Trading the stockmarket (NO Referrals)

[silversurfer]

Gulf Keystone is to start exports of 5000 barrels of oil a day. No wonder the share price is down 4%, how disappointing -
wait wtf


http://www.iii.co.uk/articles/15563/gulf-keystone-begin-exports-kurdistan




Few things down again, MXP is down 10% Not especially higher volume though. CNR completed a reset back to its previous levels, will it drag along like it did before

RRL holding at 16 which is a good area for it

 

[Teledude]

Just opened a large T20 on AMC.... Bit of a punt but I've got enough there to cover if needed

 

[Blackhawk47]

The old favourite that is SAR is on the rampage again this morning - up 25% already with new details and documents on it's website

http://www.sareum.co.uk/base/images/pdfs/SareumMay20052011.pdf

Been keeping an eye on it all day. Lets see what tomorrow brings.

 

[Oh Ed not again.]

Another day, another sea of red, and another shafting for the two small cap miners in my portfolio.

This, is getting old.

 

[Aloreth]

Lucky sod,

Who to you trade through? I sat re-requesting quotes for about 30 mins, eventually i got a live quote for £4k at £225

In hindsight this XEL purchase was not as brilliant as I thought at the time. No point in selling now just going to ride it out.

In hindsight I wish I had just taken my profits and done a runner a month ago, think i have lost about £10k in the last month.

Will hold on for now, dont anticipate a total collapse so figure I should be back to where i want to be in around 6 months time.

 

[Simon]

In hindsight I wish I had just taken my profits and done a runner a month ago,

Ditto, could have got back in with a tidy increase in shares

 

[Russinating]

Went the wrong way with BLND pre-results. Results were fairly positive but I think they were sitting too high already following LAND's results. Nevermind - you learn!

 

[Firestar_3x]

Another day, another sea of red, and another shafting for the two small cap miners in my portfolio.

This, is getting old.

Yep, this is starting to get rather old now, what’s with the poor market sentiment at the moment, everything’s been turned on its head, at the moment I’m in the position of a company issuing good news and the SP falling.

WTF!

 

[Aloreth]

So long as you aint greedy and leveraged to the hilt its not the end of the world, you either a) Anticipate a plunge back into recession sparked by Greece and Portugal's poor economy combined with Germany's unwillingness to bail them out

or

b) This is a wobble and all will be fine in a month or two.

Im feeling less confident than I was yesterday, feel like we could be balanced on a knife edge at the moment.

 

[aardvark]

silly price on xel - actually went below my average for the first time in ages -so i bought some more at 168.
it beggars belief - production starts at the end of the year!

 

[Oh Ed not again.]

Yep, this is starting to get rather old now, what’s with the poor market sentiment at the moment, everything’s been turned on its head, at the moment I’m in the position of a company issuing good news and the SP falling.

WTF!

Yep, both CNR and ORE have dropped on good news. Nearly cried into my cornflakes when I checked ORE this morning at 9% down, thought I'd got in at a good level at 0.8p now I'm nursing a loss.

What annoys me is this is coming at a time where gold is rallying, and prospects for both of the above are positive and traded volumes are up.

I can only presume (III + Lse share board banter mode on) that the drop spikes are MMs triggering stops to fill orders?

 

[silversurfer]

it beggars belief - production starts at the end of the year!

Well thats good news but do they need more funds to start up maybe. Usually takes about a year to get the money rolling in and switch to a real operator status.
I thought they were going to get taken over, South Korean oil has a budget of billions to source for their countries needs and have bought Dana oil outright


As far as negative days. The possibility is for it to just keep getting worse, all the major western governments have too much debt.
If USA starts to tank it should help gold price because gold is an alternative store of value to the US dollar (which backs all other currencies including ours)


So even if there is bad news, gold should be ok and therefore miners who supply gold should do well.
Right now explorers are suffering I think because they need money and finance, if the debt market falls over and not even Spain or Italy can borrow then who will give to a little south american no production miner.

I guess this is why Garry White who writes Questor column always says go for companies with good cashflow and current production. In hard times they'll self invest and grow at a slower rate. RRL has production, CAD does.
Emed doesnt but Im told they are funded enough though I never believe it because budgets often overun.

I sold off more BP yesterday regrettably, should have done it at 468 or 460 even ended up at 453, opps. No loss but little profit, this is just for the sake of cashflow.
Too many things are cheap which makes BP less of a bargain

Im actually up today




UK's credit rating is downgraded... by China http://bbc.in/it9vnC

The agency blamed the UK's sluggish growth, which it said would be stuck in the 1.3%-1.5% range for two more years, hurting government finances.

The downgrade from AA- to A+ puts Britain on a par with Chile and heavily-indebted Belgium, and the US, which Dagong downgraded in November.

No good reason for CNR to sell at 6p a share? gold is a strong market still

 

[Oh Ed not again.]

I'm liking the way CNR work. Awaiting moratorium decision on El Sal, so you start up a charity based on the successful outcome.

