wanted tibbs, page-13

Well I am back .. but not for long. We head off again on another trip next week! Busy, Busy!

Well what the hell has happened? Poor Banners has been well & truly screwed. I imagine that there have been many comments here on Why? Why? etc, but the whole market has been trashed. Resources are down, and I imagine $$Billions have been pulled out of the market pre-Olympics, anticipating a post-Olympic Chinese economy slump. Then we have the Funds reweighting portfolios & shifting out of resources, shorters, & panic selling, and stop loss hits!

Combine the above with the Savannah shadow, & stocks like BMN have been caned ... arguably unfairly. RWD, with a Native title permission issue, has been hit as hard.

Prior to heading off in July, I moved into a bit of cash, & sold a number of stocks I was concerned about, or wanted profits on. I ended up only holding a handful of stocks that I intend to hold longer term. BMN is one of those. I am now in the red on my BMN holdings, but I now have held my core over 12 months, so I have set them aside until production.

Overall though, I am well & truly in front for the last 12 months, thanks to stocks like GNM, MAK, RWD, & BMN (traders) ... but certainly gave a bit of that back to the market the last month. But I remain 100% positive that we will have some very good times ahead. There is nothing wrong with BMN, it has a great new JORC out, BFS underway, drilling on other deposits, and more to come. So we are that much further ahead than we we were when she was at $4 ... the only difference is 1] sentiment & 2] Savanah. Both of those will change soon! Also, the U sector is getting set for a big next 12 months, I like some stocks in the pharma sector (NRT for one) & I still think that after this steam is let off, & the financial sector stabilises, that the general resource sector will continue bullish .. the music aint over yet, IMO.

In the meantime I am trying to cash in on some trading on oversold stocks ... bought a swag of BBP @ .18 cents yesterday, & piled into BNB today after it recovered & moved through the opening $2.11 price. (bought a few more BMN today around $.83 ... but dont tell anyone!)

Another coal stock I was getting into in July is RCI ... It has held up well in the slump. Worth checking out for those interested. A little research & you will see why I like it.

I will pop in when I can over the next month ... so good luck to all & keep your chin up, remember, its only money! .... Rotten stuff!

:)