George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Reasons: news for mining sector a bit more bullish recently. Target is modest, but 607+ would do. - GLA.
Reasons: ongoing concerns re China & global contraction. Wanted to reduce my leverage exposure. Now hold 2 longs & 1 short. - GLA.
Sold at 598.63 for only 7+ pts. Still 3 longs left & 1 short. As all leveraged, looking to trade my way out of this & settle for a quieter life with proper shares. Day high 602.50, opened 544, closed 576.50. Very volatile markets! Thankfully my HSBA shares doing much better. - GLA.
On shocking unfounded days that's were patient investor make money from the knee jersey brigade what I like about anti is how many time have they thrown a special divi in they look after sh more than some gla.
Railride, a sensible approach. FWIW, I needed to use stops on my last adds here as I already hold 4 ANTO long positions. Basically, I got a bit too ambitious & too greedy, so was over-leveraged. Bummer to be taken out at day low, but hopefully another lesson learned. - All the best!
A sound well run company sp doesn't bother me I'm in at 534 if the opportunity arose to add at significant discounts due to tree shaking panic ill be buying gla whatever your veiw
Last add taken out at start. Disappointing, but that will do. No more adds from me until this finds a base & reverses well up. Still holding a few longs from higher up, but if we go lower, may reduce again as I'm leveraged. - GLA.
Disappointing end: 481. With US markets tanking, looks like my stop will be triggered tomorrow. If so, I shall also close one other position as mining sector may have some way to fall & I feel better off out of it. If I held proper shares, I'd hold. This stock will recover eventually. But hard to say when. It could take ages. With leverage, too risky in case we fall a lot more. GLA.
Excuse needless word in 1st sentence of previous comment. Meant: "but reducing losses may prove a wise call yet." - Cheers.
BhoyGeorge, sorry to read that, but reducing losses may prove the a wise call yet. Agree it's mad! This was back over 600 not that long ago, ie. less than 2 weeks. Unfortunately global Copper falling again. http://www.nasdaq.com/markets/copper.aspx Other miners well down. GLEN was 30% down at one point. Talk about a hammering. If I'm stopped later, I'm done a while, bar the longs I'm holding from higher up. These markets look out of control & predicting the bottom here is difficult. - All the best!
out at 497, once 500 broke I **** myself. Unbelievable what is happening here
Looks like a bit of a price collapse. More investors heading for the exit. Grim, needless to say. Will be lucky to avoid being stopped out from my latest add. - GLA.
Hi BhoyGeorge, not sure, but I'm braced for far lower. At this rate, it could even see closer to 400 later as there's no end in sight to the sell-offs. - Esp if we get more grim data from China. Losing 500+ levels here is poor. Sector is getting hammered frequently. Cu prices falling back again. ANTO at over 6 year lows. As we know, lower lows & lower highs as we're seeing always bodes ill in short-term. Today so far, 489.20 low. We're seeing an orderly sell-off on a frequent basis, which indicates many long-term investors have had enough of this mess & are exiting at huge loss. They only do that if they expect worse to come. Bigger concern: neither the Fed nor Beijing have a clue how to stem the reversals. Foolishly I added again this morning, long at 499.80, but with another 20 pts stop. That looks like another poor call. If I exit this trade, I wont re-enter again. - All the best!
Jack, how low can this go do you think. I don't much about Anto at all. Took at position at the new lows of 506 on Friday and set a stop. Looking for a bounce obviously.
Earlier this long stopped out at 513.99 for a 21+ pt hit. All posted live on iii, but only had time to update here now. Had a stop at 514 due to other longs & growing dangers of being over-leveraged in view of the merciless falls. Main concern: both the Fed & Beijing seem totally clueless about how to stem recent reversals or calm markets. Things could get worse before they get better. Take care all!
Agencies are full of ****e anto always deliver a good return well run no more to be said gla
Looks grim. 529+ day low already. Volume looks set for above average, but this did bounce to 620+ days after seeing 519+ intraday low just before interim on 23/08. Grounds for keeping some faith. - GLA.
Still hold a few longs from much higher up, all well down in paper loss. Reasons for latest add, that 533 gap business looks about completed. Will review this on any decent bounce. - GLA.
Disappointing reverse for all miners past few days. ANTO 539 as I write. But at least that gap below at 533 from 24th August that I noted in my penultimate previous post may be filled. Nasty things unfilled gaps, but once that unfinished business done, hopefully we'll see another decent bounce. - GLA.
This not helping us today, though greater damage seems to have been avoided. Still, one of those variables impossible to predict. - GLA. "Antofagasta closes mines following Chile earthquake. Copper mines escaped damage as workers were evacuated following the 8.3-magnitude earthquake: http://www.telegraph.co.uk/finance/newsbysector/industry/mining/11870834/Antofagasta-closes-mines-following-Chile-earthquake.html
PS: may re-enter if some of those gaps below, including at 533, get filled. We'll see. But taking good profits in quicktime can never be regretted in this climate, even if this spikes up some more later - as it almost certainly will at some point, only timing in doubt. GLA.
Bought at 562.87 on 3rd August. Profit taking here premeditated past few days. Settled for near 10%. Reasons: even with proper shares, never a bad thing booking decent gains in highly volatile climate that shows no signs of abating. ANTO up over 50p from Friday's close. My increased concern re miners: recent sell-offs & macro charts suggest possible bear market territory that may last longer than we first thought, dragging most sectors down another notch. Of course I could be WRONG. Maybe ANTO back to re-test lower levels? I'm not sure, but a few gaps left below. Too much uncertainty for me, hence booked decent gains. - Near 10%+ gain on this buy in a month is lower than my target, but also not bad. - GLA. PS: 2 longs only left here.
Maybe of interest, a decent & balanced updated overview of ANTO's fundamentals: http://seekingalpha.com/article/3477206-antofagasta-was-profitable-but-free-cash-flow-negative JD trading some of his longs & after today, now taken 60 pts overall past few days. All trades posted live on iii. - GLA!
Disappointing setback to sub-590 already from 622 day high. Best take nothing for granted with this game. - GLA.
Sold one spread-bet long at 619.88 this morning & one yesterday at 605.40 for just under 50 pts profit cumulatively. No regret booking leveraged profits as next batch of Chinese data can soon change things for the worse again. Still hold proper shares here at 562.87 for L/T higher targets & 2 spread-bet longs, both latter still in paper loss.- GLA.