Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi Guys,
Rightly or wrongly I bought some Glen & RDSB this morning. Shell in particularly looks ridiculous at 1245p. Yield is crazy. Now whether we are anywhere near the bottom is anyone's guess. Catching a falling knife normally ends up with deep and painful cuts for me! Still cant decide where Glen is heading but no stamp duty makes it easier to trade. GLA
Ken, thanks for your message.
Stupidly I closed out my large position on Friday that I had bought last Wednesday. Made a lovely turn so decided not to be exposed over the weekend. HUGE mistake. I would have made a killing today. Ah well, win some, lose some.
Is Glen a buy at these levels or is everything going to get worse before it gets better?
Guys,
I realise that this is off topic but have any of you 'invested' in Suk2 (this is the ticker) ETF? Given the negativity around at the moment I have found this a great trading item. No stamp and tight spread. Gives twice the FTSE movement so you gain twice the fall (and vv). I really like it and no volume issues at all. Just a though if any one looking for a hedging tool or for pure speculative trading. I don't hold Glen at the moment but watching with interest from the sidelines. Glen is by far my biggest trader over last couple of years. But SUK2 is catching up a little bit. Not for the feint hearted. Good luck all. Tom
Bob, I have been watching Tui closely but not committed as yet. Think it could get worse before it gets better.
Billy, agreed, once the Chinese economy functions normally, copper & cobalt demand will increase as will the SP of Glenda. But not sure amount immediate short term. Think we could have a few drops before bottom reached. Good luck all.
Back out again. Having read those links I think the expected rise in demand for copper and cobalt is down the line. The fact that Chinese commodity dealers are reneging on existing deals makes me nervous. Also who know what could come out over the weekend.
A profit is a profit. Good luck all.
There's a lot of volatility with Glenda at the moment. I'm back in again today after the fall this morning. No idea where it is heading in short term but the near future demand for Copper & Cobalt surely must propel this upwards soon? Again, time will tell. Good luck all.
Hi All,
It makes a change from most trades over the last 12 months but it seems I got lucky with my timing. I put my house on Glen last week and was feeling quite depressed to find myself nearly £20k down after two days but the last two days have been magnificent for Glen holders. I could resist so I sold the lot today around 237.5 - 238 for a great profit. I'm enjoying trading this again after taking a bit hit from those I bought last May and got stuck with. It does appear to be a good trading stock down at these levels. Good luck all, Tom
After the quick in and out a few days ago I decided to rinse and repeat. Big stake bought today in 224-225.5 range. Hoping for quick rise over next few days or week. This is a great trading stock if you can catch it right. Whether I have, time will tell. Good luck all.
Hi Guys,
I've not held Glen for a few months but I did buy a huge slug yesterday at between 220 and 221. But I too was worried about it falling further so I sold it all today in the 227 to 228 range. A stressful 2 days as you can never tell with Glenda but a profit is a profit.
Anyone else heard the rumour that Rio Tinto are 'looking' at Glen? Its probably BS but I did read a snippet about the possibility.
Interestingly for those that previously invested in Shire, there was a rumour (from a discussion) about a takeover by a Japanese company. This was posted a month before the Takeda takeover was officially announced. I'm not saying that the Rio rumour has any creditability (as I don't know) but it would be nice. A price of 325p was also mentioned. If only!
Hi Ken & others,
Good to see you guys all still here and keeping up the great banter.
I decided to give myself the summer off from constantly checking and posting but I will be back soon.
I still have a very big holding in GLEN but not a lot else. I sold my oilers and Petrofac this morning and I sold GVC about a week ago (but still too early as went up another 50p grrrrr).
I've been averaging down on Glen as I could not resist when in the 220s and 230s but my average is still too high (281p). I think this will recover further when Trump & China finally agree a deal. I think this will be next year to coincide with Trumps election campaign. 300p+ is not unrealistic and I'm looking for 325ish.
Ken, well remembered re Rugby world cup and thanks for your kind words. I fly out on Wednesday for nearly 4 weeks and we're going to 10 matches (incl 2 ENG, 3 IRE, 3 SCO, 2 JAP, 2 NZ) which will be a blast.
Good luck to everyone on here over the next month and see you in mid Oct. I predict that Glen will be 256p on 15th Oct.
The macro is trumping the micro in commodity markets. Since US President Donald Trump’s May 6 tweet threatening higher tariffs on hundreds of billions of Chinese goods, major raw materials have been in the doldrums with only gold, iron ore and a few weather-hit crops managing to buck the trend. Everything else has been under pressure. Take copper, which is often viewed as a bellwether for the global economy because of its wide range of uses in construction and industry. It has dropped 9 per cent since the start of May and is sitting at $5,855 a tonne. It has been weighed down by the US-China trade uncertainties and concern about slowing global growth. There has also been a big increase in bets against copper in the futures market. From a net long position of 23,000 contracts in March, hedge funds and speculators have turned bearish. As of last week they were net short copper to the tune of 46,000 contracts (a net short position means that there are more bets on prices falling, than rising).The pessimism is understandable in light of the trade spat and the growing sense that Mr Trump is determined to undermine the Chinese economy. However, the underlying fundamentals in the physical copper market do not look that bad. In China, which consumes half of the world’s copper, domestic premiums — the extra amount buyers are willing to pay to get metal immediately — have more than doubled in the past couple of weeks to Rmb150 ($22) a tonne, according to BMO Capital Markets. Meanwhile, copper stocks in bonded, or customs-controlled warehouses, have fallen by 85,000 tonnes over the past month. With the next round of Beijing’s scrap-metal import restrictions about to kick in, a further stock drawdown is expected. “While macro positioning in copper is very much negative as expectations of a prolonged trade stalemate rise, underlying fundamentals still look relatively robust,” said Colin Hamilton, head of commodities research at BMO.This is also true of the supply side, where there has been a string of disruptions this year. In Chile, a strike at Codelco’s giant Chuquicamata mine looks likely while a fierce legal battle between the Zambian government and India’s Vedanta Resources has crippled operations at its local unit. For the moment, then, fundamentals count for little, held hostage by jitters over trade. As such, the G20 meeting in Osaka at the end of the month is a critical event for commodity markets. If — and it is a big if — there is a tariff truce the price of copper could snap back above $6,000 a tonne as short sellers rush to cover positions. But to sustain a rally further stimulus in China would be needed, according to analysts at Citi. And that is unlikely to emerge until the Communist party’s politburo meeting in late July.