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Of course it's easy to forget these AU PRICES, are based on paper prices.
It likely, lot this is being off loaded to traders ,who think they are in for a quick profit.
They will be in for a nasty surprise.
There is really only physical prices, for coin or bullion ,that matter.
This off loading will continue now.
IMO.
Maybe u got a point to ponder , but u mentioning crypto Dogecoin mmm not for me atm. Prefer Vechain ( VET ) as it's got a solid strategy in the new world of blockchain as well as ADA and Ether.
At the end of the day with the current good governance CEY will perform +++ in the next 2 yrs. Gold will IMHO also move up , which will be good for us at CEY .
And to all CEY holders .... as always, DYOR ,
Have a happy and great trading July,
Cheers,
Old Buck Jones ;-))
I am not invested here...just to clarify things.
My is just a general comment on the sector, I see a lot of inverse correlation between the dollar and the main indexes.
Meaning that when the indexes go up is risk on and when the dollar does up indexes go down and is risk off. The question is where gold fits in this relationship. Historically it was very much inversely correlated to the $ but more recently imo it lost this rapport and is now in the limbo, exacerbated by the event of cryptocurrency. All this to say that today even more than anytime if investing in gold sector imo is paramount to look at the single companies fundamentals, including geopolitical risk, cost of production and diversification of assets.
I have been a long time holder here and though sold quite a few in the 1.20s have bought them all back at 1.06 and today at 1.03.They say you should never fall in love with a share but afraid to say I have done with Cey.As an aside I worked in the motor trade for many years until recently semi retired and all the manufacturers offered additional discounts for taking the finance as you were then seen as a captive customer who would be easier to resell to in a couple of years. What switched on customers used to do is withdraw from the finance agreement within the first 14 days so they still kept the same deal but paid it off. Just thought it might be useful to anyone on this board.Any news on when we might here about Cey gaining more licences in Egypt as surely that would help the sp?
Hi Red,
Glad you are looking after the Blackbirds, although the Magpie's in many ways remind of those that manipulate the markets!
Don't take this the wrong way, but when you think about it all these charts and trading programs/predictions are based around artificially suppressed prices and manipulated markets of the past.
How can a gold chart be relied upon as being accurate when it isn't really an indication of the true or fair value of gold ,but an indication of the exchange some physical bullion and the majority being of paper gold contacts traded in the past?
Just like paper dollars the supply of paper contracts its seems s is limitless,where as in comparison the supply of gold bullion is limited by its physical availability!
I wonder how many shoppers would be content if their 2.5kg bag of potatoes was made up of 1kg real potatoes and 1.5kg paper potatoes, or when they shop on line if instead of receiving a 4kg chicken 2 kg was real chicken and the other 2kg was a paper contract, this difference of course wouldn't be reflected in the charts of potato or chicken sales !
Mr Tribbles, LOL. Mr Troubles more like.
Actually, Mr Tibbles, you haven't been speaking to one of my sisters, have you? Her philosophy is that if you go to your grave with a balance sheet in the black, you're a mug.
Fantastic post...loved it
I went to a Lexus Main Dealership the other day..They stated that the deal would be better if it was a finance deal as opposed to cash...
Cash is not king right now.
The worlds gone mad IMO
Hi Paul,
Good to hear from you again,
Don't get to disillusioned, difficult at times I know , but don't forget one can be whomever they desire to be on here and indeed claim great trading prowess and the success of getting in and out at just the right time!
But hindsight is a great thing, in reality if some were as successful as they claim to be then wouldn't they have been sailing off into the sunset by now, rather than attempting to portray themselves as market guru's on here?
In the end all the chart's and algorithmic trading programmers are as dependable as a chocolate teapot, in fact the best use for the charts would be stuffed down the trousers of some poor old down and out sleeping rough in the doorways of the City, at least that would keep somebody warm!
For those of us that are genuine admit that we have been taken for granted in the past by a lazy complacent manegment team nice and comfy in their Jersey board room and that our trousers were taken down by the past deceptions and professional ineptness of Andrew Pardey and the former Egyptian policeman that due to family nepotism and rather than professional aptitude was appointed general manager of Sukari!
Market experts aside, it is apparent to anyone who is honest enough to admit it that the market's indeed the worlds financials systems now so corrupt and blatantly manipulated to such an extents that that they no longer abide by any regulation, or indeed conform to any what may be cliamed as logical movement or behavior, they are simply and openly manipulated which ever way the Cartel wants them to go!
We are powerless and certainly now any right or wrong decision we might make is down to the sheer luck of the spin of the corrupt casinos wheel or the throw of the weighted dice!
Yes, Tony, that's very likely too. I keep coming back to gold's 'correction' in £ terms from the August high last year. It's a perfect ABC move. Since the bottom, the first leg could be over or this is a 4th wave before the final 5th wave higher and then another 3 waves down - for wave 2 and then a large 3rd wave up.
https://www.bullionbypost.co.uk/gold-price/5-year-gold-price-chart/
The worry is that I think tech stocks could be about to reach escape velocity and go vertically upwards. Once that crashes, does it bring everything else down? At the moment, I'm looking at a 3 waves move upwards for the $US from its recent low, with a corresponding 3 waves down for gold - maybe reaches $1700 after a nice climb up from here?
