            DR
                            Location
                            syd
                            Date and time
                            July 03, 2014, 2:53PM
                          • "The Australian Taxation Office (ATO) has just released its 2011-12 Taxation Statistics, which once again revealed Australia is a nation of loss-making landlords, with 15% of taxpayers owning rental properties declaring a combined $7.86 billion of losses."

                            "The average income loss for all negatively geared property investors in 2011-12 was $10,895."

                            Will be interesting to see more recent data from the ATO considering rents have been flat or falling for the last two years in most major rental markets (plus horrific losses in former mining towns). DEBT is also up to record levels in Australia too so there's never before been so many people paying interest on loss making investments in Australia.

                            Commenter
                            Sad Reality
                            Date and time
                            July 03, 2014, 2:54PM
                          • Yep. Investment property #2 rent in 2010 950 per week, 2011 1000 per week, 2012 1050 pw, recently re-negotiated to 1400 per week. In the meantime the value of the place has gone +30%. Plus with a rental yield of 4% it sure beats sitting the cash in a bank account.

                            Commenter
                            Bunyip69
                            Date and time
                            July 03, 2014, 2:59PM
                          • nope. rents are covering loans.

                            Commenter
                            Pollyana
                            Date and time
                            July 03, 2014, 3:03PM
                          • Thabnks for that lagging indicator Allan. But nope. Rents are now covering loans. Interest rates are too low.

                            Commenter
                            Steve
                            Date and time
                            July 03, 2014, 3:11PM
                          • Interest rates are lower but so rents and yields. Littellandlords are bleeding.

                            Commenter
                            Pollyanna
                            Date and time
                            July 03, 2014, 4:23PM
                        • MUST BE TIME
                          for All Ordinaries
                          and
                          ASX SPI 200

                          to burst through and stay above 5500.

                          Commenter
                          SOON
                          Date and time
                          July 03, 2014, 2:39PM
                          • No bites?

                            Must feel silly not to take profits at first leg back up. Doubhly silly when you reload your shorts expecting big things.

                            SBM will always be the worst ever entry exit, reload IMO.

                            Commenter
                            Pollyana
                            Date and time
                            July 03, 2014, 3:20PM
                        • Not sure that Glenn Stevens understands but if he wants the Aussie to fall he will have to cut interest rates.

                          Not that hard surely!

                          Commenter
                          Xenaphon
                          Date and time
                          July 03, 2014, 2:29PM
                          • RBA Governor knows if he cuts rates the A$ should fall. (It may not fall as much as it should due to US and Japan money printing.) He also knows a lower A$ will import inflation and cause a far bigger problem than the one he's warning of with property prices.

                            Commenter
                            nolongerconfused
                            Date and time
                            July 03, 2014, 3:09PM
                        • RBA governor can whinge about the "overvalued" Aussie dollar as much as he likes, the fact is global investors have been in love with our dollar for a while now and they absolutely no reason to stop loving it into the future, especially considering the slow but continues demise of the US green buck.

                          Glen Stevens should stop making rubbish statements and instead do something useful by creating an atmosphere where the 4 major banks would start lowering their ridiculously hight interest rates right across the board, especially on their credit cards.

                          Commenter
                          Shut up G
                          Date and time
                          July 03, 2014, 2:23PM
                          • This blog is really informative and humorous as well. I love the by play between @Allan and his detractors. As soon as a few baits are thrown out he bites harder than a hungry barramundi

                            Commenter
                            Captor
                            Date and time
                            July 03, 2014, 2:19PM
                            • Cracks me up to hear property spruikers claim it great that you claim rental losses as though still losing 65% is a plus.

                              Commenter
                              Allan
                              Location
                              Prahran
                              Date and time
                              July 03, 2014, 2:00PM
                                • Cracks me up too. (Makes me angry)

                                  Commenter
                                  Hugo
                                  Date and time
                                  July 03, 2014, 2:10PM
                                • If you are on the top marginal tax rate + debt levy + medicare levy + disability levy then rental losses to reduce your taxable income and tax payable and replace that with a future much lower taxed 50% of capital gain when the property is sold would seem like a gift from the gods. Unfortunately for most people engaged in negative gearing, they are on the lowest marginal tax rate, if any rate at all after the recent increase to the tax-free threshold.

                                  Commenter
                                  mitch of ACT
                                  Date and time
                                  July 03, 2014, 2:26PM
                                • thank you Mitch and add to that the fact that its positive cash flow but negatively geared, it's, it's, it's....a HOUSING BOOM & I'm loving it...

                                  Commenter
                                  Prince Eugen
                                  Date and time
                                  July 03, 2014, 2:40PM
                                • Incorrect Mitch. Actually people that pay the most tax are negative gearing as it benifits the most. But you will find at the moment all those purchased around 2010-12, will be easily covered by rents, so I struggle to see how they will get a tax return this year, unless my understanding of depreciation is incorrect, otherwise they would be positively geared tax wise.

                                  Commenter
                                  Hugo
                                  Date and time
                                  July 03, 2014, 2:46PM
                                • Spot on Mitch. The wealth and NDIS levies alone will cost me $12000 plus this year. I have hitherto not bothered with negative gearing and other lurks.
                                  But as there government seeks more and more, suddenly losing money in property makes more sense than losing it to the government. As does that conference in Hawaii.

                                  Commenter
                                  Olaf
                                  Date and time
                                  July 03, 2014, 2:48PM
                                • @Olaf, in the good old days I could have shown you how to reduce a $1m+ taxable income down to at least zero (legally) and get a considerable tax refund in the process. Even my (considerable) fee would have been tax-deductible.