The Charitable Foundation has the potential to receive income or capital from three main sources:
1. Condor resumes drilling on its concessions in El Salvador, completes a bankable feasibility study and the concessions are sold. The Charitable Foundation would receive 10% of the sales proceeds.
2. Condor builds a producing mine in El Salvador. The Charitable Foundation has a 10% economic interest in the mine and would participate equally with other shareholders in future profits and dividend distribution.
3. Cash donations, similar to the US$10,000 donated by Condor.

 

[Gangster]

sorry if its been asked a million times, but anyone reccomend a good/cheap commision website to buy/sell shares? Seeing iii pop up a few times here in posts just wanted to hear what you guys think is the cheapest/best.

thanks

 

[dowie]

silly price on xel - actually went below my average for the first time in ages -so i bought some more at 168.
it beggars belief - production starts at the end of the year!

Just out of interest - at what point would you change your mind and decide that its a bad investment and close the position?

Would it be a particular price figure or would price not bother you and you'd require a change in the fundamentals or a news story to change your view on the position.

Am always a bit curious about adding to a loser, obviously there are many ways to make money and I'm certainly not stating that doing this is a silly thing to do or anything along those lines, quite clearly it could work out rather better of you but on the converse it is sometimes going to compound losses.

 

[silversurfer]

Buying just because it got weaker could turn out badly as the reasons would be left unexamined and could prove true. Same for selling just because the price went down (or up even, Ive sold too early often)

Its hard to match market perception and selling to what is the companys prospects. Often it swings down harder then it should, have to weigh it up.
The banks werent at that point till Feb 09 prices, people like Robert Peston pointed out the disparity but it is very muddy waters




Speaking of which Range resources is tanking nicely at the moment. Looked at this yesterday and it is a weak share right now, I held off buying any till towards end of today when it really dipped at close to 14.5p buy price.
Got a bit there, reason being is this marks the 61% retrace of this years bull run for the share. Its tipping over the edge could go either way like the end of the Italian job



Will save any larger buy for 11-9p or so if it ever got there It should at least hesitate here as we see from February's prices this is a ledge for it


Im not sure why RRL is unpopular right now but its probably safer then many pure explorers.
Will try to capture the weaker prices over the next week, same as CNR at 6p or near to that

I see RRL as at a lull, no news is boring. We sell as people lose interest and this self perpetuates weakness. Any big rise needs news to back it or people just take profits gradually continually, thats my theory. An aim share halving is normal


Also bought CLF. Barc and Lloyds have recovered, BP is making a bit of a recovery, lost it for today but might chip a bit off to end the week
Encore is at suport I think, nice point to buy at presuming all negatives are in the price


Cheap broker halifax or xo

 

[aardvark]

Just out of interest - at what point would you change your mind and decide that its a bad investment and close the position?

Would it be a particular price figure or would price not bother you and you'd require a change in the fundamentals or a news story to change your view on the position.

Am always a bit curious about adding to a loser, obviously there are many ways to make money and I'm certainly not stating that doing this is a silly thing to do or anything along those lines, quite clearly it could work out rather better of you but on the converse it is sometimes going to compound losses.

its always difficult to buy more when you are losing but i try to concentrate on the fundamentals and not the price. i am in xel because i am happy with their position - successful flow test, 100% ownership of a large oil field, first stage production starting by the end of the year - sure, the market reacted badly to the rr report, but the company was only allowed to book reserves for the core well and not the whole field - so i'll wait until production, and barring any disaster the company will have to be re-rated once its selling oil to market.

 

[Russinating]

Just out of interest - at what point would you change your mind and decide that its a bad investment and close the position?

Would it be a particular price figure or would price not bother you and you'd require a change in the fundamentals or a news story to change your view on the position.

Am always a bit curious about adding to a loser, obviously there are many ways to make money and I'm certainly not stating that doing this is a silly thing to do or anything along those lines, quite clearly it could work out rather better of you but on the converse it is sometimes going to compound losses.

On price at the moment, because NT is currently my bible .

 

[Russinating]

That's a bit better! We all like a blue day, especially for SBs.

 

[Panda]

Anyone still in HER ? I am, nice rise today on news. Wish I'd topped them up and not CNR and RGM, thats life though

Herencia jumps after discovery

By Benjamin Chiou

Date: Friday 27 May 2011

LONDON (ShareCast) - Miner Herencia Resources' share price rose by almost a quarter on Friday after sampling tests at its 70%-owned Chilean project revealed high grade copper and silver.

Result from surface sampling around 200m south-west of its La Rosa prospect in the Paguanta Project, located in northern Chile, showed grades of up to 2.6% copper and 202g/t silver.

"Importantly, the La Rosa prospect is within close proximity to both the Doris prospect, where copper and silver have been confirmed on surface and in diamond drill holes, and the Patricia zinc-silver-lead-gold Mineral Resource," the statement said.

Herencia's managing director Michael Bohm said that the discovery further enhances the "porphyry prospectivity" of the Paguanta lease.