Randgold Resources Share Discussion Threads

[hpcg] 25/5/2016 15:03

Gap to fill first, so I suspect you are a bit early. But that's my opinion and your money. I'm running my shorts a bit longer.

[richie32] 25/5/2016 14:12

Well, I'm back in. I have a feeling the U.S. interest rate rise (if it happens) will only cause a blip in the overall upward trend

[abc125] 20/5/2016 22:11

Rrs is closely related to the gold price particularly on a weekly and monthly basis. However I have found that sometimes Rrs does not always react on an intraday basis the way you would expect in relation to the prevailing gold price.

I recently read a book with the cheesy title of "How I Made $2 Million in The Stock Market". The writer was an international travelling dancer (lol) in the 1950's and the only way he could make his trading decisions was by looking at the closing prices the following day in the newspaper.

Oddly, when he spent a spell close to the action in New York his trading performance suffered.

The moral of this little story? Darvas found that by focusing on price only was the best policy.

Lately with Rrs I have tried to just focus on the 1,2,4 hour and daily candle charts and timing my entries off the 5 and 15 minute charts. It's very hard to filter out the macro noise however!

Though technical analysis is important most traders fail because of poor trading psychology. I'm finding this the most difficult aspect of trading.

[evianone] 20/5/2016 17:14

abc125, thanks its interesting how everybody has a view and I like the AB=CD pattern, that's if it happens, I will keep a close eye on the share as its given me a good return recently and I don't want to be bitten on the bum!!and loose it all, thanks for you ideas.

[abc125] 20/5/2016 13:41

After a strong 70% run up since Xmas Rrs was consolidating the gains nicely in a quite narrow range for two months. And then we had the off-field event: a 1130 point plunge over two days.

To me, this looks like an ABC ending move of the consolidation before the next run higher. The A wave down was 1130 points (6850p-5720p) followed by a volatile 665 point upward retracement to 6385p (59%) over several days. If the C wave down is of equal length, we should bottom out at 5255p (6385p-1130p). Technicians love the AB=CD pattern. Of course, there is no guarantee it will play out but I will be considering long entries between 5000-5500p.

[evianone] 20/5/2016 12:43

hpcg, thanks for detailed reply very educational and helpful

[hpcg] 20/5/2016 11:59

Yes - the gap is there, and I am sure everyone can see it. The less the markets react to the possibility of a rates rise the more likely it is. 1260 is an important level for gold having been support for a while, and before that resistance. Hanging man candle yesterday, and we are still in the body of that. Currently sandwiched between the 20ma and 50ma with 20 now heading down. Something has to give by the end of the month when they collide, if no major move before. Yesterday's move through the 50 was swiftly rejected. 200ma for gold is at about 1190 and so a reasonable move would be to head back there for a test. We can see in the chart that gold is attracted to its 200. It may even burst below, which we can see several times on the way down. In the medium term, with the 200 now sloping up that will probably be a test which passes. MACD lines are heading to 0, and Williams %R is in negative momentum, and negative Heiken Ashi candles are starting to dominate. In other words the balance of probabilities for gold in the short term is negative vs USD.

[evianone] 20/5/2016 10:38

abc, very good buying opportunity if that happens £52/53 needs filling, lots to take in, interest rates in America, euro vote.

[abc125] 20/5/2016 09:23

I was expecting a straight 1000 point down move like the one from 3rd of May. It looks like this will meander down in stages. The current bounce should not get further than 6200p.

[evianone] 19/5/2016 10:34

I have traded this over the last 2 months, I think it will fall this afternoon when America opens, support at £57 stop loss at £56 failing that £54 area to buy, if FED don't increase interest rates in June could be back over £60 easily.Any views?

[hpcg] 19/5/2016 10:14

Sold some after the open. Risk reward for a short here looks attractive. There will be a lot of people who can lock in a profit, and we aren't yet as low as the drop from the production statement.

[abc125] 18/5/2016 22:59

A bearish close in the miners across the pond suggests Rrs Could see a fast and furious flush to the downside. 5200p is a possibility.

[abc125] 18/5/2016 22:58

A bearish close in the miners across the pond suggests Rrs Could see a fast and furious flush to the downside. 5200p is s possibility.

[jamesiebabie] 13/5/2016 17:14

A must listen.

A special guest this week as metals trader Andrew Maguire joins the Weekly Wrap-up. Hear Andrew discuss the significance of some short-term price targets, the current global physical gold picture as well as the growing impact of the Shanghai price fixes.

[mike24] 11/5/2016 09:04

china's private debt load, $1tr added Q1
is worse than Ireland's in 08

stash the cash under mattress time?
edit chart dow back below 17600
17/5 investors have pulled $44bl from markets in last 30days

[evianone] 10/5/2016 09:05

thanks, good point which I do need to do with all my shares

[trader365] 10/5/2016 08:16

evianone if one tries to sprint a marathon then one will never make it to the finish line. Run your winners.

[abc125] 09/5/2016 21:28

The bounce back from last weeks plunge has been feeble.

So we dropped from 6850p last tuesday to 5720p on thursday. Thats a 17% drop over 3 days. The bounce back has been 9% to 6215p intraday. Not good.

Big down days which blast through prior supports are not long candidates in my book (unless short term trading).


p.s. I'm not perfect however. I had shorts on from the 6800p area which I closed prematurely. The psychology of trading trumps technicals and fundamentals every time imho.

[evianone] 09/5/2016 15:23

trader365, this is what I had expected on Friday and its why I sold, obviously the payroll figures were not very good on Friday and pushed gold up as interest rate in america is not going up soon. Today gold has broken its support of 1,275 which is reflected in the drop.

[evianone] 09/5/2016 08:50

Thanks trader365

[trader365] 09/5/2016 08:31

evianone I entered after watching price action turn in a shorter time frame.

ATR here:

[jimbo55] 08/5/2016 09:34

Not posted on this board at all, but I put the price drop down to a combination of the reported mining issues reducing output (11% reduction yoy from memory, but feel free to prove me wrong - my memory can be hazy) combined with a ton of stop loss orders set at around the £60 mark all being triggered into a situation with no immediate buying liquidity. I used this as an opportunity to purchase a small amount of an initial stake - seeing the operational issues as short term. Will have to see what happens over the next 3 - 6 months generally. I intend to be a gradual buyer on weakness.

With any luck, the fall in share price flushed out a lot of the hot money that decided to chase the February surge.