Glencore Share Discussion Threads

[arja] 03/2/2017 15:16

dow keeps rising today and pulling FTSE along but miners struggling . I thought GLEN was a good bet for a rally at 313 but not today unless a late rally eventuates ! Looks like a loss to spoil my weekend ( wry smile )

[losses] 03/2/2017 13:38

It's temporary blip and a healthy pullback...

[younasm] 03/2/2017 12:49

Closed some short positions--- not much profit as I had opened quite a few in 310-325p range last month.I wasn't expecting this drop so soon.

[gxgxx] 03/2/2017 12:07

Sit Tight - All will return - most of us have seen this happen before (many times).

MM's Market Manipulators just making thiers buck$ as they always do.

Particularly in the case of Glencore - This will make the news (dividend reinstatement etc.) coming in a few weeks even better looking and the price if still deflated an even more inviting opportunity.

The share price is a roller coaster and a money churner for the traders. Long term a safe and secure thing.

Just close your eyes and hang on for the bumpy ride Upwards!!!^^^

[losses] 03/2/2017 12:00

China tightens monetary policy via repo-rates riseFeb 3, 2017 at 2:01 a.m. ETBy Shen HongSHANGHAI--China's central bank raised key interest rates in the money market Friday, reinforcing a shift toward tighter monetary policy aimed at deflating asset bubbles and reducing long-term financial risk.The latest effort by the People's Bank of China follows a similar decision shortly before the weeklong Lunar New Year holiday to increase the borrowing cost on special loans to a select group of commercial lenders, a move widely interpreted as an effective policy interest-rate increase.In its daily money-market operation, the PBOC raised the interest rates it charges commercial banks on the seven-day, 14-day and 28-day loans, also known as reverse repurchase agreements or repos, each by 0.1 percentage point.The central bank had kept the benchmark seven-day repo rate unchanged at 2.25% since October 2015, before pushing it up to 2.35% Friday."If the rate hike on the MLF was the first gunshot, the move today has made the policy picture very clear now," said Liu Dongliang, senior economist at China Merchants Bank.Mr. Liu was referring to the PBOC's surprise decision on Jan. 24 to raise the borrowing costs on loans to 22 financial institutions via the so-called medium-term lending facility, special loans ranging from six months to one year that were designed as a fresh liquidity tool in 2014."There are no longer any illusions about the authorities' intention. We are looking at a neutral to slightly tight monetary policy now," Mr. Liu said.The PBOC has also continued to withdraw cash from the financial system. Using Friday's liquidity operation, the central bank drained a net 70 billion yuan ($10.17 billion) from markets, repeating the same exercise for the fifth consecutive trading day.The central bank injected a record 1.13 trillion yuan into the money market ahead of the Lunar New Year break on Jan. 28 to meet a seasonal surge in demand for cash. But it has since dialed back its liquidity easing, signaling an effort to prevent markets from reading the one-off pump priming as policy loosening."The MLF rate hike basically set the tone and today's follow-up move has reinforced Beijing's message that it's determined to cut the high leverage in financial markets and pre-empt systemic risk," said Zhu Chaoping, China economist at UOB Kay Hian Holdings Ltd., a Singapore investment bank.Chinese shares and bonds fell in response, as the PBOC's move has further raised the cost of the type of speculative investment that has thrived in the past three years on cheap, easy money.The benchmark Shanghai Composite Index fell 0.6%, while the yield on the 10-year Chinese government bond rose 0.06 percentage point to 3.41%, the highest level since Dec. 20.The reaction in China's money markets was more muted. The benchmark seven-day repo rate fell 0.14 percentage point to 2.50% despite the news, in a sign that Friday's rate increase wasn't a total surprise.Chinese leaders have repeatedly vowed to rein in debt-fueled speculative investment that has inflated prices in the past year for everything from bonds to iron ore and garlic, developments that are deemed to be feeding long-term financial risk into the world's second-largest economy.However, the authorities have increasingly demonstrated a preference for using short-term measures rather than blunter instruments such as policy interest rates.China's official policy interest rates remain the one-year lending and deposit rates, instruments that are increasingly considered ineffective due to their long duration and the insensitivity toward borrowing costs among China's dominant state-run firms.The Chinese currency's recent rebound against the U.S. dollar and signs that capital outflows from the country have started to ease also give Beijing more room to tighten its policy, economists say."If money continues to leave China, you actually need to put more cash into markets so as to avoid a liquidity crunch," said Mr. Zhu.

[keifer derrin] 03/2/2017 11:29

Mining shares are falling after China’s central bank raised short term interest rates overnight.

