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Markets Live: Coke fuelled sell-off

Date

Patrick Commins, Jens Meyer

Shares traded sharply lower after a tech-led sell-off on Wall Street, with Coca-Cola falling the most in 23 years after a profit warning.

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  • I remember a couple of years ago when people were buying 4B 2Bth 2 car garage homes in Las Vegas for US$125k on 30 yr fixed mortgages at 3.5%. At the same time 4B 2Bth 2 car garage homes 45mins + North, South and West of Brisbane were selling for $450k on 30 year variable rate mortgages LMAO!

    Commenter
    Pretty Basic Stuff
    Date and time
    April 11, 2014, 4:52PM
    • "More than half of Indians don't use toilets. To tackle this problem, Unicef unveiled a public-health campaign featuring Mr. Poo, a lumpy and brown dancing turd." Wall Street Journal

      Commenter
      Hidy Ho
      Date and time
      April 11, 2014, 4:49PM
      • Any one else here fuelled up on coke apart from no banks??

        Commenter
        Dicky Fuld.
        Date and time
        April 11, 2014, 4:35PM
        • "US exports of liquefied natural gas are likely to undercut the most expensive Australian projects by about 30 per cent, providing healthy margins for owners of the US projects, according to JPMorgan."

          LMAO!

          Commenter
          JP Morgan Shareholder
          Date and time
          April 11, 2014, 4:30PM
          • If negative gearing on residential property is going to be continue to be allowed perhaps it should be limited only to new dwellings. That way construction is stimulated, giving a boost to employment and the housing stock is added to. Some State gov'ts have generous rebates of up to $12,500 if your build a new home and then rent it out to low income earners at less than market rent. An unintended consequence though is that the construction of new dwellings could blow out so that many stay empty, our own equivalent of China, Spain's & Irelands ghost towns.

            Commenter
            mitch of ACT
            Date and time
            April 11, 2014, 4:24PM
            • Yeah. While other countries invest in productive assets we invest in houses and apartments with $500k of DEBT, rent them out for $350 a week, then pass on the losses to the tax payer. Meanwhile our stock market is around 2006 levels. Not a great outcome or prospects for the future is it?

              Commenter
              Hard Decisions
              Date and time
              April 11, 2014, 4:46PM
            • Correction: That should have been:
              Our tax system favours investors OVER first home buyers.

              Read more: http://www.smh.com.au/business/markets-live/markets-live-coke-fuelled-selloff-20140411-36gri.html#ixzz2yYXCj49Y

              Commenter
              Buff
              Location
              Sydney
              Date and time
              April 11, 2014, 4:19PM
            • Mitch: wrong again, some truck drivers (and even the ones on here) can earn between 100 to 200k (for dangerous good delivery.)

              Commenter
              DR
              Location
              syd
              Date and time
              April 11, 2014, 4:18PM
          • Reluctant to buy today, even on a big down day but did take up eligibility in the ABP SPP @ $2.26 for the full $15k. Here's hoping acceptances are in full and the share price stays well north of the SPP price, currently $2.40. Hint always maintain a small holding in stocks that have SPPs at a good discount. Property trusts, LICs and utilities are good candidates. I only had a small holding in ABP for just that reason having sold off most of my holding for a good profit a lot earlier.

            Commenter
            mitch of ACT
            Date and time
            April 11, 2014, 4:16PM
            • 1900 is a number much smaller than 5400.

              1992 is a year earlier than 2014.

              These are pretty basic concepts to comprehend, surely?

              Commenter
              pass the red
              Date and time
              April 11, 2014, 4:12PM
              • 1900 was also a year...now im confused

                Commenter
                Wwwish Lion
                Location
                Moes Bar - its Friday
                Date and time
                April 11, 2014, 4:28PM
              • money can only be made shorting

                Commenter
                allan
                Date and time
                April 11, 2014, 4:30PM
              • A lot of people mention the accumulation index. Please post a reference to the accumulation index in 2007 and now. Thanks.

                Commenter
                Harvey
                Date and time
                April 11, 2014, 4:04PM
            • "Each year Australians enjoy about $36 billion worth of tax breaks on the family home.

              Read more: http://www.smh.com.au/business/markets-live/markets-live-coke-fuelled-selloff-20140411-36gri.html#ixzz2yYRh6aIm

              What absolute rubbish. Yes and how many tax breaks does someone on $16,000 a year get. Do you want to atx them. What convoluted thinking that is proposed now !

              Does it start on the basis of everything should be taxed at 100 % and then we give breaks to certain ares? Madness.
              Totally irrational idea of taxation.

              Commenter
              Harry Rogers
              Date and time
              April 11, 2014, 4:00PM
              • It is good that govt. is thinking about fixing unfair and illogical negative gearing problem. Why ATO should pay for your investment gone sour - that was your decision and you should bear the losses. It will go a long way in reducing housing bubble. Good Thinking from Joe.

                Commenter
                xyz
                Date and time
                April 11, 2014, 3:57PM
                  • Definitely. About as basic as the difference between a standard index and an accumulation index.

                    Commenter
                    Chumlee
                    Date and time
                    April 11, 2014, 3:55PM
                  • Another example of someone manipulating numbers to their favour. You are making the heights of pre-GFC levels sound like they were the norm.

                    Commenter
                    bbbbarrel
                    Location
                    Melbs
                    Date and time
                    April 11, 2014, 3:50PM
                • I should buy one or two of the stocks I've got my eye on but their prices have hardly moved. I expect the Dow will recover just a little tonight so our Monday will be flat (it's usually -ve) so perhaps see what happens then, no hurry. After all it's a weekend, there could be a war, or a natural disaster

                  Commenter
                  mitch of ACT
                  Date and time
                  April 11, 2014, 3:44PM
                  • @Gregorio, the tax breaks given to negative gearing only serves to push up the price of real estate. Likewise, abolition of stamp duty would have little effect on the supply/demand curve for property. We need to get away from this obsession with real estate as an investment. Houses are for people to buy and live in. Why do we celebrate rising real estate prices? It is simply inflation. Our tax system favours investors or first home buyers. Perhaps there's an argument for negative gearing for new developments if it was to increase supply.

                    Commenter
                    Buff
                    Location
                    Sydney
                    Date and time
                    April 11, 2014, 3:37PM
                • 5400 is a lower number than 6800.

                  2006 is a prior year to 2014.

                  These are pretty basic concepts to comprehend surely?

                  Commenter
                  Pretty Basic Stuff
                  Location
                  Omnipresent
                  Date and time
                  April 11, 2014, 3:33PM
                  • Another example of someone manipulating numbers to their favour. You are making the heights of pre-GFC levels sound like they were the norm.

                    Commenter
                    bbbbarrel
                    Location
                    Melbs
                    Date and time
                    April 11, 2014, 3:50PM
                  • Definitely. About as basic as the difference between a standard index and an accumulation index.

                    Commenter
                    Chumlee
                    Date and time
                    April 11, 2014, 3:55PM
                  • A lot of people mention the accumulation index. Please post a reference to the accumulation index in 2007 and now. Thanks.

                    Commenter
                    Harvey
                    Date and time
                    April 11, 2014, 4:04PM
                • The BoM radar in Cairns is starting to look interesting. Well worth keeping an eye on over the next few days.
                  http://www.bom.gov.au/products/IDR191.loop.shtml

                  Commenter
                  mitch of ACT
                  Date and time
                  April 11, 2014, 3:28PM
                  • i don't get the argument against negative gearing.i paid stamp duty when i bought my rental property,i pay land tax,i pay gst on all the inputs,it's now positively geared so i pay income tax and i'll pay capital gains tax if i sell it.how much tax is enough?i don't think government want's us to have any money at all.we're not all fat greedy landlords,i'm a truck driver and had to work hard to try and give some financial security to my family.

                    Commenter
                    gregorio
                    Location
                    kyneton
                    Date and time
                    April 11, 2014, 3:03PM
                    • by making housing unaffordable for the next generation?
                      Why should you get tax breaks even if you don't add to existing housing stock?

                      Commenter
                      worried33
                      Date and time
                      April 11, 2014, 3:27PM
                    • If you're a truck driver your income was probably never high enough to give you a significant tax benefit from negative gearing. NG is only worth it for the top marginal raters.

                      Commenter
                      mitch of ACT
                      Date and time
                      April 11, 2014, 3:30PM
                    • fair call and believable.

                      Commenter
                      BearshapedBull
                      Location
                      Nonbottompickers Lounge
                      Date and time
                      April 11, 2014, 3:33PM
                  • Technically, the market trend shows weakening with divergence starting to appear. Is this the start of the correction the market is anticipating?

