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Thanks Tibs, you are right he overdraft starts charging today,however only a max of £90 for the month. I will use the divi to pay back the overdraft although Barclays insists on taking it n dollars then taking for ever to pay it out in pounds so I will be lucky t see it by the end of the month. However it means I will have in effect have reinvested the divi at around 130, which would have cost me rather more now. For the first time I didn't sell up the day before ex div and then buy back the same number of shares and pocket the difference as I find the spread only works for small amounts and us usually a penny or two for me which is 1% off the div, but of course the first time I don't do it Cey has shed 10p, hey ho. Could have paid off the overdraft a few times over buying back the same amount. However I am feeling particularly good this eve that although markets are marching down gold seems to be holding 1700 so hopefully it will get cey up again despite the coming market falls.
interview from yesterday
So what the heck is happening today?
Why is price being smashed on COMEX and what is being accomplished?
Andrew explains the significance of the month-end PM Fix for the Banks and the BIS.
But also, what happened back on March 24?
Why did the OTC/spot market break?
What are the long-term consequences and, more importantly, what happens next?
For that, be sure to listen to the final ten minutes of this discussion.
LBMA Gold Price benchmark ignoring market conditions, short-changing investors
Bought back at 151.5. Made a couple of hundred and with divi to come so I'm happy with that. Trump threatening tariffs again so I'm thinking gold may perk up from here and Centamin is still only at a level it achieved a couple of years ago when gold prices were much lower.
Fed QE Gone mad...
Jimbo_jet the Investing.com is live because it gives the time of the last market trade beside the stock symbol.
Top-tip, it costs £99 to remove the adds but if you load enough stocks the add gets pushed off the page.
I use Google finance for UK shares it is ok and real time prices. Big plus is there is many clever ways to use excel spreadsheet as well.
Hi Razor, yes I've done the same. I'm trying all those apps I mention and some look really good but I'm finding that their prices can be 15 or 20mins delayed. Will let you know what I settle on over the coming days.
Did you close your overdraft Sotolo?
They need to half the price of these awful houses they chuck up nowadays and developers should be made to adopt the unit construction and environmentally and energy efficient methods used in the Scandinavian countries.
At present our big builders use outdated building teechnigues and materils that should have been abandoned decades ago, yet the greedy stinkers that sit on the company boards take afvantfge of government (taxpayers) funding to award themselves huge bonuses!
Jimbo_jet I have set up investing.com its not as nice a layout as Webull but the prices are definitely real-time.
Thanks again for your help.
You have a great handle on what’s going on.
Anytime I made any serious money there was always a similarity and that was the buying price was always really low. You can be making money by staying out of the market as well as being in it.
When you are fortunate enough to catch a share at a low price you have the luxury of waiting for months if necessary until it gets to the top of the trading range.
The great thing about Centamin is the cash and no dept.
Nice to hear different opinions, thank you. My thoughts: 1.30 would be a 100% retrace from the recent rise inspired by the Q1 figures and means the market has totally discounted it. I don't agree because I think it is what has given the market confidence and belief that Centamin has turned a corner and I put some value on that. Of course there are still the risks of missed production, covid shutdown, falling gold price, a dash-to-cash market crash and god knows what else as we have seen over the years. That is why I would also like to see Centamin diversify somewhat. My biggest fear at the moment is another dash-to-cash as I could see £1 or so in that scenario (in which case I will get a new credit card and load up)
£1.30—£1.30 any less than that is cheap.
This my humble opinion. Everything is “in all probability”.
Who knows they could be £1.60 next week again.
Well I am looking to buy back what I sold at 1.66 so that I can increase my holding and release some cash at the same time. I agree that the price can go anywhere. I have been in Centamin long enough to know that anything can happen! May I ask what you consider to be a good buying price?
Crockedskier, without wanting to sound ridiculous Centamin’s share price can go where ever the marketmakers decide to send it. To me £1.30 is the norm six weeks ago it was at the bottom of the trading range at .90p The safety net is because of the $350m in cash it won’t fall any further.
In my opinion £1.47 is not a good buying price.
Personally, I feel that yesterday was a historic day with Shell cutting its dividend. Although oil prices are recovering a touch, the economy is in a mess and will be for a long time. In an environment of dividend cutting, money printing, high debt and sluggish activity, those companies that are able to grow and actually increase shareholder returns should do well. I don't see Centamin falling heavily from here unless there is another huge sell-off and dash to cash. If it is orderly, I think (hope?) there will be further rotation into PMs and the trend is upwards. I am buying the dip and have a buy order at 1.47 and have freed up some cash in case it goes lower.
