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Hi Paul,
Had Basel 3 not been implemented then quite possibly the POG would have been lower than its present lever, so yes it has helped to some extent in stabilising/supporting the POG, albeit not as much as may have been hoped for.
The establishment tried to suppress the rise of the so called peoples crypto curries and when that failed those that control the markets have simply taken most of it over anyway by creating ETC crypto/trading funds enabling them to take back control and will be making even more profit out of something that doesn't have any intrinsic value.
So why trade in real gold when the alternatives without any intrinsic value are easier to control and offer even bigger profits in the short term
Then the unexpected world events such as a 2 year pandemic lockdown followed by escalating wars/ conflicts in Ukraine, Gaza, Yemen,and other West African States, higher inflation Nigeria & Argentina now around 250% and rising brought about because of a world reserve currency that is sustained by artificially high by FED manipulation and Wall Streets and London's unfettered paper trading on the futures commodities markets with the additional increased transportation costs due to excessively high oil prices and transportation cost's due to conflicts making basic commodity prices higher, even unaffordable to some
Also issues such as this
"It would also allow the Kremlin to consolidate control of Wagner’s business network in Africa, including potentially lucrative mining interests, following the death last year of the group’s founder Yevgeny Prigozhin," the publication writes.
https://www.pravda.com.ua/eng/news/2024/01/30/7439536/
https://www.scmp.com/news/world/africa/article/3250377/russia-hires-its-own-africa-army-succeed-wagners-mercenaries
https://ctc.westpoint.edu/after-prigozhin-the-future-of-the-wagner-model-in-africa/
Try listening to the BBC World Service,it was set up for times like this and there's coverage that you don't hear on the daily mainstream channels, or even see covered in most mainstream media.
https://www.bbc.co.uk/programmes/p016tl04/episodes/player
Keep Well
Tibbs
Major European stock market indexes traded mostly lower during premarket trading on Tuesday ahead of the release of the Swiss trade balance and Eurozone construction output data. In addition, Barclays will reveal its latest business results.
The DAX decreased by 0.09% at 8:00 am CET. The Euro Stoxx 50 lost 0.10%. The FTSE 100 declined by 0.22%. At the same time, the CAC 40 was flat.
The euro was 0.08% lower against the dollar at 7:58 am CET to sell for $1.07700. The British pound fell 0.10% against the greenback at the same time, to sell for $1.25859.
Baha Breaking News (BBN) / DD
Gold currently $2019.90
I will broadly agree SteveJones999, whatever it takes ,including confidence in the US $ as Worlds trading currency.
The FED especially Powell still have to worry about a change in government though, as Trump clearly told Powell ,he will be gone if he is elected.
So they have their work cut out until elections making Bidens crowd look good.
Until elections are over and resolved ,its going to be a bumpy year for Gold and PMs.
FED doing a good job-
Where’s the guaranteed deep recessions(some were predicting 1929 levels lol) and massive job losses predicted by soooo many experts this time last year and the year before?
Quite the reverse.
Credit where it’s due.
The FED role is case some are not clear:
https://www.federalreserve.gov/aboutthefed/the-fed-explained.htm
So what does Andrew Maguire have to say about it Mr T?
We had all the talk about Basel 3 and Kinesis making a difference, but you feel nothing has changed?
While this share price isn't doing much positive at the moment, I feel we are in better shape than we were any time since before the wall and Josef and his mates doing one. We have to hope that it translates into a rising share price and decent dividends.
I feel much the same Rebess,
it's pretty dam obvious despite the claimed market regulation and the introduction of new banking rules such as Basel 3 the FED and it's have just carried on with their policy of financial non committal innuendo in support of the press releases of fudged figures.
The FED really doesn't care a jot and is all the more ever blatant in the manipulation and price suppression on the Comex which the market is quite happy to go along with as long as it it creates some uncertainty and plenty of reasons to trade!
With the conflict in Gaza, Yemen, the Red sea shipping attacks and a full blown war in Ukraine in the FED knows it can do what it likes !
I don’t, of course, post all my info here, but if yuou look back at my posts here on my views I’ve been right way more than wrong and it’s proven in the posts. I also post what data to watch and why- admittedly I only post a little of my data points, I don’t want to give them all away lol.
From your posts, the evidence shows a very poor predictive trade approach- the clear evidence is in your posts.
To make the profits you claim which I’m not disputing, but I am saying it’s impossible based on your posts here, so must be incredible success else unposted to get anywhere near your claim.