                    The bulls have been right so far no doubt, but this has been overfueled by various "rabbits out a hat" by the Fed and other central banks. How long can this continue before the markets truly lose faith in the 'system'?

                    I'm not sure... the fate of the ASX is tied ultimately to what happens in US and China, both of which have less than positive fundamentals. The outlook is cloudy at best IMO.

                    Commenter
                    madjae
                    Date and time
                    April 11, 2014, 2:41PM
                    • What does the future hold for Australia? We have record/close to record house prices with the losses on investment properties being subsidized through the ATO. A record 177% household DEBT level. Record federal government DEBT. Record state DEBTs. Record council DEBTS. A stock market at 2006 levels. A proposal from Joe Hockey to raise the pension age. And an increase in new 40 year mortgage products.

                      This is a very sad state of affairs indeed for such a wonderful country with so much potential.

                      This country has given me a wonderful life. The Gold Coast must be one of the most comfortable places in the world to live. I can easily afford to travel anywhere in the world anytime I feel like it and just jump on a plane at either Coolangatta airport or Brisbane airport. I have the time and resources to just chill out every day and read the papers and work on my businesses and investments at a pace that suits me. So I will always cope fine with all the above mentioned problems.

                      The reason I'm writing this. The reason I am so passionate about this is for the same reason any other one of you would if you have any conscience, care for others, or hopes for future generations. Australia needs to change and address these problems. I'm not going to be one of the "I do fine out of the current system so who cares about others or the future". Australia needs to get real and get truthful with itself and start to address the serious structural problems this country has that future generations are going to pay for.

                      Commenter
                      Gordon Akman
                      Location
                      Broadbeach
                      Date and time
                      April 11, 2014, 2:11PM
                        • I made the comment today about in 2002 the opportunities were everywhere. property wine shares. not anymore. I cant see a bargain anywhere and those who did jump on the band wagon from about 2006 onwards and even more so now are sitting on a pile of debt. everything has been milked and marketed to the nth degree. there is no wriggle room left.hence why shares are flat. the only ones making money are the ones lending the money and we all know that it can all come undone for them too.although they are the most insulated.

                          Commenter
                          smilingjack
                          Date and time
                          April 11, 2014, 3:34PM
                        • Acording to Joe we are all about to do some heavy lifting. By all he does not include the well to do.

                          Commenter
                          Wally
                          Location
                          Flynn
                          Date and time
                          April 11, 2014, 3:48PM
                      • Down over 1%. Quite a few clueless calls this morning. LOL.

                        Commenter
                        Harvey
                        Date and time
                        April 11, 2014, 1:59PM
                        • And even more clueless yesterday pushing the market up only to lose it all today.

                          Commenter
                          mitch of ACT
                          Date and time
                          April 11, 2014, 3:38PM
                      • "(CCL) Shares are currently down 14 per cent at $9.79, suffering their biggest slump in 23 years."

                        Apparently it's not bearish at all. It's because the new ceo manufactured a sales slump by standing in front of coke vending machines and not letting people buy the daily caffeine and sugar fix.

                        Commenter
                        Harvey
                        Date and time
                        April 11, 2014, 1:58PM
                        • How I wish Marc Faber just keep his mouth shut so his predictions will eventually come true.

                          Commenter
                          hammer
                          Date and time
                          April 11, 2014, 1:57PM
                          • To celebrate Tech Wreck day, thought it timely to jump on the Xero bandwagon.

                            Very specy, but with a 12 month view, it could be a good buy at under $30.

                            Commenter
                            Learner
                            Location
                            Melbourne
                            Date and time
                            April 11, 2014, 1:51PM
                            • It has a long way to fall in the next 12mth unfortunately.

                              Commenter
                              DR
                              Location
                              syd
                              Date and time
                              April 11, 2014, 3:30PM
                            • @learner
                              good luck im hovering but wait till next week was kind once,but volatility lately has been quite a ride,see what wall st does 2night might change things. MACDS are definitely bearish but thats always lagging.

                              Commenter
                              BearshapedBull
                              Location
                              Nonbottompickers Lounge
                              Date and time
                              April 11, 2014, 3:37PM
                          • In the past sugar has been a profitable trade for people like Warren Buffet. Now the general population is more educated about the health issues, I think its going to be a tougher market for "Big Sugar"

                            Commenter
                            Grizzly Adams
                            Date and time
                            April 11, 2014, 1:49PM
                            • I bought BOG shares for $17 in 2007. Since 2007 the dividend has been falling and is still below 2007 levels (before even factoring in inflation). How much profit have I made so far?

                              Commenter
                              BOQ Investor
                              Location
                              Real World
                              Date and time
                              April 11, 2014, 1:37PM
                              • What are BOG shares?

                                Commenter
                                Harvey
                                Date and time
                                April 11, 2014, 3:20PM
                              • Ones that are lower than they were in 2007 and smell bad?

                                Commenter
                                BOG Investor
                                Location
                                Ok you got me there
                                Date and time
                                April 11, 2014, 3:41PM
                              • Harvey, BOG shares are when ones feet are stuck in the past.

                                Commenter
                                Learner
                                Location
                                Melbourne
                                Date and time
                                April 11, 2014, 3:47PM
                            • Sold SCP @ 1.71
                              Buy CCL @ 9.82

                              Commenter
                              Wwwish Lion
                              Location
                              Moes Bar - its Friday
                              Date and time
                              April 11, 2014, 1:23PM
                                • @Wwwish you must love those loss-makers ending in L, ORL now CCL. Just pray that you don't get caught by the "day-after effect" where those unable to sell-out of a company announcing a bad result on the day, sell out the next day triggering a further fall in the share price that triggers further sell-outs from those who bought on day one and longer-term holders who panic sell or have Stop Loss orders triggered.

                                  Commenter
                                  mitch of ACT
                                  Date and time
                                  April 11, 2014, 1:55PM
                                • need volumes

                                  Commenter
                                  DR
                                  Location
                                  syd
                                  Date and time
                                  April 11, 2014, 2:03PM
                                • @mitch, well played! Yes I do seem to be forming a trend... Still holding and praying for ORL to do something around this time next year...Good thing not all my holdings are going the same way (yet?). ps the SCP i got at 1.50, so im happy getting out at 1.70

                                  Commenter
                                  Wwwish Lion
                                  Location
                                  Moes Bar - its Friday
                                  Date and time
                                  April 11, 2014, 3:49PM
                                • @DR, nothing huge these are not major holdings for me, only $5k parcels

                                  Commenter
                                  Wwwish Lion
                                  Location
                                  Moes Bar - its Friday
                                  Date and time
                                  April 11, 2014, 3:51PM
                              • Charlie Aitken’s view that HFT accounts for about one third market turnover finds a parallel here in this blog with the same percentage being High Frequency Trolling.

                                Commenter
                                Learner
                                Location
                                Melbourne
                                Date and time
                                April 11, 2014, 1:21PM
                                • RE: Michael Pascoe

                                  "By way of contrast with the Fabers and Harry Dents of the world, this morning I chaired Professor Warwick McKibbin addressing a Perth Institute of Chartered Accountants breakfast.

                                  To greatly condense and paraphrase his presentation, the US is growing nicely, China will handle its challenges and do all right, but Europe remains a dangerous mess. Japan is taking a step forward towards firing its vital "third arrow" of reform – and Australia is growing quite well with our currency likely to cop upwards pressure over the next five years thanks to our relative strength and attractiveness for foreign investors."

                                  That all sounds very nice Michael but did anyone at your Perth breakfast explain why FMG isn't an $11.90 stock anymore or why the ASX is trading at 2006 levels?

                                  Commenter
                                  Gordon Akman
                                  Location
                                  Broadbeach
                                  Date and time
                                  April 11, 2014, 1:19PM
                                  • a few quotes from Mr McKibbin crca 2011
                                    RESERVE Bank board member Warwick McKibbin has warned that Australia is being caught up in a global bubble that could hit us much harder than the global financial crisis and expose the weaknesses of Labor's economic settings.

                                    Professor McKibbin told The Australian the bubble in global commodity prices and property markets in Asia threatened to dwarf the US housing market bubble that led to the GFC in 2008. He warned that the inevitable bursting of the bubble would reverse the surge in Australia's record high terms of trade, push down the dollar and leave the Reserve Bank struggling to fight off rising global inflation pressures.