                                  Commenter
                                  mitch of ACT
                                  Date and time
                                  July 03, 2014, 3:41PM
                                • "people that pay the most tax are negative gearing"

                                  Nope RBA says that 80% of property investors are in the 35% tax bracket.

                                  Commenter
                                  Pollyanna
                                  Date and time
                                  July 03, 2014, 4:27PM
                              • I wonder how many unlucky sods put shorts on yesterday, or reloading as some called it? Ouch.

                                Commenter
                                Pollyana
                                Date and time
                                July 03, 2014, 1:59PM
                                • That's what people said about FMG, XRO, MMS, LYC, BBG etc etc etc. When you close is when you make a profit or loss. Shorts don't have to be for one day.

                                  Commenter
                                  Allan
                                  Location
                                  Prahran
                                  Date and time
                                  July 03, 2014, 2:29PM
                                • Just like it is only a loss when your margin lender calls in your loan right? ;)

                                  Commenter
                                  DR
                                  Location
                                  syd
                                  Date and time
                                  July 03, 2014, 3:01PM
                                • Whats a margin loan?

                                  Commenter
                                  Pollyana
                                  Date and time
                                  July 03, 2014, 3:21PM
                              • Have house prices crashed today?!

                                Commenter
                                Hugo
                                Date and time
                                July 03, 2014, 1:55PM
                                • Nope they're still at bubble levels. Don't fret though, all bubbles burst of deflate over 23 years like Japan's has.

                                  Commenter
                                  Allan
                                  Location
                                  Prahran
                                  Date and time
                                  July 03, 2014, 2:01PM
                                • Not a chance. See you tomorrow.

                                  Love Hugo.

                                  P.S Housing Boom Sydney!

                                  P.P.S Housing Boom London!

                                  Commenter
                                  Hugo
                                  Date and time
                                  July 03, 2014, 2:13PM
                                • Sydney residential property has hardly beaten inflation for a decade. Is that a boom?

                                  Commenter
                                  Allan
                                  Location
                                  Prahran
                                  Date and time
                                  July 03, 2014, 2:30PM
                                • @ 2.02pm article, property in London is up 25% over the last 12 months.

                                  I was in London for a lot of last year and the prices even then were jaw dropping. But it was always good for a few laughs to read the newspaper blogs about house prices.

                                  "We (the UK) have the most expensive housing in the world". "Prices are way too high compared with income, no way it won't crash." "700k for a dogbox in St John's Wood, we are clearly at the edge of the cliff." "Japan, Ireland blah blah blah......"

                                  Change the poster names and you've got the same blogs we have here, all singing from the same have-not hymn sheet.

                                  And here we are 12 months later and prices are up 25%.

                                  I'd love to have a holiday flat in London but they are way too expensive. I could try to kid myself that they are going to fall back to what I can afford, but the truth is more simple - there are people with more money than me who want the same places I do, so I'll just aspire to something different.

                                  Commenter
                                  pass the red
                                  Date and time
                                  July 03, 2014, 2:44PM
                              • cover with options on bigger holdings if ya nervy.

                                Commenter
                                BearshapedBull
                                Location
                                Mugpunters Lounge
                                Date and time
                                July 03, 2014, 1:51PM
                                • No thanks. I added or reloaded my FMG short twice now, twice bitten now twice shy.

                                  Housing Boom!

                                  Commenter
                                  Hugo
                                  Date and time
                                  July 03, 2014, 2:12PM
                                • Allan's short FMG at $5.35 so he's got nothing to worry about.

                                  Commenter
                                  Hugo
                                  Date and time
                                  July 03, 2014, 2:37PM
                                • unfortunately I can not share that optimism. Its bounced 18% plus those reloads would be hurting no doubt. Hold and risk losing a further 5-10% who knows, great little run down turns out to be a greedy hold and see how far story!

                                  Commenter
                                  Pollyana
                                  Date and time
                                  July 03, 2014, 3:39PM
                              • Nothing like a good old fashioned Stevens Jaw Boning...........only problem is, no ones listening Glenn.

                                Commenter
                                Oracle
                                Location
                                Oberon
                                Date and time
                                July 03, 2014, 1:49PM
                                • Doomsayers and shorters should avoid the following paragraph, as it won't mean anything to them.

                                  Early July is a terrific time for investors. 3 of the banks send out their dividends now, plus a host of other companies like Metcash, Orica, CSR etc...... Collectively that is many billions of dollars cash being sent to shareholders this week alone, a lot of which will be reinvested in the market. That is a key reason for our market usually performing pretty well in the early part of the financial year.

                                  Commenter
                                  pass the red
                                  Date and time
                                  July 03, 2014, 1:40PM
                                  • Sure, but that capital will be matched many times over by the fact that China is starting to crack down on corruption and foreign property purchases in particular. The Australian apartment market has functioned like a money laundry for Chinese bribes. Watch the edge come off the high-end Melbourne and Sydney apartment sales market.

                                    Commenter
                                    Dr No
                                    Location
                                    Sydney
                                    Date and time
                                    July 03, 2014, 1:46PM
                                  • XJO July open/close

                                    2001: 3377/3270 -3.168%
                                    2002: 3159/3032 -4.020%
                                    2003: 3003/3106 +3.430%
                                    2004: 3531/3546 +0.424%
                                    2005: 4224/4346 +2.888%
                                    2006: 5034/4932 -2.026%
                                    2007: 6310/6127 -2.900%
                                    2008: 5332/4989 -6.433%
                                    2009: 3947/4174 +5.751%
                                    2010: 4324/4542 +5.042%
                                    2011: 4659/4539 -2.58%
                                    2012: 4135/4234 +2.39%
                                    2013: 4775/5023 +5.194%

                                    => avg 0.03% rise, slightly more than inflation, not terrific.

