Fresnillo Share Discussion Threads

[geofft] 12/11/2018 15:10

So much for 861/865 support level.

[hamhamham1] 12/11/2018 10:24

Cheers Huss.
I guess there will only be a weak dollar if everything is good in the world economy?
And you get a strong dollar when things go curly?
Makes sense.
I do not think that if you have a strong dollar then gold/silver prices have to go down, as both are a safety bid, whilst the dollar may get stronger first, I think precious metals will also start to be added into investors safety baskets.
And with the silver/gold ratio at a multi decade high of 85x, I am happy to sit on these.
I would be more worried if I was long on cyclical bull market stocks, relying on their past record rather than looking at their future performance.
To me, being in defensives and sitting on cash makes for an easier nights sleep at the moment. But what do I know, FRES is down today.
.... Taxi for Ham!

[hussyo] 12/11/2018 09:46

Hi, here is something I thought you might find interesting: Even Dollar Bears Are Wary of Betting Against Greenback Just Yet For the full story: https://uk.investing.com/news/forex-news/even-dollar-bears-are-wary-of-betting-against-greenback-just-yet-1376877 Download the Investing.com UK App for Android https://play.google.com/store/apps/details?id=com.fusionmedia.investing&hl=en_gb

[hussyo] 12/11/2018 09:42

What we're seeing at the moment is a reaction to a possible shock to the financial system in the form of a hard Brexit. In this scenario, $ is where safety lies, thanks to Fed sentiment. If an actual shock were to come to pass then Gold would benefit. In this second scenario, the Fed would have no choice but to turn doveish.

[hamhamham1] 12/11/2018 08:54

Erik. Yep and the daily close at 861p on 25th Sept is also a good support

[eriktherock] 12/11/2018 08:50

We should see support around 865p as I've posted a few times. Sure " around 865p" is a bit loose but support here is very bullish for target 1050ish.

[hamhamham1] 12/11/2018 06:48

Yep I agree. That's why I said I won't do any other new investments until post any major economic developments, at that point maybe a steady direction will be clearer? Markets are schizophrenic currently, either wanting to chase the bull which was a winner for the last 10 years or to hop on the bear for many other reasons.
Time will tell.

[ken tennis] 12/11/2018 06:32

HAM good morning, I fully understand your method of thinking and I will more than likely take a few FFES for a touch of insurance especially if we do see a downturn in the next few weeks but at present I’m not a buyer.
I got a bit too heavy before so needed to have a re-rack so to speak.
I really think the market is a guessing game at present so it could go either way.
Iff oil persists to fall I will more than likely take the opportunity to pick up a few in big oil either BP or RDSB for a long term hold as divi is pretty much guaranteed with these 2.
ATB Ken

[hamhamham1] 12/11/2018 06:06

Ken. I hear you.
But things like Brexit can push FRES up by 20%+ in a single day, as seen before in 2016. Plus, this time there are other similar potential turbulent situations which coild turn this share up rapid. Yes, if all these economic issues sort themselves out then no lift here but it only takes one (and then that could easily trigger another?)

[ken tennis] 12/11/2018 04:05

Gold Markets
All that glitters isn’t gold. With the Fed on track for a December rate hike and the dollar looks likely to hold a bid into year-end, the odds for Gold to test $1150 over the next few months seem more likely that a test of $ 1250. There is little to no haven appeal, and with the US leading indicators remaining robust suggesting the US services-based economy is firing on all cylinders suggesting the Fed will stay on track. The University of Michigan Survey and PPI came in above expectations, signalling consumer confidence remains strong. All that chatter about a Fed pause in 2019, is far too untimely suggesting that considering the economic growth slowdown around the globe, the USD should remain in good standing from growth differential perspective which could tarnish Gold appeal heading into year-end. Indeed, higher US interest rates and a stronger USD are flashing Red for Gold investors.

[ken tennis] 11/11/2018 08:36

HUSS Good Morning,
Yes I know what you mean bout GLEN Versus FRES.
My reason for watching GLEN is I am trying to get my core holding average down, I currently hold 16000 shares averaging 3.29 so if I can grab another 16000 at bout 3.00 or below I will be happy with an average around 3.14 then if GLEN REACH 3.14 I will sell half my holding and look elsewhere maybe back into FRES.
CEY looking interesting for next week it could drop to around 92p im looking at taking a few when RSI at around 36.on the 3 month chart.
I also have core holding in CEY.
ATB Ken

[hussyo] 11/11/2018 08:32

Perhaps, as in 2016, it will once again be Brexit (Bill fails, new GE called, the spectre of Corbyn) that propels this stock into the high teens...

[hamhamham1] 11/11/2018 08:12

My throw away prediction for the week....
Over 900p by close of play Tuesday.
(Driven up there by Italy budget and/or Brexit.)
But let's face it, I have been wrong once or twice before ;)
As always, time will tell.

[hussyo] 10/11/2018 20:41

Ken... Glen for Fres is a like-for-like; Fres is, in fact, more sensitive to dollar sentiment, so get it right and Fres is the better play.

[hamhamham1] 10/11/2018 19:09

Maybe government turmoil is close than we think.

[ken tennis] 10/11/2018 10:40

Huss yes quite agree with what you say around the low £8 mark I just want to see how the PMs stabilise also wher the USD is going.

This time I won’t be as heavy as before because of what FOMC are saying.
I got my eye on GLEN at the moment it keeps bouncing between 3.00 and 3.40 also Zero stamp.
Have a good weekend.
Ken

[hamhamham1] 10/11/2018 07:33

Interesting that Spain was over 3% spending deficit and the EU treats them different to Italy (they just wanna go 2.4% over).

[hussyo] 09/11/2018 18:43

16900 shares is quite a lot, Ken... I've got a third of that at an average of 8.13. My advice is to think about scaling in from the low 8s. Mid to late Dec and this will look very different, in my view.

[hussyo] 09/11/2018 18:21

I agree that she may not be able to pass ANY Brexit Bill through parliament

[hamhamham1] 09/11/2018 17:06

Let's face it, there is a very real chance of the government falling over the next few months.
May won't go for another peoples vote, it'll be election time. Again. Oh no, not another one! (said in a Bristol accent).

[hamhamham1] 09/11/2018 16:46

P0pper. JPM probably have an average buy per oz physical silver in the $18? region if they have been accumulating over the past 5+ years.
I guess they think it will go higher but also it's an offset against their legacy Bear Stearns ETF shorts probably. I heard somewhere once that when it goes over $18 it starts chafing a bit :)

[p0pper] 09/11/2018 16:31

What I can't understand is, if JPM have that much silver, physical, why do they not let it go? any one?

[hamhamham1] 09/11/2018 16:28

I think back over 900p by end of Tuesday if Italians resubmit the same budget increases to the EU.