That is holding back the FTSE 100, which is up 30 points thanks to the Trump-induced rally in bank shares.

Michael Hewson of CMC Markets says:

The mining sector has slipped back this morning after a disappointing Chinese manufacturing survey as well as slight tightening of money market rates by Chinese authorities. It’s not immediately clear what prompted this action, though there is speculation about rising concerns about a property bubble, and this slight rise could well be an attempt to warn that tighter policy is on the way. Glencore, Antofagasta, BHP Billiton, Anglo-American PLC and Rio Tinto have all slipped lower at the open.

On the upside banking shares have gained a lift on speculation that US President Trump may well sign a new executive order to roll back some of the Dodd Frank regulatory bill, helping push Barclays and RBS higher.

[a2584728] 03/2/2017 10:20

I have added this morning. It's healthy for them to pull back. I don't like straight line rises

[losses] 03/2/2017 09:02

Bought some 314... trading

[tsmith2] 03/2/2017 08:53

Retrace to 275?

[keifer derrin] 03/2/2017 08:36

i know we've had a great run recently - and am looking on sites, but cannot see why such a dramatic drop

[arja] 03/2/2017 08:31

now 310 and mining stocks hammwered today but MAY recover a bit later - friday blues !

[jm2009jm] 03/2/2017 08:20

260k....pmsl..
fantasy traders out in force...lol


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glenkaz2 Feb '17 - 10:11 - 12879 of 12883    0   2
Forgot I had stop loss at 285 triggered Hl sold at 281 .. Bought back at 329!!!!!! Only had £260k in!!!!! Never use one again! ..
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[losses] 03/2/2017 08:05

Wowzers drop to 313!!

[glenkaz] 02/2/2017 18:39

Glad I sold at 332 and got back in 326! 😃

[raffles the gentleman thug] 02/2/2017 15:39

stop losses are why something like 82% of CFD and spread bet trades don't make money

[glenkaz] 02/2/2017 10:11

Forgot I had stop loss at 285 triggered Hl sold at 281 😱 Bought back at 329!!!!!! Only had £260k in!!!!! Never use one again! 😡

[losses] 02/2/2017 09:53

Pretty decent update considering awful last few years with commodities on the decline.

[jailbird] 02/2/2017 06:16

hxxp://www.rappler.com/nation/160270-denr-closes-mining-operations

DENR announces closure of 21 mining operations

(3RD UPDATE) 'We have decided to close any kind of mining operation in functional watersheds,' says Environment Secretary Gina Lopez

Editor’s Note: In an earlier version of this story, Platinum Group Metals Corporation was erroneously included in the list of companies with mining operations to be closed in some areas of the country. This has been corrected.

MANILA, Philippines (3rd UPDATE) – The Department of Environment and Natural Resources (DENR) announced the closure of 21 mining operations in several areas in the country on Thursday, February 2.

"We have decided to close any kind of mining operation in functional watersheds," Environment Secretary Gina Lopez said at a press conference on Thursday.

Lopez, who is still conducting the briefing as of posting, said the mining operations to be closed are of the following firms in the following areas:

Zambales
•BenguetCorp Nickel Mines Incorporated
•Eramen Minerals Incorporated
•LNL Archipelago Minerals Incorporated
•Zambales Diversified Metals Corporation

Homonhon
•Mt Sinai Mining Exploration and Development Corporation
•Emir Minerals Corporation
•TechIron Mineral Resources Incorporated

Dinagat Islands
•AAMPHIL Natural Resources Exploration
•Oriental Synergy Mining Corporation
•SinoSteel Philippines HY Mining Corporation
•Kromico, Incorporated
•Oriental Vision Mining Philippines Corporation
•Wellex Mining Corporation
•Libjo Mining Corporation

Surigao del Norte
•Adnama Mining Resources, Incorporated
•Claver Mineral Development Corporation
•Hinatuan Mining Corporation
•CTP Construction and Mining Corporation
•Carrascal Nickel Corporation
•Marcventures Mining and Development Corporation
•Platinum Development Corporation

Lopez also announced the suspension of the following mining firms:
•OceanaGold Phils Incorporated
•Lepanto Consolidated Mining Company
•Citinickel Mines And Development Corporation
•Ore Asia Mining and Development Corporation

– Rappler.com

[glenkaz] 02/2/2017 05:53

Booooooooooom! 🤒

[a2584728] 01/2/2017 16:40

I bet the institutions will be loading up the pensions in This very soon.

[losses] 01/2/2017 09:18

Divi news will be on 23rd as well

[keifer derrin] 01/2/2017 09:06

tomorrow we get glen's production report for last year....let's hope some good reading ready for the finals on the 23rd Feb