Member Info for SteveJones999

Payrolls miss which is good- US employment good which is not so good, however most commentary (SO FAR) seems to be good for gold- here's hoping it continues...

All depends what is reported today at 13:30- need a miss else

Gold will go down further and cey with it- else opposite

Bit late their Tony- happened earlier and has been recovering ever since l, now vix futures up only just under 3% as I type…

Usual stuff, markets need a catalyst to “do something” in the absence of anything else.

Great comment from Michael Gapen earlier - where are all those people who said all during 2021, 2022 and 2023 “ guaranteed recession and so on… (accept there are a few around but minor, not the key USA).

GAPEN(bank of America) REVERSES RECESSION CALL “Recent incoming data has made us reassess our prior view that a mild recession in 2024 is the most likely outcome for the US economy. Growth and economic activity over the past 3 quarters has averaged 2.3%, the unemployment rate has remained near all time lows, and wage and price pressures are moving in the right direction, albeit gradually”

Michael Gapen

Head of US Economics

Thanks Fitch :-(

It was ever thus - the tories will win the next election

The article is self explanatory

Your date is wrong

Thanks Goldgnome- this stock is my primary day trading one- the rest of my portfolio is tied up eg pension, property etc driven by other I trust with balance- anyone with a lot of savings could simply trade this one- I work on being right 75% of the time and using stop losses to protect the big whacks- but as I’ve said before I sometimes get greedy on the the take profit and let it ride too long- with this stock so low and Horgan and evidently controlling things well now I think at some point this will jump - mail on economic data but also around RNS

I don't always win - the last time I posted a trade here it was a loss- eg 2% S/L kicked in, when my profit didn't hit my target so I held too long- but I tend to protect myself this way, but let profits run sometimes which can be a fault. I don't worry about the SP at all eg if I sell with a profit and it jumps and I'm out too early, I'm equally happy to go back in at a far higher price if I think the data tells me to do so. Today has caught me out a little, but not to S/L level... yet... will see Monday. I'm surprised at the closing 93.7 as the FTSE, US is flying, and gold rose and yet CEY dropped, although UK miners didn't do great overall today. However, Barrick and Newmont going well now in USA as I type so will watch to see where they, and gold closes. Of course, I cannot trade until 08:00 Monday. Will see what that day brings. Have a good weekend.

I went back in again after US data released @~94. Surprised it dropped a bit, but expect this is good entry point. I went out yesterday @~99.2 avg on data. I traded approx 100k shares. Like I said, can't win them all, but aim to win more than lose- will hold these unless loss gets past my S/L

Also I keep saying it doesn’t matter what you or I or anyone else thinks what is fair value or not - stocks with primary drivers like cey never work like this - work within the system - you’ll drive yourself nuts otherwise

Just trade around data points- I keep sending a link to data points that move gold and the timings/ not always 100% right but am 75% of the time- why people don’t sell and buy around these is beyond me -

Try trading it instead of holding

The clue is in your message Tony... "spend up" figures everywhere and what do people generally associate with "spend up"? Inflation... and what is the tool for attacking this? Interest rate rises....

It doesn't matter what we think, the market downer on gold had to happen after this data, based on what the FED said yesterday.

As always, trade within the system, and it's irrelevant what I think of the system, I have to trade within it, and the rules surrounding it.

No, I disagree.

It was the US Data released today at pre-determined normal times that caused the issue- the FED said again yesterday that would watch data and do what was necessary", which they have been consistent with for ages.

The upshot assumption meant that should the positive economic data, further tightening is more likely than it was. We live in a data driven world, which is why I follow the data.

Equally, as I've posted many times before, this stock has a massive driver, gold. As such, like most miners, it remains a great , high risk/reward trading stock and not a good holding one.

Hence gold parting back a little

When I clicked on twitter today, thought the "X Factor" had made an unwelcome return lol

Not worried, this is my point.

Another article on top of the one I posted last week-

https://enterprise.press/stories/2022/06/15/egypts-fdi-might-outdo-much-of-the-world-in-2022-73779/

Again, I ask, why on earth would Egypt put at risk foreign investment by nationalising? Bonkers, it simply makes zero sense on any level.

Thanks Tony and Dotlink.