                                    "This is shaping to be much bigger than 2004 to 2007," he said in comparing the new excess of global liquidity with the global financial bubble that led to the worst global financial crisis since the 1930s.

                                    "This cycle is even bigger."

                                    like ALL economists - wouldnt know if their bum was on fire.

                                    Commenter
                                    smilingjack
                                    Date and time
                                    April 11, 2014, 1:38PM
                                  • @ Gordon Akman, "did anyone at your breakfast explain why FMG "isn't an $11.30 stock anymore?".

                                    I note that no one asked why FMG isn't a $3 stock anymore, either.

                                    Maybe they were mindful of a comment from a certain Gordon Akman a little while ago "why is it such a hard concept for people to grasp that asset prices go up and down"?

                                    Commenter
                                    pass the red
                                    Date and time
                                    April 11, 2014, 1:49PM
                                  • There is a reason Michael Pascoe is a finance writer for national newspapers, and hotshot 'traders' are limited to inane comments on an anonymous blog.

                                    Why would a hotshot 'trader', who makes 500% gains on hotshot US assets (not lose 35% of his capital & then crow about 4% dividends, (on Aussie stocks) really need to quibble about whether he pays $20 or $6 brokerage on his trades. Quibbling about $14 brokerage per trade speaks volumes about the 'trader's' 'trading' capital IMO.

                                    Commenter
                                    Market
                                    Location
                                    Analyst
                                    Date and time
                                    April 11, 2014, 1:58PM
                                  • Not to mention that if all the money invested on horses was borrowed money, then there would be real concern

                                    Commenter
                                    colin
                                    Location
                                    melbourne
                                    Date and time
                                    April 11, 2014, 3:08PM
                                • Finally getting ready to pull the pin on CBA. bought them in Dec 2012 for $60 so it has been a nice 17 months or so. Sure I will miss the dividends but a sizeable correction is not far off and will get back in later.

                                  I recall someone shorted at $60 the same time that I bought, was I just lucky or was his call informed? I will let you decide on that one

                                  Commenter
                                  Pig Iron Bob
                                  Location
                                  Pilbara, WA
                                  Date and time
                                  April 11, 2014, 1:10PM
                                  • Link?

                                    Commenter
                                    I doubt it
                                    Date and time
                                    April 11, 2014, 2:08PM
                                  • aren't u the one who shorted it lol

                                    Commenter
                                    Pig Iron Bob
                                    Location
                                    Pilbara WA
                                    Date and time
                                    April 11, 2014, 3:36PM
                                • Great headline..."Coke Fuelled Sell-Off"....

                                  Commenter
                                  Well Played
                                  Date and time
                                  April 11, 2014, 1:04PM
                                  • i'm off my rocker on coke too...but i a'int buying yet!

                                    Commenter
                                    no banks .. no party!
                                    Date and time
                                    April 11, 2014, 1:40PM
                                  • Was hoping for "Coke fuelled frenzy"

                                    Commenter
                                    DR
                                    Location
                                    syd
                                    Date and time
                                    April 11, 2014, 2:30PM
                                • DJs fuelled rise yesterday, coke fuelled sell off today, I'm buying fuel shares:)

                                  Commenter
                                  Grizzly Adams
                                  Date and time
                                  April 11, 2014, 1:03PM
                                  • Market down ACR up,market up ACR down is there a pattern?......though the comebacks seem to always be lower than the bounces,its like someone intercepts the ball and takes the air out.

                                    Commenter
                                    BearshapedBull
                                    Location
                                    ACRed again
                                    Date and time
                                    April 11, 2014, 1:00PM
                                    • These job figures actually show an increase in unemployment and a decrease in disposable income I wonder when the so called "expert economists" will examine the figures more closely and reveal the truth ???"

                                      Commenter
                                      tomcat
                                      Date and time
                                      April 11, 2014, 12:47PM
                                      • I was talking to my broke yesterday and he suggested in very strong terms that I should sell.

                                        Said it was circa 30% over-valued. Of course we debated it and we have agreed that we wait until $80 before we sell.

                                        Wish me luck!

                                        Commenter
                                        which bank?
                                        Date and time
                                        April 11, 2014, 12:30PM
                                        • your broke what?
                                          record?

                                          Commenter
                                          BearshapedBull
                                          Location
                                          Pamplona
                                          Date and time
                                          April 11, 2014, 12:43PM
                                        • would this be the same "broke" who convinced you to buy in the first place telling you how much value there was?
                                          why are they called brokers - because they get paid either way - every time you buy and every time you sell. you end up broker.

                                          Commenter
                                          smilingjack
                                          Date and time
                                          April 11, 2014, 1:19PM
                                        • fail: to fall short of success or achievement in something expected, attempted, desired, or approved: The experiment failed because of poor planning.

                                          Commenter
                                          LOL
                                          Date and time
                                          April 11, 2014, 1:31PM
                                        • Sorry guys it is a private joke, I hail from Broke in NSW and we call them affectionately after our home town. Almost a good spot all the same!

                                          How's your day going? Doing ok here, went for broke on PNA at $1.60 and sold at $1.645. Party night tonight!

                                          Commenter
                                          which bank?
                                          Date and time
                                          April 11, 2014, 1:52PM
                                        • Lol at SJ

                                          Commenter
                                          Ryan
                                          Date and time
                                          April 11, 2014, 2:29PM
                                      • buy 10000 AZV @ 29.5c doubled up.

                                        Commenter
                                        BearshapedBull
                                        Location
                                        Land of 4%
                                        Date and time
                                        April 11, 2014, 12:29PM
                                        • Brave. I to looking at getting in but may have more pull back in her yet?

                                          Commenter
                                          Bear
                                          Location
                                          Shooter
                                          Date and time
                                          April 11, 2014, 1:34PM
                                        • @bearshooter
                                          At least they do make a profit,which seems to be a dying trend lately.And quite a healthy growth as well, comparing 2012,2013 expect great things.Avg @ 21.5c now happy to accum.

                                          Commenter
                                          BearshapedBull
                                          Location
                                          Nonbottompickers Lounge
                                          Date and time
                                          April 11, 2014, 3:31PM
                                      • I am one of those who doubted China who shorted FMG @ $3.75

                                        Will it ever return to those levels or am I better off cutting my losses

                                        Commenter
                                        Edwina
                                        Date and time
                                        April 11, 2014, 12:26PM
                                        • I bought them at $11.90. How good am I going?

                                          Commenter
                                          Charlie Aitken
                                          Date and time
                                          April 11, 2014, 1:30PM
                                      • Marc Faber is correct. The current valuations in global equities are far too high. Those patting themselves on the back because the GFC2 crash hasn't happened yet are just gamblers.

                                        http://static.safehaven.com/authors/long/31661_b.png

                                        Equities are overbought with leverage using cheap money. This is an entirely undesirable outcome of QE I II and III.

                                        An unprecedented $100T of global debt has been great for bank revenues but will be a disaster for anyone who doesn't cash out in time.

                                        Commenter
                                        Harvey
                                        Date and time
                                        April 11, 2014, 12:25PM
                                        • How can a stock be obviously "over sold" and a screaming buy at 71 cents then be a screaming sell a few weeks later for 60 cents? Who thinks like that? What sort of profits does such a way of thinking achieve?

                                          Commenter
                                          Warwick Moss
                                          Location
                                          The Extraordinary
                                          Date and time
                                          April 11, 2014, 12:21PM
                                          • @ mossy, try www.daytrading.com

                                            it will explain it all pretty succinctly there for you

                                            Commenter
                                            teacher
                                            Date and time
                                            April 11, 2014, 12:48PM
                                          • Thank you teacher but there was no answer there. I also tried googling "How does 60 cents - 71 cents = profit" but still no answer to this mystery.

                                            Commenter
                                            Warwick Moss
                                            Location
                                            The Extraordinary
                                            Date and time
                                            April 11, 2014, 1:34PM
                                        • Those EWC bottom feeders at it again...stop nibbling go for a big chomp!
                                          Make those shorters wish they never got into the water!

                                          Commenter
                                          Ox
                                          Location
                                          Kensi Pk
                                          Date and time
                                          April 11, 2014, 12:08PM
                                          • What I find interesting as we glance over the ASX around these October 2006 levels is how people just morph facts to suit whatever they want to believe.

                                            Every day you have child like minds on here trying to invent some imaginary world where everyone who has ever went long a stock has 100% of funds long all the time and anyone who has ever shorted a stock has 100% of funds short all the time.

                                            Why is it such a hard concept to grasp that asset prices go up and down and it takes two sides of a trade to make a transaction?

