Member Info for RichTheNewbie

Heh, yeah, it's a bit too much for me to keep up with these days, so don't read much here anymore, but occasionally look in to see how things are going.
Busy most of the time trying to build a FTSE portfolio and remain near enough breakeven ready for when things turn round and then just sit on them for a long time :)
(oh and trying to sell our house and buy a new one....which is "fun" at the best of times and even more so during a pandemic)

This is the weekend FTSE market on IG: https://i.postimg.cc/PJwZvn9w/FTSE.png

It's not actually dropped very much at all.

I think the battle will be between the usual rush to panic sell from some versus the probably larger pool of people who're bargain hunting on the FTSE right now.

Hard to know how it'll play out, because just like warleb, I'll be watching like a hawk for any FTSE bargains (and at the current bombed-out prices I think there's an awful lot of us ready to buy bargains and not a lot of people who'll want to be selling barring any initial drop.

You don't need to tell me the final quarter SHOULD be better.....my observations were purely about the SP trend and reaction to the Q3 news. ;)

Unfortunately it was just a perfect storm (in the wrong way), with HUM releasing unexpectedly bad AISC for the quarter, it being at the bottom of the upward trend channel when they did, and then gold heading sub 1900 compounding the issue. In a market where investors take a lot of persuading to hold anything, and hardly any persuading to head to cash, this was sadly always the most likely outcome on the news.

aprogerson - HUM broke the uptrend at the start of the week rather than at 34.5p...https://www.tradingview.com/x/RpBu5Oj8/

Any other support now is speculative and could be here (at 34p, or 32p, or 30p).

Indeed.
This is what I like, a share that's not hugely promotional, yet has numerous reasons for the value to uplift, whether from the core production, to exploration around the core, to new in-house projects, to stakes in outsourced projects, etc.
Even valuing this purely on Yanfolila it's well undervalued (due to the country risks obviously), however, as time passes, that risk discount naturally becomes increasingly unjustified, as the gold continues to be converted into cash in the bank.

Looks like a bit of a shake pre-news. Wasn't going to add any more but becoming tempting now.

Still looks like it's going to be the republican senators that are the biggest hurdle. Perhaps that's the Pelosi gamble. Do a deal with Trump and hope his own side block it.

US stimulus deal hopes are tanking the dollar that's what's driving things today on various markets (including gold).

https://twitter.com/HUM_gold/status/1318504150074822656

More to whet the appetite not just Q3 numbers ;)

As Tesco would say...every little helps. That sustainable weight will be coming increasingly less sustainable ;)

Pardon the wonderous repetition....it's those kind of times.

Trump publicly saying he would back bigger stimulus...
https://www.yahoo.com/news/mcconnell-shoots-down-trump-call-225050459.html

Being shot down by the Senate leader as you say....wonder how that'll play out for them. Wonder how the court of public opinion will judge the republican senate if they're the only ones blocking the deal (and Trump+Democrats are saying they'd do it).

I dunno, Trump's not the kind of guy to back down, but on the other hand you could easily imagine him swallowing the larger stimulus amount, if he thinks that can be played to the media well enough to get him more votes and maybe secure re-election.
Perhaps depends on whether he thinks he needs to do it (or how much control those in his ear have from stopping him doing it).

To be honest I’m kinda surprised he hasn’t too. Maybe Putin’s told him not to ;)

It's not up to him though. Relies on his nemesis Pelosi. So obviously there's a pitched battle over the timing of it.

I've been watching the gold price. Rising dollar should have pushed it down more but it's actually been rising in the past few days WITH the dollar. Slightest hint of a stimulus deal and it should go nuts.

World's in meltdown mode again. Underestimated the virus again and now paying the price again. More money printing will come. Gold will be the place to be (again).

Think we're about to break 39p. Struggling to get quotes for lower amounts at all now. Larger quotes come in but now above 39p.

In recent days, this has been limited by an iceberg at 39p, and quotes for as much as 100k shares would still see the price locked to 39p most of the time (and sometimes below).
Towards the end of today, after some more buying, the quote price finally started to rise above 39p. Could be a slight indication there may not be much left of the iceberg (finally).