gadj1976 wrote:devilsadvocate wrote:gadj1976 wrote:It's gone up to 19.30 today so that's a good start. If it stays up I might rid of them and move back to mining. My mining shares are still not even half what they were when I purchased them.
The banks here in London are all up 5-15% today, so you should see another decent gain in ANZ and other banks tomorrow. Beware the risks around ANZ's business in Asia - could be some writedowns via secondary exposure to the US. WBC and CBA are the safest bank and NAB has already had a big write down. Although WBC
Sounds like my strategy - taking a short term profit on financials and shifting back into the miners for the med - long term. Keep hold of your miners - if they have good assets, they'll return to favour soon enough.
Thanks DA, don't worry I'm going in with eyes wide open. I expect them to rise in the short term then fall again maybe even more then my buy price.
ANZ dropped to about 13.50 but are now 21.15. All smiles here.
However, my mining shares are still at 3.9 cents, down from $1.54 buy price