                                            Commenter
                                            Gordon Akman
                                            Location
                                            Broadbeach
                                            Date and time
                                            April 11, 2014, 12:05PM
                                            • So cyclone ITA is going to make life interesting for insurance companies. There will be claims for the immediate damage but all that rain that the cyclone will bring has to go somewhere so I expect lots of claims for flood damage extending far and wide. Mid-April also seems very late in the season for a category 5 so perhaps further evidence that climate change is extending the severity and duration of severe weather events.

                                              Commenter
                                              mitch of ACT
                                              Date and time
                                              April 11, 2014, 11:54AM
                                              • "further evidence", give us a break, it's a cyclone and they having been coming and going at various times since adam was a boy. i remember my old man telling me that a cyclone caused damage to the geraldton wharf in WA in 1956. cyclones do not visit geraldton as a rule, so I am guessing we could say that this was the beginning of climate change. About as relevant!

                                                Commenter
                                                ajay137
                                                Date and time
                                                April 11, 2014, 12:11PM
                                              • Nice to see your trying to score some points for climate change but shame that you are wrong.
                                                "The typical Australian tropical cyclone season:

                                                has most tropical cyclones between 1 November and 30 April;"

                                                There has also been less tropical cyclones this season than on average and less than predicted by BOM.

                                                Take your point scoring elsewhere.

                                                Commenter
                                                David
                                                Location
                                                Sydney
                                                Date and time
                                                April 11, 2014, 12:26PM
                                              • Not late at all if you give it a reasonable time frame. Lrn2BOM.

                                                Commenter
                                                ALittleToTheRight
                                                Date and time
                                                April 11, 2014, 12:30PM
                                              • Those who stick head in sand over climate change leave bum in air for Mother Nature to give good swift kick.

                                                Commenter
                                                mitch of ACT
                                                Date and time
                                                April 11, 2014, 12:43PM
                                              • One of the only industries taking Climate change well and truly into account is the Insurance industry.. since the QLD floods new maps have been drawn to make sure those in the way of natural disaster are excluded from cheap insurance and their risk is adequately priced. Which is why most choose not to insure.. Councils and government bodies have been hit with huge rises as they have deliberately placed stuff in harms way.. building inadequate bridges and roads that become rivers.. Insurers also have reinsurers to mitigate risk.. as they manage risk for a living.. sure when bad stuff does not happen they make a motza but in normal years it is a predictable return of not very much.

                                                Commenter
                                                Lean Too
                                                Date and time
                                                April 11, 2014, 1:19PM
                                              • OK Dave then why are insurance premiums in cyclone/storm/flooding areas attracting larger and larger loadings? The insurance companies themselves say climate change. If you could get me a lower price for insurance on my Nth Qld rentals it would be most appreciated

                                                Commenter
                                                colin
                                                Location
                                                melbourne
                                                Date and time
                                                April 11, 2014, 1:21PM
                                              • Even scientists admit that there are not enough data points for statistically relevent evidence for cyclones being linked to global warming. Although it would make sense it is linked.

                                                Why the hell is it so cold in elbourne today, please warm up a little?

                                                Commenter
                                                Wwwish Lion
                                                Location
                                                Melbourne
                                                Date and time
                                                April 11, 2014, 1:46PM
                                              • Do I look like an insurance broker Colin?
                                                Insurance companies aim to make a profit, if they can scalp a few extra dollars of you every year well good luck to them, nobody will stop them, their shareholders certainly won't.
                                                If you are silly enough to have your capital invested in a cyclone and flood prone property not my fault!

                                                Commenter
                                                David
                                                Location
                                                Sydney
                                                Date and time
                                                April 11, 2014, 1:47PM
                                              • The ardent climate change deniers would say that the insurance companies are jacking up their premiums and using climate change as an excuse to rip off their clients. The trouble with that argument is that in many cases the premiums have gone so high that people drop their insurance. Why would any business lift its prices so high that it prices itself out of the market unless it can see that the risk outweighs the reward.

                                                Commenter
                                                mitch of ACT
                                                Date and time
                                                April 11, 2014, 1:48PM
                                              • Insurance companies cannot afford to dismiss climate change mathematics with a wave of a hand and an emotional four word slogan or they'll quickly go bust. Politicians, on the other hand, can always get taxpayers to clean up the mess, and by then they will be comfortably retired.

                                                Commenter
                                                Catch 22
                                                Date and time
                                                April 11, 2014, 2:26PM
                                              • @Colin,
                                                Previously flood damage was not covered. Some bright spark decided that it should be so now we all pay higher premiums and insurance companies make sure they never have to pay out by charging such high premiums in flood prone areas that no one can afford it.

                                                Commenter
                                                Chumlee
                                                Date and time
                                                April 11, 2014, 2:59PM
                                              • @Lean Too

                                                Half right. The problem is not climate change, but that people are now building in areas where damage happens and had always happened. As overpopulation plus greater recreation time kick in, holiday and other commercial ventures are being built where nobody historically has built. Why? Because they know it gets flattened regularly over the last hundreds [or more in many cases] of years. General Insurance companies always try to keep premiums fair across the board [principle of insurance etc], but sometimes they have a significant review of an area with better claim data, usually following flood, storm, fire. Better data, bigger risk = more likely to come up on the radar for a re-rate.

                                                Commenter
                                                ALittleToTheRight
                                                Date and time
                                                April 11, 2014, 3:02PM
                                              • Cyclone season traditionally finishes at end of month. Insurance coys provision for cyclone events. Insurance is priced to risk. CGU charges $5K to ensure $250K house in Cairns. Budget insurance coys like Youi refuse to insure in Cairns.

                                                Commenter
                                                Seb Gonzo
                                                Location
                                                New farm
                                                Date and time
                                                April 11, 2014, 3:10PM
                                            • ORG keeps delivering, every time I think about selling up pops another cheque.

                                              Just checked the the CBA bank account and pleasantly surprised to see my 25c per share dividend locked away for the next fishing trip.

                                              The guy on here that shorted at $12 would be feeling like re-ORGanising his trade, surely!

                                              Commenter
                                              ORGan donor
                                              Date and time
                                              April 11, 2014, 11:52AM
                                              • i am reasonably confident that was allan

                                                Commenter
                                                Mister5100
                                                Date and time
                                                April 11, 2014, 12:18PM
                                              • one thing i would like to know with shorting is what happens with the dividend, do they have to pay it, by when and how?

                                                Commenter
                                                new trader
                                                Date and time
                                                April 11, 2014, 12:21PM
                                              • Opening position and current position are two different things. You need to know his current position. And gee 25c zero franking isn't going to worry a shorter.

                                                Commenter
                                                Harvey
                                                Date and time
                                                April 11, 2014, 4:08PM
                                            • How hard is it to be a doomsayer. Faber et al have been at it since the GFC. Day in day out they predict doom. So what is everyone to do? Just stop and wait and wait.

                                              Commenter
                                              Wally
                                              Location
                                              Flynn
                                              Date and time
                                              April 11, 2014, 11:44AM
                                              • no keep paying stamp duty to the gov for every trade and the same to your broker.
                                                the bank aways wins.

                                                Commenter
                                                smilingjack
                                                Date and time
                                                April 11, 2014, 1:25PM
                                              • Wally is 100% correct. Once they are bearish they can't change their tune. Further, negative views get heard more. I have read bearish articles ever since the Dow Jones was at 10,000. 60% higher and these bearish articles are still around, no bullish articles get printed. Faber has been 100% wrong yet people still believe. That's what makes the market in the end.

                                                Bull markets climb a wall of worry. If there is a crash in the next 5 years Faber et. al. will claim they were right. What a laugh, seriously.

                                                Commenter
                                                JM
                                                Location
                                                Sydney
                                                Date and time
                                                April 11, 2014, 2:34PM
                                            • The RBA may be keeping the cash rate on hold but the banks are dropping their rates on deposits with ING & RABO the latest to do so. Just as well most of my cash is on 5 year TDs @7%.

                                              Commenter
                                              mitch of ACT
                                              Date and time
                                              April 11, 2014, 11:40AM
                                              • same at Ubank...grr nab pinching pennies back.

                                                Commenter
                                                BearshapedBull
                                                Location
                                                Land of 4%
                                                Date and time
                                                April 11, 2014, 12:28PM
                                              • Interesting... Unless you booked those in the GFC you'd never get 7%. They would also be expired by about now....