I too have sold nearly everything. Holding cash waiting for the real crash.
Tiger, I too was planning to post sell in May. I have sold everything this week, at what seems the end of this dead cat bounce, apart from my far too many gold miners and Japan. The big question has been whether Gold rises fast enough for the collapsing market not to bring down Centamin. I have hazarded that is to do with the speed of the collapse, fast and gold will need to be sold to pay margins, slow and it can be more orderly. Unfortunately the market fall seems to be starting with gold down too, which is worrying for Cey share price. We shall see...
Jimbo_jet good morning.
I posted an open question on this board in February asking for real time quote website recommendations, Siko replied with Webull. I downloaded the app and entered my stock list. But only after I had gotten used to the app and it’s reliability, about a week or so did I feel confident enough to delete the crappy app I had been using up to then. Such was my attachment to the real time service and as you rightly say the rug was wiped out from under me.
I use teletrader that’s where I get the premarket quotes I post each morning, I’ve loaded my stock list there and will find out today if they’re any good.
Unreal action by Webull yesterday...
I emailed them, at least you got a reply.
Happy Friday y’al
So I, like many I expect, are on the lookout for an alternative. It needs to be primarily a mobile platform but a desktop app would be a bonus so I would love to hear anyone suggestions? Ideally, I'm looking for a app which can show a list of live prices and a mini chart alongside the price like Webull which I found very helpful.
So far I've identified the following who I will be trying out but would love to hear other's thoughts on these platforms:
I have them all installed now and will be trying them all out.
Hi Gold Gnome!
I agree that IF we must invest in stocks, Centamin is one of the very best - a gold miner, no debts, cash rich, long LOM, fantastic resource, solid dividend payer etc... And in a few months I'm sure all kinds of opportunities will appear to companies that have the cash and balance sheet strength to take advantage. Cash will be king. There will be distressed assets going cheap galore.
But I do wonder if (for us PIs) cash won't be the best position of all for the next few months.
The only way that asset values can stay this elevated relative to the crashing real economy is if the Fed and other central banks print huge amounts of money and hand it to the rich to invest in the markets. Let's call it "welfare for the wealthy", whilst the working class are losing their jobs and homes. If they do that, I think there will be riots in the streets. And rightfully so.
Good morning all. Yes it looks like Webull is a goner for LSE as I have just received this very short reply: 'Due to change of vision from the higher ups, we will not longer be providing data feed for LSE. Sorry for any inconvenience.'
Unbelievable. By far the best service I have ever used and given less than 24hrs notice of them pulling the rug from underneath you. Shocking contempt for their users if you ask me and someone must have lost money yesterday because of this.
London's FTSE 100 was lower on Friday ahead of United Kingdom housing prices data, which will be published by Nationwide before the opening, and the Bank of England's report on mortgage applications, set to be released early in the trading session. Yesterday, UK Prime Minister Boris Johnson estimated that the coronavirus passed its peak in the country, as additional 674 victims of the disease have been reported in the authorities' latest update. The DAX in Frankfurt and France's CAC 40 will be closed for International Workers' Day.
The FTSE 100 dropped 1.32% at 7:27 am CET.
The euro was flat compared to the dollar at 7:28 am CET, trading at 1.09516. The British pound declined 0.19% against the American currency, going for 1.25708 at the same time.
Breaking the News / MS
Might be good to go to quality businesses, good margins, producing real needed service is and products...CEY? gold?
For 3 years, the administration of U.S. President Donald Trump has attacked and mauled the global trading system. Now COVID-19 is stoking new pressure for protectionism, and the World Trade Organization (WTO) needs to prepare for more countries (not companies!) to capitulate under the strain.
If the trend is left unchecked, the world may/will repeat the experience of the 1930s, when industrial production fell by nearly 40 percent, unemployment soared, and economic activity remained anemic for the better part of a decade. Then as now, trade barriers did not cause the problems. America’s Smoot-Hawley Tariff Act did not trigger the Great Depression, and tariffs today will not have caused the COVID-19 depression.
But such barriers could affect the recovery, especially given the modern importance of cross-border supply chains. What happens now will influence the shape the future ...
Will the world be a better place. The NGO's and all the groups with real or imagined cases are taking to the streets...
Just lost $70b on the ASX today, my guess more to follow. Home prices in OZ are looking super vulnerable. The big 4 banks looking very soft. The economy? "The reality is there is no V-shaped recovery," ANZ CEO.
"Why? Because our economies are open and very, very dependent on exports and tourism and migrants and foreign students. So what does happen when the barriers go up. The foreign students don't turn up.
Going to be a lot longer for the market to come back than September is my bet.