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Markets Live: Shares close at 2012 high

Date

Australian shares have posted their highest close of the year, buoyed by the big miners.

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  • I can be the judge. Based on the complete disparity between the Roy Morgan and NAB results, I conclude that these surveys are rubbish. I suppose if you have a vested interest in "proving" a point either way, you can always find some numbers to back you up.
    Very similar to an "independent experts report" as mentioned by Mr Pascoe today.

    Commenter
    cranberry
    Date and time
    December 11, 2012, 2:13PM
    • That's nice that you think Mr Pascoe is an independent expert Cranberry.

      Commenter
      PDJ
      Date and time
      December 11, 2012, 3:43PM
    • Not sure if you've taken me incredibly literally or your tongue is firmly planted?

      Commenter
      cranberry
      Date and time
      December 11, 2012, 4:19PM
  • Guys, if you want to see the effect of rapid or auto trading have alook at OZL at 12;46. Soem nitwit sold $300,000 of shares at 7.06 when it has been trading at 7.25 to 7.35 one minute iether side. Soem kid with a beamer who wanted to go to lunch ?.

    Commenter
    Another Grump
    Location
    Melb
    Date and time
    December 11, 2012, 1:49PM
    • looks like someone sold 100,000 shares on market at 12.46.57... could just be a private investor in a hurry to liquidate...

      Commenter
      Seriously...
      Date and time
      December 11, 2012, 3:47PM
  • "Jumbos full of goods: US online shops target"

    Australiahttp://www.theage.com.au/business/jumbos-full-of-goods-us-online-shops-target-australia-20121211-2b6vu.html#ixzz2Ehs35rex

    Uh yeah... and why wouldn't they? Australian retailers are very slow to work out that we all know what the prices are overseas. And yet we still see this sort of thing:

    BEHANDLA Beeswax polish, colourless $14.99 in Australia www.ikea.com/au/en/catalog/products/80188705/

    vs

    BEHANDLA Beeswax polish, colourless $6.99 in the US www.ikea.com/us/en/catalog/products/40186303/

    Exact same product, more than double the price.

    Commenter
    Allan
    Location
    Prahran
    Date and time
    December 11, 2012, 1:34PM
    • TEN's recent shambles reminds me strongly of Ansett's.

      Commenter
      Another Grump
      Location
      Melb
      Date and time
      December 11, 2012, 1:14PM
      • don't see ten's position as terminal... just likely to create future opportunities to buy in at much lower prices...

        see support at existing levels maybe for a few days (difficult to be exact) more then buyers give up on stabilising and it eventually tanks to under 10 cents briefly in intraday trade... that's buying time

        Commenter
        Seriously...
        Date and time
        December 11, 2012, 3:52PM
    • Yeah great job, that's why bonuses have been cut for the workers while his bonus went up 30%. Mind you he has a history of mediocrity. NAB went nowhere with him as CEO.

      Commenter
      Allan
      Location
      Prahran
      Date and time
      December 11, 2012, 12:55PM
      • The current ICAC investigation into NSW Labor and mining licences is the best entertainment in town. Corporate Australia laid bare in all its corrupt and immoral glory. Better than anything on tv.

        The stench is palpable.

        Commenter
        Allan
        Location
        Prahran
        Date and time
        December 11, 2012, 11:55AM
        • Lyns going reeling from another regulatory stuff up. Apparently they are required under the terms of their licence to export radioactive waste but aren't allowed to due to international convention and who would take it anyway?

          A good opportunity to close shorts once it starts trading again. Shorting is fun.

          Commenter
          Allan
          Location
          Prahran
          Date and time
          December 11, 2012, 11:41AM
          • I would not be at all surprised if the Malysian governmdent forces Lynas out after they have doen the ground work and then takes over the operation themselves. It will end up in the hands of some ministers family. Its the problem dealing with corrupt governments, you never know when they are going to bite the hand....

            Commenter
            Another Grump
            Location
            Melb
            Date and time
            December 11, 2012, 1:08PM
          • with malaysia election is around the corner. i dont think the government will likely to piss off the people by granting lynas the license to extract the rare material.

            Commenter
            sam
            Date and time
            December 11, 2012, 1:41PM
        • Nice to see the iron ore miners recovering nicely at the moment...

          Any predictions for what the iron ore price will do for the remainder of December? I'm guessing the price remains volatile and rises until it hits the 130-140 trading range... would love to hear views on this from all (optimists, realists and pesimists)...

          Commenter
          Seriously...
          Date and time
          December 11, 2012, 11:24AM
          • I can't imagine it breaking above 130 unless there is some stimulus action from Beijing once the transition is completed in Feb/March.

