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Interesting times indeed Bob,
Thank you for your very informative thoughts and your opinion on the situation Tornadotony Like others members I have also been puzzled by the opening Centamin share price antics for a few days and wondering why this was, your explanation has enlightened me on some of the influencing factors (e.g. Saudis etc)that I hadn't really considered before.
Really good of you to share the benefits of your experience with us on here.
I also recall the Colonels thoughts from a few days ago.
MrBond I can only agree with you on your thoughts, the general public are so brainwashed with constant media panic level hype on Covid-19 that they are not even considering the effects on their lives the financial aftermath is going to have which may well last for several decades!
Our politicians appear to be just plucking huge amounts of cash out of thin air and chucking it around at anything they think will appease the masses for a few days whilst we are confined under almost marshall law.
Trump continues to rant in denial of a situation the US that has been made far worse by his failed and flawed fiscal and foreign policies!
In the meantime the spiv's that manipulate the markets selfishly continue trading paper up and down as though it is just some sort of game thinking they are safe because whatever happens the politicians are afraid to let them fail and so will bale them out with the peoples money, problem is will the peoples fiat money be worth anything when the payback time for this mess comes?
Thanks Tony, very cautious of the " margarine spread "at open but offset by limit order.
Interesting info on Saudi oil manipulation . Do you trade put and call options on oil, not sufficiently educated to dabble but has been on my mind for some time. Timing is all and who can say when Russia or Saudis capitulate . Pundits forecasting Saudis will cave first but at least 12 months away. Staying clear for now but your insight in centrally held gold sell of by stressed economies frankly not what I had factored in..
Regards
Isolated Bob
It may not gap at all in the first 60 seconds or you get a daft spread of a buy at 121.8 where they buy 5 shares on A trade and the sell is 119p or something like it. Things can change dramatically overnight. Saudi Arabia is a couple of hours before UK open. If oil has tanked as the Prince dump 5 million barrels per day into the market and force 15 million barrels of production to go into rig lock ins elsewhere (where an oil field can not sell oil to the local refiner as they in turn can not sell the products refined from the oil) and sets off a chain reaction than gold is going south in a big way as Iran, Iraq and many other countries will sell gold to support their economies as they earn practically nothing from their oil. If the Prince does nothing and says they are adding a little into the market and sets a floor price say at $28 Brent on futures than gold may well stabilise and be back up to $1610 and Centamin does very little tomorrow. I must stress what anybody does with their shares is their call. Everything I write on here is just my opinion which I share and can be wrong or correct. If you read Bubba's comment on Kitco today he is spot on with my own view and I only just read his article a few minutes ago.
All the best. Tony
Hi Tornado
Further question , on the basis that gold tanking at what level do you think CEY will gap down at open tomorrow/
Isolated Bob
Thanks Tornado, will put limit orders in on that basis. Much appreciative of your thoughts Certainly gold retrenching quite sharply . Is this due to the lack of jewellery sector demand as comprises 50% of the physical gold market with India and China being the main players. However and equally there is the question of retail gold being sold into the market to cover domestic expenses in a less socially supportive environment. Not at all convinced by fiat currencies as with massive behind the scenes money laundering (currently called Quantitative easing as comfier term) stagflation (as posited by Tibbs and others of knowledge here) a real and massive liability looming on the horizon. Yuan ????
Regards
Isolated Bob
But in that time Centamin will continue to mine and hand out dividends
The whole market,if government stimuli ,does not work.Is not far from total collapse.
The longer the quarantine the more likely it will be.
The unemployed figures will sky rocket and as with shale gas, lenders will fail, through bankruptcies.
Then a chain reaction of failures.
Great Depression 2.
I might be wrong,I hope so.
Because by the time of recovery I will be pushing up daisies.
This could well be on 110p tomorrow and if that does not hold we could be on a low 90's retest with gold way back down again by Friday or early next week. Good time to catch a falling knife is on a double bottom. Well you all know how I will play it as I will put entry trades on here if it happens.
If Saudis have a change of heart and do not dump oil tomorrow and the price holds then gold edges back up. So if you bought your relying on a certain prince not being stupid. Basically a further crash in oil pulls down the banks which in turn pulls down the whole market as it symbolises a collapse in economic demand for just about everything than groceries.