Hi Boris, Happy 2007. Yesterday and today's market volatility, both in the US and Australia, is a welcome change to the dull upward grind of the past few months. The US markets look like it may make one more new high before tanking, (especially the Q's). I'm really hoping this market can correct significantly soon so that some bargains come along, since most setups now are becoming high risk with uncertain rewards. However, I'm increasingly believing that this major correction won't occur until March/April/May.
Anyway, I went long QBE.AX yesterday at 28.01, and today, it unexpectedly popped up to $30 on news, so I exited my long (good way to start the trading year :) ). This stock has a track record of going up at around 40% a year, and only recently has it gone berserk by going parabolic (due to a few new acquisitions by the company). I'd like to think there is still some upside to this stock, like maybe $31, but I'm not too sure now given this is a pretty big runup for this sort of a stock.
Dear Jebuskrite, welcome back to our house in 2007. Happy new year to you and loved ones as well. We are also anticipating the break in the market, whenever it comes, we think it will not be just a small correction.
QBE seems to be a nicely trading stock. It has a nice potential this year and we should be able to quantify this statment soon. GOod Trading to you, from all of us at Boris & Friends
2 comments:
Hi Boris,
Happy 2007. Yesterday and today's market volatility, both in the US and Australia, is a welcome change to the dull upward grind of the past few months. The US markets look like it may make one more new high before tanking, (especially the Q's). I'm really hoping this market can correct significantly soon so that some bargains come along, since most setups now are becoming high risk with uncertain rewards. However, I'm increasingly believing that this major correction won't occur until March/April/May.
Anyway, I went long QBE.AX yesterday at 28.01, and today, it unexpectedly popped up to $30 on news, so I exited my long (good way to start the trading year :) ). This stock has a track record of going up at around 40% a year, and only recently has it gone berserk by going parabolic (due to a few new acquisitions by the company). I'd like to think there is still some upside to this stock, like maybe $31, but I'm not too sure now given this is a pretty big runup for this sort of a stock.
Happy trading
Jebusk
Dear Jebuskrite, welcome back to our house in 2007. Happy new year to you and loved ones as well. We are also anticipating the break in the market, whenever it comes, we think it will not be just a small correction.
QBE seems to be a nicely trading stock. It has a nice potential this year and we should be able to quantify this statment soon. GOod Trading to you, from all of us at Boris & Friends
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