Antofagasta Share Discussion Threads

[eddie88] 07/12/2007 13:00

BLIMEY, whats going on here not that I'm complaiing! :-)

[eddie88] 07/12/2007 09:40

I think it needs get pass the stubborn 790 resistant which has hit a few times lately.

[bushtuckaman] 06/12/2007 23:57

Well, just managed to get my orange broadband back up and running after it died 1hr before the close ffs. Thankfully no financial damage done.

In a way im glad it did lost connection because I may have been tempted to ditch these at close of play what with the double top. But looking at the dow this evening I should think we should be ok tmrw. Famous last words

[dsb104] 06/12/2007 16:03

I would agree with your chart. But i think it will range a bit, before the next move. So I'm out for now.

[eddie88] 06/12/2007 15:59

Despite the fall, the chart still indicates upward trend (in short term), so I am a bit torn which way to go about it!

[dsb104] 06/12/2007 15:42

I got out at 766p. Logically, the commodity prices were recovering, ftse went to 6580, and this didnt budge upwards. So I reckon we will get a fall, until all the froth disappears, then upwards. FOMC meets next week. A 25bps cut will cause a fall in mkts imo, as mkts will want 50bps cut (god help us) So i'd bide time for now.

[eddie88] 06/12/2007 15:32

I take you have sold yours before the drop at lunchtime, good trade if you did looking back you bought some 739p this week.
I must say the miners are looking a bit weak at the mo. Like Bush says it needs to finish above otherwise downward is forming (again)! What do you reckon?

[dsb104] 06/12/2007 15:18

I think the mkt has topped here. Buy the rumour, sell the fact mode. I am gonna wait for a price fall before topping up.

[eddie88] 06/12/2007 13:01

mmm, looks like the market cant decide which way to go.
I think the market was a little surprise of the cut IMO. I am still pretty confident it will finish blue.

[eddie88] 06/12/2007 11:37

A bit of dilemma here, the DOW futures are well ahead this morning suggesting keep hold. Could this change after 12pm or will US ignore what BOE do?

[bushtuckaman] 06/12/2007 10:49

Looking at the chart we could do with finishing positive or else a double top will form

[bushtuckaman] 06/12/2007 08:50

Yep, I'm considering it myself. Flip of a coin really

[eddie88] 06/12/2007 07:14

Bush I may lock in my profits this morning and see what happens after 12pm. Personally I dont see the bank giving in to the pressure from media. Afterall they did say that the house prices were too high which has only just started to fall slightly.

Unfortunately I am quite surprise that the rise hasn't really happened this morning as I expected! Watching very closely today..

[bushtuckaman] 05/12/2007 23:32

Sorry Eddie, looks like you have been chatting to yourself all day. First sign of madness they say :)

I liked this bit in the piece you posted earlier.

'A bullish report from Barclays lifted sentiment towards the red metal in Asian trade overnight. The bank said it sees copper prices rising to a record next year on dwindling supply and increasing consumption in Asia.'

Bodes well for longer term holders. Would like to think 800p will be smashed tmrw but all depends on the interest rate decision. I'm sitting on 8% since a week monday so I cant gumble. I may let this shorterm trade run for a bit.

BLT and AAL were my ones that really motored today, must remember not to be too greedy an lose the lot.

[eddie88] 05/12/2007 17:39

Looked good today....
I am looking forward to break 800p barrier tomorrow.

[eddie88] 05/12/2007 12:58

LONDON (Thomson Financial) - Copper edged up in early trade after a positive session in Asia, supported by a firmer opening on the major European bourses and strength in other commodities.

However, gains are likely to be capped by ongoing fears over the health of the global economy, analysts said.

A bullish report from Barclays lifted sentiment towards the red metal in Asian trade overnight. The bank said it sees copper prices rising to a record next year on dwindling supply and increasing consumption in Asia.

While this buying interest has spilled over into London trade this morning, analysts say fears that the slowing US economy will knock demand for the metal are continuing to cap gains.

'The market is still very gloomy about the weight of sub-prime issues and the credit-crunch that is following in its wake,' said William Adams, an analyst at BaseMetals.com.

At 10.33 am, LME copper for three-month delivery was trading at 6,734 usd per tonne against 6,695 usd at the close yesterday.

Base metals have sold off heavily over the past two sessions, as fears in the broader economy dealt a blow to investor sentiment.

With the exception of copper, all other metals are down again today. With overnight interbank lending rates running at nine-year highs, and as funds continue pulling money out of commodities as they flee risky investments, the overall outlook remains gloomy in the short-term.

Lower demand that expected in the fourth quarter has also kept a lid on prices, with copper - often seen as a bellwether for the rest of the complex - showing large gains in LME monitored stockpiles.

In today's report from the LME, copper stockpiles grew by another 600 tonnes to stand at 188,775 tonnes, continuing the trend of recent weeks. Aluminium and lead also saw stockpiles increase significantly.

Later today, all eyes will be on economic data emerging from the US, including October factory orders, the November ISM service index and third-quarter productivity, for signs as to the future direction of trade.

Among other metals, nickel eased to 25,625 usd per tonne, basis three months, from 26,695 usd, while aluminium was down slightly at 2,460 usd per tonne from 2,467 usd. Zinc dipped to 2,405 usd per tonne from 2,430 usd and lead to 2,840 usd per tonne from 2,885 usd.

Finally, three-month tin dropped to 16,600 from 16,850 usd per tonne.

[eddie88] 04/12/2007 22:30

Sorry to go of topic guys. Its just a bit of moan from me.

[eddie88] 04/12/2007 22:29

Just seen the BBC news scare tactic again stating that 1.4m of us are going to struggle when the fixed rate ends next year. Oh come on its hardly a big number is it! What is surprising there is no mentioned anybody struggling now at a higher rate. So how it does not balance out the agruments.
Its all poitics for BOE pressure. Look at the timing of it, the day before announcement

[dsb104] 04/12/2007 17:05

My thoughts too Eddie, if not the FOMC the next week should boost.

[eddie88] 04/12/2007 16:59

Astol are you shorting this? Good luck if you are.
I'm hoping for a recovery after the BOE decision at 12pm tomorrow

[dsb104] 04/12/2007 16:50

Thats no guarantee. It might be 660p in a week or 850p, you never know. I'm bought a pullback from the recent high, and relatively happy with my price.

[astol] 04/12/2007 16:28

Why go long at 739p when 2 moro you can prob go long at 719p

[dsb104] 04/12/2007 16:26

Went long again at 739p. Fingers crossed.

[bushtuckaman] 04/12/2007 11:17

Denial lol. I'm a little surprised the big miners aren't getting better support today with the comments of a rival bid for rio may come in. Still holding sadly.
Just gonna go beat myself up some more for not selling my ANTO AAL BHP and KAZ on friday.