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If we see 440p I'll be buying more. Not that I'm dumb, I just have a 10 year horizon ... Cheers and GL
Current discount out of average range, see Bloomberg brwm:ln, also Copper down big time, and could go further. RIO & BLT have plenty to give back? Glad I exited at 519.2p.
Two steps forward, three steps back. Gotta hold over 500p at some point. I just keep buying a 1,000 stg every month, month in, month out. Being doing it for 5 years now.
Ftse 350 banks index has now broken out of the descending resistance from 2011 and has officially gone from being a short term relief rally to a longer term one IMO. The index is up 9% from the start of this year (YTD) The ftse 100 is up 1.3% mainly pulled up by the miners. Mr Bluesky
The FTSE 100 is set open higher, maintaining the upward momentum of Monday and the tail end of last week. In Asia most markets were buoyed by the Bank of Japan’s decision to maintain its asset purchase scheme while boosting lending. In China in contrast was tightened fiscal policy by draining liquidity from the system. This had a knock-on impact on the Shanghai Composite, which fell 0.5% to 2,125.12, while Hong Kong’s Hang Seng was flat at 22,523.65. However most of the Asia region took its cue from the Nikkei, which rose 3% to 14,843.24. With Wall Street closed for President’s Day, so the pick of the corporate results came from Anglo-Aussie mining giant BHP Billiton. Its earnings were better than expected, particularly from iron ore business. BHP will undoubtedly be a talking point when London opens for business.
www.investegate.co.uk/bhp-billiton-plc--blt-/rns/bhp-billiton-reports-strong-financial-results/201402180700092855A/
Could well take BRWM higher........... UBS has BHP Billiton as one of its two most preferred stocks in the mining sector (the other is Fresnillo) and expects the Anglo-Aussie titan to report robust financials covering the first half of its fiscal year on Tuesday.
Has closed nearly 200 points over the 17,500 major resistance point today. It has now broken out of the 3 year descending resistance and if it stays that way to close the week it bodes extremely well for more gains. Mr Bluesky
BRWM will get a wee pull back at some point but not enough to consider selling for IMO. With RIO,BLT and GLEN all looking longer term bullish now this should stay strong as it accounts for 37% of BRWM's portfolio. The mining sector could well take the ftse 100 to an all time high over the next few weeks. Very exciting times. Mr Bluesky
Deciding when to sell is difficult, but for better or worse, I decided to take the money, At one point I was down 1k on my 15k holding, today I was up 1k so decided to take profits, I noticed when holding this stock over a couple of months, sometimes it was trading at an 8% discount and sometimes at a small premium? I may have missed an opportunity by not holding, but I intend to get back in certainly if below 460 is ever seen again and when I buy, I will look very carefully at any premium. Every time I hold a stock, I learn a little more about how it trades, and I find that useful to know for next time..
Thanks for your efforts, I'm sure all the readers here appreciate it. I have a significant lump sum invested here from about 6 years ago, and have been topping up monthly since then. Overall, I'm down about 8% which is not great but I have assuaged my disappointment with the knowledge that I've been investing relatively cheaply, and when a significant rise comes I'll be in a great position. My strong tendency is to "pound cost average" across a range of Investment Trusts and some Mutual Funds, and this has stood me in very good stead over the last 20 years Dabbling in some minor AIM miners is a "hobby" with money I can afford to lose ... I'm in BAO, NRRP, ECR, PDL. Looking at PFP as a punt. Cheers, JP
http://imageshack.com/i/f7qcfoj 29/12/13 The above chart is the FTSE 350 mining index weekly chart. It shows that the index has been in a decline since early 2011. The green line is the descending resistance and I believe that a break over this line will represent the end o the 3 years of pain for the index and the start of the turn around. the vertical yellow lines show that each time the MACD has crossed over it has lead to a good advance. Putting my neck on the line the next time the MACD crosses over I think it will break out over the descending resistance and signal the start of the mining rally. RSI is trending up at 48 which is a good sign,along with other indicators,that a break out will happen IMO and could well happen as soon as 4 to 6 weeks from now. Mr Bluesky ............................................................................................................................. http://imageshack.com/i/3oght4j FTSE 350 mining index Weekly chart 14/02/14 Above is the up dated chart showing that the MACD crossed over on the weekly chart and the index is now just under the long term descending resistance dating back from 2011. One more up week for the index and the mile stone of breaking out over the resistance will happen turning it from short term bullish to long term and propelling the mining sector back into an investable one after 3 years of demise. 2014 truly does look like the year the miners dig themselves out for the recovery.
BRWM is also looking ripe to invest in so will do a chart on them also. Mr Bluesky
I am going to start posting my thoughts on the FTSE 350 mining index on this BB as it is not very well used and would also be apt. I stated on another site (ADVFN)where I started a thread that 2014 would be the turn around year for the mining sector and after these few weeks there are very positive signs already that this will be the case. I will post some charts and comments over the weekend and I will be mainly looking at the miners in the ftse 350. Mr Bluesky
Here we go! :-)
BUY! Miners are back in favour lololo, here we go!
Ten Largest Investments % Total Company Rio Tinto 11.8 BHP Billiton 10.6 Glencore Xstrata 9.9 First Quantum Minerals 7.8 London Mining Marampa Contract 6.7 Freeport McMoRan 6.5 Vale 4.1 Cerro Verde 2.5 Banro 2.5 London Mining Jersey 8% 15/02/16 2.3
Thanks, I'll take a look when I get home tonight. JP
Switch to Fidelity Special values,check out when Alex Wright took over and how well it's doing since,go's ex div on 13th about 17p I believe,a much better place to be in imo.
problem is it's always weak! Take a look att he 5 year chart, not pretty. I buy in fixed sums twice a month, fully automated, have done since 2010 and now own a fair chunk. "Cost averaging not working for me so far, down 22% on something like 80 buying trades. I think if it goes to 420p or so I will go in with a big one-off buy. Divi'sOK though, but my captial is, errmm, wasting away, so far.
Nice divi received today £7 per 100 shares .Add on weakness
Ten Largest Investments % Total Assets Portfolio update; Company Rio Tinto 11.3 BHP Billiton 11.0 Glencore Xstrata 10.3 First Quantum Minerals 8.0 London Mining Marampa Contract 6.9 Freeport McMoRan 5.7 Fresnillo 3.7 Cerro Verde 2.7 Banro 2.7 Iluka Resources 2.6
500p paid! Finally turning around? Fundamentals for precious and fancy stones looking very favourable, Europe coming out of recession and China managing growth more sustainably. The big players looking healthier than for a long time.
Come on BRWM you old dog, get over a fiver.