Yes I'm looking at 800 or thereabouts. |
More interesting than a few weeks ago that's for sure, although probably not interesting enough yet.
Copper prices are still in free fall and down another 2% this morning. Iron ore ditto and even coal off over 4% today. |
Starting to get mildly interesting. |
@tuvart Are you still being patient? I hope so. |
I would think using 2008 and then 2015 periods a good copper price guide…..these at their long run rate of 850 ish value. Mining will be in the toilet, hedge funds dumping miners and oil, that bump is gone and china demand a major problem. |
If inflation continues, it will ruin people. Employers have to compensate employees and adjust to probably lower profit margins. IMO markets have to correct drastically at some point because the only remedy to reduce inflation is interest rate rise. If interests rise, borrowing becomes more expensive leading to less investment, thus less output. All the ingredients are gathering for a long term bear market. This is even without adding the on-going Russia/Ukraine conflict with no end on sight. I am out for the remainder of 2022 until I see some visibility in what's going on. I have nothing to lose but a lot if I remain in such uncertain and volatile markets. |
Mining stocks suffered from nervousness around the growing number of strikes. Antofagasta (ANTO) was hit worst as it reported roadblocks to its Chilean copper mines.
Citywire.com |
Looking good! |
Muscletrade,
Yes I think I need to force myself to be more patient, don't think your ever see £10 again with ANTO, however of course only IMO. |
@ Tuvart
Everyone is entitled to their own view and I respect that. You’re trading might turn out to be the right way and I wish you luck. I have no skin in the game at the moment and prefer to wait until I see more value . Sub £10 is my target.if it doesn’t happen so be it. I have made the mistake of buying too soon too many times in the past and forcing myself to be more patient. Good luck |
Muscletrade,
I hear what your saying and tbh you may well be right but I'm very much a trader that believes in the daily RSI 14 so I'm going to be going by that, If I'm wrong I don't mind if in the near future you tell me "I told you so" ;-) |
Turvart
many are in the same boat
look on the bright side
take pleasure in the divis and be thankful you are not reliant on the cash for every day living
take care and keep safe |
Doing the same as you Turvart. Added another piece at 1175. Trying to average down. |
I picked some more up @ 1202 brings my average to 1480 still high but better than 1680 that it was before. |
Managed to pick a few at just below £12. |
Feb up move completely unwound...punters not hanging around if in profits... |
Looks like £12 could be hit soon. Hopefully it finds support. |
Copper prices down just over 9% in a month.Housing starts in the US and china falling =lower demand for copper etc so maybe not at real bargain levels yet. |
Antofagasta PLC on Wednesday warned that its 2022 copper production will be at the bottom end of the 660,000-690,000 metric tons guidance range.
The company's Los Pelambres operation has been affected by a leak in the concentrate pipeline this month. Antofagasta said repairs have started and the pipeline should resume by the end of June.
"During the shutdown the processing plant has been operating at lower rates of throughput, with concentrates being stockpiled at the plant. These will be transferred to the port between July and October using the spare capacity of the pipeline," the Chile-focused mining company said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
(END) Dow Jones Newswires
June 15, 2022 02:32 ET (06:32 GMT) |
Well those drilling results were a bit of good news, lets hope we see it in the sp |
Just look at the volume for a FTSE100 company...and not just here but volume has dried up across the board on lot of FTSE shares... |
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