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I confess that I am slightly confused Chartist2. Any TA would recognise this as normal price action so I don't really understand why you would think that this represents some form of conspiracy.
For goodness sake, this happens with all shares. Sorry, but as much as you would like them to, shares do not go up in a straight line.
Andyforster, and the only reason I am posting this is because this hapened three times now. Everyone may draw their own conclusion from this. 28-03-2016: Sharehype to 3.70p and higher intraday Retrace to: 1.95 13-02-2017 Hype to: 5.20p and higher Retrace to 4p 20-11-2017: Sharehype to 12.50p Retrace to 7.70p
Chartist getting very very close to talking complete rubbish by making simply untrue presumptions. SH was reporting analytical geological information a week or so ago. Nothing more nothing less. The London show was a trade event to showcase the company. Nothing more nothing less. If a trader gets carried away with this then they are buying at their peril. If anyone gets carried away with so called hype from a site such as this and thereby places a buy because of some unknown random poster, they need their head read. Do your own research. Chartist, contact the company, contact PB and let him know about your hype theories, he will fall off his chair laughing, he will think you’re mad. Start dealing in facts and forget the presumptions.
Andy, although me I do believe in certain coincidence in life..., there is very little coincidence in the world of business and finance. Especially on the AIM. Especially where JPm are involved. Very very odd coincide - you have to agree to that - that the last "hype" came with SH interview, and the large selloff started from 12ish to as low as ridiculous 7.70p. SH has the ability to control on which exact day he shouts and cheers the news from the mountain. He did it exactly during the last (empty) share spike. Very well timed in my opinion. Those who bought last are now locked-in for a while. Maybe this tests again 7ish? Maybe the wider picture is improving: But some people are still locked in right into the new year. Not so nice, is it? (No, I am not referring to punters with 2 or 3Ks who dont bother about tneir "gambling money" and even forget about it or put it in the botzom drawer - with the rest of their super AIM shares. I am referring to family fathers who got soaked in during the web-news hype with a large entry and depend on that sum after two or three month time. Lots of normal PIs work by shifting capital back and forth. From insurance, to real estate, to the stockmarket and back again ad soon as possible. Not so nice to be suddenly locked and depend on what PLC director will say or suggest. Sorry for the rant, Andy! But that thirty or fourty percent price crash (exactly after SH last pump and pump) as well as the drip by drip selling of chunky sells - looks very suspicious to me. Enjoy theChristmas holiday everyone who are still comfortably up from 5 or 6 pence. Everyone else: Heads up! Lets hope for better times.
Unsure really what your getting at with “Hats off to Steven H. and his well timed pump and pump inteview on proactiveinvestors as well as happy newshype from the mining & money event in London that created the final 12ish spike“. Steve commented on real assays that we’re released to market and set out the program to try and connect the copper at BKZ with that at BKM. The Beutong License timeframe probably got the market excited but the application hasn’t gone away so this could land in 1 day, 1 week, 1 month who knows. Happy to hold here for the long term, plenty of exploration to go and the BFS due H1 means plenty of news flow to come.
"Seems to me the chart technicals have prompted sales of stock from the traders to be taken by the long term fundamental holders." Andyforster Right, so now we know why someone offloaded bigtime as from 12.50p down and caused this ridiculous 30-40% price crash over a silly short timeframe... The Sp always speaks the truth: - The Sp has been lowered constantly because there were not enough buyers. While the crowds were hoping for "30p over the weekend"... large II's holders already sat on a 200% or even 500% profit at 10p. Its only logic that they would take a few coins off the desk. - Another fact is that very few PIs can stomach this kind of price crash if they bought three or four hundred K shares during the sharehype in November. Few PIs can stomach 10K+ Pounds loss, some fourteen days after pressing the buy button. And we are just talking about ONE portfolio position! We are not even mentioning other bluechips this PI might hold, such as Vedanta and others who have seen a nasty crash. Once again: Hats off to Steven H. and his well timed pump and pump inteview on proactiveinvestors as well as happy newshype from the mining & money event in London that created the final 12ish spike. This only has enabled large sellers to unload and secure huge gains - perfectly before the year end balance. Always good to bank on insider knowledge. (Pheew, imagine the license came right in the week of their chunky selling!!) Yes, I'm happy to see that larger buyers (100k+) are stabilizing the Sp again these days. Nevertheless the entire share hype activities as seen from September till November seem a bit dodgy to me. But who am I to question the honesty of public listed company directors, ha ha! We need to keep holding and focus on the wider picture:))
Well, I’m going to be one happy bunny if it does.
Tomcorvid, Not necessarily. It depends on your timeframe of course but a material supply/demand imbalance can create rapid price movements. Look at Vanadium as an example. Chinese environmental shutdowns caused this to spike up 100% earlier this year and the supply/demand balance is looking increasingly problematic in the future. Now, Vanadium is not a major metal like Copper but there are some parallels if the rumoured strike action in Chile comes to fruition whilst at the same time the rise of EVs is creating increased demand for Copper and the quality of Copper finds is steadily decreasing. This is unlikely to come overnight or as rapidly as the rise of Vanadium owing to the considerably larger Copper market but the pressure on prices is likely to continue.
I can’t disagree with any of that except to say that I have heard Friedland suggest $8/lb or $19,500/t. I mean, the guy knows his onions but surley that is fantasy. Isn’t it?
Beyond short term intra-day or weekly charting stuff, the bigger picture (certainly so much of the rhetoric) is that copper is going to continue to go hard and fast and more so than ever predicted. Calls for $10,000 per tonne were looking high but Friedland is now calling $12,000 per tonne. As I have always said, with one of the only quality listed projects of its size (a medium scale) listed anywhere in the world. Asiamet will begin to see some strong attention (I don't think we have even started yet). Steve Hughes keeps delivering those results and the project is going to get even better. Plus Beutong and the whole rest of the portfolio outside of BKM. Cheap as chips still.