I fear we are all waiting for a train that will never arrive. - With Gold caught-up in a tug-o-war where it is but a political instrument in the protection-racket linked to the U.S. financial system. -The problem being that in this tug-o-war, the FED is on the other end of the rope and the FED cannot be defeated. - Meanwhile, other trains carrying multiple unencumbered opportunities are flashing by.
Steve
My positions in 2023/24 are well up despite set backs. Portfolio overall up 6% plus dividends this year. I do not guarantee any forecast hence the word probably, possibly, may, could or whatever. It is all opinion and your time scale is very short. You claim a lot of success in how you do things and good for you. I know what works for me overall. All the best Tony
(Let us close this topic as a lot more interesting events could well unfold in the market).
So many new people are pulled on trading based on chartists and their amazing predictions and so on- they lose their shirt.
This is all very sad.
“ If so I would expect the Asian markets to bring the gold price down to London close after they fill their market gaps when they open”
Enough said.
I've looked through you past predictions and approx a 25-30% success rate is demonstrated, a country mile off an 80-85% success rate claim.
Steve
Gold went up to where Asian markets closed and doble topped. They did not come back down all the way to the London market close as USA market is shut until tomorrow. The gap in the London market remains and can either be closed during the day or by tomorrow morning open. I forgot USA market was closed this afternoon.
Meanwhile, China continues to assert its dominance in the gold market. According to a report from the World Gold Council, China’s gold market set all-time highs in several sectors in January. The WGC noted that 271 tonnes of gold was withdrawn from the Shanghai Gold Exchange last month, the busiest January on record and the third-biggest in the exchange’s entire history. Total holdings in Chinese-listed gold ETFs hit a record high last month At the same time, the People’s Bank of China continued to buy gold for the 15th consecutive month.
https://www.kitco.com/news/article/2024-02-16/are-investors-swapping-their-gold-bitcoin-inflation-fears-rise
Millman said that with U.S. markets closed for the President’s Day holiday on Monday while China’s markets reopen again after the Lunar New Year holiday, traders may be positioning themselves for a higher move in the short term.
“China will be trading for basically a whole session before US markets reopen on Tuesday,” he said. “Maybe the thinking behind this move is they don't want to get caught on the wrong side of it.”
Turning to next week’s economic news, Millman said that with the FOMC minutes the only significant release, he believes gold prices are more likely to decline than to rally.
https://www.kitco.com/news/article/2024-02-16/analysts-doubt-golds-strength-next-week-retail-traders-dont-stop-believing
I use a different trading platform for my crypto than my traditional stocks. The platform also cater for stocks but charges are a tad higher.
The platform boards are saturated with people’s chart theories, patterns, trading cliches and people making the odd success on chart then getting hammered when it fails- it’s absolutely saturated with these theories which simply fail.
Tony you said
““ If so I would expect the Asian markets to bring the gold price down to London close after they fill their market gaps when they open”
Well so with gold at 2022 and the U.K. market close was about 2010- how is 2022 lower than 2010? Plus gold opened higher too.
I’m pointing out the hit and miss of approaches other than data- and so your a mile off 80% -
Only have to trad the evidence here over the past 12months- I’d say more like Ray below 50%
Not having a dig, I just deal with facts and they speak for themselves
I only post to help
USA market is shut this afternoon. So the adjustments may await for tomorrow to all realign.
Asian markets have closed the gap in the gold chart just as I said could happen. We now waiting for the gap created in the London market to close later this morning. It is so far going as I said it would. Steve I know you have your way of doing things that works with the way you invest and trade. We all have our methods that we find work for us individually. What is great that we share what we know about our methodology. The key is finding out what best works for our own way of investing. Most models that we use work 80-85% of the time and you were honest enough to say you have to reverse things occasionally. Gold direction is likely to be down this week is my opinion especially if SP500 retreats.
Major European indexes fell on Monday's premarket session in anticipation of the region's fresh data and earnings scheduled for this week. During the week, the Eurozone's inflation and consumer confidence data will be revealed. On the business front, Barclays, HSBC, Lloyds, Deutsche Telekom, and Allianz are among the companies that will share their results this week.
The Euro Stoxx 50 lost 0.20% at 8:00 am CET, the DAX declined 0.27%, the CAC 40 was down 0.16% and the FTSE 100 lost 0.11% at the same time.
