Pretty happy with my St George ATM - up 25% today

Wespac was doing ok this morning but alas backing off.

__________________
Arguably my Automobile is Awash with Alliteration - Subaru Sti S202

Apparently there is talk National may make a counter offer for a merger, so either way, St George investors will be laughing all the way to the bank (pardon the pun!)

__________________


FOR SALE - [MY REXTC] - Custom Polycarb Plates - PM Me

My prediction is that the market is in for some serious bizzle. When you are talking share tips on the p.diddy, it's like the shoe shine men before the great depression - or school teachers putting money in Laurie Connell's bank in the 80s.

If you need any more evidence that it's the 80s again, just look at the perth skyline!

My tip: I'd wind back your mining positions and get diversified. Even Jonno bought a car wreckers!

yes i hold fmg from the early $1 range etc

__________________
"Our business here today is cocaine, yes? "

On what reasons/evidence do you suggest your tip on?

IMHO things are still looking good for market and for mining positions. I think we are past the worst, but minor falls will keep happening for a while yet. Gold still popular in India (and will rise if economies go south), steel still popular around the world so IO and Ni demand will continue. Natural gas and especially Coal seam liquified gas will rise strongly. Main issues I see is coal demand decreasing due to environmental issues, and an overall energy shortage.

But...I am biased...I'm in the mining game
Gold is going to $2,000/oz in 5 years.

__________________
Back at work.

The so called 'boom' in WA has only related to mining positions as far as I am concerned. There are a lot of other sectors which are not in boom times.

If interest rates go up, fuel goes up, (and ironically steel prices are through the roof since iron ore prices are up and China isn't supplying) then employees are going to want more money. Eventually mining projects will be postponed or stopped due to the rising costs.

Then those people who were previously employed on grossly overpaid wages will be out of a job, can't afford their stupidly high mortgages, inflation rises, mortgages go up, other people who have overcapitalised can't make their repayments and everything goes belly up for a while.

So many people can't remember just a couple of years ago when the mining/engineering sector was nearly at a standstill. Whilst I don't think it will go back to that level, expect it to steady out very soon.

__________________
[COLOR="Gray"]550Nm off a 2L... Just wish it was in the dak dak...[/COLOR]

But what you have to understand, if you are qualified (like myself as of 3 days ago....yippie) and have previous experience in the industry (such as Electrical) then you are a wanted commodity even after the boom is over. You still need people to run the plant, and i fail to see BHP, FMG or RIO "closing up shop" anytime soon. I think what you are basing that off is your stupid spenders coupled with Trades Assistants that, when sacked, have no actual accreditation to help them bring in a steady income.

That being said, even if they cannot afford the mortgage, sell up. Downsize. Personally i am with geoff. What goes up, MUST come down (besides age :P). A work mate and I have been discussing this (when i was working in Port Hedland) for months on end. Everything is pointiing to a decline. The economy is cyclical just like a wheel. It goes around through its peaks and its recessions. Mining stockers were good years ago and any goodness now is, as what i call it, "Johnny come late to the party" stuff.

A clear example is a few posts up, buying FMG for $1 a share. Good investment, buying now? Pointless, it may go up but its overpriced. @ 1$ you will almost NEVER make a loss, not matter how you look at it (besides a forclosure of the company)

__________________
Honda Hannspree Edition CBR 600 RR - SOLD
Yamaha FZ1N - Purchased

i got into nimroddel shares about 6 months ago, heard a good thing that they were going to rocket up to $2 (and i believe a few people on here had this share aswell) i got mine at 60 cents and they got up to 1.46 until that crazy 15 consecutive loss period we had and since have been hovering fron 45-55 cents.

i should have sold them instead of being greedy

Same here...shoulda sold em at 1.46, but I ended up selling in the 90c range. Glad I did

What, like the H*I iron ore briquette plant that they built in the late 80s during the last boom and shelved about a year after it went online?

Tradies make good money, but they only make good money while there isnt competition for work.

Its cyclical in WA, it always has been. Open the history books, or at least company accounts for the last 10 years!