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Strange price action this morning. At one point you could buy at 14.75 and sell at 14.81 and now it's 14.5 to buy and sell. Just glad we got that placing away at what now seems a decent price!
Took some more today at 14.98
Didn't think I would get the chance to buy under 15p again so glad to get the opportunity. My target is around 30p so I am willing to buy anything I can under 15p. Reliable production, reserve growth and production growth can only mean one thing long term.
The Fed is running out of firepower alright, there is only so much mortgage backed securities garbage it can buy, it already owns 40% of the US Mortgage Market in one form or another which is why you are now having psychotic volumes and prices in the US Housing Market, with the Fed owning the market, playing the US Housing Market as an investment has become a one way ticket to double digit returns as “investors” have twigged that there can never now be a housing correction collapse as the Fed can’t allow it, it would crash their banks and the Greenback, so the bubble will just keeping growing until the inevitable POP!
it will have to be Congress who fills that gap, and the numbers (if it is a Biden clean sweep on Nov 3) will truly be eye watering, it will probably be a USD$4 / 5T number IMHO.
Shareminator, that is exactly what I'm expecting to see.
The Fed needs an excuse to print. If markets are at (or near) all-time highs, it hasn't exactly got that excuse. Toys need to be thrown out of the pram first.
We must also remember that the Fed has also said that the USG must pass more stimulus measures (in order to create something (Treasuries) for the Fed to buy). Depending upon who controls the Senate & who controls the House, this could delay stimulus measures even further. We could see stimulus as early as next week.....or we might not see it until February. I don't doubt it's coming, but we'll need to wait a week at least before we get a better idea of when. Presumably other CBs will act on their own initiative & won't wait to see what the Fed does. And let's not forget that the Fed meets next week. Exciting times, for sure.
I don't think anybody foresaw SHG falling below 15p prior to the placing news. I have some powder dry for when there is a shift in market sentiment but at the moment not tempted, with all precious metal stocks taking a hammering today.
Since gold topped out in early August we have had nearly 3 months of decline, but we are still trading more than $300/oz higher than at the start of this year. I'm expecting a quick drop followed by a sharp rally similar to what happened in April when lockdowns came into force and then stimulus followed. This Christmas should coincide with some of the greatest stimulus packages the world has ever seen.
Cheer up folks, Santa and his little helpers at the Fed are coming
Margin calls in the US market must be settled at 6:30pm our (UK) time. Will be interesting to see if the metals (& miners) take another leg down as a consequence.
If so, tomorrow morning will be bleak for UK stocks.
If you buy in a placing, surely you have an investment timeframe of more than a week.
Unfortunately the surprise nature of the placing (even though it makes sense if you consider remarks made by EZ about rewarding shareholders rather than making them wait) has coincided with some gold price and market weakness but these things happen and is the reason why you need patience.
Thanks or cheering me up on what is an awful day in the markets. CD and viable. Credit BB for calling it yesterday although there was not that much I could do about.
Don't fret unnecessarily, Tornado. We have all been down that road.
My guesstimate is the overhang hasn't cleared yet.
Sit tight for the present.
EZ with his banking experience should have been aware of having another announcement waiting in the wings to (re)stimulate the SP.
I can't see from where the next fillip comes.
Singida update could be next. A lot of overburden must have already been cleared.
The pathway is laid out in https://www.youtube.com/watch?v=ex0xO1A3Rvs
(Gold down $32 at the moment.)
I certainly feel like an idiot for buying just over 16.5p. Last time I buy in a placing - new golden rule.