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It has been a pretty crazy leap and I'm wondering when it's going to end. Both gold and silver seem to be flying up today (silver barged through the $20 mark, currently $20.59). Given Fres's exposure to both metals I expect today may be a another busy day!
You're not wrong on that front - decidedly normal day for AAL. In fact -2.35% at the moment on the FTSE100 is a "normal" bad day by measure of the past six months. Thanks to my holding of Fres my portfolio is in the black today - I appreciate that this may not remain the case, much volatility yet to be had!
Alsx, I too have been in Fres since early 2013 - the first tranche I bought was at about £15.55! I have managed to average down over the years and am know sitting at about £9.40. I hear what you're saying about stop losses but I recently got burned with RRS - set the stop loss a whisker too tight (£58.50 a few months back), it got touched and then the share price romped on to a high nearly £10.00 more than that!
FRES is up quite a bit on the February low of 640. What next? Is the whole demand/decreasing supply argument holding up? Are we going to carry on shooting up? Is the dollar going to strengthen and pull things down again? Is now a good time to take profits or just let it ride?
There was a piece in a Moneyweek/Moneymorning email recently suggesting that it would be worth sticking with miners for the next couple of years. The gist of the article was that Chinese banking is apparently quite sensitive to commodity prices and reflating those will help them out. Similarly central banks would be also happy to see inflation rise through the rising costs of raw materials. I guess time will tell! Furthermore, there don't seem to be a huge amount of short positions on Anglo according to the tracking webpage. Corlis, as always interested to hear your views.