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Downtrend line from 20/11/23, broken, upwards, which is bullish with a sp target of 280. However there is significant overhead supply from previous trading, above 270, price level, which may slow progress to the target of 280. Importantly, the sector insurance chart has no resistance to prevent upward movement, effectively the sector chart is bullish.
It's always good to see a rise on the back of a market down day. This is really a nice recovery. Long may it continue. Would love to see it going back up to the 280's before Santa is here. Good luck everyone and have a nice day.
Good to see the SP recovers a little bit, but I am still under water though. The next ex-dividend date will be next April (final). Expect a little rise before that date. So, it's a long wait from here. Hope that the current level can hold or even will go higher approaching Xmas. Would be nice to have a Santa rally this year. Good evening and good luck to all faithful LTH'S.
LOTM. Exactly that. Director buy last week. I added this morning. This is a long term class act with a great divi.
Wow what's going on today ?
Lots of early morning trades & broken below £2.50 all of a sudden.
I guess it might be caught up in the general market turmoil.
LOTM
This is a good day for CSN. Someone just paid 279.5. Won't be long before we are back to over 280's again. Good luck to all.
This is actually the best I could have expected. The SP is a tad higher than pre results days. On top of that, we have also got the dividend. Let's see what tomorrow will bring. Hope that it will climb its way back to the 280's. 😂😂😂
Good luck to all holders and have a very nice evening.
Yes mate, things are not always going the way as we like. Well, I sold my MNG at 200.2. Need to buy it back at 192 to break even to cover the dividend, spread and cost. Hahaha
Maybe not today, but perhaps the coming days, weeks and months??? 😂😂
You too have a great day, my friend.
And I forgot to say you can buy back MNG for £1.93 already ! so that alone would be worth more than the 6.5p dividend.
Its a pity MNG didn't do this at the last dividend payout when I had loads of them for it :(
I probably should have considered just taking the initial loss on PHNX knowing it was going to be a down day with a view to buying back later, but at £4.75 low so far, it wouldn't be a great return :(
LOTM
Hi seen_it_done_it
It didn't work out for me either with PHNX I could have got out with a tiny profit if I'd set the level at £4.87 but I wanted to make a couple of hundred £ at least so had it at £4.93 so I'll probably be holding it a little while to or will just have to take a loss this time round.
Sadly I didn't buy MNG this time round it would have worked a treat buy around £2.038 say £2.045 including costs etc & out this morning at £2.008 with a 6.5p dividend.
You have a good day to
LOTM
Good morning LOTM-13, I did that but it didn't work out. Now, I have no choice, but have to hold on to my shares.😁😁
Have a nice day and good luck with your buy and sell, my friend.
Seen_it_done_it
If you'd be happy to take £2.76 then put in a limit order at that price prior to the open, if it fills 1st thing then your happy :) if it fails then at least you gave it a go.
In the past I've been shocked at some of the prices you can get on open! Sometimes I think the MM has forgotten its gone XD
Good luck
LOTM
Hi LOTM-13, my friend, thank you so much for your suggestion. I do not think it will be possible to sell at 276 tomorrow after it goes ex-dividend, since the dividend is 8.36p. The reduction will take the SP down to 270 or somewhere about. Could have sold at over 281 a day ago but hesitated and missed the chance. Now I may well have to hold on to them until the next opportunity arises.
Anyway, fingers and toes crossed, let's hope that the drop won't be too bad tomorrow. Have a good evening and good luck with your PHNX buy, mate.
Seen_it_done_it
I never got back into CSN the spread has been far too big & the price not where I wanted it, so I bought PHNX since its yielding 5% with the XD tomorrow.
I'll probably be trying to sell it around £4.87 on a limit order 1st thing in the morning to bank a couple of hundred £'s in profit, if it opens higher than that.
If I had CSN & your buy position, I'd be trying to sell it 1st thing on open with a limit order in place around £2.76 to bank that profit once the divi is paid (sometimes you get out at an even better price than you think possible if your 1st in the queue) then I'd be waiting on the sidelines with a limit order in place for the next few weeks around the £2.70 mark.