                                                Commenter
                                                DR
                                                Location
                                                syd
                                                Date and time
                                                April 11, 2014, 2:13PM
                                              • I started putting cash into TDs @ 7% in April 2011 with Rabo. Just before the GFC hit I put cash with Suncorp for 3 years @ 8.05%. Talk about good timing. If only I could time my share trades that well.

                                                Commenter
                                                mitch of ACT
                                                Date and time
                                                April 11, 2014, 3:23PM
                                              • as a forward note and this is only opening a door, i looked at Aust Equity Healthcare prop units,maybe dumping some $ in for next 3 yrs returns 7-8% looks fairly solid,qtr payments compounded,...no one else contemplating?

                                                Commenter
                                                BearshapedBull
                                                Location
                                                Land of 4%
                                                Date and time
                                                April 11, 2014, 3:47PM
                                            • Hey Ed Padbury not 3.9 cents maybe 39cents when you posted I know I am watching the$ pile up cheers Jock

                                              EDs: Hmmm.. Bloomberg says 3.6 cents is the latest. See chart now attached. Cheers

                                              Commenter
                                              jock
                                              Location
                                              bali
                                              Date and time
                                              April 11, 2014, 11:31AM
                                              • hey jock lay off the arack it makes the decimal points disappear!

                                                Commenter
                                                BearshapedBull
                                                Location
                                                Pamplona
                                                Date and time
                                                April 11, 2014, 12:37PM
                                            • Hi Eds,

                                              Could u please put Copper price in need2know section?
                                              Many thanks.

                                              ED: Good point, considering there's a fair amount of interest. We can add the LME copper price.

                                              Commenter
                                              Ox
                                              Location
                                              Kensi Pk
                                              Date and time
                                              April 11, 2014, 11:27AM
                                              • I second that idea :)

                                                Commenter
                                                JJ
                                                Location
                                                NSW
                                                Date and time
                                                April 11, 2014, 1:11PM
                                            • "Don't be surprised if four horsemen start riding down Wall Street."

                                              Good time to be short.

                                              Commenter
                                              Harvey
                                              Date and time
                                              April 11, 2014, 11:11AM
                                              • There are some people knocking Faber, Gross, and others and I think putting a few things in perspective will support the Faber/Gross/Celeste/et al camp.

                                                First was the complete underestimation of the power of the Federal Reserve's QE package of $85 billion a month. This package is 'an experiment'. It jacked up asset values around the world including emerging markets. QE is on the way out, and emerging market's wobbles have been noted.

                                                Second, unemployment is dropping in the US, not because business is improving, but because people have dropped out searching for work. If you've been in this position yourself, you'll soon learn what it means trying to find water in the desert.

                                                Third, many company valuations are sky-high, not because the business is improving, but because of share buy-backs (i.e. CSL - less shares in the market) or cost-cutting, rather than organic expansion of business improvement.

                                                Fourth is the involvement of High Frequency trading and rigged markets. Investors are now starting to realise that the market highs and valuations of stocks are...well...false. They're not true market valuations - a level that's agreed upon by buyers and sellers with supply and demand fundamentals present.

                                                It's only a matter of time when investors realise these aspects, and down she'll go. And boy, will it hit hard. GG.

                                                Commenter
                                                Gordon Gekko
                                                Location
                                                Greg Coffey World
                                                Date and time
                                                April 11, 2014, 11:11AM
                                                • Good post GG

                                                  Commenter
                                                  mushroom
                                                  Date and time
                                                  April 11, 2014, 11:33AM
                                                • Touche`

                                                  Commenter
                                                  MrSteve
                                                  Date and time
                                                  April 11, 2014, 11:43AM
                                                • Nice GG,

                                                  Don't worry though everyone else will keep ignoring the real economy and just ask Janet for some extra dovishness and she'll be right.

                                                  Commenter
                                                  Opinion Only
                                                  Location
                                                  Melbourne
                                                  Date and time
                                                  April 11, 2014, 12:08PM
                                                • However, The EU is now about to start it's own QE program, coincidentally at around the same time that wall street is tapering theirs .....

                                                  Commenter
                                                  J.
                                                  Location
                                                  Syd.
                                                  Date and time
                                                  April 11, 2014, 12:35PM
                                                • @J
                                                  good point, and also wasnt china starting up the press' as well, its another flood of cash coming.

                                                  Commenter
                                                  BearshapedBull
                                                  Location
                                                  Nonbottompickers Lounge
                                                  Date and time
                                                  April 11, 2014, 4:19PM
                                              • Wipe On...Wipe Off...Wipe On...Wipe Off

                                                Commenter
                                                Karate Kid
                                                Location
                                                Temple
                                                Date and time
                                                April 11, 2014, 11:06AM
                                                • So how much of the value on the ASX being consigned to the ether today is being done by real live humans and how much by computers acting on the "Sell" signals from o/seas, ie acting on instructions with no analysis. Shouldn't complain though. Dumb robots creating buying opportunities.

                                                  Commenter
                                                  mitch of ACT
                                                  Date and time
                                                  April 11, 2014, 10:57AM
                                                    • Yes cause only humans buy stocks and computers/"robots" sell stocks. That can be the only way.........

                                                      Commenter
                                                      DR
                                                      Location
                                                      syd
                                                      Date and time
                                                      April 11, 2014, 11:12AM
                                                    • So a market just off it's highs for the last 5 years and most of the banks just shy of all time record highs are buying opportunities?
                                                      Hold your powder for real opportunities I reckon.

                                                      Commenter
                                                      Grizzly Adams
                                                      Date and time
                                                      April 11, 2014, 11:19AM
                                                    • Did I say anything about the banks as buying opportunities. They are priced too high, even with today's falls, to add any more.Plenty of other stocks paying good dividends that will be sold down, hopefully. I have my eye on 6 that will pay dividends/distributions in the next 3 months.

                                                      Commenter
                                                      mitch of ACT
                                                      Date and time
                                                      April 11, 2014, 11:32AM
                                                    • follow the volume ....

                                                      Commenter
                                                      jezza
                                                      Date and time
                                                      April 11, 2014, 12:57PM
                                                  • So Alison, if successful getting the role with CCL what would be your first actions.

                                                    Well I will lower the market expectation of what ill deliver, dropping the share price, ill then buy shares cheap, over deliver on the expectations I already lowered and make a furtune on my shares I picked up cheap.

                                                    Thats excellent Alison, your hired. Just make sure the ASX notification of you buying the shares is a few days after the profit warning.

                                                    Commenter
                                                    Wwwish Lion
                                                    Location
                                                    Melbourne
                                                    Date and time
                                                    April 11, 2014, 10:57AM
                                                    • LOL, Lion, textbook 101 for incoming CEO.

                                                      Commenter
                                                      pass the red
                                                      Date and time
                                                      April 11, 2014, 11:28AM
                                                    • Incoming govt's do the same thing.

                                                      Commenter
                                                      mitch of ACT
                                                      Date and time
                                                      April 11, 2014, 11:53AM
                                                    • Did she also stop some sales so that she could invent a 15% drop in earnings? Seriously the perma bulls on here will believe anything.

                                                      Commenter
                                                      Harvey
                                                      Date and time
                                                      April 11, 2014, 12:40PM
                                                    • Don't have much experience of the real world, do you Harvey? The results for CCL this year will be bad, and I'll bet you there are asset write downs, provisions for future events, deferment of revenues to next year and acceleration of costs into this year. I could teach you a hundred tricks on how to dress up or dress down accounts. But the one constant is that any new CEO will want the worst possible results for 2014, because they belong to past management. Not saying CCL doesn't have business challenges, but for the near term they will be painted in the worst possible light.

                                                      Commenter
                                                      pass the red
                                                      Date and time
                                                      April 11, 2014, 1:01PM
                                                    • Earnings before significant item.... ie sales are down. The rest is your own invention. P/e of 16 is too high when sales are falling. It's not mums and dads sending the share prices down.

                                                      Commenter
                                                      Harvey
                                                      Date and time
                                                      April 11, 2014, 1:55PM
                                                  • What is with Platinum and Magellan, are they taking a breather after a good run or a sign of worst things to come for these two financials and the overall market

                                                    Commenter
                                                    James M
                                                    Date and time
                                                    April 11, 2014, 10:53AM
                                                    • I beat Marc Faber by about a week. 30% down adjustment sounds just about right. for starters.
                                                      I will stick with rate cuts thanks. no way known stralya is getting rate rises anytime soon. like within the next 5 years.
                                                      massive tax rises for sure. and everyone will be having a good hard look at the super pool thinking how can we get hold of that. maybe just a "one off" tax or withhold allowing access to it for another 2 years or 4 years or 8 years.
                                                      Its amazes me that otherwise intelligent people have no idea of the financial pain that is coming.

