Sold Rio; Long on BHP, Teck Cominco, Exxon Mobil & National Australia Bank
by, 4th-October-2007 at 11:48 PM (3434 Views)
I've cluttered my portfolio a bit because I didn't realise the woeful margin CMC gave me with Teck Cominco, just 120 shares gives me a margin of $400, which is pretty massive if you're looking at low gearing.
I've put a stop on the stock, the TSX still hasn't approached its all time high.. if anyone had massive amounts of cash to spare with high gearing I'd seriously go into TCK, as its P/E is only 10 and the company, like BHP & Rio, just prints money.
I sold Rio Tinto right at the top! $112.50, sometimes greed can be good, so I took my profits.
I bought into BHP as Kloppers is now at the helm, an upgrade to Olympic Dam, and the prospect of the chinese flowing their trillions into it.
I'm accumulating National Australia Bank as the banks are starting to rally and NAB is the lagger - but I'm confident it'll start catching up because its reporting soon, and NAB is one of the more liquid banks.
I continue to hold onto Exxon Mobil as my favored big cap energy play, with the AUD rising its giving more momentum to profits made.
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