                                    Myth busted.

                                    Commenter
                                    Allan
                                    Location
                                    Prahran
                                    Date and time
                                    July 03, 2014, 2:25PM
                                  • SBM -50% not including three reloads at the worst timings in the market you couldn't even dream up.

                                    Commenter
                                    Pollyana
                                    Date and time
                                    July 03, 2014, 3:34PM
                                • National Australia Bank director Geraldine McBride purchased 2,000 NAB shares valued at $64,960 on July 1, the bank has disclosed.

                                  big deal!

                                  Commenter
                                  no banks .. no party!
                                  Date and time
                                  July 03, 2014, 1:32PM
                                  • Yeah that was my first thought. It's such an irrelevant amount. I understand why it needs to be closed and company announcements would cover that, but I didn't think the Eds needed to mention it here.

                                    Commenter
                                    Gareth
                                    Location
                                    Sydney
                                    Date and time
                                    July 03, 2014, 1:39PM
                                • “People should not assume that prices always rise. They don’t; sometimes they fall.” - Glenn Stevens (today)
                                  Well, Glenn, not if you and the Govt has created an environment to sustain such "bubble".
                                  Reasons why we have this housing bubble:
                                  1) Historical low interest rates.
                                  - Mum & Dads homeowners/investors suddenly realised that their borrowing or repayment capacity has almost doubled
                                  so they buy another property even at already inflated prices.
                                  - Home buyers who were waiting on the sideline decided to hop-in on the bandwagon. Buying near the top of the price chart.

                                  2) SMSF were allowed to invest in property with gearing.
                                  - SMSFs have a very long term view of the market so they buy regardless of the property price levels.
                                  - Some SMSFs are being suckered by property spruikers selling them over-inflated prices.

                                  3) Labour cost in building houses are in all time high (also the resources boom has increased labour cost).

                                  3) Local governments controlling the release of land for housing.

                                  4) First Home Buyers Grant.
                                  - Developers/Builders/Real Estate factored this in to the price of the property they are selling. So effectively its not really helping
                                  First Home Buyers, but rather just making their mortgages bigger.

                                  5) Foreign buyers (to the lesser extent)

                                  There you have it. The concoction of the above are the reasons we have this housing bubble.
                                  RBA's jawbonning has no effect unless concrete corrective measures are to be implemented.

                                  Commenter
                                  hammer
                                  Date and time
                                  July 03, 2014, 1:32PM
                                  • Bought another 1000 ORG @ $14.45, nice discount on the recent high of $15.50!

                                    Still think there is a lot left in this one!

                                    A colleague of mine still rues the day he shorted @$12

                                    Commenter
                                    ORGan donor
                                    Date and time
                                    July 03, 2014, 1:06PM
                                    • Last short at $15.10. Too bad huh?

                                      Commenter
                                      Allan
                                      Location
                                      Prahran
                                      Date and time
                                      July 03, 2014, 1:23PM
                                  • Market up approx. 100 points in 2 day with relatively thin volume .Would be prudent to act cautiously - pay attention to enable quick exit!

                                    Commenter
                                    Up and Down is Norm
                                    Date and time
                                    July 03, 2014, 12:59PM
                                    • No matter how quick you are those driving the rise will still be quicker to get out.

                                      Commenter
                                      mitch of ACT
                                      Date and time
                                      July 03, 2014, 1:25PM
                                    • @ Mitch Set a target price is the way to mitigate vs those original "Price Fixer/lifter"

                                      Commenter
                                      Up and Down is Norm
                                      Date and time
                                      July 03, 2014, 1:35PM
                                  • How many traders are aware that Company Administrators are able to secure a court order under the companies act, to strip share holders of all or most of their shares. There is no payment you just no longer have those shares. In other words, Court sanctioned robbery. Then to add insult to injury, said company (MBN) comes out of suspension to trade at 4 times the price that you originally brought those shares for. They win, I and many others loose with legalized criminality.

                                    Commenter
                                    hoddy
                                    Date and time
                                    July 03, 2014, 12:57PM
                                    • It's "lose" as in to have lost something.

                                      "Loose" is used in expressions like "a loose jumper" or "loose change" or "a loose knot", meaning something like "spare" or "left over" or "slack" or "imprecise".

                                      Otherwise I agree with everything you said. It's legalised theft.

                                      Commenter
                                      Save The Language Fund
                                      Date and time
                                      July 03, 2014, 1:56PM
                                    • If they had to print out all the shares and options on paper they newly registered again, they would be already be bankrupt again, Yes amazing what you can do legally an the ASX

                                      Commenter
                                      amazing
                                      Location
                                      brisbane
                                      Date and time
                                      July 03, 2014, 2:00PM
                                  • "Australian retail spending fell 0.5 per cent in May"

                                    And that's on top of squeezed margin from heavy discounting.

                                    Look like I will have to wait a while to reload MYR shorts.

                                    Commenter
                                    Allan
                                    Location
                                    Prahran
                                    Date and time
                                    July 03, 2014, 12:55PM
                                    • A bit disappointed I missed this one. I think you shorted it when it was over $3 last year and when it was over $2.50/$2.60ish this year? Good trade.

                                      Commenter
                                      Curious Observer
                                      Date and time
                                      July 03, 2014, 1:38PM
                                    • My favourite would be that 50% train smash, what was the code again, oh yeah SBM LMAO!

                                      Commenter
                                      Hugo
                                      Date and time
                                      July 03, 2014, 2:52PM
                                    • Is that it? One trade? vs 18 winners still pretty good I'd say.

                                      He has already said the last two closes on SBM for 16% and 24% or 28/share and now he's only down 7c/share.

