Trading the stockmarket (NO Referrals)
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Soldato
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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.
Ditto, could have got back in with a tidy increase in shares
Soldato
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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!
Caporegime
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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!
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.
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.
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?
Soldato
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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
No good reason for CNR to sell at 6p a share? gold is a strong market still
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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.
Soldato
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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
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
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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.
Soldato
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Soldato
- Joined
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That's a bit better! We all like a blue day, especially for SBs.
