http://bulletin.ninemsn.com.au/article.aspx?id=277480That is the...

http://bulletin.ninemsn.com.au/article.aspx?id=277480

That is the link for the below post, which I posted yesterday. (I still see this as an excellent buying dip for PDZO.)


And indeed The Speculator said in his online column today that PDZ has been sold down the last week by end of year tax sellers, and now represent an excellent buying op:

"Opportunities abound as profit takers sell down stocks to keep ahead of the taxman.

"PROFIT TAKERS OFFER WINDOWS OF OPPORTUNITY: Several of our portfolio stocks were aggressively sold down last week as profit takers unloaded their inflated paper on to the market. That pent-up selling pressure was to be expected following the end of the 2006-07 financial year on June 30. Sellers after that date could move their taxable gains into the new 2007-08 year and won't have to pay tribute to the taxman until after June 30 next year.

"The sell downs also present canny new investors with buying opportunities in companies with potential for further success, such as some of our prospectors with active field programs. Such stocks sold down last week include:

* Prairie Downs Metals (ASX code: PDZ), with a zinc-lead-silver project 110km south-east of the WA iron ore centre of Newman, sold down to a low of $1.05 last week from a pre-June 30 year's high of $1.30."


What The Speculator actually bought of course were the options - PDZO - which have also fallen back the last few days.

My own observation is that options move faster than shares, so I will stick with them, and maybe buy more this week.