But look at the volume of shares traded, 300k shares worth $380k. Nothing too solid there yet. Looks like the shares are very tightly held for the time being. Shares like this are easily ramped up and if you get one little piece of bad news they get dropped like a hot cake.

Good luck to those that got in at ground floor. Dont get too greedy!

yup... i snapped mine up at 50 cents.
got my best mate onto them just over a month ago at 68 cents

both sitting quite pretty atm

I got in at 52c and I bought some more later on at 60c.

I was advised they were excellent value up to 80c, and looking at them now...the info was correct

So are there companies in Perth that specialise in recommending stock purchases to Joe Public? I'm familiar with buying off Comsec so could do that myself, but I'm looking at a relatively large investment (c.$35K) so I really need some professional advice.

http://www.asx.com.au/resources/brokers/perth.htm

Call some of them.

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Ring Grange Securities, ask for Ben Kirou.

Tell him you've got 35k to spend and Joe sent ya.

Cool thanks for advice guys.

Now that the share market is dropping, is it a good time to buy?

It is so volatile at the moment and sentiment is generally very negative... from a risk perspective - it's probably not a good time to buy.

On the other hand - volatility can allow for high short term returns for the investor. For example, yesterday, Rio Tinto shares hit a low of $109.85 only to close at $124.00 (a gain of just under 13% isn't bad for a day!!!)

There was a whole bunch of stocks that did this as the market bounced back from 150 points down mid yesterday. A turnaround for the market is surely on the cards but who's to say that it won't keep falling for a few more days??? Buying a couple of days early could mean working your way back to break even rather than a healthy profit.

Good luck!

I would definitely be looking for a strong trend reversal before investing long term into the share market. There is a quick buck to be made out there with the volatility, but there is nothing to predict it so it really is gambling at the moment. You could enter a position only to see it lose you shit loads of cash if the US has a bad day.

RIO was completely nuts yesterday, the intra-day chart is one of the most hilarious things I've seen. Guy at work got long 100 RIO shares on the open, so was seeing $1400 in profit by the end of the day. Only problem is we have compliance rules at work so he wasn't able to sell it lol