                                      Commenter
                                      Pollyanna
                                      Date and time
                                      July 03, 2014, 4:29PM
                                  • 45% of disabled people live in poverty so what does Abbott do? Scrap the disability discrimination commissioner.

                                    Class warfare Abbott style.

                                    Commenter
                                    Allan
                                    Location
                                    Prahran
                                    Date and time
                                    July 03, 2014, 12:52PM
                                    • Irrelevant. Can you self-police your posts a bit and take the burden off the admins. Let's stick to market-relevant commentary please.

                                      Commenter
                                      Gareth
                                      Location
                                      Sydney
                                      Date and time
                                      July 03, 2014, 1:03PM
                                    • I think his policies intend to target those who are not disabled but live on disability benefits. Get those - and there's a lotta them - into work so that those who really are disabled can get something out of the disability pension system.

                                      Commenter
                                      Dr No
                                      Location
                                      Sydney
                                      Date and time
                                      July 03, 2014, 1:05PM
                                    • How else is he going to be able to pay the $50k Baby Bonus to those lady lawyers on the North Shore.
                                      The strange aspect is that disabled people are going to need more spokespeople to stand up for them as more and more are forced back into the workforce as their benefits are cut and they compete with the unemployed under-30s, the mums forced back to work as their FTB is cut, older Australians having to wait for their pension and work-for-the dole participants. Presently there is 1 job for each 6 unemployed. Soon it will be 1 for 8.

                                      Commenter
                                      mitch of ACT
                                      Date and time
                                      July 03, 2014, 1:10PM
                                    • You don't get the disability pension unless you have zero capacity for work as decided by government appointed doctors so not sure where you get your figures from.

                                      In fact the % of people on the DSP is a lot lower then the OECD average.

                                      Commenter
                                      Allan
                                      Location
                                      Prahran
                                      Date and time
                                      July 03, 2014, 1:25PM
                                    • Of course it's relevant, to the participation rate and macro level considerations. Who died and made you mod?

                                      Commenter
                                      Allan
                                      Location
                                      Prahran
                                      Date and time
                                      July 03, 2014, 1:28PM
                                    • Mitch I also think it's outrageous that mothers should be forced to pay for their personal choices instead of expecting the government to provide for them. I think nobody should work and we should all live off the government. As for the age pension, they have paid taxes their whole lives for the age pension. Infrastructure, health, education, etc cost nothing because the government paid for it. Oh the outrage.

                                      Commenter
                                      Karl M
                                      Date and time
                                      July 03, 2014, 1:41PM
                                    • "As for the age pension, they have paid taxes their whole lives for the age pension."

                                      The Aged Pension is a welfare payment. You get it regardless of whether you paid taxes or not.

                                      Commenter
                                      Allan
                                      Location
                                      Prahran
                                      Date and time
                                      July 03, 2014, 1:56PM
                                    • Nup, can't be true Allan. Everyone who says the age pension shouldn't be touched always says that they have paid taxes their whole life and they deserve the age pension in it's current form. But I do like your idea of not having to ever have paid any taxes to get welfare. 'I like it'!

                                      Commenter
                                      Karl M
                                      Date and time
                                      July 03, 2014, 2:30PM
                                  • Glen Stevens: "The total value of credit approvals for investor loans in New South Wales as a whole is about 130 per cent higher than in 2008, and it is in the investor segment where there has been evidence of some increase in lending with loan-to-value ratios above 80 per cent.”

                                    “People should not assume that prices always rise. They don’t; sometimes they fall.”

                                    Housing boom!

                                    Commenter
                                    Allan
                                    Location
                                    Prahran
                                    Date and time
                                    July 03, 2014, 12:48PM
                                    • LOL at the way the doomsayers and ideologues get excited about things like "investors getting loans at more than 80% LVR".

                                      Banks lend to investors based on their overall balance sheets, not just the property. My investment properties have always been at minimum 100% LVR, even more in some cases where costs were thrown in. Because it is tax effective to do so. But overall, my gearing is modest because of a diversified spread of assets, including my PPR, which have no debt on them.

                                      With the rise in the share markets over the last twelve months it's time to think about another investment property for portfolio balance. It will be 100% geared, too. I'll announce that now so Allan can have something to look forward to before it finds its way into the stats in coming months.

                                      Commenter
                                      pass the red
                                      Date and time
                                      July 03, 2014, 1:16PM
                                  • pretty annoyed with ASX.

                                    MBN goes on a monumental run like a shooting star...and no speeding ticket. How is that possible?
                                    Someone is napping!

                                    Commenter
                                    Ox
                                    Location
                                    Kensi Pk
                                    Date and time
                                    July 03, 2014, 12:46PM
                                    • pretty annoyed i missed the boat after the reinstatement...sour grapes now

                                      Commenter
                                      BearshapedBull
                                      Location
                                      Mugpunters Lounge
                                      Date and time
                                      July 03, 2014, 1:53PM
                                  • I only had one trade, long BBG. What a dog.

                                    Commenter
                                    Gee up
                                    Date and time
                                    July 03, 2014, 12:46PM
                                    • Hundreds of thousands scammed by CBA.

                                      Banks behaving badly. Again.

                                      Obviously $10M salaries isn't enough.

                                      Commenter
                                      Allan
                                      Location
                                      Prahran
                                      Date and time
                                      July 03, 2014, 12:43PM
                                      • Hasn't hurt the share price.

                                        Commenter
                                        Gareth
                                        Location
                                        Sydney
                                        Date and time
                                        July 03, 2014, 12:47PM
                                      • No it hasn't. Yet.

