Forum Archive Index - April 2000

["hugh webber" <hugh.webber@clear.net.nz>]

> waal, I have the impression its going somewhat better than the NASDAQ.
> Comments
> are now that investors there are now selling out of the Dow to meet
margin
> calls on the
> Nasdaq. Twang twang twang, when will they ever learn, when will they ever
> learn.
> Just like the old days in NZ circa 87/88 when all the chickens came home
to
> roost
> for MegaPaperShufflers Corp with astronomical P/E's and no repeating cash
> flows just
> deals with each other for each other's shares at higher and higher
prices. 
> And the poor suckers who had taken out a mortgage on the house without
> telling the
> wife and borrowed up large on the plastic got burnt badly, I think the
NZSE
> lost about
> 44% - marginally more than Hong Kong and Australia while the US which
> started it all
> recovered rapidly because it wasn't leveraged to hell with sky high
P/E's.
> Well now
> the tables are turned, at least between the NZSE and the Nasdaq.
> I suppose we have to wait for the poor suckers over there to finish
getting
> blown away
> for the Nasdaq to recover which in the main it deserves too and will do.
> How long, how
> much further is the measure of the extent of the leveraging that's been
> going on. Maybe
> the leveraging was a bit like Hansie and the bookmaking, needs to be
washed
> away.
> Once again I will look with hope at Telstra Bus News on One tomorrow
saying
> Gimme
> some good news, gimme some good news, tell me its all finished and we've
> started up again and 
> on a sounder basis to go further.
> Amusing that the tech progress is quietly proceeding anyway e.g.
Telstra's
> deal for getting into
> Asia, AAPT's new deals while the tech investors are enthusiastically
> throwing themselves out
> the window heading south. There's all sorts of tech productivity
> improvements going on and
> planned that are irreversible and feed off each other and converge
ranging
> from NZ Steel's new
> low cost website steel market to downloading digitised music (at last).
> Still, there's no stopping
> a determined lemming with logic.
> Interesting inverse correlation between the direction of share indices
and 
> the number of emails from Sharechat; someone with this brilliant new
> software
> from Henley, unduplicated elsewhere in the world (cough, cough) could
> construct
> a new leading indicator out of it except I suspect its a lagging
indicator
> like all
> charting.
> 
> P.S. I note p281 of Teletext, courtesy of Craig & Co says 'updated
Thursday
> 13 April' and still 
> has APH at 50 to 60 cents. Oh well, guess I have to ring someone up. Must
> say I'm surprised
> there's not one single other investor in APH on Sharechat and nobody in
> either Teletext or Craig
> & Co bothers to read Sharechat. Too busy watching the Nasdaq plummet no
> doubt.
> Re AMR (Asian Min Resources) I can't really see the point of chucking
more
> money in there;
> its a commodity stock and heaps of nickel and other minerals (possible
> exception of palladium
> for catalysts) around and no forseeable prospect of paying a real live
> dividend or ten bagging
> its NTA so I'll quietly bow out of that one. Any comments? Am I missing
an
> El Dorado somewhere?
> 
> 
> ----------
> > From: Paul.Menneer@sealedair.com
> > To: sharechat@sharechat.co.nz
> > Subject: [sharechat] NZSE Performance
> > Date: Thursday, 13 April 2000 10:40
> > 
> > Looks like the bottle of wine is safe from the corkscrew for a little
> while
> > yet !!
> > 2200 in which year?
> > Paul
> > 
> > 
> >
>
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