                                                      Commenter
                                                      smilingjack
                                                      Date and time
                                                      April 11, 2014, 10:53AM
                                                      • Isn't it amazing...a good day on the market, Allan and his cronies are neither seen nor heard. The first sign of a fall, and you could just about set your watch to his/their postings.

                                                        Commenter
                                                        Tired of the rhetoric
                                                        Date and time
                                                        April 11, 2014, 10:50AM
                                                        • What do you mean good day/bad day? It's April 2014 and the ASX is trading at October 2006 levels?

                                                          Commenter
                                                          Huh
                                                          Date and time
                                                          April 11, 2014, 11:05AM
                                                        • plus 1

                                                          Commenter
                                                          ajay137
                                                          Date and time
                                                          April 11, 2014, 11:05AM
                                                        • Allan and his cronies??
                                                          Allan is his cronies.

                                                          Commenter
                                                          wiseman
                                                          Date and time
                                                          April 11, 2014, 11:21AM
                                                        • @ Wiseman, LOL, post of the week.

                                                          Commenter
                                                          pass the red
                                                          Date and time
                                                          April 11, 2014, 11:53AM
                                                      • that article at 9:50am is very interesting, APPL trading at 12x seems like a bargain compared to the other names, if only they'd release some cash back to shareholders.

                                                        Commenter
                                                        DR
                                                        Location
                                                        syd
                                                        Date and time
                                                        April 11, 2014, 10:50AM
                                                        • AAPL has been paying a quarterly dividend since Aug '12. As a holder I'd rather see them step up their buy-back program given the business has a ROE north of 30%.

                                                          Commenter
                                                          TP
                                                          Date and time
                                                          April 11, 2014, 12:52PM
                                                      • Ouch CCL. If it goes even further I'll buy some more to average out my shareholding, but otherwise continue to just hold it.

                                                        Commenter
                                                        Basic
                                                        Date and time
                                                        April 11, 2014, 10:49AM
                                                        • Oh well. Those November 2006 levels were fun while they lasted. Back down to October 2006 levels I guess.

                                                          Commenter
                                                          Shoulders Shrugger
                                                          Date and time
                                                          April 11, 2014, 10:45AM
                                                          • This is why you buy & hold:

                                                            I bought GPT some time ago as a long term hold based on its dividend yield, low P/E, low debt & the fact it was trading at significant discount to its NTA backing of $3.79.

                                                            Yesterday I figured maybe I should be open to learning from some of these blokes on here who sell at a good profit. So I sold them at around NTA backing. Today they are up another 2% on yesterday's sell price. Now I have to pay CGT on profits & hope they drop back again so I can buy back in.

                                                            Buy & Hold!

                                                            Commenter
                                                            Market
                                                            Location
                                                            Analyst
                                                            Date and time
                                                            April 11, 2014, 10:43AM
                                                            • works for good wine and land too.

                                                              Commenter
                                                              smilingjack
                                                              Date and time
                                                              April 11, 2014, 11:30AM
                                                          • Just picked up some more CCL going long cant whack a coke

                                                            Commenter
                                                            Pete the Pom
                                                            Location
                                                            Melbourne the rainy city
                                                            Date and time
                                                            April 11, 2014, 10:43AM
                                                            • BCT on a charge against the flow, showing some tech stocks can prove the market sentiments are not across the board.

                                                              Commenter
                                                              BearshapedBull
                                                              Location
                                                              Pamplona
                                                              Date and time
                                                              April 11, 2014, 10:28AM
                                                              • Woah woah woah. Slow down people. Remember what I always say "Don't rush. Just think about how long it took you to walk up the stairs" LMAO

                                                                Enjoy!

                                                                Commenter
                                                                Elisha Graves Otis
                                                                Location
                                                                Otis Elevator Company
                                                                Date and time
                                                                April 11, 2014, 10:24AM
                                                                • ASX opens sharply lower in a "coke" fueled selloff from those who sauntered around the exits yesterday hoping for a 2 day rise to magical 5500 land.......mercy

                                                                  Commenter
                                                                  BearshapedBull
                                                                  Location
                                                                  Pamplona
                                                                  Date and time
                                                                  April 11, 2014, 10:22AM
                                                                  • Speaking of tech's...how are your lot doing in fixing the bouncing screen?

                                                                    Commenter
                                                                    Happy Hippy
                                                                    Date and time
                                                                    April 11, 2014, 10:17AM
                                                                    • BDR Duckhead drill results worth a look for those with an optimistic view re goldies. Be careful though - finite amount of this super high grade gold ore. Good news nevertheless.

                                                                      Commenter
                                                                      Yin or yang
                                                                      Date and time
                                                                      April 11, 2014, 10:06AM
                                                                      • Any mining engineers out there? Is 14,018 g/t for gold really possible? I plead ignorance.

                                                                        Commenter
                                                                        Harry Rogers
                                                                        Date and time
                                                                        April 11, 2014, 10:29AM
                                                                      • 6 m tonnes @ 2,491.2 g/t gold now if thats not shining results im actually a second degree relative of a primate.

                                                                        Commenter
                                                                        BearshapedBull
                                                                        Location
                                                                        Pamplona
                                                                        Date and time
                                                                        April 11, 2014, 10:38AM
                                                                      • 31m at 490.8g/t is a little misleading given there is 1m at 14018.6g/t, the other 30m averages 39.87g/t.
                                                                        To answer your question Harry in any block model 1m at 14,018g/t would be “top cut” not to skew the results.

                                                                        Commenter
                                                                        mining engineer
                                                                        Date and time
                                                                        April 11, 2014, 12:02PM
                                                                      • If you use Cannington as an example of good grades, then anything above 300 g/t is very good. Unsure if 'bonanza' grade - may need to be a little higher than 300.

                                                                        Commenter
                                                                        ALittleToTheRight
                                                                        Date and time
                                                                        April 11, 2014, 12:51PM
                                                                      • miningengineer and a little to...

                                                                        Many thanks for the info. I am now slightly more educated.....I think ?

                                                                        Commenter
                                                                        Harry Rogers
                                                                        Date and time
                                                                        April 11, 2014, 3:51PM
                                                                    • BDR 6% straight outta the blocks
                                                                      sell,sell

                                                                      Commenter
                                                                      BearshapedBull
                                                                      Location
                                                                      Pamplona
                                                                      Date and time
                                                                      April 11, 2014, 10:05AM
                                                                      • You could well be right but note BDR drill results and I think gold stocks could prove resilient.

                                                                        Commenter
                                                                        Yin or yang
                                                                        Date and time
                                                                        April 11, 2014, 10:20AM
                                                                      • Well done @ BSB, just have to time it with BDR. Great little earner while the shorters are laying their little games.

                                                                        BDR has been a great for me for over a year now. It goes up and down faster than a brides nightie, so you got to get in and out in a hurry.

                                                                        Commenter
                                                                        The Fireman
                                                                        Location
                                                                        NSW
                                                                        Date and time
                                                                        April 11, 2014, 11:18AM
                                                                    • Faber and Roubini - they are a joke and not sure why they get so much air time. If I had listened to these guys, would have missed all the upside past couple of years.

                                                                      Commenter
                                                                      Ranjit
                                                                      Location
                                                                      Melbourne
                                                                      Date and time
                                                                      April 11, 2014, 10:02AM
                                                                      • Yea well done, except Faber said buy stocks when the S&P bottomed @ 666 in March 2009. Roubini tho, he is a hack.

                                                                        Commenter
                                                                        Bye Bye Fiat Money
                                                                        Date and time
                                                                        April 11, 2014, 10:17AM
                                                                      • In mid March 2009, Roubini's call was that the market move was a dead cat bounce and a good selling point.

                                                                        http://www.businessinsider.com.au/100-long-roubini-says-rally-is-a-dead-cat-bounce-2009-3

                                                                        Sadly many listened and are still cashed up waiting for a '87 style collapse.

                                                                        Commenter
                                                                        Sticks
                                                                        Date and time
                                                                        April 11, 2014, 10:44AM
                                                                      • Faber? He's like Chicken Little - always claiming that the sky is falling!

