Forum Archive Index - September 2002

["Nick McCaw" <nick.mccaw@golearn.co.nz>]

The week marches on, good feedback, thanks all, even managed to incite a small riot, good to see there are still a few thinking people around with an opinion.

 

The Dow got severely beaten last night which is always interesting to see. I would post a chart to show you how significant that this fall could prove to be, but I haven’t worked out how to post them yet, perhaps someone could enlighten me.

 

It does look like the major indices could fall further yet, is this finally going to catch up with the NZSE. What is everyone thinking about this? This IS a good time to consider locking in some profits and protecting your capital. Have a glance at Briscoes, Wrightsons, Sky City, and Fisher and Paykel. These cannot maintain their meteoric rise. It just doesn’t happen, if you like money, take some profits, even if you love the stock, why not sell it and buy it back cheaper.

 

No one, except the very lucky, and liars, buy at the bottom and sell at the top.

 

Then consider Carter Holt, and Warehouse, and Waste Management, all of these are sitting nicely on long term trends, a drop now could mean a good reason to sell, a move up would be a good time to buy.

 

Alot of NZ companies are very good, But I wonder how much that will matter if world markets keep moving down. I just want to make sure that people are awake to these things now rather than in a few months when prices might be at better levels to buy again. An appreciation of the price movements really help in markets like these. And its hard to see what’s going on with your head in the sand

 

I don’t own any of the stocks that I have mentioned but its an interesting time to consider things if you do.

 

Have a good afternoon

 

Regards

Nick McCaw

 

Ps, I like the idea of tracking directors and board members, perhaps we could implant them with a locator beacon and build a site to track their movements, definitely add the ability to give them an electric shock at opportune moments.