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Teetering very finely at the moment. The direction depends on whoever makes the first big move, either late today or tomorrow
Low volume so far today, lowest since May 4th, when the SP was circa 150p.
4 of the biggest spikes in the last 30 days have all been red movements, compared to the next 3 being green movements, with the highest volume of those being at 9m.
Hopefully most day traders have taken their profit and moved on elsewhere by now...
Oh theres a crash coming that's for sure, I am being brave, and maybe even foolish by thinking it will be just minor tremors until August/September, like yesterday to some degree, but around that time I plan to be mostly flat, with only holdings that I have no issue topping up with at a low level.
While it's still swinging around, what you may notice is that the gap between high and low, and thus the volatility is gradually declining.
9/6 - 333 - 268
10/6 - 330 - 277
Today - 11/6 - 315 - 287 (as of writing)
Foresee a movement upwards up early next week!
That is just a characteristic of commodity stocks, otherwise they would be merely an index.
Big FED announcement tonight, something tells me its wise to just keep hoarding, at the moment. There is something nasty around the corner, i can feel it..
No substantial thoughts really, they are investors just like the rest of us, and are entitled to their pay out.
There's such a positive wave of sentiment around at the moment, I would be have been alarmed had they sold when the chips were down, so to speak.
250 would be my next marker, key round numbers can also act as support levels, below that I would look at the 215, possibly 200 level. The % of drop decreased enough today that I don't envisage it getting that far, perhaps it may test 250, but it has bounced off 265 both times, both yesterday and today.
Obviously most people don't take the word support as literal stop and safety mark..