Member Info for JohnLewis79

Dither, dither, dither and Deliver, deliver, deliver fly to Scotland on separate private planes to see Her Maj. Couldn't they have done their business on Skype which would have saved a few quid and been a lot less hassle for all parties?

Downing St is packed full of the faithful to see his farewell speech (for now). He will be a tough act to follow and as long as the 'stormtroopers' give her an even break, she might last to fight the next general election.

DJ
SP
NS {Closed}
R2
WTI
10ytb

MSCI(W) -8 (2597)
Gold Bugs u/c (187)

The ftse pulled out of a 90 points fall at 9•30 and rose throughout the session closing at 7287 up 6 points supported by oil prices.

Crude bounced on news of OPEC cutting an insignificant 100,000 bopd to a days high of c.$96 before falling back. Gold is ahead $6 at $1730. The ECB will meet later this month to discuss rates in the face of spiralling energy prices and the inflation crisis.

One option being considered is for Truss to freeze prices for a 2 year period at the current £1971 for a typical family. Nevertheless there will be billions needed to be paid back in the years ahead either via taxation if the Govt picks up the tab or an increase in your energy bills.

Boris is due to make his final speech to the British people at 7•30am. He will then fly to Scotland to see the Queen and hand over the keys to No 10.

Latest:- Vix 25. Brent $95.
Gold $1730. Copper $3•465.
Palm $1135. Silver $18•190.
$1•156. €1•163.
FF -6. DF +76.
Morning all.

So, after many tedious rounds Thrusty ko's Sunny on points. A result widely predicted by the Ring Magazine and the occasional politico onlooker. The 'books' make her odds on to last for even fewer days than "Grandma Dancing Queen" May's 3 years and 11 days.

Will the Tory stormtroopers on the back benches fearing a rout at the polls ditch Thrusty in an act of self preservation and call on Boris to get them out of a big hole before the bell rings on Jan 2025? A very dangerous strategy but it could be a needs must policy to save their skins. Either way Thrusty will be toast. She will be sent sent packing to the boondocks as the 5th shortest modern reigning Prime Minister in British history.

And it will be well deserved for having booted Boris out, who let's face it was the only man who might get the Tories a futher 5 years, if those spiteful self serving idiots on the back benches had a working brain cell between them. Their duplicity will see them stuck on the dole queue for many years to come methinks.

If your a fancier of long odds wagers, how about 43-1 for Boris to become next PM? Worth a few quid if Thrusty's crazy economic plans (cut everything) estimated to cost north of £100bn in borrowings goes amiss as they surely will if rates rise, or she gets done by inflationary events. What then kiddo?

I sure don't have the answers but a cap on gas, water and electricity prices is a must as of now. The supermarkets are cutting their own throats as consumers in their millions cut back by 40%+ in the face of usorious profiteering. They have milked the country for far too long. It gives me great pleasure to walk into empty supermarkets singing a song as i go along.....Happy days are here again, hmmm maybe not!

Morning NTG, i would have preferred to hear more about the completed assay results for Bassala back in July. Identifying new drill prospects is all well and good but let's have more meat on the bone! Afraid to say another 'holding' RNS at best.

Wk 36 latest (1 month) technical overview analysis for for MSi.

Summary
(BUY)
3 sell
8 neutral
15 buy

Oscillators
(SELL)
3 sell
7 neutral
1 buy

Mov avs
(STRONG BUY)
0 Sell
1 neutral
14 buy

Asian and Pacifica mrkts are modesty lower at the start of wk 36 with HK leading the fallers down 240. Traders remain concerned about the outlook for the global economy and the energy crisis in Europe.

News that Chengdu the 6th bigest city in China is under full lockdown restrictions had little impact in Shanghai (+12). S.Korea and Taiwan are flat and the ASX is up 13 on back of gains in mining and energy. Gold treads water at $1723 with support seen at $1680.

In the US active drill rigs this year are 263 more than last (760) though oil production unexpectedly fell by 3•3m bopd last week. US crude oil inventory (418mboe) is now 6% below the 5 yr average.

Latest: Vix 25. Brent $95.
Gold $1723. Copper $3•424.
Palm $1165. Silver $17•905.
$1•146. €1•157.
FF -70. DF +76.
Morning all.

