The day has started well, with BHP hitting $55.20 straight out of the box! I had placed a SELL-order at precisely $55.20 just before the market opened and made a nice little profit, even though the shares continued to rise to $55.33 before retreating to their current $55.05.
I don't trade often or much but sometimes when the market is getting a bit too hot, I take a bit off the table. And the good thing is that all that profit is tax-free since the trading takes place inside my SMSF which is now in pension phase and therefore tax-free — well, until Labor can think of something else to get their hands on all that untaxed money.
For the life of me I can't believe that people who have even only a slightly above-average amount of intelligence and even only a slightly above-average amount of money could leave it in one of those industry superfunds where they're being charged exorbitant fees even when the money is not being worked with or, worse still, is being worked into the ground. Of course, they frighten people into believing that it's all too difficult and "leave it to the experts". What experts? Are those so-called "experts" eighty years old as I am and have seen it all before as I have?
All I pay in fees is around $1,200 a year for my friends at SuperHelp to crunch the numbers at the end of the year, and to lodge the SMSF's tax refund, and then to mail me yet another fat refund of franking credits.
I see that BHP has dropped below $54.90. Maybe I buy back in again as soon as they get down to around $54.70. That would end the day well!
