red market

With all the markets across the globe in the red,except for the nikkei 225, what else could you expect CDS to do. Ok its gone down 3 cents big deal. The coal reserves they have and the management that CDS has,havent changed, so nothing has changed except the market went down. People get spooked too easily and follow the flock in shares, where as other astute share traders wait to pounce on a bargain. Have a look at this report from today off Comsec, it would take an exceptional announcement to make CDS go against the trend today! Just be patient and you will be rewarded.

LUNCHTIME REPORT
11.45am AEST

The Australian share market has dived to its lowest level since January 2006, with lower commodity prices dragging down the materials and energy sectors. The All Ordinaries Index (XAO) has fallen 97pts or 2pct to 4860 while the benchmark S&P/ASX 200 Index (XJO) is weaker by 93pts or 1.9pct to 4794.

Mining giant BHP Billiton has shed 5.6pct or $2.16 to $36.19 while rival Rio Tinto (RIO) is weaker by 4.9pct or $5.81 to $112.29 thanks to a big slide in the price of crude oil and similar weakness in other commodities. Oil fell to a three month low overnight, at one point dipping below US$120 a barrel, as Tropical Storm Edouard turned westward missing vital oil facilities in the Gulf of Mexico. The price of gold also fell, down almost US$10 an ounce, which has sent shares in Newcrest Mining (NCM) lower by 8.2pct or $2.44 to $27.29 and Lihir Gold (LGL) down by 8.5pct or 23c to $2.47.