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Yawn, more passive aggression from Mr T.
One day he'll surprise all on this forum, and post something of relevance instead of his usual, out of date, copy and paste waffle, and insults.
Steve,
Renumber that forum T2W, you will enjoy it I'm sure, your wasted here !
The price of precious metals dropped on Monday amid uncertainties regarding Federal Reserve rate cuts and the still-hot labor market. Last week, the Fed indicated it could hold rates for longer than previously expected, while the nonfarm payrolls report for December showed the United States economy added more jobs than analysts predicted.
Gold fell by 1.07% at 6:31 am ET and sold for $2,022.80 per ounce, while silver slumped 1.27% to go for $22.88 per ounce at the same time. Platinum declined by 1.18%, going for $954.11 per ounce at 6:32 am ET, and palladium lost 1.98%, selling for $1,000.57 per ounce.
Baha Breaking News (BBN) / DJ
Ten days until the 2023 Q4 numbers are released.
Usual passive aggressive nonsense from Mr T- some things never change…
You repeat these way after the event Mr T- the key is always at the point the data is released, hence I post this.
Pointless reading repeats and move as already occurred .
Likely most people will watch or hear about those events as they are repeated often enough via all the various media streams.
Steve
Yes of course and a major support line taken out for good measure this morning. I have cash in the portfolio in case the pull back went deeper. I believe a significant rally happens at some point and will wait patiently for that event to unfold. Hoping to retire from all the stock investing/ trading by the end of this year. Tony
Never mind Tony,a 5% pull back is better than some and from past experience there has usually been a pull back preceding any decent upward movement!
Cheers!
Steve,
I am certainly not aware of ever claiming ownership of any forum, I have always thought this forum was owned by the host that being the LSE.
Waffling and being spiteful, I am no wish or profess to intentionally practice either.
You will likely be posting later to update those who are interested on how your days trading strategy panned out.
Have a lovely day!
Most likely to do with the intraday gold prices and market data Tony.
Last 5 days:
CEY down ~8%
FRES down ~10%
HOCHS down ~11%
Hi
indeed uncertain times right now we are kind of a cross road in the economies with added geopolitics....lol one may say nothing has changed then.
For POG many analysts are predicting an average price of $2120ish, important data to kick of Q1 trend is Thursday 11th inflation data from the US.
I think though $2120$ prediction is just a safe bet forecast, due to the anomalies of current market forces at play. What I mean is that of recent there as been some of the most extreme geopolitical events, which seems to have less and less effects on asset markets, beside the ever more important focus on rate and inflation. But we all know that Fed rate decisions often are not based on correlated financial data, if anything one could say that given the current US economy and low growth, a contrarian view would be that even if inflation data comes out a bit hot, it will not imply that rate will go up....and we are back to a situation of no man land....and uncertainty.
Possibly creating a market dominated by geo-news flow till visibility in the economies is more clear, this could last more than 1 year imo.
Best approach for POG is sit tight and average down for the long terms.
The current 6% pullback is the largest January pullback since 2011 on the Centamin share price. The best year was 2013 with a 43% increase. The highest pullback in more recent times was -4.2% in 2021. 2020 the year before gave a 7.3% increase in January. Of course company news during the month can be a dramatic factor. Centamin is overdue on a lot of good news.
I read the first paragraph of your post Mr Tibbles as it’s as pointless as always, so stopped reading.
You don’t own this forum.
You continue to post pointless waffle.
Stop cluttering up this board with your pointless, spiteful posts.
I suggest to go to another forum where your constant pointless waffle is more likely to be appreciated.
The majority of CFD retail traders lose!
The FCA estimates 80 per cent of customers lose money on CFDs. Regulators first cracked down on the sale and marketing of products to retail clients three years ago.
CFDs regularly target inexperienced consumers, which is evidenced by the fact that the FCA review found that the majority (76%) of retail customers lost money and in an earlier review found the average losses totalled £2,200 per person. Worryingly in several instances, pension funds have been invested in CFDs based on the bad advice of marketing companies or financial adviser
https://lexlaw.co.uk/solicitors-london/mis-selling-complex-financial-derivatives-structured-products-fca-review-cfd/
https://www.fca.org.uk/firms/contract-for-differences
Steve,
You seem to feel the need resort to making such wrong and unsubstantiated assumptions and resorting to personally rude and unjustified spiteful comments about some other members who may want to use the forum for giving or exchanging views and information about Centamin and the mining industry over the long term.
I would suggest the you are on the wrong forum,I should have thought that T2W would be far more useful to you and you could engage with others of a like mind as your primary interest from your post's appear to be in trading in and out rather than investing in a mining stock
Your assumptions as to my knowledge of CFD trading are are incorrect to say the least, it is in my view little more than any form of gambling that is studying form with prevailing conditions and betting on the odds which usually involves involves high levels of leverage admittedly usually interest free if the position is opened and closed with the same trading period, this is one of the reasons that so many traders are in and out in such short periods, especially at week ends, although this can contribute to panic and to share price instability due to wrong assumptions about a particular stock.
