Member Info for Retour_du_Renard

Wiggy - This is the first time this stock has 'plateaued' in about 18 months. We were due one. Personally I think it's consolidating but a push upward. We've been in the 300s too long.

Seems to be walking though syrup this morning. An RNS would help but I would have though we'd have been in the late 360s at least with the vital signs being so strong. Copper going positive should help.

We need an RNS, pure and simple.

https://www.bloomberg.com/news/articles/2018-05-08/congo-court-suspends-state-miner-s-bid-to-dissolve-glencore-unit

JMO - He currently has places in the Carmen Islands and Switzerland so I'm not sure he's overly concerned. Trends are all fine until there is news. As mentioned big companies are hard to predict as the news can come from any number of sources and trends can be reversed. FTSE 250 / 350 are a little easier to read

JMO - Trading at that level now is done by algos for the most part, trading floors have been somewhat ravaged with VARs barely in the 100ks these days. It was a fair bet at 357.5, it was at that point it could have gone either way. So fair play to you.

An old trading friend of mine at GS said that technicals are great but it's kind of like trying to understand the culture of a country by looking at it's weather reports. I think they are great for short term indicators but I found that big companies often spam out news so regularly that it makes prediction very difficult. Also, driving commodity influence also needs to be factored into the reading, again highly complex.

Fair does. But I think it has had more than enough excuses to fall considerably further than it has today. It's pretty obvious Oil and Copper is being played hard before this Trump / Iran announcement. Does it help to know that Ivan Glasenberg is an Aquarius and was born in the year of the Rooster?

My observation would be that it has held it's price whilst copper has been dropped hard today. Copper has now stabilised low and will likely rise this afternoon as the expectation around oil increase during US trading hours (all the commodities has been cynically dropped this morning). There when copper starts to come back GLEN could easily move in into the mid-late 360s if said commodity recover takes place after lunch.

JR - The Rosnet deal cancels out the 3.7bn debt that GLEN needed to borrow to instigate the collaboration. Therefore they come of of it neutral but with the oil deal in tact. So very good news to them and I'm surprised the market hasn't caught up with it yet. Seems they are all a little bit focused on the DRC issues which should hopefully be resolved or at least progressed in the next few days.

JMO - Been plenty of times since the last court hearing for 'money to become aligned'. The fact that London courts seem to be siding with Glen (they can hardly side with someone on the US bad-boy list) indicates to be that this thing is likely to get background political. Lots of strings attached to things over there, so my feeling is that GLEN will likely come out ontop. The president is using the Gertler action as leverage in the tax negotiations.

JMO - Could be worth pointing out that there is another hearing in the DRC / Kinshasa today (in fact probably happening now). If there is some good news on that front this thing could fly today. Just watch yourself with the shorts chap.

The collapse in the copper price (and oil) this morning hasn't helped, this has been created by the Trump / Iran 2pm (EST) deadline. It's all being played. Also, I think the fortcoming DRC case outcome is weighing heavily but the reality is I think we have reasonable support now around the 358-360 point. Lot of money went in again on Friday night, so confidence is there.

Anyone wanting to get to grips with 'Um Bongo-gate' wouldn't go far reading this article. https://www.reuters.com/article/us-congo-glencore-mining-explainer/glencores-congo-mining-conundrum-idUSKBN1I41VB

I'd suggest you hold at least an apricot, a guava and a mango.

JMO - Don't want to nit pick chap but aren't RRS in the same boat as GLEN when it comes to the DRC?

No - The PFC board needs to put it's head out of the windows once in a while.

spike - TBH I think the report was fine. Last thing anyone wants is fireworks just at the moment especially with so many moving parts in play.

Copper going great guns but the FTSE is dragging the SP.

Billy - Interesting article that kind of hints at your point about UK court influence on foreign cases. https://www.lexology.com/library/detail.aspx?g=e7614f91-c3b8-4d7b-9b5e-82634f47fcac I'm not sure even the DRC will want to fall foul of certain covenants that could see certain UN aid and EU support routes suspended should they not honour agreements. Also, Gertler could land up in even more hot water.