                                                                        Commenter
                                                                        RU Kiddinme
                                                                        Location
                                                                        Wollongong
                                                                        Date and time
                                                                        April 11, 2014, 10:58AM
                                                                    • Bank of Queensland has reported cash profits of $140.2 million for the first half, up 17 per cent year-on-year, in-line with consensus estimates. Revenue was up 8 per cent to $447.1 million, while statutory profit increased 34 per cent to $134.7 million.
                                                                      The regional bank will also confirm it will buy Investec Australia's asset finance and leasing business for $440 million, funded via an accelerated renounceable entitlement offer.
                                                                      The bank announced a boosted 32-cent interim dividend. The previous interim dividend was 28 cents, and the most recent final dividend was 30 cents.
                                                                      BoQ shares are now in a trading halt until April 16 at the latest to allow the institutional component of the capital raising.

                                                                      Commenter
                                                                      newbie
                                                                      Location
                                                                      Short the BOQ @11.20
                                                                      Date and time
                                                                      April 11, 2014, 9:59AM
                                                                      • short $11.20? ouch!
                                                                        sorry to hear it newbie

                                                                        Commenter
                                                                        Fruit loop
                                                                        Date and time
                                                                        April 11, 2014, 10:28AM
                                                                      • Good analysis well done. I thought a conservative result which in these time is good although I'm old fashioned an don't like banks relying on brokers for their loan books.

                                                                        Generally think the banks as usual are under providing bad debts but maybe this is partly covered by the new Tier capital requirements.

                                                                        I hold shares

                                                                        Commenter
                                                                        Harry Rogers
                                                                        Date and time
                                                                        April 11, 2014, 10:33AM
                                                                      • thanks for the update,hope u didnt go short.

                                                                        Commenter
                                                                        BearshapedBull
                                                                        Location
                                                                        Pamplona
                                                                        Date and time
                                                                        April 11, 2014, 11:03AM
                                                                    • Aussie market is up today!The tech sector is small in aust had no effect on oz when the last tech wreck came.Helped australia we are a resource and banking economy.

                                                                      Commenter
                                                                      Peppea Pig
                                                                      Location
                                                                      richmond
                                                                      Date and time
                                                                      April 11, 2014, 9:57AM
                                                                      • really. I worked for alcatel at the time. the biggest tech company in australia by far. we had just finished developing software and hardware for adsl. we went from 140000 staff worldwide to about 15000 in 2 years.
                                                                        all but wiped alcatel out. so much so they had to merge with lucent.ah the heady days of a growing bubble where the pay rises were huge and often. on the bright side the redundancy packages were "generous". 2002 - a great time to spend it all on real estate and vintage wine.grange was $200 a bottle and still sits in my cellar untouched. those who spent it all on shares were smashed just a few years later.

                                                                        Commenter
                                                                        smilingjack
                                                                        Date and time
                                                                        April 11, 2014, 11:05AM
                                                                    • Freefall then reality check,flat, followed by afternoon drift...just a guess.

                                                                      Commenter
                                                                      BearshapedBull
                                                                      Location
                                                                      Pamplona
                                                                      Date and time
                                                                      April 11, 2014, 9:56AM
                                                                      • The doomsayers will be beside themselves today, bless their little cotton socks.

                                                                        I hope BDR shorters don't read the latest drilling results. It will get ugly get them at some stage, of that I have no doubt!

                                                                        Commenter
                                                                        The Fireman
                                                                        Location
                                                                        NSW
                                                                        Date and time
                                                                        April 11, 2014, 9:56AM
                                                                        • "Just had a big punt on BDR, hugely oversold.
                                                                          Commenter
                                                                          The Fireman
                                                                          Location
                                                                          NSW
                                                                          Date and time
                                                                          January 24, 2014, 2:27PM"
                                                                          Read more: http://www.smh.com.au/business/markets-live/markets-live-banks-pull-asx-down-20140404-36279.html#ixzz2xsljK3z4

                                                                          Read more: http://www.smh.com.au/business/markets-live/markets-live-tech-wreck-20-20140411-36gri.html#ixzz2yX4cRJdr

                                                                          You are lucky the eds don't allow someone to simply quote you. How much did you pay for your "big punt" on BDR on 24 January?

                                                                          Commenter
                                                                          Fraud Watch
                                                                          Date and time
                                                                          April 11, 2014, 10:21AM
                                                                        • I have already responded to your post under another of your pseudonyms, is your life really that exciting that you have to cut and post my comments.

                                                                          If you insist on following my posts, at least do yourself a favour, post them all or at the very least keep up.

                                                                          I have been in and out of BDR more times Liz Taylor was in and out of wedlock.

                                                                          Commenter
                                                                          The Fireman
                                                                          Location
                                                                          NSW
                                                                          Date and time
                                                                          April 11, 2014, 11:12AM
                                                                        • I follow all comments relating to BDR and from my recollection the @The Fireman is a short term trader.

                                                                          Commenter
                                                                          "P" Plater
                                                                          Location
                                                                          NSW
                                                                          Date and time
                                                                          April 11, 2014, 11:28AM
                                                                      • Why have first home buyers deserted Australia's property market while interest rates are at "Emergency Level Record Lows"? If first home buyers either can't afford to buy or don't want to buy while interest rates are at "Emergency Level Record Lows" what will happen when interest rates rise?

                                                                        Commenter
                                                                        Green Analyst
                                                                        Date and time
                                                                        April 11, 2014, 9:55AM
                                                                        • you may end up with an oversupply of properties and if prices experience a significant fall, speculators (and there are lot of them) who took out sizable loans will be the ones who will be burnt.

                                                                          Commenter
                                                                          Pear shaped bear
                                                                          Date and time
                                                                          April 11, 2014, 11:28AM
                                                                      • Do we need Marc faber to talk about 'doom & gloom' on this platform ? We've enough 'fabers' talking about it since hmmm...

                                                                        Commenter
                                                                        clueless
                                                                        Location
                                                                        wonderland
                                                                        Date and time
                                                                        April 11, 2014, 9:54AM
                                                                        • People whose daily lunch depends on their trades will be happy that they sold yesterday as the market will get over 5500, if not today then next week. I doubt the market will fall more than 0.50% today as our markets are no way as ridiculously priced as US, especially the Techs. More than the markets I am worried about the doom & gloom parrots...

                                                                          Commenter
                                                                          clueless
                                                                          Location
                                                                          wonderland
                                                                          Date and time
                                                                          April 11, 2014, 9:52AM
                                                                          • Housing boom!

                                                                            Commenter
                                                                            16 reasons why Australia is different
                                                                            Location
                                                                            with apologies to Allan
                                                                            Date and time
                                                                            April 11, 2014, 9:48AM
                                                                            • I am considering picking up a small parcel of Xero shares this morning after it gets hammered. View of holding for medium term (2+ years). Am I totally mad?

                                                                              Commenter
                                                                              Irish Phil
                                                                              Date and time
                                                                              April 11, 2014, 9:43AM
                                                                              • Depends on your risk appetite? I think tech wreck may have further to go.

                                                                                Commenter
                                                                                Yin or yang
                                                                                Date and time
                                                                                April 11, 2014, 10:18AM
                                                                              • Just a small parcel, so my risk appetite is very high in this case. I have put in a buy order @ $26.20, so I'm hoping it does have further to fall.

                                                                                Commenter
                                                                                Irish Phil
                                                                                Date and time
                                                                                April 11, 2014, 11:29AM
                                                                            • Wall Street crash 'even worse' than 1987 is coming, says Marc Faber

                                                                              MOTHER FABER PLEASE!

                                                                              Commenter
                                                                              no banks .. no party!
                                                                              Date and time
                                                                              April 11, 2014, 9:32AM
                                                                              • http://www.youtube.com/watch?v=-I7JJChM6IQ

                                                                                Commenter
                                                                                mr niggar
                                                                                Date and time
                                                                                April 11, 2014, 9:48AM
                                                                              • Well there is a "Bad Moon Rising" on the evening of 15th April so it could happen. That's when syzygy occurs.
                                                                                http://www.smh.com.au/technology/sci-tech/bad-moon-rising-20140409-zqsmf.html

                                                                                Commenter
                                                                                mitch of ACT
                                                                                Date and time
                                                                                April 11, 2014, 9:54AM
                                                                            • Im generally bemused by the headlines on Market Live.
                                                                              "Tech reck 2.0"
                                                                              What's the relevance to Oz stocks?
                                                                              "Shares to open sharply lower"
                                                                              What an understatement!!!!

