Profit milestone, Sold NAB; Bought Rio Tinto Alcan
by, 27th-October-2007 at 02:25 AM (3172 Views)
Well since its a blog why not, thanks to the stock market my savings have doubled in 2 months and I'm still going strong!
It's unusual being an investor, I recently sold NCM at $29.60 - its now $31 today. I sold NAB yesterday at $42.01 and it surged to $42.70 today.
I say its unusual because timing is impossible, but there are just endless opportunities in this market!
Anyway my gearing has dropped to just below 5%, very nicely in my comfort zone and I think Rio will really start kicking ass soon.
Rio Tinto has stepped up to the next level in the commodities fight, I hope everyone who holds Rio is excited as I am about the Alcan acquisition.
Last I checked analysts at Morningstar & I think UBS and several others rated it $122+, but I think it could go much much higher given aluminum's potential and the ongoing boom.Alcan joins Rio Tinto to create global aluminium leader
Alcan today joined the Rio Tinto group following the successful Offer for Alcan by a subsidiary of Rio Tinto. The expanded aluminium product group, formed by the combination of Alcan and Rio Tinto's existing aluminium assets, today became the new global leader in aluminium and will be known as Rio Tinto Alcan.
Rio Tinto chief executive, Tom Albanese and Rio Tinto Alcan chief executive, Dick Evans hosted special events at Rio Tinto Alcan's Montreal headquarters and highlighted the opportunities created by bringing Alcan into the Rio Tinto Group, and the potential for continued strong growth in the aluminium sector. Similar employee events took place in Brisbane.
My average price for Rio stands at $109 with 205 shares, it's up 8 per cent in 2 days in London (but that usually doesn't translate onto our market for some reason
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