"I have not studied the impact of oil on input cost of producers but"
The article I printed to day (AGE, SMH - Faifax) said today - and for once I believe it - that costs had plummeted....from labor due to general mining collapse, and oil, and diesel (I don't even know what that is, but is used, being off the electric grid).
And clearly mentioned falling benefit of AUD (quoted at 74.5 - wrong - but good enough - and compared it with USD Parity (or higher), further increasing revenues. Closed mines have been re-opened, even in VIC (which was built on gold) etc.....
Very bullish article, and I'm not succumbing to confirmation bias. Not helping us today. In my big list which I sometimes print here, I see two non-trivial greens...MML, SBM (the others are TRL and BAR)
But I still have this paradox in my head.....
Anyway, I just paid up some very good money for MML (one of the few to rise today)....onlt lose some of it already....and now have to figure out what to sell to pay for it. With Commsec you have (now) T+1, and the sell will offset ("contra")the buy (and vice-versa), without defaulting at Settlement - a "feature". Tomorrow might be a better day to sell, methinks, fingers crossed.
In passing, this idea of SEPARATE Bank Acct for Cash (in addition to Trading A/C) is BS, esp. coming from US. They have ONE Acct, period. And they CommmSec (the Banks, and presumably other brokers) know that, since they offer Int. Trading (using Pershing).
Maybe its Federal or Securities law here, I don't know.
But in US, one Acct. You deposit say, $50K, you spend $25K, you have $25K in Cash left. It's just a line item, not a physical Bank Acct.
Unnecessary complexity IMHO. in fact BS.
Here you never know how much cash you have. You have to nett up the Balance of Unsettled trades, add the Physical Cash Balance (above) , and worst of all, take into account contra/offset, which had two separate rules, if you first buy, then sell, and vice versa (but now one rule due to recent ASX Settlement Change). Which I still don't grasp how to incorporate into the above calculation after 12 months with them. Very complex, esp if multiple trades/day, over a period of days....and I'm not an "Active Trader".
CommSec customers will understand what I'm moaning about.
I do it manually, after every BUY/SELL. I have a confirmed starting point (balance), and immediately adjust it...manual and error prone. I tried the above method (explained to me clearly, by a very good guy,), but never a mention of contra / offsett, how contra rears its ugly head and wrecks the process..... It's not enough to nett unsettled trades and add the Physical Cash Balance.
Their staff can do it...but even they have difficulty, with their online system, called...GUIFIN!
They have six chars and waste 3. Of course its a GUI. Its WINDOWS!!!! It adds as much value as that cheap vodka you sometimes find around here , which is zero value.
CUSTFIN, ACCTFIN...anything....I mentioned this to Service lady...it had never occurred to her....
Here endeth the rant.
, which is zero value.
