Long on Seek, added more Rio & Exxon Mobil
by, 26th-September-2007 at 06:13 PM (1651 Views)
This is it, we are poised to reach 7000 by the end of the year, maybe even sooner! The economic backdrop is good, our miners are in super-strong shape, energy is in mega-demand, and techonology/bio shares are going hard.
Bought shares of Seek Limited (the jobs website) - a stronger USD means Seek pays less for the US products Seek uses to run its site in the first place (servers, databases etc), and I think it could be a takeover target by a media conglomerate may want to add a jobs section. It also has strong job earnings and with the bureau tipping the jobless rate to go below 4% its all the better.
As for Rio & Mobil, every dip is a buy, commodity demand & prices are going to surge after these rate cuts, Rio Tinto Alcan is yet to be one entity, and Mobil just makes too much money!
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