Saturday, July 22, 2006

ASX Investing

I have been trading and investing on the ASX (Australian Stock Exchange) for a few years now. This has been an enjoyable experience but has had some major ups and downs.

As most of my trading/investing is now done within my Superannuation fund I thought I would post my comments on the stocks I have bought already and future stocks which I am contemplating buying.

To start of with I should outline the major positions I currently hold. These include:

1. MOC bought at $1.54 (Currently $2.70)
2. ASU bought at $0.022 (Currently $0.021)
3. FUN bought at $1.725 (Currently $1.77)
4. BRZ bought at $1.40 (Currently $1.56)
5. MCW bought at $1.875(Currently $1.83)
6. ITF bought at $1.04 (Currently $1.35)
7. MMA bought $0.93 (Currently $0.92)

ITF has been taken over and these shares will be automatically sold within the next few days. This was a very profitable trade for me as I had been watching the share for several weeks and the takeover announcement came only hours after I bought the share.

MOC has been a shining light of the portfolio. It was purchased mid trend as it headed higher and conistenetly produced stunning results. It has almost doubled in price.

FUN was only recently purchased and has headed in the right direction from the outset. I will try to post a detailed entry on why this stock has a future and why it will rise dramatically int he next few years.

BRZ has another recent purchase which moved 10% which a very short time frame and has come back slightly. This stock was purchased when it was out of favour yet it continues to produce good financial results which should hold the stock at this price and eventually push it higher.

MCW was purchased shortly before a dividend and while it is showing a capital loss it is actually showing a gain after dividends are taken into account.

MMA is slightly down from the time it was purchased but it is a good fund to have money in and adds a slight bit of diversity to the portfolio. It should outperform the market in a bear enviroment and I suspect the repurchase of shares will hold the company at its current price.

ASU is a speculative buy due to its small capitalisation. It is a growing company which should eventaully climb in value as the profit start to increase. Management is eager to expand its business and I belive the share is worth closer to 4c than 2c.

Hopefully I will keep the blog up to date with lots of detail which will help others.

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