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Last add from me. By the by when I opened this, SP was 343+ with DMA (direct market access). Not so here as June contract. Higher spread & SP than market price from CI due to no more costs until expiry 14 June. That's for clarification. Thus SP closure may also be higher than DMA. Preliminary target by June: 450+ (gap at 469+ still unfilled). About 5 months for that seems realistic assuming details of China's 5 year plan in March provides a catalyst. - GLA!
Disappointing day. Sub-400 for first time in some 7 years. No quick fix likely for entire sector. Strong temperament needed. At least reducing my one of my losing leveraged positions here on 12th November (as posted in this thread), proved a better call. No concerns for my real shares in last 2 buys, as I'll sit tight. There's a gap at 469+, which is my target. The leveraged longs recovering, however, may take all of 2016, if not beyond. - GLA.
Railride, agreed. Today China suspended Shanghai after only 14 minutes. That's plain nuts as it stops other traders buying up the dips if they wanted to. - Best of luck here!
long position at 403 the market is all over the place china cant keep suspending its market it sits were it sits deal with it.
Premeditated add at near this level. Last one here. One never buys the low, bar luck, especially in the crazy sector. Real shares so no problem sitting tight. We may need to. Headwinds continue. Asian markets in panic mode. Shanghai suspended again closing over 7% down. As we discussed here before, if CU falls to $2 or lower (CU falling again), some smaller miners may well announce more drastic cuts soon from necessity alone. Review this one at 450+. - GLA.
Reasons: despite markets tanking, appears to be some support just below these levels. As back in cheaper than my recent sells, for me overall risk seems worth taking. TA view: gap at 469+ from close on 31/12/15. Intend to hold for at least 470+. FWIW, recent high 475+. Was over 520 only as recently as early December. Real shares. Add once more only if circa 400 seen. - GLA.
Reasons: as before. Prefer not to hold gains over festive break. Also, volumes may be low again. Hard to call a decisive change in trend just yet as we've been here before in this sector. In any uncertain climate, booking gains not to be regretted. Would rebuy again if reversal seen later. Still hold 3 SB longs here for much higher targets. That'll be the case for some time. - GLA.
Hi Larryh, Good question. Kindly note, ANTO's divi yield currently not high. Only 2.03% going by Google finance. Update on future divis should come during next earnings report in January & may depend on annual profits & future forecasts. If they don't pay one of their special divis on top of the usual divi, & in this climate I don't see that as likely, then the main reason for buying this is probably the potential recovery in SP. Will be much higher later when mining sector recovers. However, when exactly depends on copper prices & global demand increasing. I still hold the lion's share of my stake here, but in this climate, as you can tell by my previous post, I'll also book guaranteed gains as available. - All the best!
Reasons: ANTO seen over 20p gain today, Cu prices still under pressure, sector still facing lots of uncertainty. With low of 408.90 seen recently & festive break soon upon us, overall, was time for me to take more gains from market. Would add back if it falls to circa 425, maybe lower. - GLA.
Hi Jack, I'm considering buying a few real antos for the longer term. One question if you know please - will anto pay a divi at these low prices? Thank you, larryh.
RR, My last buy here with real shares, so not unduly concerned by another L/T low marked today. 408+ intraday near 7 year lows. We know this will take time to bounce back. First we need CU prices & global demand to recover, probably more copper production cuts, etc. FOMC rate rises look imminent on Wednesday 16th, so who knows what the short-term effect will be on most miners if we see an even stronger dollar. Still very challenging conditions. - All the best!
fan there will be a great profit at this price jmo gla
Reasons: CU prices back to highest level since circa 17th Nov. ANTO's range then was 470+ to 488+. http://www.nasdaq.com/markets/copper.aspx?timeframe=1m Of course CU may drop back, but that's the risk. Despite panic across markets, daily volume here so far low. Suggests seller exhaustion may be not far off? Won't dally with profits in this crazy volatility, even with these real shares. Review accordingly. GLA!
AAL's woes not helping most miners. 85,000 jobs to go from AAL's workforce of 135,000. All divis scrapped for a year. Their SP down over 12%. Outlook is poor. http://www.bbc.co.uk/news/business-35038076 More than merely disappointing here. New 6+ year low at 441.10, closed 441.70. At this rate, we'll probably go lower. Nothing more to say until this recovers, but it may take longer than some of us anticipated. - GLA.
All quiet here & perhaps no surprise. Today just seen new 6+ year low, 458+. Frankly, unless CU prices pick up via increased demand from Asia soon, hard to call a bottom here. Glad I reduced positions, but wish I'd sold the lot previously as still hold 3 longs. So far, worst buy I've made. - GLA.
Back down to 3 longs here. Had to reduce earlier in the day in view of Copper prices tanking to new 6 year lows & China data continuing to be poor. All miners being hammered by the day. As over-leveraged, closed a 593.06 long at 489.31 for 103+ pts hit. Painful! Gave up about 50% of my entire ANTO gains this year. Trade posted live at 12.30 on another ANTO BB (same username). New long-term closing low here of 480.80 so it may get worse before it gets better. At least no more hits likely, but I expect to be holding my existing 3 longs until at least well into 2016. Will review targets when we see 625+ again. - Until then, GLA.
That 4-traders site I linked on 26th October has removed the date of 12th Nov for "Q3 earnings". Previously, it had the production report & earnings on separate dates. Obviously an error, now fixed. All was released on 28th OCtober. Nice rally today. Still hold 4 longs here. Whilst some brokers talk ANTO down, for eg. Goldman Sachs with new 440 target, Bernstein just reiterated 1025 target. Probably fair to say most brokers are clueless about this in short-term, such is the volatility here from week to week, even day to day. Will still review target on 1 tranche at 590+, maybe 600+. Others held for higher. GLA.
talking anto down ill be buying at a bargain prices its a very well run company they never b.s you they tell it how it is, they will be making shed loads of cash over the next few years and giving back to the sh as they always do jmo gla
Antofagasta lowered its full-year production guidance, reported falls in copper, gold and molybdenum production and said its cash costs have risen throughout 2015 whilst commodity prices have plummeted
Limit sell order on this at 589. Hoping for 20+ pts. If triggered, will post later. Back to 4 longs here. - GLA.
Not stated on ANTO's events calendar yet, only the Q3 production report on 28/10, but another site shows that bigger Q3 Earnings report out a bit later, on the 12th of next month: http://www.4-traders.com/ANTOFAGASTA-PLC-4001646/calendar/
Of interest: ANTO Q3 report out this Wednesday. Liable to impact next price trend: http://www.antofagasta.co.uk/investors/events-calendar.aspx GLA!
Trade posted live on iii, closed last Monday. Forgot to post here as was rushed. But I decided on taking a considerable hit on my last short due to sentiment recently improving in mining sector, talk of a Copper deficit in 2016 + China's leaders stressing "no hard landing' there. Now hold 3 longs & will review one of those at well over 600. - GLA.
Back down to 3 longs here. Sold this for 7+ pts earlier (posted live on iii), bought back at 552.94 & limit sell order triggered today at 583.42 for 30+ pts. - Time of sell 12.27.03 exactly. Some 38 pts profit total in quick time decent enough, but I'm only trading this as I still hold 3 long positions for much higher targets. - GLA.
Added earlier this morning. That'll be it for me until we see another decent rise. - GLA.