                                        Commenter
                                        Allan
                                        Location
                                        Prahran
                                        Date and time
                                        July 03, 2014, 12:57PM
                                      • The compensation process is nowhere near independant enough. I smell class action. Then watch the share price. Many people had their lives destroyed, some committed suicide, many lost their homes. The compensation will be huge, the damages could be enormous.

                                        Commenter
                                        mitch of ACT
                                        Date and time
                                        July 03, 2014, 1:31PM
                                    • BHP short at $38.40 still looking good. Doubt this sucker rally will last long.

                                      Commenter
                                      Allan
                                      Location
                                      Prahran
                                      Date and time
                                      July 03, 2014, 12:42PM
                                      • into

                                        BPT @1.69

                                        Let's hope my day trade doesn't turn into a week trade!!

                                        Commenter
                                        Ox
                                        Location
                                        Kensi Pk
                                        Date and time
                                        July 03, 2014, 12:41PM
                                          • hovering as well,was looking @ 1.65...still looking,good luck Ox

                                            Commenter
                                            BearshapedBull
                                            Location
                                            Mugpunters Lounge
                                            Date and time
                                            July 03, 2014, 1:58PM
                                        • My guess is that the market controllers are doing a bit of a pump and dump to suck in a few of the punters.
                                          The 5,000 down to 5370 has been a good trade, wonder if it'll continue?

                                          Commenter
                                          Monkey Throwing Darts
                                          Date and time
                                          July 03, 2014, 12:29PM
                                          • outta
                                            BKN @ 4.12 [avg 3.98]
                                            SIV @ 5.18 [avg 4.77]
                                            next

                                            Commenter
                                            BearshapedBull
                                            Location
                                            Mugpunters Lounge
                                            Date and time
                                            July 03, 2014, 12:25PM
                                            • @BSB. Nice save on the ups and downs of BKN. Unfortunately i am still in the trade.
                                              Div yield of 7.7% and PE of 10!!! Great.
                                              All the stats add up but too manipulated by the big funds.

                                              Commenter
                                              It's All About Making Money
                                              Location
                                              Lennox Hd
                                              Date and time
                                              July 03, 2014, 12:47PM
                                            • @itsallaboutmakinmoney
                                              yep saw a jump off target was 4.15 after chasing it down,but seeing the recent rally topping out,decided $$ better else where,but i like em and do see some positives but not for the SP short term,hope ya come out in front.

                                              Commenter
                                              BearshapedBull
                                              Location
                                              Mugpunters Lounge
                                              Date and time
                                              July 03, 2014, 1:46PM
                                          • AWE on a roll again this morning. As a holder of shares I really love to see the shorters getting squeezed like what is happening today.

                                            Fantastic!

                                            Commenter
                                            AWEsome
                                            Date and time
                                            July 03, 2014, 12:13PM
                                            • What shorters? Total short positions are only @ 0.36%.

                                              Commenter
                                              Allan
                                              Location
                                              Prahran
                                              Date and time
                                              July 03, 2014, 12:40PM
                                          • 5500 here we come! 5492 and showing no signs of stopping!

                                            Feel sorry for the guy who shorted at 5443 yesterday!

                                            Commenter
                                            Mister5100
                                            Date and time
                                            July 03, 2014, 12:10PM
                                            • Here comes the ceiling...5500 handbrake on.

                                              Commenter
                                              BearshapedBull
                                              Location
                                              Mugpunters Lounge
                                              Date and time
                                              July 03, 2014, 12:08PM
                                              • Yep. Sell at 5500 for a roll back to 5350.

                                                Our market cannot run like this for long.

                                                Asia lower, Europe looks flat, US futs down.

                                                Commenter
                                                a
                                                Date and time
                                                July 03, 2014, 12:52PM
                                              • LMAO! Good luck with that short!

                                                Expect a roll back down LMAO! Do you give financial advice. What are you shorting the index? You must be rich.

                                                Commenter
                                                Pollyana
                                                Date and time
                                                July 03, 2014, 3:14PM
                                            • MBN to the moon......crikey

                                              Commenter
                                              BearshapedBull
                                              Location
                                              Mugpunters Lounge
                                              Date and time
                                              July 03, 2014, 12:05PM
                                              • News item on ch24 that gas-fired electricity generators in QLD are and will-be mothballed while mothballed coal-fired generators will be re-instated. All as a consequence of shipping gas o/seas for higher prices. That increase in the gas price for private profit is going to do a lot of damage. Every industry & institution that uses gas in large volumes, eg brick & concrete kilns, food producers, hospitals is going to take a big hit on costs. That's not to mention the increased cost to households for domestic gas who will have less money to spend elsewhere, eg retail. Given past performance I suspect that the increase in profit to the gas exporters will also be exported o/seas and escape taxation here via good old transfer pricing. So much for any gains to the economy from the abolition of the carbon tax.

                                                Commenter
                                                mitch of ACT
                                                Date and time
                                                July 03, 2014, 11:59AM
                                                • What will the market do on Friday?
                                                  With only the European markets to guide us while the Yanks take the day off to sell ebrate their big day , what will happen?
                                                  FRIDAY the day when the market usually puts its feet up wondering what the USA will do and the whole weekend when the world could grind to a shuddering end. Well what do think this Friday will bring ?

                                                  Commenter
                                                  Pest from the West
                                                  Location
                                                  Lowood QLD
                                                  Date and time
                                                  July 03, 2014, 11:43AM
                                                  • After 2 good days (assuming today holds) absolutely, definitely, for certain, DOWN (maybe).

                                                    Commenter
                                                    Gumly
                                                    Location
                                                    Mackay
                                                    Date and time
                                                    July 03, 2014, 12:01PM
                                                  • Negative. Meet Negative. I think this is somehow a positive. LMAO!

