Golden Prospect Precious... Share Discussion Threads

[brucie5] 01/8/2016 09:44

Yes. This is really one to hold onto. It could be a little like buying a house in 1996. The only thing is, as the pms chase higher, there will be still higher beta stocks within the sector. This was the case during the .com boom, when you could either buy an IT trust for %50-100 gains, or highly spurious little outfits to pay off your mortgage in a month. No doubt there will be quite a few of those appearing. I was lucky enough to buy HOC under £1 earlier in the year, but foolish enough to take profits, then buy back, then trim back my holdings yet again. I'm not going to be touching it again, I suspect. Fortunately, the spread and available market size on GPM makes it rather difficult to trade effectively.

All that said, the market is in some areas looking quite bullish atm, so there is no shortage of interesting stories, including the tech sector, where perhaps things were oversold. My guess is that in an environment of low growth and currency depreciation, technology, where it can be genuinely disruptive, and pms offer a decent hedge. PMs increasingly, of course, looking profitable as pos/pog rises inexorably, and that will surely have a leveraging effect.

[stevieweebie2] 01/8/2016 09:20

Lovely continuation of trend.........

[hectorp] 01/8/2016 09:18

Posted by me on 7th May on this thread:
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Yes, I can see gold testing that old resistance in the $1330's very soon.

there will be no june rate hike - and by end of the next quarter even fewer New Non Farm jobs in the reports.

Golden Prospect - fair name, IMO.
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and so this is all proving.

[bamboo2] 29/7/2016 16:13

Bought a load back at 46.40. Showing as sells. Is the actual spread a bit tighter today?

[dogberry202000] 29/7/2016 15:56

Looks like US pm stocks may be waiting for London to close before running through HUI 272-3. Once through there a major move can then take place in August and September. I've adapted my target for GPM to late September.

[brucie5] 28/7/2016 17:30

54.44.

bamboo, I would personally have waited till the top of the step if I wanted to trade this. I make that somewhere above the 50p level. In this market it will always becomes overbought before profit takers move in.

[bamboo2] 28/7/2016 16:43

I sold again! I guess the profit since late last week was too hard to resist.

[anthony16731] 28/7/2016 10:26

The discount to NAV will get ridiculous here in the next few sessions. Klondex was up 7% last night in the last hour off the rising metal prices.

[dilbert dogbreadth] 28/7/2016 09:54

that rsi in the chart above looks a good buy signal below 30 doesn't it.

[davebowler] 28/7/2016 09:47

And we're off again.

[dilbert dogbreadth] 27/7/2016 20:11

Bumper day tomoz. Maybe 50p

[dilbert dogbreadth] 27/7/2016 16:45

marc faber as well

[davebowler] 27/7/2016 16:32

Mention of Gold Miners by a star fund manager-

[mad foetus] 27/7/2016 14:59

I don't disagree Brucie. There are lots of reasons for buying this: I was just pointing out that you don't need to be particularly bullish on gold to do so - it makes sense purely as a leveraged diversifier. There are huge uncertainties in the world and markets at the moment and I think anyone putting all their eggs into any one basket is taking a risk. But although GPM has had a strong year, gold is still 30% below its peak, miner's costs are much lower than before and the discount is wide.

[brucie5] 27/7/2016 14:53

mad foetus 27 Jul'16 - 14:49 - 316 of 316 0 0

This just looks to me like a very good insurance holding/portfolio diversifier.
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Well, you may be right. But equally you may be aware that over the last six months we have seen the nadir of the pm cycle. The move back up way well be for several years, and surpass previous highs. Way to go.

[mad foetus] 27/7/2016 14:49

This just looks to me like a very good insurance holding/portfolio diversifier. At the moment it makes sense to have at least a 5-10% allocation to gold and the discount here plus the leveraged nature of miners mean that if the market has a major wobble, a 10% holding here may well more than cover the falls in the other 90% of your portfolio.

[anthony16731] 27/7/2016 14:45

Load up & wait. Load up.

[dilbert dogbreadth] 27/7/2016 14:42

time to play catchup

[brucie5] 26/7/2016 20:59

So long as the bull market persists, its seldom wrong to regard each retrace as a buying opportunity, even if you choose to trade a bit at the top of each echelon. This is a difficult one to trade though, on account of the spread and number you can sell easily. 80 would be nice for September, given my last buy price was 19.50 in January.

[dogberry202000] 26/7/2016 15:40

Added at slightly higher levels because I didn't want to miss the train and twice again today. Don't really expect any real movement until after options expire tomorrow on the New York exchanges. GPM is a gift at this price. My early September target remains just above 80p. But then again, who really knows.

[brucie5] 26/7/2016 14:54

I'm kind of assuming this is the bottom of the current tread in the up staircase. Next high should be c. 30% higher, at around 54/55p?