            Commenter
            willo
            Location
            syd
            Date and time
            December 11, 2012, 12:38PM
          • Hi Seriously,
            I think that it is going to stay this side of $100 for some time. The China support thing. The stock piles don't seem to be getting any bigger despite the massive and ongoing shipments of iron ore.
            Cheers

            Commenter
            Opto
            Location
            Hi
            Date and time
            December 11, 2012, 12:46PM
          • Volatile. Prices up, I'm guessing that the strengthening GDP numbers have caused this latest surge but the Chinese export growth that came out yesterday massively undershot economists' expectations so I'm surprised that hasn't taken some of the wind out of iron ore's latest surge. Don't expect plunge though but can't see 140 in the next few weeks. Restocking of ore? We need somebody who's got their ear to this market. Major infrastructure announcements? China steel prices look stable of late after a recent recovery.

            Commenter
            Catch 22
            Location
            Gut Guesses
            Date and time
            December 11, 2012, 1:04PM
          • Stockpiles are getting bigger. That's what restocking does. DOH!

            Oh and November was the second biggest month on record for China iron ore imports and FMG barely able to make a profit. Oh dear.

            Commenter
            Allan
            Location
            Prahran
            Date and time
            December 11, 2012, 1:22PM
          • And are many or any of those high cost Chinese mines closing like they are "supposed to"?

            Commenter
            Catch 22
            Date and time
            December 11, 2012, 2:29PM
        • Labor's primary vote back down to 32%. Looks like the economy will hit the fan right around the time of the election which should see the current usurper, faceless men and corrupt NSW right slapped back into opposition. That's worth betting on.

          Commenter
          Allan
          Location
          Prahran
          Date and time
          December 11, 2012, 11:14AM
          • only if Gillard stays (or if she is replaced by Swan or Crean) will Abbott have a strong chance of winning...

            Shorten while not popular might have what it takes to make the necessary decisions to turn the party around. Not saying I like him... just saying that he is sufficiently isolated from the crappy past clangers of Gillard and co to make people judge him on what he does as leader rather than the unimpressive ALP recent past.

            I also want to see the back of Fed Labor... just don't think it's inevitable with Abbott as leader of the Libs.

            Commenter
            Seriously...
            Date and time
            December 11, 2012, 3:35PM
        • TABLE 3 - Overall performance
          *NOTE: The last column is the important one.

          Net Nick/Times Played/Accum Points/Points for place/OVERALL PLACE/TOTAL PLACE POINTS (Combined)

          Seriously.../4/26/11/1/21
          Oragelo/2/11/7/2/18
          Catch 22/4/20/10/3/17
          Another Grump/3/14/9/3/17
          Snidery Mark/4/13/8/5/13
          Oracle/1/8/4/5/13
          The New Black/4/9/6/7/10
          Dan/3/7/3/7/9
          Liberator/2/9/5/9/6
          Jonaze/1/4/2/10/5
          Space Hippy/1/3/1/11/3

          TOTAL COMPETITORS = 11

          Commenter
          Snidery Mark
          Date and time
          December 11, 2012, 10:59AM
          • Hi Guys, have i got an offer for you !. I have a little sandpit portfolio. It only has 3 stoicks in it, two of which i bought very recently, they are SIR and LYC. You may notice that both have since gone into trading halts !!!. So here is the deal if you have a company you would like to sabotage just let me know, i will start to show an interest and i jinx them for you.

            Commenter
            Another Grump
            Location
            Melb
            Date and time
            December 11, 2012, 10:55AM
            • I'd suggest TEN, but they seem to be doing a pretty good job themselves. more falls to come...

              Commenter
              Seriously...
              Date and time
              December 11, 2012, 11:01AM
            • No need.

              Our government can do that for you.

              Commenter
              Opinion Only
              Location
              Melbourne
              Date and time
              December 11, 2012, 11:05AM
            • out of curiosity what is the third stock? might make a good short (I don't mean to offend... was simply thinking of the old saying that bad luck comes in threes)

              I wouldn't give up on LYC just yet though... (don't follow SIR myself)

              Commenter
              Seriously...
              Date and time
              December 11, 2012, 11:07AM
            • AAC; so far so good, as the guy that fell out off a 30 story bulding could be heard to say as he passed each floor.

              Commenter
              Another Grump
              Location
              Melb
              Date and time
              December 11, 2012, 1:54PM
            • SIR resumed trading and still tanking.

              Grump, are you out ? :)

              Commenter
              got brain
              Date and time
              December 11, 2012, 2:29PM
            • does AAC have any debt issues is the only question I can think off... otherwise it seems a fairly unexciting business...