                                                    Commenter
                                                    Mr
                                                    Location
                                                    Positive
                                                    Date and time
                                                    July 03, 2014, 12:06PM
                                                  • I would like to see a 4th July US long weekend close above 17000 tonight.

                                                    After that milestone is anyone's guess!

                                                    Commenter
                                                    GS
                                                    Date and time
                                                    July 03, 2014, 12:14PM
                                                • @11:18 Come one Glen you are not fooling anyone. The RBA rate policy of trying to force savers from term deposits into overpriced property and overpriced stock will fail.

                                                  Those who bought into "good times will never end" lie are already geared with debt to the max, while the Bears will not change their minds, just perhaps run offshore as rest of the world starts rising rates. (Looking at you NZ)

                                                  He is between rock and hard place. Raise rates and slow down dollar, or keep rates low and watch Debt madness continue.

                                                  Commenter
                                                  DJ77
                                                  Location
                                                  Sydney
                                                  Date and time
                                                  July 03, 2014, 11:42AM
                                                  • Two out of Australia's Big 4 banks have cash-to-asset ratios that are lower than what Lehman Brothers held in the US 15 months prior its collapse. This is scary stuff but who cares as long as the Bankers get to make their millions in bonuses and compensation by hoodwinking the common man.
                                                    Source : http://rt.com/op-edge/169908-australia-economic-boom-ending/

                                                    Commenter
                                                    Ash
                                                    Location
                                                    Sydney
                                                    Date and time
                                                    July 03, 2014, 11:38AM
                                                    • Does not matter.

                                                      Until the central bank put (i.e. no-one goes broke [especially banks]) dies they could have -ve cash balances for all I care...

                                                      Commenter
                                                      Bye Bye Fiat Money
                                                      Date and time
                                                      July 03, 2014, 11:41AM
                                                    • I don't know if that's a fair comparison. I imagine most of Lehman's "assets" didn't end up being assets at all!

                                                      Commenter
                                                      JoJo
                                                      Location
                                                      Castle Hill
                                                      Date and time
                                                      July 03, 2014, 11:59AM
                                                    • Isn't scary stuff to people that understand how banks work and understand the risk profile of an Australian Big 4 bank, compared to Lehman Brothers circa 2006.

                                                      Commenter
                                                      DR
                                                      Location
                                                      syd
                                                      Date and time
                                                      July 03, 2014, 12:06PM
                                                    • Yes Lehman Assets turned out to be Lemons, where as Big 4 assets comprised of One Bedroom no car space Sydney Apartments valued near million dollar mark, are "real assets".

                                                      Commenter
                                                      DJ77
                                                      Location
                                                      Sydney
                                                      Date and time
                                                      July 03, 2014, 12:12PM
                                                    • Watch the second Wall Street movie, 'Money Never Sleeps'. That will explain to you why Lehman and Bear Stearns were allowed to be sacrificed by the Fed.

                                                      Commenter
                                                      Y Diddy
                                                      Date and time
                                                      July 03, 2014, 12:38PM
                                                    • DJ77's comment at 12.12 just proved DR's comment at 12.06 in spades.

                                                      Commenter
                                                      pass the red
                                                      Date and time
                                                      July 03, 2014, 2:04PM
                                                  • "Of course, we live in unusual times, with interest rates at the ‘zero lower bound’ in several major jurisdictions." - Glenn Stevens

                                                    See this just isn't true. Greenspan started the "money is worthless", "money is worth 0%" policy after 9/11. So the start of 2002 - mid 2014 is not some "unusual time" that can be so easily dismissed. It is actually the same time frame that the property bubbles around the world were built, the equity bubbles around the world were built, and gold went to that bubble of US$1900 an ounce.

                                                    There is nothing "unusual" about the state the global financial system now finds itself in. This situation is a direct result of pretending money is worthless/worth around 0%, Household DEBT in places like Australia reaching record levels, changing the name of DEBT to "leverage", and changing the term "Record Low Emergency Level Interest Rates" to "Low Rate Environment".

                                                    Commenter
                                                    Come on now
                                                    Date and time
                                                    July 03, 2014, 11:24AM
                                                    • Been looking around to buy a value share that maybe a takeover target. I am thinking there may be some miners out there of interest similar to PNA.

                                                      OZL might be attractive at current levels. Does anyone have thoughts on who would be in the sights of the Chinese?

                                                      Commenter
                                                      clive
                                                      Date and time
                                                      July 03, 2014, 11:24AM
                                                      • Warning Warning All holders of Vocation [VET]
                                                        UBS AG just jumped onboard as sub holder get ready for the short load=up and downward price spiral........warning ends.

                                                        Commenter
                                                        BearshapedBear
                                                        Location
                                                        Mugpunters Lounge
                                                        Date and time
                                                        July 03, 2014, 11:18AM
                                                        • Just became very bearish for a sec...dammit they are/were heading for big things.

                                                          Commenter
                                                          BearshapedBull
                                                          Location
                                                          Mugpunters Lounge
                                                          Date and time
                                                          July 03, 2014, 11:26AM
                                                        • Sold out 2000 @ 3.07 i dont need the grief.

                                                          Commenter
                                                          BearshapedBull
                                                          Location
                                                          Mugpunters Lounge
                                                          Date and time
                                                          July 03, 2014, 11:42AM
                                                        • Hope you held on to your RIO mate!

                                                          Getting a nice ride with the banks eh.

                                                          Commenter
                                                          cyril
                                                          Date and time
                                                          July 03, 2014, 11:52AM
                                                        • Why would UBS taking a bigger position mean the price is going to go down? You don't buy stock to sell it to push the price down.