                                                                              Commenter
                                                                              DUBIOUS
                                                                              Date and time
                                                                              April 11, 2014, 9:30AM
                                                                              • Those who decided to 'sell' yesterday did well - especially the liquidation of doggies. I think we may see a 1.5% fall today. But apocalypse - I dont think so

                                                                                Commenter
                                                                                Yin or yang
                                                                                Date and time
                                                                                April 11, 2014, 9:29AM
                                                                                • hehe perfect timing, very happy with myself :)

                                                                                  Commenter
                                                                                  GS
                                                                                  Date and time
                                                                                  April 11, 2014, 9:40AM
                                                                                • Just about every time I get rid of a "doggie" a takeover offer is announced within a few days.

                                                                                  Commenter
                                                                                  mitch of ACT
                                                                                  Date and time
                                                                                  April 11, 2014, 9:56AM
                                                                                • Very happy Jock today cashed up yesterday sitting only on bdr, pdy both should soar today on announcements and ags holding with big profit had a great few weeks.

                                                                                  Commenter
                                                                                  jock
                                                                                  Location
                                                                                  Bali
                                                                                  Date and time
                                                                                  April 11, 2014, 9:59AM
                                                                                • Missed it by a day, very happy though. Sold Weds, now 75% cash. It may be a struggle to control my trigger finger today if price sharply

                                                                                  Commenter
                                                                                  Grinch
                                                                                  Date and time
                                                                                  April 11, 2014, 10:02AM
                                                                              • Faber is a broken clock of the "he's predicted 12 of the last 3 recessions" kind. I really wish this paper would do the absolute minimum of research or background into this. He's said the EXACT SAME THING in 2010, 2011, 2012, 2013 etc.

                                                                                Commenter
                                                                                andrewb
                                                                                Date and time
                                                                                April 11, 2014, 9:28AM
                                                                                • It's no different to the parade of Perma Bulls flogging overpriced stocks, predicting a new dawn of higher prices based on low interest rates, stimulus etc. As usual the truth is somewhere in the middle

                                                                                  Commenter
                                                                                  Grizzly Adams
                                                                                  Date and time
                                                                                  April 11, 2014, 10:01AM
                                                                                • Some forecasters are broken clocks
                                                                                  I've been noting Bill Evans and the kouk for the last 2 yrs have a fair record.

                                                                                  Commenter
                                                                                  mushroom
                                                                                  Date and time
                                                                                  April 11, 2014, 10:07AM
                                                                                • The broken clock analogy hardly works in the world of investing .... but I was wondering when someone would trot it out as a criticism of people like Faber. Making precise predictions in the face of a hopelessly manipulated market is difficult. Faber's critiques of the underlying LACK of fundamentals underpinning the markets are correct .... but I think a lot of market analysts underestimated the effect of QE in buoying markets and thought 'saner minds' would prevail. HEck -- even the bulls seem to ignore the effect of QE and think that there is actually growth underpinning these ridiculous valuations.

                                                                                  Commenter
                                                                                  jezza
                                                                                  Date and time
                                                                                  April 11, 2014, 1:02PM
                                                                              • Heard a week or two ago in this forum that CCA was "cheap" and a "gift". 15% hit to earnings today. ouch.

                                                                                Commenter
                                                                                DR
                                                                                Location
                                                                                syd
                                                                                Date and time
                                                                                April 11, 2014, 9:27AM
                                                                                • One of those people might have been me (mentioned SPC/Japan FTA was good) but I sold it on Wed at 30c loss.

                                                                                  In 70% cash as of yesterday and CCL is not in the 30% :)

                                                                                  Commenter
                                                                                  GS
                                                                                  Date and time
                                                                                  April 11, 2014, 9:39AM
                                                                                • Well, I still thing its a good buy... bought some under $11 & will buy more at a better price. I had also mentioned that a lower price seems likely which is why one needs to buy or sell in parcels... no one in this world can guarantee a top or a bottom, can you ??

                                                                                  Commenter
                                                                                  clueless
                                                                                  Location
                                                                                  wonderland
                                                                                  Date and time
                                                                                  April 11, 2014, 9:58AM
                                                                                • GS: serious question, what price do they have to get to now to be considered cheap?

                                                                                  Commenter
                                                                                  DR
                                                                                  Location
                                                                                  syd
                                                                                  Date and time
                                                                                  April 11, 2014, 10:47AM
                                                                                • Well considering they are constantly downgrading, I can no longer answer that. An already high-ish PE, future div being lower, I'm just no longer interested in it.

                                                                                  Who is to say they wont announce another downgrade in 6mths? As per Metcash, I'm over CCL too!

                                                                                  I want to see some them prove themselves first before I make another call on it. Currently it's a mess!

                                                                                  Commenter
                                                                                  GS
                                                                                  Date and time
                                                                                  April 11, 2014, 11:12AM
                                                                                • Whoops ignore the word "some" in the last paragraph. Reworded it and left that in by accident.

                                                                                  But yeah I need proof from CCL management before I ever consider it again.

                                                                                  Commenter
                                                                                  GS
                                                                                  Date and time
                                                                                  April 11, 2014, 11:31AM
                                                                                • Yeah, they keep saying CCA is cheap atm, there is a lot of competition to cope up with with the new German one now.

                                                                                  Everyone wants to follow Warren Buffet, doesn't work all the time.

                                                                                  Commenter
                                                                                  GrimReaper
                                                                                  Location
                                                                                  VIC
                                                                                  Date and time
                                                                                  April 11, 2014, 12:37PM
                                                                              • Praise Marc Faber! What a brave man for stating that the Federal Reserve is clueless! Personally I would go further than that, they're not clueless, they're blatantly anti-Western world.

                                                                                The Federal Reserve needs to be abolished asap.

                                                                                Commenter
                                                                                Dr No
                                                                                Location
                                                                                Sydney
                                                                                Date and time
                                                                                April 11, 2014, 9:25AM
                                                                                • No reason for an ASX drop today. I keep hearing on here that it's just the US market that's overpriced and our prices are supported by our glorious dividends.

                                                                                  We aiming for 5,500 today?

                                                                                  Any other takers?

                                                                                  Commenter
                                                                                  ALittleToTheRight
                                                                                  Date and time
                                                                                  April 11, 2014, 9:19AM
                                                                                  • Try 5,400, maybe less. Wouldn't surprise me.

                                                                                    Commenter
                                                                                    Savyinvestor
                                                                                    Date and time
                                                                                    April 11, 2014, 9:33AM
                                                                                  • It will get to 5500, if not today then next week. I doubt the market will fall more than 0.50% today as our markets are no way as ridiculously priced as US, especially the Techs.

                                                                                    Commenter
                                                                                    clueless
                                                                                    Location
                                                                                    wonderland
                                                                                    Date and time
                                                                                    April 11, 2014, 9:45AM
                                                                                  • You are totally detached from reality - just like Australian property and the A$. I am sure that reality will clobber you over the head soon.

                                                                                    Commenter
                                                                                    henry
                                                                                    Location
                                                                                    melb
                                                                                    Date and time
                                                                                    April 11, 2014, 11:24AM
                                                                                  • The market will have plenty of reasons to drop when we start dealing with the facts of life.The crash is coming, put the blinkers back on and ignore everything.

                                                                                    Commenter
                                                                                    tomcat
                                                                                    Date and time
                                                                                    April 11, 2014, 12:49PM
                                                                                • Hi Eds,

                                                                                  Could you check that Iron Ore pricing quoted in Need2Know?

                                                                                  EDs: Thanks for the heads up, fixed now. Chrs

                                                                                  Commenter
                                                                                  Fe
                                                                                  Date and time
                                                                                  April 11, 2014, 9:18AM
                                                                                  • I mentioned it yesterday, the number of IPOs in the US is a massive warning sign in itself!

                                                                                    Commenter
                                                                                    GS
                                                                                    Date and time
                                                                                    April 11, 2014, 9:10AM
                                                                                    • I thought it may have been the triple and quadruple figure P/E rations, or the multi billion dollar market caps with no profit.
                                                                                      Silly me, that doesn't matter it's all down to what the fed says it's gong to do and what the charts show.

                                                                                      Commenter
                                                                                      Grizzly Adams
                                                                                      Date and time
                                                                                      April 11, 2014, 9:32AM
                                                                                    • Yep all those things you mention and a lot of those IPOs cashing in on the same metrics.

                                                                                      You see so many people are excited and jumping over each other to buy them on day 1. All the cheering on the NYSE and the clapping and pats on their backs. No thanks!

                                                                                      Commenter
                                                                                      GS
                                                                                      Date and time
                                                                                      April 11, 2014, 9:50AM
                                                                                  Comments are now closed