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I think we all agree that Cey is a good business with a strong core. But there are so many outside influences at play here and I must say it has become a bit of a gamble . Not a lot makes sense from a logical point of view anyways.
Last week I bought and sold both Cey and Glen and made an ok profit . But the truth is I dont have the balls to stay in after close at the moment because of fear of what may happen overnight.
I think cey is a safe bet medium to long term no doubt. But if you playing for short term gains then theres danger.
Hope to hear from you all tomorrow
Good to hear from you Mr Bond
Sorry off topic
My very best friend sadly no longer with us was a Maths head at a very exclusive public school with a degree in statistical maths from Oxford. His part time job was working in a bookies and he was an inveterate gambler but at the Races (we joint owned the back half of a hurdles horse) and he would look at the betting boards and tell you whichever horse won the profit that that book maker would take home on that race. My bridge tutor and I always lost to him at back gammon. He played the markets as well and during the Tech bubble we accumulated enough to finance the racing. If you haven't stood at the rails at Fakenham in a 30 knot wind in January with temp at 2-5 degrees you have not lived.
Apologies rambling but your bet 365 prompted it.
What a fantastic eclectic board we have here and some have deep knowledge which I really appreciate .
Could not agree more.
This is far from over.
The virus ,simply triggered panic..
It still comes down to quality and divi .
The rest of you play Bet 365.
Does Very good.
Sorry digit error
I've accumulated 2400 Centamin shares at zero cost. except the extortionate trading fee which is a disgrace.
My goal is simple is to accumulate max CEY shares as come May the divi will be a beacon in a sea of gloom
As I have posted here before a return on any investment you wish to call cannot reconcile with CEY divi return . It is backed by a balance sheet which is positive, cash assets , a proven resource and a prime mover in a growing industry. West Africa will be a corona virus basket case and have crystallised all my holdings . sadly some not in an ISA but happy to take the lesser hit . Wait until earning season hits , blood bath and DOW and SP500 blitzed. We have not seen this before and hopefully will not see again in our lifetime. Cash at this time is not a reasonable hedge.
I blame and bless you. I day traded form 2000 until 2006 mostly CFD directly into the book the other side of the spread. I have posted here as to the zero sum game that most are caught up in but I dont think many here understand that they are the other side of the market whenever they place an order but c'est la vie. THE MARKET IS NOT MOVED BY FACTS BUT BY SENTIMENT and that is mostly ahead of ordinary investors. I blame you for the fact that I have traded over the last few days being a great believer in the psychological stops of round figures. Sub sequentially I sold at 129.10 and bought back on limit orders at 121.75. The inexperienced would have set their limit at 121 and would never have been filled. Equally their limit buy order would have been at 129.5. These are my own shares so I am not leveraged now but the end result is that I have accumulated 2400
It's a strong coctail, brewing... you've got end of month hedges that need tidying up followed by the end to Q and start of Q2. Then you'e got UK end of tax year and start of tax year. Isa's etc etc. Tax losses, tax gains... all of this makes for choppy periods across equities and metals like Silver/Gold. On top of all this, you have US, UK and EU heading into the eye of the Corona storm.
Mix it all up with impending earnings season and economic data plummeting..
Looking to buy? I think I'd rather cross the M25 blind folded during rush hour. Seriously... there are opportunities out there but it's a lottery at present.
There will be many bounces along the way and I think you'll most likely see a return to lows for the US markets before you see sustained rises past 24k.
But that's view and i'm not any better than anyone else out there at present as unchartered waters time.
Yes gold lowering. I sold my trading shares but kept my long term holding.
The colonel .
Good prediction there mate. Glad I came out .
Is there anything you are looking to buy tomorrow.
Sometimes Centamin related stories are in short supply and you are stuck with my mad ramblings instead. Nice to know it hasn't caused irreparable damage to the chat board! Cheers
If you posted your grocery shopping list I would read it Agree Rebess comments .
As always, interesing news/information that you serve-up. - Always love to read your contributions. In many ways you are our man in Egypt. We are all better informed because of you. - So, not the 'Last post' I hope but rather 'Reveille' to awaken our slumber. - Good luck.
Forty-nine per cent of Canadians believe they are teetering on the brink of insolvency, according to the latest MNP Consumer Debt Index published Monday.
We were already worried about the debt levels of Canadians and the situation has gotten worse. Since December, Canadians have become more worried about their consumer debt than ever before. Almost half (46 per cent) are worried, according to data compiled by Ipsos on behalf of MNP Ltd. earlier this month. That is a 10-point jump since December and the highest level recorded since the insolvency firm began tracking in 2017.
About half of those surveyed said they are $200 or less away from not being able to pay their monthly bills. This number includes the 25 per cent who say they are already unable to meet their debt obligations. As more households lose their income, anxieties are only going to mount. Thirty-four per cent surveyed said they were worried about job security.
My thoughts: If a so called rich country like Canada is already on the brink, what of other nations? This cannot bode well for a 'swift recovery' post COVID19
(PS - my last post of the day, promise!)
By Mohamed Adel, Daily News Egypt
The Ministry of Petroleum and Mineral Resources is considering extending the bidding period on gold mining in the Eastern Desert due to the coronavirus. The move comes after initial bidding window, which opened mid-March, was extended due to close 15 July.
A petroleum and mineral ministry resource told Daily News Egypt that the worldwide spread of the coronavirus has hindered bid submission from international companies. Further delays have occurred due to Egypt’s own precautionary measures, including night-time curfews and flights suspension.
My Thoughts: How is it we cannot catch a break in Egypt? Legal challenges, uprisings, coups, plagues — what next?!
Sawiris said that he has invested half of his capital in the precious metal and reiterated his confidence that the price of gold will rise due to the covid-19 crisis, despite it having recently eased.
I hope you are spending your time enjoyably, perhaps a very large jigsaw puzzle!
Surprise move up. Missed the trading opps today, but I am wanting to keep all my closed positions and get into the new financial year with a clear deck on the gold side of the portfolio. Only losing positions are being held over to hopefully correct longer term.
Yes I think you may be right looking at how it's going .
Think I'll cash out and wait and see .
Good luck everyone
I expect Gold to go sub $1600 today or tomorrow.
Just my view!
Think it will at $1550 or $1570 so not a major correction after the record busting leap last week it's due some consolidation.
What's everyone's opinions about when the US opens.
Only bought a small amount and currently a few % profit - just intended for a small day trade.
Appreciate any feedback
Crowing about positive movements in the SP usually produces bad karms - Please refrain.
agree, more knowledge about Corona even without a vaccine is going to be of huge value. It's the total unknowns that are killing any market recovery. I read somewhere that some professor was citing the second coming of the virus in Nov 2020 as being more lethal and likely to have different strands compared to the earlier version. Like FLU... viruses have a habit of evolving and as such immunity is not a guarantee for future events. But it would be a step in right direction.
Sorry for typos.
Well Poff ,gold seems to be clawing back.
But half an hour more when NY opens it will be more clear,maybe.
Or maybe noe. lo.
Just so Tibbs, and thanks very much for the piece by Kees. However the book I am reading on Contagion, says epidemiologists have a saying: “once you’ve seen one pandemic....you’ve seen one pandemic”. Ie all are different. So yes last time, in the banking pandemic that the book also refers to, miners did much worse than gold, but this time their costs are tumbling with oil now below $20, and if gold rises profits should soar...