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Hi Velo Sorry for the ridiculously slow reply, but with work I've had very little stock market time this week, which I'm gutted about as there were drops left, right and centre (and would've had a bit more SLP at £132, if I was aware). Thanks for your reply and for the welcome. I didn't take your post as accusatory at all and I appreciated the comment. I just hope that those above average returns may continue, as the stock market is certainly fickle, espsecially with everything going on at the moment, with increased inflation and potentially increased interest rates. Crazy times. Look forward to more of your posts on here. All the best. Ross
Thanks for filling in a little on your investing background Rojen3. I'm tied up all next week, so almost posted late last night (to put something straight :) but can spare a few moments this morning, to post now, instead.
And that is: I wasn't sure my post to you would be taken in good spirit and hoped it wouldn't be misinterpreted as possibly accusatory, or somehow unwelcoming; so I'm pleased to see your post this morning is robust and confident.
Again, your start in investing is off to a good start (impressive) and IMO an above average start, and by buying in March of last year (hopefully the latter half of March :) is with hindsight, the seedling that no doubt provided the perfect launch to your investing career.
So here's what was omitted from my initial post - Welcome to these forums/boards :)
That's no worries and yes I have notoced that the short time that I've had experience in the stock market, large increases (leading to sometimes overvaluation), to a reasonably quick pullback (which is what I feel could happen in the coming week(s) with SLP, I'm hoping not of course ?? Thank you for your comments on my investment instinct, I've been investing since March 2020 (like a number of people) and started with £4,000 I had invested in a few different Index Funds and have made substantial gains (in terms of my portfolio), from two technology funds, Games Workshop, Sylvania Platinum and Polymetal International PLC, seems to be working ?? I make sure to do as much research as I can on each company and it's likely that my work background in Accountancy and Finance has definitely aided me along the way. I think you're right about a stronger pullback in June, seems to happen before results are released with certain companies, (even when they're likely to be brilliant). Definitely in this for the long haul (at least a year to two years) Thanks again for your reply ??
Thanks for the appreciative mention Rojen3. You ask: "... does anyone think there will be some kind of pullback .."
The responses of:
------------------------------------------------------------------ " ...History suggests that spikes if sharp will pullback... " & ". . . Does seem two steps forward and one back.. ." ------------------------------------------------------------------
- highlight a truism of the stock markets - that they're one of over reaction, and subsequent corrective reaction.
Well done on your trading in SLP. Your query sounds most innocent given it was your first ever post, and only recent membership to these LSE forums, but your superb trading record related in your post, suggests experience far beyond mere beginners luck.
So c'mon, tell the truth and shame the devil :) How long have you actually been investing/trading?
If you are a newbie, then the instinctive feel you have with SLP means it is us, who should be asking you :)
I'm thinking that you ask: if 'in the next week', because you may already know that the SP is currently in overbought condition and/or a combination of the mantra: "Sell in May and go away, and don't come back until St Swithin's Day" :)
- However, I'm more concerned about a stronger pullback in June than a smaller corrective reaction to this intra-month high.
(I have a lower expectation for the final % gain for the actual month end to May - however, Stoodio's feel for the price is holding sway to being on track to meet his expectations).
Whatever, the SP is in a longer-term predominant bullish uptrend, so all is just noise in an overall, ultimately rising trend.
Hi all and thanks all for the quick responses! ?? Toptiger - Yes I do agree, that's why I do try to trade this on the highs and buy on the lows with SLP, because it is almost directly reliant on the basic naterial prices (like most mining stocks), tend to get a bit nervous with the amount of money that I have invested, as it's quite a largeish portion of my portfolio (which I know is probably unwise). Patrm - Yes since the last spike that is what I've been doing, adding on the dips, it's just hard not to put so much money in SLP as it's such a cracking stock. Yes I think with the recession, (hopefully) low interest rates and changing evironmental standards, SLP has a little more going for it than solely the basic materials basket price, compared with a lot of miners. Sirius - Yes I definitely agree there, I think I might just keep topping up on the dips, instead of outright selling and buying back in. Thanks for that I appreciate it ?? I've had a look and the financials look pretty good and the volatility even in May is like a rollercoaster! I think I'm going to have to have me some of that. Thanks again and GL. Ross
Hi Ross This is long term. (Investing.) If you want short term trades, don`t look here, look at e.g. ITM: 11.3% today off the low of yesterday. (Didn`t sell - more to come) :) In regards of SLP - onwards and upward! Buy and hold for 12-18 months min. Just sit back, buy the fk dips and chill. Patience is the name of this game. She is a beauty as Stoodio keeps (rightfully) reminding us. My suggestion is listen to him; he has been here from near the start (and is still here). He is right; to do that requires cajones de piedre! (balls of stone) :) GLA S
Does seem two steps forward and one back. Been trying to add on the dips, somehow turned into second biggest holding. Seems good future for commodities generally and especially here with economies recovering, tighter emission standards, supply constraints and dollar weakness with Biden's spending spree. gla
Hi guy's, I've been watching this thread on SLP for a while and I've been invested since August last year. I've managed to sell at the last spike to £1.32 before this most recent spike and buy back in again when it went back down to £1.20, but my question is, does anyone think there will be some kind of pullback with SLP next week onwards, after this spike to £1.42, the same as the last one? Or do you think onwards and upwards from here? (Hoping for the latter). Thanks in advance and thanks for all your comments on here, especially Stoodio, Velo, Sirius, they've been great to read and learn from. Ross