At 7:58 am CET, the euro rose 0.09% against the dollar, going for 1.07866. The British pound increased 0.19% simultaneously to go for 1.26240, respectively.
Baha Breaking News (BBN) / DD
Happy Monday y’al
Gold currently $2021.32
So much for options theories and gold going down then lol- it’s gone up hehe. Yet again and again and again and again….. go on the data guys, not old cliches.
“ If so I would expect the Asian markets to bring the gold price down to London close after they fill their market gaps when they open”
Gold futures beating Nasdaq futures at the moment. No smoke without fire !
Thanks Tornado, I agree its with your verdict - basically golds bounce off of 1200 was just a "technical" trade we will see more pull back if inflation in the states continues to threaten. I can't currently see an end to that without serious job losses in the US - and that of course means even more serious job losses here !
Reading these articles tt would seem even convicted murderers in Eygpt are issued with a "Get out of jail free card" if they are rich enough and friends of Sisi, but if that were not enough then they are allowed to acquire formerly state owned assets that will make them even richer whilst the ordinary Eygptian people get even poorer and the Eygptian economy goes down the lavatory!
Kaldas pointed out that selling hotels will ultimately prove counterproductive in the state’s efforts to raise funds, as the desperately needed foreign currency that hotels bring in will now flow elsewhere.
Friend of Sisi Moustafa was convicted in 2009 for paying $2m to a former policeman to kill the Lebanese singer Suzanne Tamim, cutting her throat in her Dubai apartment.
After a retrial where he was sentenced to 15 years in prison, Moustafa served half that time before he was pardoned by Sisi, and his former conviction appeared little impediment to his newfound role as a broker for Emirati cash injections into the Egyptian economy
Egyptian billionaire convicted of killing pop star lover spared death penalty
Hisham Talaat Moustafa, sentenced to hang over death of Lebanese star Suzanne Tamim (( Moustafa was convicted in 2009 for paying $2m to a former policeman to kill the Lebanese singer Suzanne Tamim, cutting her throat in her Dubai apartment.)) ---->> https://www.theguardian.com/world/2010/sep/28/egyptian-billionaire-spared-death-penalty
Sat 17 Feb 2024 16.00 GMT
Moustafa is Egypt’s largest real estate developer, whose business empire has witnessed a rebirth since his release from prison in 2017, after President Abdel Fatah al-Sisi pardoned him of a murder conviction. His portfolio includes properties across Egypt’s new capital, the crown jewel of Sisi’s megaprojects, in addition to his hospitality arm, Icon, which owns several luxury hotels in Cairo.
His Talaat Moustafa Group (TMG) has now acquired seven heritage hotels across Egypt, including Mena House. This includes others that serve as monuments to Egypt’s recent past, including the Sofitel Winter Palace in Luxor, the Old Cataract in Aswan and the Steigenberger Cecil on the Alexandria coastline. International hotel chains continue to run the hotels, but Icon bought a majority stake in the Egyptian government company which owned them.
The Egyptian prime minister, Mostafa Madbouly, celebrated the $800m sale to Moustafa, who lauded the acquisition for bringing in foreign currency. He added that the sale was financed by “a well-known international strategic investor”.
Weeks later, the mystery buyers were revealed as the Abu Dhabi Developmental Holding Company (ADQ), a sovereign wealth fund based in the Emirati capital along with its subsidiary the Abu Dhabi National Exhibitions Company (Adnec Group), owners of the ExCel centre in London.
https://www.theguardian.com/world/2024/feb/17/desperate-egypt-sells-off-historic-hotels-as-it-dives-deeper-into-debt
16 February was options expiry in USA markets.
On expiration day, traders can employ various strategies:
Selling a bear call credit spread: This involves selling at an intraday top and profiting if the underlying stock price drops.
Selling a bull call credit spread: Here, you profit if the underlying stock price rises, especially at a possible intraday bottom.
The options expiry moved gold futures higher late on which implies selling on gold bull call credit spreads.
The gold market may open closer to where the price was when China was off for the week as a result in Asian markets. If so I would expect the Asian markets to bring the gold price down to London close after they fill their market gaps when they open. It then favours a small move up on gold so that all gaps are filled in the Asian, London for the USA markets open. We shall then know the true direction of gold on Tuesday imop. The miners could well be flat if such movements do occur with gold futures.
And the US markets are not "overheating" either, again based on data demonstrating economic conditions.