                                                          Commenter
                                                          Y Diddy
                                                          Date and time
                                                          July 03, 2014, 12:21PM
                                                        • @cryil,yep held on for a run,so getting better with RIO, banks are a wait and see too early for a sustained swing,so some hope of a steady rise towards Nov.Best of luck.
                                                          @Y Diddy their track record is enough evidence,warnings there.

                                                          Commenter
                                                          BearshapedBull
                                                          Location
                                                          Mugpunters Lounge
                                                          Date and time
                                                          July 03, 2014, 1:38PM
                                                      • Solid start to 2015 FY. There will be a few transitional trades with punting agencies trying to pick their 3 monthly winners. Banks no doubt with their profit margins and divs holding high.

                                                        Commenter
                                                        Liberator
                                                        Location
                                                        SEQLD
                                                        Date and time
                                                        July 03, 2014, 10:54AM
                                                        • Yes, I tend to agree with you @ Liberator, wouldn't want to short the index that's for sure!

                                                          Commenter
                                                          Captor
                                                          Date and time
                                                          July 03, 2014, 10:57AM
                                                        • Agree - had a 9 point short yesterday but too much optimism around the world right now!

                                                          Commenter
                                                          Liberator
                                                          Location
                                                          SEQLD
                                                          Date and time
                                                          July 03, 2014, 11:22AM
                                                      • Wouldn't it be nice for the ASX to have 2 good days in a row!

                                                        Commenter
                                                        Gumly
                                                        Location
                                                        Mackay
                                                        Date and time
                                                        July 03, 2014, 10:45AM
                                                        • 2 steps forward, 3 steps back ?

                                                          Commenter
                                                          Oracle
                                                          Location
                                                          Oberon
                                                          Date and time
                                                          July 03, 2014, 3:04PM
                                                      • "China Property Market Weakens

                                                        Land sales in 300 cities in China fell by nearly a third in the second quarter from the same period a year earlier, as property developers grapple with declining home purchases and falling prices."

                                                        Commenter
                                                        Can you deal?
                                                        Date and time
                                                        July 03, 2014, 10:38AM
                                                        • Better the bubble deflates now than when it is too late. China's tune is now one of sustainable long term growth.

                                                          Commenter
                                                          MLJ
                                                          Date and time
                                                          July 03, 2014, 11:29AM
                                                        • "China's tune is now one of sustainable long term growth."

                                                          I remember the last time I heard people say stuff like "We've managed boom bust cycles out of the system and economic growth is now on a sustainable trajectory". It was right before the GFC lmao! Now global DEBT is over 30% higher than it was at the start of the GFC. There's more people speculating on asset bubbles with borrowed money than ever before.

                                                          Let's look at China specifically:

                                                          1. Communism has never worked in all the times it has been tried throughout human history.

                                                          2. One "party" rule through oppression and a state run/dominated economy has never worked throughout human history.

                                                          3. Building empty flats (22% of Chinese residential property is unoccupied) with DEBT using building materials financed (in some cases fraudulently) with DEBT is obviously not economically sustainable.

                                                          Commenter
                                                          I've heard it before
                                                          Date and time
                                                          July 03, 2014, 11:51AM
                                                      • The sCANdalous bank is at it again continuing ripping off their customers, but with Narev proclaiming the bank is transformed. The day of reckoning will come Narev.

                                                        Commenter
                                                        Viking
                                                        Location
                                                        Sydney
                                                        Date and time
                                                        July 03, 2014, 10:34AM
                                                        • I see what you did there...

                                                          Commenter
                                                          Bye Bye Fiat Money
                                                          Date and time
                                                          July 03, 2014, 10:48AM
                                                        • @ Viking and fellow citizens.... The CBA fiasco is plain mockery cum broad daylight robbery of the common man in Australia. I find it very concerning that despite all the criminal actions that took place in the bank over the past several year not a single bank executive with executive ranks has been penalized or punished for the criminal actions of the past including the millions of dollars in bonuses that they have earned over the years. These senior executives have been just reshuffled within bank to other group portfolios. Bankers always get away scot free no matter whatever the intensity of the financial crime that was committed with all their millions dollar bonuses intact. What a shameful moment this is for all of us.

                                                          Commenter
                                                          Ash
                                                          Location
                                                          Sydney
                                                          Date and time
                                                          July 03, 2014, 11:06AM
                                                        • And yet CBA shares continue to rise in value. What does that say about the Australian investor?

                                                          Commenter
                                                          confused
                                                          Date and time
                                                          July 03, 2014, 11:25AM
                                                        • Im more worried about people that called for 20% drop in CBA share price for the last 2 years.

                                                          Commenter
                                                          Silly
                                                          Location
                                                          Billy's
                                                          Date and time
                                                          July 03, 2014, 3:22PM
                                                      • @1026 comment
                                                        Skyward is a little OTT,up 2.7% is daily fluctuations for most so lets keep a lid on over enthusiasm ,but never the less a great result for a great company [SRX]...the next CSL,but now im catching the bug.

                                                        Commenter
                                                        BearshapedBull
                                                        Location
                                                        Mugpunters Lounge
                                                        Date and time
                                                        July 03, 2014, 10:32AM
                                                        • Anyone here on graphite miner Lamboo (LMB)? Went into trading halt a couple of days ago, and has now gone into suspension until Monday. Reasons are "in relation to the execution of a significant corporate transaction". Does such a statement usually lead to a good or bad announcement?

                                                          Commenter
                                                          Gareth
                                                          Location
                                                          Sydney
                                                          Date and time
                                                          July 03, 2014, 10:30AM
                                                          • Good usually.....but depends on $$ or script,takeover/merger scenario.