Ftse -1•5%
All -5%
250 -20%
Aim -29%

Cora -55%
Glds -30%
Hum -49%
Orr -52%
Pat -45%
Rrr •0%

Cppr -24%
Gold -6%
Oil +20%
Palm -12%
Silver -23%

£$ -15%
£€ - 3%

DJ -338 (31,318)
SP -43 (3924)
NS -176 (12,098)
R2 -8 (1162)
WTI $87
10ytb 3•199%

MSCI(W) -17 (2610)
Gold Bugs +7 (187)

Close:- Vix 25. Brent $93.
Gold $1723. Copper $3•401.
Palm $1165. Silver $17•910.
$1•151. €1•156.
Morning all.

DJ +146 (31,656)
SP +12 (3967)
NS +3 (12,275)
R2 -14 (1169)
WTI $88
10ytb 3•261%

MSCI(W) -17 (2610)
Gold Bugs -6 (181)

Latest:- Vix 26. Brent $94.
Gold $1710. Copper $3•397.
Palm $1150. Silver $17•645.
$ 1•154. €1•159.
FF +47. DF -20.
Morning all.

DJ -280 (31,150)
SP -31 (3955)
NS -71 (12,272)
R2 -12 (1184)
WTI $90
10ytb 3•198%

MSCI(W) -18 (2627)
Gold Bugs -3 (187)

The Dow has fallen c.5% extending losses of the last 4 days and slipped below its 50DMA. This August has seen the Dow post its worst monthly losses since the 14•6% of 1998. Powells keynote speech continues to drive equities and precious metals lower. Economists expect 318,000 new jobs to have been added well below the 528,000 of July. Mrkts want to see the labour mrkt cooling down making the Fed slow the pace of rate hikes.

Stocks in the Far East took fright the Nikkei down 480 at opening (Yen hits a 24 year low) followed by HK off 165 currently but Shanghai bucked the trend posting a small gain of 8 points at lunch.

Manufacturing activity was weak across the region as covid headaches, supply chain worries, cost pressures and inflation hurt demand. Pacifica mrkts were all heading South, notably Australia down 122 (c.2%) with energy and gold miners clobbered.

Latest:- Vix 26. Brent $95.
Gold $1716. Copper $3•489.
Palm $1150. Silver $17•160.
$1•159. €1•156.
FF -48. DF -151.
Morning all.

DJ -308 (31,791)
SP -44 (3986)
NS -142 (12,343)
R2 -18 (1196)
WTI $92
10ytb 3•115%

MSCI(W) -23 (2645)
Gold Bugs -5 (190)

The Dow remained in negative territory though well off days low which set the scene for opening deals in Tokyo where the 225 slipped 290 at the bell. Most sectors are headed lower despite Japan's industrial output up a seasonally adj 1% on month of July and retail sales were up 2•4% in July. At mid'day the Nikkei is off 115.

In Shanghai the SHCOMP is 38 weaker ahead of results for the non manufacturing and composite indexes. The main index has slipped 2% this week and 12% ytd. At lunch the Hang Seng is down 95 (16% ytd) where July retail sales are out today. Pacifica are mostly lower tracking moves on Wall St.

Commodities are lower due in part to a $5 drop in NYMEX crude futures. October gold futures set at $1728. China imported $108m worth of gold from Russia in July after the US, EU, UK and Japan banned gold exports following Russia's invasion of Ukraine.

Latest:- Vix 26. Brent $99.
Gold $1734. Copper $3•569.
Palm $1160. Silver $18•330.
$1•167. €1•164.
FF +21. DF +185.
Morning all.

DJ -184 (32,099)
SP -27 (4031)
NS -121 (12,484)
R2 -12 (1214)
WTI $97
10ytb 3•093%

MSCI(W) -26 (2669)
Gold Bugs -2 (195)

Latest:- Vix 26. Brent $102.
Gold $1748. Copper $3•590.
Palm $1130. Silver $18•465.
$1•169. €1•170.
FF +16. DF +60.
Morning all.

Stocks hit the skids on opening in Tokyo tumbling over 850 following the global sell off on Friday. Comments by Fed Chair Powell that the Bank would use its tools forcefully and expects to keep rates at higher levels, as a failure to restore price stability would mean far greater pain for investors.

