focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Yes, RMS a good comparison. Likely to have spikes like RMS, but best to sell them, however sooner or later may just collapse. Of course like RMS upside could be great if he pulls it off, which may keep people interested for a while. I actually trust the RMS guys now, but they are just pretty incompetent, the CLP guy is worse than TB IMO, but maybe he’s a genius and can succeed.
Hi Maf - the short answer is no. Yes the crypto play was always the reason for the large SP increase this year. but they need funding to do it. I sold out as the CEO just can't be trusted. They have a court case in Italy that they are supposedly going to win that would have provided a lot of this funding, but it got postponed due to covid. However, he only RNS'd this the day after the case was meant to happen, when everyone woke up expecting an RNS outlining the result of the case. the SP had spiked above 4 during the week then had fallen back on the day before the court case. In hindsight he had let friends and family sell out and make a killing. He must have known the case was postponed days before IMO. Anyway if I was clever like John I would have top sliced heavily, but ended up getting out flat. That being said the share is in the buy zone now, with the rescheduled court case sometime in May. So could trade for a 20% say, but I wouldn't expect the same spike as last time given what he did. It may get postponed again, if so he may not tell you.
Happy with ARB so far, SP movements give credence to theory the large down move was a ****tail of sentiment, shorters plus large seller. If the seller has gone then downwards pressure less now (seems to be what we are seeing), and if BTC recovers the SP should move up quickly. I guess a massive attack from shorters could still scupper this.
Hi Brazil -
185. 15/4
164 16/4
158 19/4
150. 20/4
138. 20/4
134. 20/4
131. 20/4
On the 20th (Tuesday) I bought at 150 on the bell which turned out to be a mistake. The price then spiked lower and I bought 3 more tranches in the 130s. I then sold the 130s early on yesterday morning which was another mistake - but I have a large LTH as well as these punts so am overexposed.
I think it will struggle for 225 today as BTC weak, but if BTC recovers and US miners open strong then maybe. I just looked through my punts, I bought at 185, 164, 158, 150, 138, 134 and 131 on the way down!! Closed the lower 3 out for small gain as am far too exposed here, but still running others.
Interesting...
https://www.bankofengland.co.uk/news/2021/april/bank-of-england-statement-on-central-bank-digital-currency
Hi 1509, as you know I've loads of ARB anyway, my last 3 buys are trades, so happy to sell one at a profit. Not sure it overreacted today, I think it overreacted last week! Given where BTC is the company is highly profitable. Still, it is wholly reliant on BTC price, so very high risk P&L. Will look at ODX.
Hi Brazil - 120 would have been nice! Tried to buy some in the 140s first thing, but couldn't, finally got some at 158. Despite what I said last week, I just couldn't resist a final top up. I think BTC at 57k surprised some people, anything over 50k's still really high IMO. Looks like some resistance at 58k so not really expecting quick move back up to 60s today, but if we can avoid moving back into the mid 40k range which would constitute a real correction then I think ARB should be OK (hopefully......)
Hi 1509 - good luck!! Thought Arb just as bad this week. Hoping next week better, BTC holding above 60k, so it’s a little perplexing, I guess it’s rotation into other sectors. Need some sentiment back, though 200 looks a long way from here.
Agreed that's the risk, but the upside is the 230 -250 range again if BTC consolidates in the 60s, so at this price looks good to me. But as I said I'm not buying any more as am fully loaded with my LTH position. As always we'll be looking for direction when the US comes in.