              Given your speculative taste in stocks the only comment I have is to suggest avoiding emotional decisions on how long or short to hold your stocks...
              (I apologise for stating the bleeding obvious...
              ...I would have appreciated the reminder in the past before some of my less 'reflective' decisions)... best of luck

              Commenter
              Seriously...
              Date and time
              December 11, 2012, 3:29PM
            • Hey got brain, no i am still in, they are still worth more than i paid so i will test the waters foir a little whiel.

              Commenter
              Another Grump
              Location
              Melb
              Date and time
              December 11, 2012, 3:51PM
          • Table 2: Average Accumulated points away from the ASX - 4 weeks.

            RUNNING BALANCE /Times Played/Accum Amt Off/Average Amt Off/Points for place/PLACE/

            Oragelo/2/37.795/18.898/11/1
            Seriously.../4/86.163/21.541/10/2
            Oracle/1/26.848/26.848/9/3
            Another Grump/3/95.947/31.982/8/4
            Catch 22/4/173.062/43.266/7/5
            Snidery Mark/4/212.099/53.025/6/6
            Dan/2/152.341/76.171 /5/7
            Jonaze/1/84.152/84.152/4/8
            Space Hippy/1/85.152/85.152/3/9
            The New Black/3/257.795/85.932 /2/10
            Liberator/3/308.643/102.881/1/11

            Competitors 11

            Commenter
            Snidery Mark
            Date and time
            December 11, 2012, 10:36AM
            • Our dollar is doing our manufacturers no favours @ $ 1.0486 and iron ore @ $123.40 and firming is likely to prop it up there. Link energy LNC is having another dash at the dollar and BSLDA is gently heading north still. Interesting.

              Commenter
              Optimist
              Location
              Hi
              Date and time
              December 11, 2012, 10:35AM
              • WEEK 4 7/12/2012
                Net Nick/Prediction/Amt off/Rank/Accum.Points/Accum Points/
                Seriously.../4540/11.758/1/86.163/7/26
                Another Grump/4530/21.758/2/95.947/6/14
                Liberator/4526/25.758/3/308.643/5/9
                Catch 22/4525/26.758/4/173.062/4/20
                Oragelo/4520/31.758/5/37.795/3/11
                Snidery Mark/4492/59.758/6/212.099/2/13
                The New Black/4400/151.758/7/257.795/1/9
                Competitors = 7

                AT C.O.B. on 7/12/2012 4551.758
                Two more tables to follow, being
                1. Accumulated average amount away from the ASX bal on Friday, and;
                2. Accumulated points for tipping to date.

                Commenter
                Snidery Mark
                Date and time
                December 11, 2012, 10:31AM
                • Australia Post should package up Ahmed Fahour and send him on his way. Penny pinching while paying himself a massive bonus is oh so typical of today's corporate Australia.

                  Oh and Ahmed, stop charging $4 per page to certify documents. It's a community service. You know you're part of the public service right? Why should the local pharmacy be obliged to do it for free and you not?

                  Commenter
                  Allan
                  Location
                  Prahran
                  Date and time
                  December 11, 2012, 9:29AM
                  • I've never used Aus Post to certify documents but as a JP myself I was told it was illegal (at least in my state NSW) to charge for certification of documents. Would be interested to know why they see themselves exempt from the rules that apply to others.

                    btw agree that the bonuses are disgraceful and miserly given what the boss got.

                    Commenter
                    Seriously...
                    Date and time
                    December 11, 2012, 10:13AM
                  • Nice Allan, in first and on form.

                    Commenter
                    Another Grump
                    Location
                    Melb
                    Date and time
                    December 11, 2012, 10:18AM
                  • Many pharmacies around Melbourne charge ~$2 to certify documents. Most accessible and free way is to go to the local police station.

                    Commenter
                    Wilstar
                    Date and time
                    December 11, 2012, 10:50AM
                  • Don't know the VIC equivalent however the best way of getting a document certified for free in NSW is searching the JP register:

                    http://jp.lawlink.nsw.gov.au/public/
                    welcomePublic.do

                    Commenter
                    Seriously...
                    Date and time
                    December 11, 2012, 11:04AM
                  • Rubbish.

                    Fahour is doing a great job at transforming what was essentially a basket case into a world class organisation.

                    Commenter
                    Mr Bungle
                    Date and time
                    December 11, 2012, 12:08PM
                  • Allan, re: Aust Post charging to cert docs - Justices of the Peace CANNOT charge for certifying docs - I know, I'm one.

                    Australia Post must be an higher authority, eh?

                    Commenter
                    Snidery Mark
                    Date and time
                    December 11, 2012, 3:11PM
                  • Justice of the Peace can't. Other professions authorised to witness documents can. Australia Post never did until Fahour needed the cash for his bonus.

                    Commenter
                    Allan
                    Location
                    Prahran
                    Date and time
                    December 11, 2012, 4:31PM
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