short term oversold, page-4

Hi OpTrader,

I get your point. If some alien intergalactic space traveller dropped in right now they might be forgiven for mistaking HotCopper as political forum rather than as an investment network.

The message on your posting is

THE PHANTOM SAYS stick to the rules folks
The rules are there to PROTECT your capital.
Everyone has different set of rules but you need to have rules, like anything in life

A wonderful approach. My problem is that this tax announcement has largely rendered my rules redundant. I have wanted to invest in BHP, and under my rules would have bought by now.

Now with my rules shredded, I have absolutely no feel on what might be a good entry price. The question I ask myself: could the BHP suffer a 2008 type meltdown?

Last time I think sub-prime debt triggered the meltdown. This time could it be European debt AND Australian tax rules?

As an equity investor, I'm used to risk. I suspect that this time the risk has been compounded by a badly timed weapons grade super tax proposal.

So, I sit on the sidelines, contemplating by navel, risking missing out, but preserving my capital. Oh boy, never thought I would say that!