Having said all that, I've just had to shoo 6 magpies off my damson tree - they were upsetting the blackbirds. I believe it's 6 for gold? (Magpie TV programme from 70s). That may be a better indicator of what gold will do in the near term!
Hi Mr Gnome,
Strange isn't it how attitudes to debt have changed over the years, most likely I’m not the only member on here to have been brought up in the belief it was sensible and right to divest one's self of the yoke of debt, mortgage, HP payments as soon as possible, and to pay off any credit cards debt before any interest was accruing , so as to use the cards to your own advantage rather than paying exorbitant interest rates to the charlatans that own the credit card companies.
I just can't understand how credit card companies can be getting away with charging 19%-37% interest rates and on some reward cards even an annual fee o £25-£45 to their clients when the credit card companies are borrowing our money at 0.5% or less!
Credit card companies are no better than loan sharks, they should be jailed in my opinion, not tolerated, making a reasonable profit is to be expected, however what they practice is legalised extortion and exploitation!
Once upon a time the ambition was to gain freedom of any hold that those that you owed money to held over you, a way to gain your true freedom, to be able to say I am not in debt to anyone!
But now the attitude to ongoing debt is quite different, so many people’s ambition is to be able to proudly flash an ever higher Experian credit rating around on their overpriced and on credit Smartphone!
They fail to see anything wrong with acquiring ever more debt just as long as they keep moving up the overpriced housing ladder by changing from one mortgage to another and by surrounding themselves ever more of the latest tech stuff or poorly made overpriced stuff that they desire rather than actually need!
To keep the car industry going governments encourage the gullible masses to scrap perfectly good cars with years of wear left in them in exchange for poorly built newer models with built in obsolescence by means of what they fail to see are overpriced personal lease or rental schemes at the end of which they own nothing!
The ambition was to be debt free in case there were unexpected interest rate rises, now it seems that is no longer a concern for today’s indebted masses, as they feel secure in belief that governments are unable to raise interest rates for fear of bringing about a financial crisis and their own political downfall!
Future reduction in costs of production at Sukari and the possibility of another takeover bid at these levels, couldn't not. GLA
I do hope that i am wrong, and those suggesting a low at £1are correct.I remember from before i had 97p as a possible.
80p ?,well yes if 97p doesn't hold then yes it's possible.
I thought we had bottomed at 101 ?,but the chart failed after 121p,(i can't see a 5 wave up),which means the move was a corrective one,not an upward one.
That's as far as my interpretation goes.So i'm negative at the mo.A sit and wait as far as i can see.For me and all the Bulls out there i do hope i am wrong,as i am invested further up the line and need a recovery myself.But i have to say what i see,and i am very pessimistic at what i am seeing.We shall see.
Redsparrow
The other possibility is for gold to put in a higher low just above 1762 either today or tomorrow. I suspect heavy Chinese buying of gold on Thursday when a new monthly trading book opens up in Shanghai and we start H2. I could be wrong, but will at least know for sure in a few days.
The price action for the $US doesn't suggest to me that it is about to have a huge rise at the moment, which would make gold sink below the recent lows. We may get a short dip in gold, to $1750 ish perhaps? and then a decent bounce at least to $1820s. Silver isn't suggesting it's about to sink either, so I reckon the spivs are getting ready to load up on miners, for the short term as a minimum. Centamin a buy at £1, maybe? Unemployment figures for the US on Friday could be the catalyst for a rise. A bloodbath phase for mining stocks is being manufactured here, I think.
Basil Fawlty - don't mention the Germans.
Isn't that Dogecoin becoming Tier 1?
Basel 3 looking like Basil Fawlty ,at the moment.
GLA.
I like your analogy Paul ,ha ha a leaf and getting rid of inflation.
Very funny.
Could be a game changer.!!!!!!!
Yes Mr Bond. It is looking like that. Hopefully things will change soon. I read the board and have done for years. I remember "making hay" seeming to trade very well but then missed th rise from aroung the mid 50's all the way up over £2. (Wish Id sold a pile then and kept my nerve to get back at these prices).
Andrew Maguire has been banging on for years and hopefully he will be proved right soon! Kinesis doesnt seem to have made much difference either.
I wish had the money that some on here do to "Top up" every time the share drops and the foresight to sell when i have "made a nice little profit" .
I remember D. Ryan a few months back (who i think did get in and out quickly with a profit) saying then that he expected £1.30 in the short term, from the price then of around £1.10.
And who can forget Sotolo's call last year , around this time of reaching £3 soon??? :-)
Hopefully the current call will be as wrong and we will get the rise.
The amounts of debt are mind blowing and you would think at some point gold will take off? Maybe , a bit like in the Hitchhikers guide to the galaxy , we will adopt the leaf as currency and burn forests to stop inflation? I HOPE NOT!!
So Basel 3 will bring sweeping changes ?
Looks like LBMA are sticking two fingers in the air, whilst blowing a Raspberry.
lol.
Hi Adrian77,
Did you keep the £20k you bought at 106+, where did you put your stop loss ?
Sotolo - Dang I would be annoyed by a drop to 80p, but that does seem extreme in my admittedly limited experience (I appreciate the graph does show that has happened!), I guess we shall have to wait and see!
I switched out of CEY two weeks ago, when I was scrambling for cash to top up on HUM. It's not a move I regret, but looking at CEY now, I think I'm going to have to find the cash to rejoin the party. At anywhere around 100 it's looking too cheap.
Added as well.