As a long term investor in Centamin I have every right to express my views and indeed do so including questioning the company directly and seeking information and sharing it with potential and new investors as informed as possible
Your statement that you learned all you need to know about mining a few years ago seems rather arrogant as knowledge of any industry, especially one like mining with so many different facets is gained over many years and can never be regarded as finished, it is always work in progress and ongoing.
As Centamin investor I am grateful for all the detailed information contributed by other members on a range of subjects to the forum, especially from former mining industry professionals some of whom have in depth understanding of the development of the Sukari operation and also new recourse explorations and development
Tibbs the revisions downwards in November and October on job numbers imply the December jobs numbers may also be reduced dramatically in USA. There is significant evidence of an economic downturn in the interest rate affected areas of the economy. In the UK the hospitality sector is currently taking a huge hit despite the recent holidays and is having widespread impacts on other business sectors. The central banks are doing the usual of acting to slowly to what may arise in coming weeks. USA economy would be in recession without a colossal increase in Treasury debt rising $ 1trillion dollars every 4 months.
This morning the U.S. Bureau of Labour Statistics released the non-farm payroll employment report for December at 8:30 AM ET.
There was an immediate and strong knee-jerk reaction to this report’s release.
8:30am shows the increased volatility, a $20 price swing during the first 30 minutes after the report was released.
Gold futures were trading at $2046 and within the first few minutes declined by $16 trading to today’s low of $2030.
However, the price difference between the open and closing price during the first half hour was only one dollar.
https://www.kitco.com/news/article/2024-01-05/stronger-expected-us-jobs-report-results-volatile-price-swing-gold
That's because, Mr Tibbles, you fail to understand, despite years of comments from me and others, the simple basics of the markets and trading. No idea why you mean "in and out trading fees" you refer to are, you need to get into the internet world. For example, my trades cost £6 per trade, irrespective of volume. It's possible to get cheaper but this amount is tiny and the platform is extremely quick.
As I've said many times, yet clearly you have a basic comprehension problem, I trade around £100k at a time.
So for example 7 trades for a total of approx £100,000 cost £42, and 2% profit on £100,000 is £2,000 so the gain on a 2% day is £1,958.
The other day I posted that I exited at 98, when my stop loss cut in, which was put there for my normal reasons.
Had I not put in my STOP LOSS and let it run, I wouldn't have exited at 98%, I've had lost a further 4.64% which I avoided by my stop loss which equated around £4,640 for me. I bought back in at 93.45, all posted on this board so effectively avoided a £4,640 hit and made as the stock then rose to 95.25.
So if you think you think is all “pointless” you need to look at yourself.
Over the years I've consistently done this.
I don't win all the time, but way more than I lose, so this is key- my strategy (for the umpteenth time is data ased). I have posted before here when I've not got it right also.
Mr Tibbles, you can moan about CEY all day long as you do constantly, if you put anywhere near the same effort into understanding, the markets, equity drivers, and so on, you may make some money.
On your CFD trader point (and I doubt if you’ve ever been one), they work both ways, and if was as simply as "most make a loss of Friday" why don't most flip from long to short? It's just not as simple as you purport.
Dasut- the problem with company data, unless its an actual RESULT in an RNS it generally does little to the SP (apart from a takeover rumour or mine issue- both have happened before). Some here post constantly incredibly detailed mining info, which I learned a few years ago is utterly pointless if decision making for SP moves. I play the odds game and normally am out of this stock the night before a scheduled RNS, although sometimes am in if I believe the company predictions based on what I know. I hope this helps…
Depress gold not dollar in previous, need another coffee.
Currently holding above a major FIB support line with two further support lines above 2030 futures. Bloomberg argument to push up rates and depress dollar makes little sense on no rate cuts in March. A lot can happen by then and ignores geopolitical issues completely along with USA election.
Equities in Europe traded lower in the premarket on Monday as investors anticipated the newest results on Germany's trade balance and factory orders and the Eurozone's consumer confidence, economic sentiment, and retail sales.
The DAX declined by 0.19% at 8:00 am CET. At the same time, the FTSE 100 dropped by 0.39%. The CAC 40 decreased by 0.19%. The Eurostoxx 50 lost 0.28%.
The euro rose by 0.06% against the dollar at 7:59 am CET to sell for $1.09461. At that minute, the pound sterling stood flat against the United States currency to go for $1.27146.
Baha Breaking News (BBN) / JR
Happy Monday y’al
Yes Rebess,the hedge option so far has not been needed.
But wise ,the markets are volatile.
Ah, right Mr Bond. - So they have a 'PUT' option in place is that it? - There is no actual hedge-position.
Hi Dasut,
I take your points about the positive updates/data on progress being made at Sukari and the reported changes of corporate policy in other area's of the business, it must be quite conundrum for the majority of traders who usually can assume assume that such data will result in a reaction of a predictable magnitude in the company stock price of the company.
But as long term holders have come to understand Centamin has always been a contrarian stock even at the best of times, but that is ever more so after the severe loss of marker confidence as a result of the forced admissions by the company and the subsequent huge cost of what may be regarded as almost a Go back to start of Sukari operations with a change of tack in relation to all external projects !
So in this situation its very much a case of we are where we until there is some proof in the pudding that being the actual delivery of the promised results!