One has to laugh otherwise you'd cry. Gold +1% and silver nearly 2% today yet FRES is sat like me after devouring a 2kg T-bone i.e. not going anywhere. Cable is strengthening but only +0.2% today, nothing to wet your panties over.
FRES down 6.5%, nearly back to where it was before silver stampede whilst POLY and CEY have lost just <1% today. FRES is an absolute busted flush yet people still keep cheering it on like seals. Completely clueless.
FRES down 6.5%, nearly back to where it was before silver stampede whilst POLY and CEY have lost just <1% today. FRES is an absolute busted flush yet people still keep cheering it on like seals. Completely clueless.
Simply 'oversold'? You're suggesting that people may have made a 'mistake' yesterday, misread the RNS and are now seeing the error of their ways?
Today is either the MM spivs hoovering up cheap shares after tearing FRES apart yesterday like a pack of demented hyenas and or the Reddit silver squeeze going viral...
I'm not sure whether it's the MM spivs hoovering up cheap shares today after pummeling it down yesterday and or the Reddit silver squeeze going viral...
It's either the MM spivs hoovering up cheap shares today after pummeling it down yesterday and or the Reddit silver squeeze going viral.
If yesterday was simply MM and algos playing around after RNS then we would have seen a partial recovery at open.
Not sure how you could interpret my post as crowing, I was a very frustrated long for a while actually. I'd still like to see FRES bounce back although successive RNS continue to disappoint and PM prices have yet to respond proportionately to QE and debt monetisation. They should be rocketing to the moon with GameStop but we know that TPTB won't allow it. GLA.
Wow - just look at the MM hyenas taking FRES apart...13% down now just off the back of an RNS report. You really want to keep a stock like this as a hold in your retirement portfolio?
Or the market has picked up on something that you haven't...An 11% intraday plunge from a supposedly 'neutral RNS' isn't just MM and spivs toying FRES around. I suspect there are some more nasty surprises to come.
Probably institutionals unloading FRES to free up cash to go all in on GameStop.
I used most of the proceeds from FRES sale to load up on First Majestic a few weeks ago.
My entry prices were principally sub-750 and I completely exited 1220-1240 earlier this month.
There are some very worrying levels of delusion on this thread...This seemingly instinctive urge to buy every dip and double down weekly by FRES bulls as the knife falls further is bizarre to witness. Don't kid yourself that everything we thought we knew about monetary policy and financial markets holds true today.
Unprecedented new money creation and debt monetisation coupled with fiscal stimulus has been unleashed globally at levels we previously NEVER could have imagined possible. Yet nearly 12 months after that began, gold is now below 2011's high and silver is just 50% of 2011's high. Interesting chart on Kitco showing gold price pattern in 2020 pretty much mirrored 2011, we all know what happened after that...
PM miners in general over the last year (and particularly in the last 6 months except First Majestic) have been bitterly disappointing considering the context whilst global equities (particularly tech) and crypto continue to grind upwards whilst you're left languishing.
The problem with the PM cult is they have a perennial belief that 'the big one' is always just around the corner and 'this time it's different'. Peter Schiff is the most egregious example of this although on a personal level I do quite like him.
I genuinely have no personal axe to grind with FRES, my entry prices were principally sub-750 and exits around 1240 but some people on this thread need a real wake-up call. If you truly are committed to the belief of silver going parabolic in the future then you'd be far better off with First Majestic and physical.
This is a genuine question of whether you want to lose your money or not...EZJ doesn't have much firepower left after the frantic sale & leasebacks and then gouging themselves on more taxpayer-backed money. It should have been been left to go to the wall and the current share price range is insanity. GLA.
Erm...PM prices were higher at the last RNS update but due to yet another disappointing ore purity report, FRES dived 5% that day. It's sadly become a lame duck which consistently lags the other PM miners, even the UK-listed ones so we can't attribute this to a stronger Pound. SP has now effectively gone nowhere since July 2020. I wonder if others have already got wind of results which would explain recent FRES performance. Oh the good old days of 1380 seem like only yesterday...*sigh*
You mean apart from the PM dip and Pound surging? FRES is a busted flush. Despite the aforementioned, FRES SP capitulation yesterday was completely disproportionate. However, that's the new FRES we've come to know recently and from a SP perspective, we're back to where we were in July 2020.
On strong PM days it bumbles along +2% at best and I've even witnessed it struggling during sessions the SP ought to be flying. I got out on Jan 7th at around 1260 (my entry prices ranged from circa 600-950), still a tidy profit but I'm very disappointed with FRES overall. Even if does go on to rally a bit later this year, so what? It's been an extremely poor use of capital for 6 months now and there are so many better places to deploy cash at the moment. Adios amigo.
If we knew when and why PM prices tank and rocket then we'd be firing midgets out of cannons and p*****g Dom Perignon 1956 instead of on these boards.
Well that's very optimistic of you. Yesterday we had 'the big one' we'd all been waiting for, a Dem victory in Georgia handing them control of Congress; this SHOULD have been THE huge tailwind for gold. Instead, it touched 1,960 and then was forced back down to just above 1,900. FRES bizarrely held its SP yesterday (along with POLY and CEY) and didn't tank along with PMs, presumably due to Cable falling circa 0.5% during the trading session. Yesterday was a strange day indeed.
That does not explain POLY and CEY outperforming FRES. We're only 8% below gold's 2020 high and 9% off silver's yet FRES is still 18% below YTD high. Fact is, FRES now consistently reports churning out lower grade ore each quarter thus some investors have lost patience and I expect this trend to continue.