But that's just me & yes it might not be possible to trade out at the price I'd want. Will watch the opening prices with interest.
Good Luck
LOTM
Thanks LOTM-13, true that I should have bought all of mine back when it was under 273, but that's hindsight now. Anyway, I am already lucky didn't have to buy back at a higher price. Hahaha. Good luck my friend and have a nice evening.
Seen_it_done_it
Your mistake was only buying back 1/3 at under £2.73 you should have bought it all back at that price, you'd have locked in a profit of around £450 & still be entitled to the dividend.
I sold my 2 parcels 1 at £2.78 & the other at £2.798 for a net profit of just over £540
I tried to buy buy one of the parcels on Friday, was looking at something else when the price dropped & you got your 3K, sadly my limit order never got filled :(
If the price drops before Thursday then I will probably buy some again & hold for the dividend.
In the meantime those free funds have made me a tidy profit elsewhere that I've just banked :)
Patients is the key don't go chasing the price let it come back to you (even when a dividend is due)
Good luck
LOTM
That's it, got my other one third @278.88 during a sudden drop. Now my break even has gone up to 278.84. All these hard work for only less than 1p better off, what a joke!😂😂
But I didn't make a loss. 'Every little helps', however small. Now I'll sit back and enjoy the dividend.
However, I will still sell if it goes up to £3 then buy it back again when it falls back, and that's my original plan. Hahaha
Think that I have done something not so clever. Bought back two third with an average of 278, only 1.5p less than last time but my holding is one third less, lol😂😂😂
Sold my shares yesterday @278.669. Just bought back one third @272.46. That was the first trade of the day for CSN. Will buy the other two third back in due course.😁😁
Yes tichtich, indeed each to their own, we all have different strategies for investing. The reason I sold mine was because I saw the SP of CSN has been range bound for all these years. It's ideal to buy when it is at its lowest and sell when it is touching or near to the high. I felt that the price I sold was the highest for quite a while. It may drop back to the 260's once again if I missed the chance. Of course it can go higher after a good result, and that is the risk I have to take. Investing in shares is risky anyway, lol
Tomorrow will see if I have done the right thing. Anyway, I don't mind if the SP continues to climb. I can wait for it fall back and buy them back(one day) again.😂😂
Each to his own, but in general I'm not going to sell shares in a company I like in the hope of buying them back cheaper later. Been there, done that, and more often than not the price has gone up and I've "lost" the opportunity to hold a good share because I'm not willing to buy it back at a loss. Of course, I could just buy something else instead, but I only find a few shares that I'm really happy buying. As a matter of fact, CSN is one case where I did succeed in making a small profit by selling and rebuying. But I'm not doing that any more. Not worth the hassle and risk. I've decided I'd rather just buy good safe dividend payers, leave them alone, and sleep well at night. 😴
Currently I'm about 5% down on my average price, but that's nothing when you're holding for the long term. It would be nice to time my purchases perfectly and get the exact bottom. But 5% is near enough for jazz. Of course this might not be the final bottom, but as long as the dividends keep coming and I'm not selling, why worry? In fact, if you haven't reached the maximum you're willing to buy, a fall in price is good (as long as it's not a sign of something gone wrong) as it means you can buy some more at even better value! I'm considering doing just that, but might wait and see if we get back into the 260s.
Anyway, I hope it works out well for you.
I have finally gotten out with only £40 capital loss, but pocketed 31.65p per share of dividend. Will get back in at a lower price. See you all later. Good luck and God bless.🤞🤞👋👋💪💪
Yes LOTM-13, I know, but I was a bit too slow to react, when the SP was over £3. Should have sold and buy back. Let's see if it will get back up there again. This time I'll definitely sell and wait for it to fall back then buy back, lol😂😂😂
Seen_it_done_it
CSN looks to be a share you can trade & do well with, sell at just over £3 & buy at under £2.75 & collect dividends along the way.
Only 1 week to hold to qualify for the dividend now (roughly 3% yield)
I get the distinct impression from the results announcement that another acquisition is just around the corner & is a bit bigger in size than the previous ones.
LOTM