Asciano

I made a few trades this morning. This includes sold Bluescope (BSL.AX) and bought Asciano (AIO.AX). I am not sure if selling BSL is the best idea, but it has already hit my trailing stop, so I better sell it without ifs or buts. It would be nicer to sell BSL four days ago when the price was a lot higher, but at $2.48 I still made a small profit.

Asciano has just emerged from trading halt this morning, down approximately 30% on the back of capital raising. Will see if it's a good idea to buy now in a couple of months. I just read an article from The Australian this morning. It was actually dated yesterday, http://www.theaustralian.news.com.au/story/0,25197,25641593-5013408,00.html.

The article mentioned that if retail investors are not buying up deeply discounted deals for well run assets like asciano, then they should hand over their money to someone else to manage.

Asciano is a rail and port company, and it's stock was priced at $10.65 a share when spun off from Toll two years ago, and it is now raising nearly twice its existing market capitalisation at a deeply discounted price of $1.10 a share.I am in at $1.29