Petro Matad CEO Mike Buck confirmed that he believes the Exploitation Licence for Block XX in Eastern Mongolia is likely to be awarded in Q2. Watch the full video here.
Welcome to this new thread mostly a blog about aspects of day trading.
Good morning - at least we now don't have to worry about what's being said which is a nice feeling to have.
How have you been getting on over the last few days? I must admit, I was a bit lucky on Thursday/Friday - I sold what I had in Ocado and didn't buy back my MCRO shares - I just watched everything yesterday and whilst Ocado only fell marginally in comparison to some, I was doing a calculation for my friend yesterday when I was saying how much Easyjet had fallen in one day, and said it has taken since 15/1 for Ocado to lose 25%.
Ordinarily I would have said we are getting close to that magic £10.75 figure, but with the virus spreading to Italy, I'm not sure what impact that will have in the market over the next few weeks especially if it isn't contained - maybe a good time to buy gold/silver miners instead!
I am still in OCDO (am I the only one?) having perhaps ignored the writing on the wall. It seems at last the market is starting to take the Coronavirus seriously and so it should.
I have been flirting quite profitably with NMC but am running scared all the time. Doubled my investment in it on Friday, success made me more confident (or reckless) so added more yesterday. I am day trading it on the spikes and shakes in three tranches, having sucess so far.
On the subject of IG trading platform, I believe they have a BUY limit (inside ISA accounts) of £25,000 per trade. This has caught me out on two of my holdings which are larger. They allow SELLs above this limit but it forced me to BUY in tranches (which actually was of benefit to me in that it averaged my price down). I have been meaning to ask IG whether they will remove this limit, in which case they would probably charge me more than the standard £3 per trade. Perhaps it is a limit based on one's trading history.
I did the opposite to you...kept OCDO and bought back into MCRO, Doh!
I did OK last week, exceeded my weekly target but that was down to trading in TCM, NMC and LLOY.
The LLOY results were initially well recieved so I sold some and bought back a lot more, later in the day. If only I had waited till yesterday I would now be in amuch better position.
I have noticed that I am too impatient to buy back into a share after selling on a spike.
Bought back into TCM yesterday, I couldn't resist. This does not fit with my policy of simplification I know.
I only sold on Thursday - may buy back in today - the range was 50p yesterday - shame it was in the wrong direction though but the tide will surely change there eventually.
I'm surprised it's taken as long as it has for the market to have a meaningful sell off with the news of the virus - just goes to show how some markets - especially China and USA - are being artificially propped up. I'm surprised there looks like there's going to be a rebound today as I thought we would be in for at least a three day sell off but at least we can be selling the spikes, buy the shakes.
Good to hear that you're doing well with NMC - have IG always had those trading limits? I must be honest I've not come across that before - always been able to trade up to my balance if I've wanted.
If you're reading this G, I hope you're doing OK - was thinking of you yesterday with your IAG shares - things were brutal yesterday for the travel sector.
Just read that an Italian doctor is being tested for the virus in Tenerife where he has been staying in a hotel with his wife and 1000 people apparently have been quarantined just in case.
Just discovered that I have to exit this page and return to get latest updates, doh.
I did a spike/shake churn on HUR last week but again, I lacked the patience to wait to buy back.
Just had an alert on NMC and sold making a small profit which means I have passed my target for this week.
There was a nice early spike on ASC this morning but I missed it.
Not sure about IG Trading Limit, as I've said before, I tend to have more, smaller shareholdings except in two cases (LLOY and FEVR)
Its only Tuesday - well done on that - you certainly have some consistency with your trading now. Will you still be trading when you go over to France or will you be busy with your chateaux?
I think the market is still feeling a bit uneasy - any more bad news on the virus and I think another sell off will be on the cards so it pays to be nimble.
Think I should have held onto one of my tranches of NMC, I think they are going above £9 soon. Got an alert set to warn me about a fall so I can buy back in.
Yes, I trade in France but a lot less. It tends to be warm during my times over there so there are many other things to do....not just building work but generally having a good time.
There's always later/tomorrow - nothing goes up or down in a straight line.
Looks like the market is starting to turn negative - Panmure Gordon Chief Economist on Bloomberg at the moment - comparing the current virus against Sars - I wasn't trading back then so wasn't really aware of impact on markets, but what he was just saying was that the effect of Sars on the markets took 13 weeks to work its way through - we are 4 weeks in so 9 weeks to go - as long as we start getting a bit more volatility like yesterday. Also saying if the virus spreads we could possibly see a global recession in the next 6 months.
Apparently Donald Trump has asked Congress for $2.5 billion dollars to help against the spread of the virus (well probably to prop up the stock market considering he's up for re-election this year!).
