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'Last week, the company released data that showed demand for diamond jewelry rose 2.4% last year, while the crucial U.S. market, where almost half of all diamonds are sold, increased 4.5%.'
Anglo American Plc, which owns De Beers, closed up 1.8% at 2,080 pence in London on Monday.
Terrible news indeed
Nice bullish candle on monthly chart is 99.9% likely , tis the season to buy diamonds
looks like last weeks sellers will now be chasing the price, very bullish IMO
Bit of a non -story this , IMO
Still top of leaderboard, lots of PI pin money getting thrown at this today, keep it up PDL
Agreed DBNO
GEMD is tanking and has been for last few days, UPDATE on that one on 4th Nov, the fact PDL is holding its own in comparison is reassuring, when GEMD hits bottom and starts rallying back up I'm sure this will fly to next level just a question of waiting it out, volume will come back , just standoff right now, would be buyers waiting for holders to lose their nerve,.
slowly slowly catch a monkey DBNO......will we see 7.8 today?
Marshall Wace have reduced their short position...
https://shorttracker.co.uk/company/BMG702781094/
look at any article about diamonds JULY-SEPT and it looks horrible, look at todays DIamond market and there reasons to be cheerful, - double bottom and reversal for starters!
http://www.idexonline.com/diamond_prices_index
Surely this is the best time to buy?
'I expect an uptick just before blue diamond sale mms just messing about it will close around 7 volume is paltry yawn time England expects tomorrow morning' ------- or could stay in 7.2/7.3 this pm......with flashcrash to 7.pm monday open ...but spread will be so large you will be paying 7.5.....
I completely called this move today, Liam will back me up on this...hahahaha
spot on DBNO, its always the same with updates , after a few days everybody forgets the update and the focus goes back to current economic trends, which are looking positive at last for diamond market
you back in again Colonel? nice synopsis
throw, yep misspelt
you are selling PDL at 7p - how many weeks/months were you sitting watching this , hoping it would go into single digits? now its in single digits you through away your shares in the hope you can buy a penny less, greed is a traders curse
worm turned
§ Total cash of approximately $123 million as at 30 September 2019 ($95 million as at 30 June 2019)[2]
§ Net debt of approximately $30 million as at 30 September 2019 ($61 million as at 30 June 2019)
§ Net Debt/LTM EBITDA of approximately 0.10x as at 30 September 2019
look at 3hr chart, big long spike at top of candle, and finished at bottom of the candle, the 3hr candle range is very big 7.2-7.9. (10% of price)..thats a lot of distance covered in 3 hours, likely to see inside bars now I would expect , technical analysis doesnt take into the reasons why this happened, you know this of course
Colonel gives very informed posts on here and has a respectable reputation, and usually neutral on price which I like, however , last post had a whiff of de-ramp about it, lets look at facts:-
1. 1 fund GSA has increased short by a whopping 0.1%, there are NOT a band of shorters joining them
2. The idea that the price will be grounded down by these yet unknown forces upto Jan update is conjecture and fearmongering
3. We have a £10-£20m diamond sale coming up in just 3 weeks, and diamond index suggests diamond prices are reversing, as the colonel was keen to tell us on many occasions upto Monday, and we got a 3hr reverse hammer candle on the board, nice setup for tomorrow.
I can only conclude like many on here Colonel sold his stash, and is out in space, now he is concerned about re-entry