                                                            Commenter
                                                            BearshapedBull
                                                            Location
                                                            Mugpunters Lounge
                                                            Date and time
                                                            July 03, 2014, 10:36AM
                                                          • Batteries and graphite are clearly the businesses to be in. Especially when all those electric cars start needing new batteries in a few years time. See...
                                                            http://www.theage.com.au/business/theyve-got-the-power-battery-stocks-charging-up-analysts-say-20140702-zst1i.html
                                                            Beats me why anyone would by a car that is almost a write off after a few years, unless maybe if it is a taxi or similar high use vehicle, but can’t fight the fad.

                                                            Commenter
                                                            Engineer
                                                            Location
                                                            Scam City
                                                            Date and time
                                                            July 03, 2014, 10:44AM
                                                          • You can often tell the consequences of the transaction by what the share price & volumes did in the days or time before the Trading Halt as the insiders jump in or out. They have nothing to fear from ASIC.

                                                            Commenter
                                                            mitch of ACT
                                                            Date and time
                                                            July 03, 2014, 10:51AM
                                                          • Was thinking about the car thing too, i.e. why bother, they're (should/could) get heavily discounted by new tech. hitting the market in the next few years....
                                                            Regarding graphite (miners), I agree with your post, however the miners have run up a fair bit.... too much speculation atm. On the sidelines for now.

                                                            Commenter
                                                            Bye Bye Fiat Money
                                                            Date and time
                                                            July 03, 2014, 10:54AM
                                                          • Mitch, the rise was beforehand was pretty intense which is encouraging, but of course it could be a case of 'buy on rumour, sell on fact' so who knows what will happen even if it is a good announcement.

                                                            Commenter
                                                            Gareth
                                                            Location
                                                            Sydney
                                                            Date and time
                                                            July 03, 2014, 11:13AM
                                                        • "
                                                          MORE than 1300 Victorian taxi drivers have been charged with crimes in the past three years, including murder, ­attempted murder, rape and culpable driving causing death.

                                                          Almost 10 per cent of the state’s drivers have been charged with a criminal ­offence since the Coalition Government introduced checks of taxi driver criminal records in June 2011."

                                                          And the rent seeking, protectionist government and taxi industry have the hide to suggest that Uber isn't safe?

                                                          Tinkering around the edges as Alan Fels report suggests is not going to cut it. Total disruption is required.

                                                          Commenter
                                                          Allan
                                                          Location
                                                          Prahran
                                                          Date and time
                                                          July 03, 2014, 10:15AM
                                                          • CKF - Held up well after going ex-div 2/7/14. up 2.5% this morning.
                                                            The next Domino's DMP? Time will tell.

                                                            Commenter
                                                            It's All About Making Money
                                                            Location
                                                            Lennox Hd
                                                            Date and time
                                                            July 03, 2014, 10:08AM
                                                            • Hardly the next domino's.

                                                              Commenter
                                                              DR
                                                              Location
                                                              syd
                                                              Date and time
                                                              July 03, 2014, 10:44AM
                                                            • @DR. Similar sector. Low cost food/dining. Is chicken protein better than bread/carbs??? For me yes....but you are the DR.
                                                              CKF PE 10.9 beats DMP PE of 42.31.
                                                              CKF Div of 5.25% beats DMP 1.5%.
                                                              It all comes down to the low cost snack preference of pizza over chicken or vica versa.
                                                              However in my opinion both are well liked.

                                                              Commenter
                                                              It's All About Making Money
                                                              Location
                                                              Lennox Hd
                                                              Date and time
                                                              July 03, 2014, 12:23PM
                                                            • I like the stock but I'll like it a lot more when(if) they sell Sizzler. Good value under $2.

                                                              Commenter
                                                              GS
                                                              Date and time
                                                              July 03, 2014, 12:48PM
                                                            • They own KFC only in QLD, Sizzler is a dying brand and high operating costs compared to a KFC, Stag Stand is a good idea, but isn't contributing to the bottom line that much (and is overpriced from a consumer perspective). Dominos on the other hand is eventually going to beat Pizza Hut at its own game in Australia and does everything well from a business perspective (even if you don't like the food there).

                                                              Commenter
                                                              DR
                                                              Location
                                                              syd
                                                              Date and time
                                                              July 03, 2014, 4:43PM
                                                          • "Financial planners at the scandal-plagued Commonwealth Bank are still raking in lucrative commissions and fees for tipping their clients into $3.2 billion so-called ''zombie funds'' that have been frozen for six years."

                                                            How could a fund be frozen for 6 years? Oh that's right.. they are funds predicated on the assumption property prices only go up but when property prices don't "only go up" they are frozen for 6 years to stop the house of cards from falling over.

                                                            Commenter
                                                            Dethrone Royalty Headquarters
                                                            Date and time
                                                            July 03, 2014, 10:05AM
                                                            • Copper up 1.7% in Chicago overnight. Since the CITEC Resources scandal broke last month copper has gone from about $6700/t to over $7100/t. Iron Ore is also up once again. Looks like CITEC is having to replace some of the missing metal they thought they had stored at Qingdao Port.

                                                              Commenter
                                                              Engineer
                                                              Location
                                                              Scam City
                                                              Date and time
                                                              July 03, 2014, 9:46AM
                                                              • Has not helped ABY's perfprmance...yes I know they have mine problems.But what are the chances of owing Australia's most leveraged copper producer and watching the share price fall whilst underlying metal rises!!! Could only happen to Ox!

                                                                Commenter
                                                                Ox
                                                                Location
                                                                Kensi Pk
                                                                Date and time
                                                                July 03, 2014, 11:30AM
                                                            Comments are now closed