the perfect storm, page-26

Well guys fortunately for me the Taxation ruling has done me a favour. I sold a large part of my holdings yesterday and decided to book the loss against earlier profits this finacial year.

I still hold over 70,000 shares which are up for sale at $1.05 if you want them LOL !
Didn't want to be completely out of the stock in the event of a takeover, which gets more likely every day.

I almost ploughed the money into Gold yesterday (PNA), but opted to sit the balance of my cash on the sidelines until after October.
I'm stuck with two stocks EBG (have a very large position) also have a small holding CMO.
For what it's worth I have a medium sized position in LOOK (as nasdaq listed stock) formerley traded on the ASX as Looksmart, I expect this stock to do very well through this difficult economical downturn that is rapidly developing.

My wife and I are very fortunate that we have no debt and over half of our nett worth in cash in the bank.
My opinion is that the market is going into the next phase of a melt down which has only become clear to investors over the last week (three weeks ago we were looking good).

Yesterday I was looking at Iron ore and gold stocks (the only two commodities expected to do well in the future) and to be honest all stocks in this sector look expensive.

So, I'm working on my golf swing until the end of October. There is no sense sitting in front of the screens and watching the balance of my holdings get smashed.

Good luck to one and all.

Tex.