Member Info for Stupmy

Exactly EQ, it's absolutely scarey how powerful human nature is.

What's odd here for me, is that I bought below 442 and yet my limit buy at 442 didn't trigger. How is that possible? I'll not leave my screens until I've got a sensible position here

Well, maybe I'm wrong fog, but the chart is saying it's being dumped. I've just bought at 441.6 or thereabouts, plus I think I had a limit at around 442 which must have triggered. I'll continue to accumulate as I've done up to now and I'll drop it the moment the profit is good enough. For me it's working like a dream to be honest. The drop today might well be finished so I'm looking forward to evidence that the buyers are getting the upper hand. To now my buys are speculative. From now, I'm looking to jump on the back of a whale

I think a major SH is selling fog, that's been guiding my decision making. Yesterday my average entry was around 452, today I'm starting from scratch and hoping for 442!!

I don't know why the selling is happening, but it is. The divergences you're talking about can only go so far (as long as there is no 'accounting issue').

I thought the same. The fact that Zuckerber, Bezos et all have been dumping billions in stock is probably a sign to keep an eye on. Hasn't changed much on US markets mind.

Can't help wondering whether we're off back to 440/442 or below. Dropped heavily into close.

There we go, gap up to 465! Great news.

Well, you can't trade it so it's presumably in auction. That means it's going to respond to yesterdays PM activity and my guess is that we are indeed in for some relief.

Also agree Tony that it tends to swing about around 50p

That we'll see 12.75 or below in the near term.

OK, well rates held, not sure why that would cause such a market reaction. Is there something else?

Should provide some relief, Gold and Silver jumped up, as did the US stock markets. Not sure what the news is (rates cut?) but if it holds, we may very well get some relief on FRES tomorrow.

Does it depend upon the market accurately assessing the value of a company via the valuation of it's shares? Isn't the idea of the buy backs that a company with fcf and the view that it's shares are currently undervalued, can buy those shares back (with SH approval) thus taking advantage of what they hope is a short/medium term misalignment between true value of a company and Market capital? After that, only time will tell if the management were right or wrong, but if they were right to do it and the SP revalues to the upside, then buying the shares back benefits the remaining SH's?

No active shorts according to Shorteurope. If that's accurate, then someone is selling. I'm not very familiar with the accumulation/distribution indicator, but am playing with it a little after comments on another board. It seems to be clearly showing distribution (suggesting someone is offloading into the market). I'd be very happy to hear what others interpretations are.

I can't see on my chart when it's been this low previously JM, do you have rough date on that?

Do Penoles really own 74% of the shares?

That's almost uncanny, I was just asking myself "How long will it be before someone cites a takeover for FRES after todays drop". Not long apparently.

Well Berenberg agree with that fog, their latest comment on the 6th was as follows:

"We seriously considered downgrading Fresnillo to sell after its 2023 results but believe that, after a model update and review, the current valuation, albeit at a premium to most London-listed peers, just about sits in the range of fair value versus market price," Berenberg analysts said, in a note aptly titled "bearish hold".

That would have to wait for the end of period Tony. So there are a few days left to end of March for the price to recover a little. I'd feel more comfortable to see the price close out this week above 457/458. Might give some support to the hope of a bounce around here.

There you go Sharpey, saves the Yanks the trouble later on.

I've just looked it up. Here's a link describing normal market size and how it relates to MM's

https://www.investopedia.com/terms/n/normalmarketsize.asp

In very liquid markets you can get trades off well above normal market size, whether it's MM's or individuals taking/providing those shares I don't know. If liquidity is not that great, it's sometimes hard to even move the normal market size. It's why it's often best to stick with popular shares on main markets. Makes it easier to get in and out and the spreads are normally reasonable.

Not sure about that Hopeful, you'd struggle to get the MM's to take a million shares in many markets. They are obliged to trade, but I think it's only up to the normal market size. in many markets that might very well be 10,000 shares. There must be someone here with specific experience in that.