I don't blame you for having focus elsewhere when you're in France - after all thats what you bought the place for - to be able to enjoy.
I just realised - G has a property in Italy which he is due to go to at the end of April I think it was - hope its not in the area thats affected by the virus.
Just so that you know there is some good news around, a trading friend of mine has shares in DJAN, they went up 55% the other day (company being taken back into private hands). I don't think I have ever had such a nice rise.
Yes, good old Rule 8 will always be with us.
FTSE taken a negative turn so maybe your 3 down days expectation will be right. I think I am as guilty as many of burying my head in the sand and hoping for the best over the virus. Didn't one of our posters sell up everything the other week?
Was that G? The area around Turin in the north of Italy is suffering, industrial heartland of Italy. I think G's house will probably be further south. Let's hope.
Fear of missing out on NMC lead me to buy them at 891, Doh! It was a panic move I think.
Yes I saw that share rise - spectacular for one day so your friend must be really happy - I bought Thomas Cook years ago when they had been shorted down to about 20p and they announced that they had managed to secure funding so all the shorts had to close in a hurry and they shot up to about 90p which was my best few days of trading ever.
No - O said yesterday that they had sold up everything either Thursday or Friday on the basis that there will be plenty of "special offers" for want of a better description during the next few months - I do think the market has been peculiarly non responsive to the risks that this virus holds and I have been a bit baffled by it - yesterdays response was more akin to the reactions that I was expecting weeks ago, and I do think it may be wiser to keep some cash back each day just in case.
Now you come to say about it, I do think G's place may be somewhere in the North - he did say a few weeks ago but I can't really remember.
I may be teaching you to suck eggs, but one sector you may want to have a look at is precious metal miners - they have been battered over the last god knows how many years because of falling metal prices - mainly because of low/no inflation economies and markets being artificially propped up - if we do have a recession triggered by the virus then it may be a sector to consider - if you look at FRES back in 2016 it went from £6 odd to £20 odd in 6 months in the build up to the US general election - it has had some issues which hopefully are behind them now, but with gold hitting a 7 year high yesterday, if they repeated their performance in 2016 it could prove to be very profitable - I'll leave it to you to research.
OMG - talk about bullying - apparently that orange twit is now saying "if i don't win, you'll see a crash like you've never seen before" - more likely that a new government will expose all the fraud/manipulation thats been going on there and that will be the reason for the crash - aargh - he just makes my skin crawl.
I have held CEY Centamin quite regularly over the last couple of years. They are a no stamp duty share, probably the reason I held them. Always made a profit although nothing outstanding. They are a bit of a one-trick pony having interests basically in one gold mine in Eygpt. There always seems to be a threat of a government takeover or tighter regulation so they are especially volatile when such news emerges.
I note that CEY are down 3% today but at 148p, quite a bit higher than the 110-125 range I last traded them.
Natural resources and gold in particular are often said to be the sectors to be in in times of uncertainty.
I will give it more thought.
Morning all, was too quiet last couple of days on OCDO board ..... I enjoyed the chat and learning, and peoples experiances so happy to come over here.
Bookmarked the page in case it gets buried.
S - just press refresh on the browser to update the page.
Is it me or are the new posts at the bottom on this thread, whereas on OCDO and others onm LSE new posts are at the top!
Glad to see you here V - hope you've had a few good days trading.
It wasn't worth the aggro to keep posting on the OCDO board so at least we've found a suitable alternative - the only thing I don't like about this page is it doesn't show the most recent post unless I'm doing something wrong.
Welcome V. Have you been trading much this last week or so?
I'm still trying to operate the Treacle system and having some success wirh LLOY, HUR and SAGA, in fact, I bought back into SAGA around 9.30 this morning but only increased my holding by 0.8%. There have been other opportunities to SELL and BUY more SAGA these last few treading days but I have been distracted by having to watch NMC closely. That shouldn't be too much of a problem going forward as NMC settles down a bit, I even did 2 SELLs on NMC this morning using Limits but feel I could have done slightly better manually.
Yes, this thread is being posted "upside down" to what we are used to. I have checked that other General Chat threads are the same. Thanks for the tip to use the "reload current page" button on the browser, that has helped me.
Another of my dog shares (oh yes, I have a few) is TLW which took a massive hit the other day down to 36p, is having a slight recovery and is up 8.5% this morning, it looks like a spike, it smells like a spike so I guess it is a spike but can't bring myself to sell in case it goes up a lot further.
I wouldn't do anything with Tullow if I were you - could go on a run for a few days now as shorts may be closing - only my thoughts.