Fresnillo Share Discussion Threads

[dmitribollokov] 18/11/2016 21:01

Nod to you for that disco dave. Fwiw i do think these go much higher longer term, was just saying what i saw; I'm not one of the schadenfreude gang. Will be getting finger near the trigger on monday, but am pretty much still all in cash atm.

All the best.

[discodave4] 18/11/2016 20:18

Fair play dimitribollokov.Will admit thought support at 1387 would hold but it didn't and it's gone through 50% fib, as a holder naturally hope that's it now!.DD

[dmitribollokov] 18/11/2016 19:31

That's the gap nearly filled, now for the overshoot into £11-handle territory. Horrible looking chart...

[arja] 18/11/2016 16:45

surprised to see FRES off so much today as gold prioe only dropped a bit . Obviously ,
it is the PARTLY Mexican effect as I mentioned recently. nice weekend all and I missOZ at this time of year !

[arja] 18/11/2016 15:36

why $1050 ? I do not read chart like that .

[deanroberthunt] 18/11/2016 10:44

looks like a double bottom on gold and silver....so $1050 Gold and $14 Silver....

[arja] 17/11/2016 19:05

gold down to 1212 after UK close and I imagine silver is falling too . So that 1200 chart support is near and might hit it tonight .

[dmitribollokov] 16/11/2016 19:55

£11-handle then review!

[arja] 16/11/2016 19:01

deoends on what the gold and silver price is then goldenshare !

[goldenshare888] 16/11/2016 18:53

I will back up the truck at £12!

[arja] 16/11/2016 16:27

maybe about £12 as worst case scenario as chart support at that level .

[wizard7] 16/11/2016 15:29

£20?

[pixi] 16/11/2016 13:14

£10?

[arja] 16/11/2016 12:03

Topicel- I read an article yesterday about it and his opinion was that the weak currency is a NET negative . Anywsy, as a chartist I just do what the chart tells me to do . FRES can move quickly at times and always one for a day trade .good luck

[asagi] 16/11/2016 11:09

I think that the shares could still halve from here.

Asagi (short FRES)

[stevenrevell] 16/11/2016 08:38

Catch this falling knife at the bottomand you will make money but where is the bottom ?

[topicel] 15/11/2016 09:16

We discussed this last week on here UKGeorge and yep, as you say the weak Mexican peso means lower costs to Fresnillo in wages and other local overheads as they are reporting in dollars.

Arja nows this but has decided to repeat the opposite for some reason...lol.

As you correctly say, this is PM price related fall, and largely due to Trump bets on stimulus and infrastructure spending which will make no impact on anything or anyone for months, or even years, as Goldman Sachs warned last night in their US and global analyses of what a Trump presidency means. And interesting Trump is appointing GS peeps to his cabinet...

After the euphoria of the different administration we will find a slow return to common sense and look at the economics and relevant figures and like with Brexit the whole thing will calm down. Bad data out of Germany this morning for instance and more bond buying again.

It was wisely described as a dose of chaos on the AG thread which gets my vote as the best possible explanation for the turmoil in the last few days. Ever thus.

Topicel

[ukgeorge] 14/11/2016 19:59

the weak peso is great for fresnillo. The silver price and gold price are what have driven this lower.

[arja] 14/11/2016 15:03

gold price getting close to $1200 chart support but, as I suspected earlier , I wonder if the weak Mexican currency has more negatives than positives for the share price - seem sit does ?

[dmitribollokov] 14/11/2016 14:53

Looks like it wants to

[deanroberthunt] 14/11/2016 14:50

back to $16?

[dmitribollokov] 14/11/2016 14:47

and it's going to go down further fairly quick path to $16.50 then $16.00 ...

[deanroberthunt] 14/11/2016 14:41

Silver lost $2 in a flash, manipulated or what!

[topicel] 14/11/2016 14:24

Indeed, gaps don't always get filled, especially if they are as a result of a special or unexpected event. A bit like we are seeing with the Trump euphoria.

For that is what it is, and just as night follows day the more sanguine will be slowly taking advantage as they brakes are being applied.

The gap referred to above from 1244 to 1364 was that other little 'event', Brexit. So if it is to be filled downwards then it is just as reasonable to suggest we should fill upwards after the Trump event.

All of this is about as scientific as the market moves we are seeing now. But needless to say it was a very special circumstance why that gap on June 24 was caused. Set stop losses here if you're worried would be my advice.

Topicel