Losses on the Nikkei 225 were across the board and at mid morning the 225 was down 790 with no major sp gainers. Stocks were heading south across other Asian and Pan Pacific bourses. Ftse and Dow futures were weak the latest DJI quote called 210 lower at NY open.

The USD hit a 5 wk high against the Yen, 10ytb's climbed across the US & Europe with double digit gains in Spain, Italy & Portugal. Futures are pricing in a 60% chance of a 75 basis hike at the next policy meet in late Sept. Gold ($1725) declined and could slip below $1700 in the short term as Bonds ticked up amid bets for more aggressive rate hikes. Brent is off $98 lows at $100.

The Fed is on a perilous path as they have never raised rates during a recession. Powells comments indicate he may not be prepared to change direction. Some mrkt observers see the Dow at 1600 the oil price to skyrocket, their will be food shortages and possibly food riots in some countries, what price inflation then? What price the Dow?

Commodities which have been battered this year might be a safe bet in Q4 and 2023. Central Banks have been buying gold this month (Qatar central bank bought 14•8 tonnes). I'm holding my gold, oil and palm stocks.

Morning all.

Truss has set out plans to boost defence spending by £20bn (c.3%). Truss said the era of complacency which has been ruthlessly exposed by Putin is over. As has been said if you want peace, prepare for war.

You may not choose to believe the West will challenge Putins aggression and get him removed from power. That looks a longshot atm.

Either way I hope MSi has been in touch with the MOD. We might be offered some decent contracts if Truss is true to her word.

Cora -54%
Glds -38%
Hum -49%
Orr -52%
PAT -45%
RRR +24%

Copper -17%
Gold -4%
Oil +27%
Silver -20%

£$ -13%
£€ -1%

DJ -1008 (32,283)
SP -142 (4058)
NS -538 (12,605)
R2 -40 (1225)
WTI $93
10ytb 3•043%

MSCI(W) -74 (2695)
Gold Bugs -10 (197)

Close:-.Vix 26. Brent $99.
Gold $1751. Copper $3•694.
Palm $1130. Silver $18•775.
$1•174. €1•178.
Morning all.

All Far Eastern and Pacifica mrkts are ahead this morning after Wall ended the session with impressive gains. The Nikkei, off days high is up 208 at lunch. Gains are mostly among autos, tech & Banks. HK & Shanghai follow the Nikkei's lead. Further south Australian mrkts have been rising all morning but weakness among Gold miners is holding the ASX200 to c.80 points gain shortly before close.

Powell is expected to confirm the Bank's hawkish stance this afternoon. He is expected to focus on the persistence of inflation which will take time to contain.
A 50 basis hike is expected at the next FOMC meet. Current US inflation is 8•52% down from 9•00% last month and 5•37% last year. The long'term average rate is 3•26%.

DJ +323 (33,292)
SP +58 (4199)
NS +226 (13,144)
R2 +24 (1266)
WTI $93
10y/tb 3•045%

MSCI(W) +32 (2768)
Gold Bugs +1 (208)

Latest:- Vix 22. Brent $99.
Gold $1767. Copper $3•712.
Palm $1125. Silver $19•145.
$1•183. €1•186.
FF+23. DF -17
Morning all.

Seems unlikely the Fed will give mrkts news of when the Fed will cease/reduce rate hikes at the Jackson Hole symposium on Friday. They are more concerned about inflation and avoidance of a recession than anything else atm. The recent contraction in the US economy (Home sales plunge to lowest level in 6 years) could indicate a more dovish approach to rate hikes.

The USD index is at 20 year highs and but for that Gold would be trading $150 higher according to Wells Fargo. They still see the gold stuff in the range $2000-$2100 by year end.

DJ +60 (32,969)
SP +12 (4141)
NS +36 (12,918)
R2 +4 (1242)
WTI $95
10ytb 3•108%

MSCI(W) +6 (2736)
Gold Bugs +3 (207)

Latest:- Vix 23. Brent $101.
Gold $1768. Copper $3•643.
Palm $1125. Silver $19•090.
$1•182. €1•183.
FF +12. DF +37.
Morning all.