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A few posts have been about gas, and as it's the W/E, perhaps I may be forgiven for posting a non-gold topic. I heard recently, which I was totally unaware of, that Israel has a deep sea gas field Tamar with proven reserves of 200 billion m3 of gas. That is remarkable enough. But I heard that forward planning includes pipelines to Greece and Italy to tap into European consumers and replace Russian gas supply in Europe. There is bound to be some very serious competition in that case as both gas supplier nations vie for economic dominance.
My view of Centamin is that it is in a geostationary orbit over Egypt. Sometimes things move faster and the price goes up a little, soon to decelerate back to where it was. If you simply hold Centamin long term there's a distinct danger you end up out of pocket. That is why i try and make little bits where and when I can and squirrel them away. These amounts do add up with time. I'm back in the market today but couldn't extricate myself to effect. Probably one of the worse things that could happen is nationalisation by the Egyptian government. So Centamin has to keep them sweet. We need significant news which translates into extra bars of gold bullion for the price to move, or a sharp hike in spot gold price. This share is testing to hold. Anyone else thought of investing elsewhere, eg, currency trading, As regards crypto, I can't make sense of this apparition. I wouldn't touch it with a barge-pole. Anyway, a chance to live and fight (the markets -- not people!) another day on Monday . Very best wishes to all commentators and investors alike and thank you for your rich and varied opinions.
MrTibbles, you're not the bad guy in some of these recent posts which had become very personal. I have great respect for you and the quality and detail of your posts. Some of these characters should thank you on their behalf for apologizing for their behaviour. However, I have dealt with much worse and it is with regret that I have had to highlight some unsavoury issues that have cropped up on this forum. My belief is that we all benefit from diversity of views. Sometimes it may be good to heed a call. Other times not so good. I like all the cards spread on the table so I can choose the ones I want. In fact, I wasn't going to mention anything about Ukraine, but another commentator encouraged me to refer to the Nord Stream 2 gas pipeline, and this translates to very big time economics. And I did hear that the Russians were considering selling gas for gold, so I thought a post might be relevant. Sometimes, however, a post may be relevant to some and irrelevant to another. But there is absolutely no need to jump on them like a pack of wild dogs. If it is irrelevant, it will just fizzle out. Don't respond, and it will go away. My interests are short term trading which may be over a long period. In my experience, if you are nimble, it is better to sell out on highs and buy on lows, rather than just leave your stock collecting dust. In fact, passive trading is very, very dangerous in these uncertain times. Even if you made an average of £50/day times 300 trading days approx = £15,000 per year. At £100/day x 300 = ca £30,000/year. If, however, you just held stock at bought 100 p and sold 200 p, and for easy maths say you had 10,000 shares that's £10,000 profit/year. If the share price falls to 80 p, you have a £2,000 loss after 1 year. Anyway, each must do what they feel is appropriate. So, once again, thank you for standing in for the people who should have apologized but haven't as yet done so. My targets remain the same as before this unpleasantness took form, and I hope this is the end of it. Happy hunting, but difficult to catch anything this morning.
I find there are several people on this communal chat (it's for everyone -- not just a few who think they own it -- EVERYONE!) who have banded together for no reason (NO REASON -- I have tried to be nice) and have directed undue attention towards myself. You may have succeeded in bullying others, but I find this contemptible when I have no quarrel with any of you and i certainly have not been picking fights with any of you. I have responded in a few cases to rudeness, but in an accommodating way. Bullies have never impressed me and I will stand my ground against as many as you can throw at me. I'm a fighter, if need be, and I'll stand my ground. Please check all my posts and you will see that I have never initiated anything untoward. Go check it out. Then, to the minority who have chosen to zero in on me (perhaps I'm not a member of your private club) for no reason other than I am a newcomer who posts in a different way, you can apologize by behaving in a more cordial manner. As I said in my previous post, we should be helping each other. But to cover myself, no one has a crystal ball. So each investor must do their own due diligence. But it pays to keep your finger on the button when you can. I believe I heard recently from the Gold & Silver Club to expect a low in spot Gold next month. No details. Good luck to all you investors out there. I hope you find what you are looking for.
You will not drag me into the War in Ukraine Sotolo, try as hard as you might. I only discussed an economic aspect of it as it was to do with gold, the commodity which Centamin mines. You will need to take your fight to another ring. Thank you for checking up on me too. Say something nice for once please. I wish readers a restful evening, including Sotolo. Sotolo, there was one other point -- Nazi Germany and today's Russia are not the same. And I'll leave you to figure it out over a mug of cocoa.
I'm not getting involved in a war which has nothing to do with me and is made up of lots of issues not discussed in the press. Why does anyone want to be dragged into someone else's war? But consider the economic perspective. If I were trading gas to a country i deemed very hostile, I might refuse to deliver, or else overcharge in gold bullion knowing that I was going to be used and dumped as soon as LPG (bottled gas) became available. Regardless of the politics, I would accept cheaper piped gas as it would be beneficial to my country and her citizens.
What are meaningful profits/losses? I suppose those that make an impact. Is that figure tens, hundreds, thousands or tens of thousands of pounds? That would be one's own private business, but provide they make an impact (hopefully profits) that's all that matters. I would be most surprised if Centamin investors hung around for derisory amounts, when they could purchase a lottery ticket instead. I hope I have responded adequately to those who raised the subject. I wish all a pleasant evening.
Thank you for your input. As I've been through the grinder before, it's all in a day's work. We still have to fight on. Let me share with you the story of an oil trader on the NY Mercantile Exchange some years ago. Perhaps you've heard the story before which is true I might add. A man took his young daughter to school and attended a parents' morning to listen to their children recite poetry. During the performance, the trader's phone alarm went off repeatedly. The message advised him to return to his desk immediately. When he arrived at his desk, he found he was $2 million down. How do you break such news to the missus? Probably, you don't. But you have to continue to trade and slowly but surely, you recoup your losses and are profitable again. Thankfully, I am not in that position, as I'm sure the men in suits wearing dark glasses would have sorted me out some time again. The point of the tale is you must continue to trade out any loses you incur. On that note, I wish you a most pleasant afternoon.
Centamin share price 88 p at 16-15 h. Decision time. I will hold until tomorrow. Close now and I would experience mild losses. I'll chance tomorrow which might be a + or a - . We will see. Good luck all.
A.m. Centamin 92.8 p. I bought at @ 88.5 p. Fell further to 87.2, but recovered to @ 88 p. I misjudged the extent of the fall today and would be happy to exit near 90 p, as I entered the trade too high. Now trading at 88.3 p at 15-30 h, although anything can happen towards the close. Hope your trades were better than mine.
Yesterday's close was at 87.3 p (prices rounded to 0.1 p). Sold opened position at about 2.5 p rise at lunchtime. Bought again just over 90.0 p. Sold at 91.0p. I now hold no Centamin stock. Total rise 3.2 p. Notice I didn't say profit as I am mitigating losses.
I've heard that spot gold could go down next week. So an opportunity to buy cheaper if you hold cash. Today's action was much more typical of a normal trading day for Centamin. Earlier in the week , trading was toxic.
I hope everyone managed to make a little at least today, but you need to move fast to accommodate price swings either way. I wish you well.
Is Centamin in the words of Gordon Gekko just another dog with different fleas? Following a nose-dive last Friday, the share price moved in a tight inter-daily range with the overall direction downwards. Is this the beginnings of something big on the horizon, or a reflection of apathy and investors throwing in the towel? Should we jump ship?
People who get paid at Centamin include the Board, the Egyptian government, and institutional shareholders. The rest of us get thrown to the lions. Feeding arrangements better improve real quick or I'm out. I'll risk my neck in a long boat where I have some chance of reaching shore. The other alternative, if the situation does not improve, is that the ship founders on rocks and is lost at the bottom, together with retail Centamin shareholders.
To day trade Centamin I need a bottom and a top with a reasonable gap in-between. I'l trade knowing I will never be able to predict either the top or bottom and bank the profits. If I've misjudged it and i can't extricate myself by the end of the day i prefer to hold and try for the first opportunity next day. Sometimes I may have to have an open position for several days which makes me nervous.
Following the disastrous profits report for 2021 compared to 2020 (down a third if I can remember), the share price nose-dived about a week ago to multi-year lows. It tried to stage a recovery, by got hammered further, possibly by van Eck, the biggest institutional shareholders. They seemed to keep it in a narrow price band which made day trading very difficult unless you were super nimble.
It makes me wonder what is going on. I think in terms of fear and greed rather than who's who on the Board. Why do they want the Centamin share price so low.? Is it to facilitate a takeover bid? Is it to shake out shareholders who prefer a less problematic company full of excuses? Then van Eck and others can acquire shares at bargain basement prices. I must confess, my patience is wearing thin. Something is going on and you need to think outside the box to obtain your answer.
To be fair to Centamin there is that shifting ore/tailings wall which should soon be secured. And then there is the possibility of a bonanza gold find during exploration. However, you can become a fossil real quickly being a trader, and I for one won't be hanging on for much longer unless something changes to the upside. Then, of course, there is always the spot price of gold which may improve considerably in these uncertain times.
I do agree though with commentators far and wide who question why the Board have not scooped up Centamin shares. it begs the question, what do they know what we don't? Share options should be directly proportional to the number of shares they have bought on the open market. That would be a wake up call for the Board don't you think?
I've said enough. I am no expert by a long shot. I'm just trying to get by to pay my electricity bill and half-fill my car with petrol. I'm trying to survive like the rest of us in a world in a spin.
Good luck with your trading.
To day trade Centamin I need a bottom and a top with a reasonable gap in-between. I'l trade knowing I will never be able to predict either the top or bottom and bank the profits. If I've misjudged it and i can't extricate myself by the end of the day i prefer to hold and try for the first opportunity next day. Sometimes I may have to have an open position for several days which makes me nervous.
Following the disastrous profits report for 2021 compared to 2020 (down a third if I can remember), the share price nose-dived about a week ago to multi-year lows. It tried to stage a recovery, by got hammered further, possibly by van Eck, the biggest institutional shareholders. They seemed to keep it in a narrow price band which made day trading very difficult unless you were super nimble.
It makes me wonder what is going on. I think in terms of fear and greed rather than who's who on the Board. Why do they want the Centamin share price so low.? Is it to facilitate a takeover bid? Is it to shake out shareholders who prefer a less problematic company full of excuses? Then van Eck and others can acquire shares at bargain basement prices. I must confess, my patience is wearing thin. Something is going on and you need to think outside the box to obtain your answer.
To be fair to Centamin there is that shifting ore/tailings wall which should soon be secured. And then there is the possibility of a bonanza gold find during exploration. However, you can become a fossil real quickly being a trader, and I for one won't be hanging on for much longer unless something changes to the upside. Then, of course, there is always the spot price of gold which may improve considerably in these uncertain times.
I do agree though with commentators far and wide who question why the Board have not scooped up Centamin shares. it begs the question, what do they know what we don't? Share options should be directly proportional to the number of shares they have bought on the open market. That would be a wake up call for the Board don't you think?
I've said enough. I am no expert by a long shot. I'm just trying to get by to pay my electricity bill and half-fill my car with petrol. I'm trying to survive like the rest of us in a world in a spin.
Good luck with your trading.