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Tony,
We all know by now it's not unusual for Centamin price to pull back on a Friday afternoon and many with be closing their CFD positions for the weekend to avoid any risk of a Monday morning gap down.
It looks though central bank demand. will be strong in 2024 as heightened geopolitical tensions will put pressure on the U.S. dollar as the world’s reserve currency, thus making gold an attractive monetary metal!
http://tinyurl.com/mpmmhtuj
So without any news to the contrary and if all goes as Martin Horgan has indicated then 2024 looks as though it should be a much better year in many respects for Centamin shareholders!
"Amen" to that last bit Mr T.
A bit of good news, cheer and all that would lift our spirits a bit------------Along with the share price and dividend.
Mr T- it's data that causes any pullback or rise!
It's got nothing to so with "it always happens on a Friday"!
DATA DATA DATA!!!
I've been saying this for so many years, with so many years of proof...
Dropping out at 98 the other day and going back in at mid 93 today- so proved again... not that I need to prove yet again that DATA rules....
SteveJones999,
Do you have targets for Gold and CEY ?
No, targets are irrelevant to me.
I just play the data, and trade accordingly.
In high risk areas, like here, I typically S/L on 2%- as I've posted here before, for my T/P I do sometimes let it run, but have been caught out here.
Good luck in whatever you do.
You are entitled to your opinion Steve, I'm not saying that the the data gathered and released or reactions to news on government/central bank policies and world events aren't important or relevant, to share price monuments , albeit unreliable or massaged/manipulated at times , especially to CFD traders on leverage, but most long term Centamin shareholders know that Centamin more often than not takes a knock on a Friday, its just the way it is.
Why do so many CFD traders close out on Fridays, its because over the week end when most people cant trade s a great time for market sensitive news to be released prior to the Monday morning open.
I'm ever more confident that Centamin should do OK this next quarter and improve steadily from now on.
I'm suppressed anyone can be bothered messing around with 2% stop losses,this seems pretty pointless. a waste of time and also costly when considering the in and out trading fee's each time, they must mount up?
Tibbs next qtr is a long way off and what I am hoping is that back end of next week when Horgan attends Saudi Mining Forum we hear something positive about last qtr results.
Steve as a trader I fully understand your response to data being important as all businesses rely on market data and having the ability to respond, some do some don't difference between success and failure.
An investor or a business owner looking long term there must be an understanding of the company fundamentals so what impact on your decisions as a trader does company data have?
The reason I ask is that Centamin as an example has given in my experience and understanding of mining provided some strong positive data during the year but there has been very little positive reaction from the market, even when this is coupled with an improving gold price.
Also the data surrounding Centamin is much the same as that surrounding other mining companies example yesterday Barrick up and Centamin down.
Sorry if I sound naive but I am not a trader albeit my investments haven't done bad but can always do better.
Thank you Dasut for your thought on these issues, greatly appreciated!
Hi Dasut,
I take your points about the positive updates/data on progress being made at Sukari and the reported changes of corporate policy in other area's of the business, it must be quite conundrum for the majority of traders who usually can assume assume that such data will result in a reaction of a predictable magnitude in the company stock price of the company.
But as long term holders have come to understand Centamin has always been a contrarian stock even at the best of times, but that is ever more so after the severe loss of marker confidence as a result of the forced admissions by the company and the subsequent huge cost of what may be regarded as almost a Go back to start of Sukari operations with a change of tack in relation to all external projects !
So in this situation its very much a case of we are where we until there is some proof in the pudding that being the actual delivery of the promised results!
That's because, Mr Tibbles, you fail to understand, despite years of comments from me and others, the simple basics of the markets and trading. No idea why you mean "in and out trading fees" you refer to are, you need to get into the internet world. For example, my trades cost £6 per trade, irrespective of volume. It's possible to get cheaper but this amount is tiny and the platform is extremely quick.
As I've said many times, yet clearly you have a basic comprehension problem, I trade around £100k at a time.
So for example 7 trades for a total of approx £100,000 cost £42, and 2% profit on £100,000 is £2,000 so the gain on a 2% day is £1,958.
The other day I posted that I exited at 98, when my stop loss cut in, which was put there for my normal reasons.
Had I not put in my STOP LOSS and let it run, I wouldn't have exited at 98%, I've had lost a further 4.64% which I avoided by my stop loss which equated around £4,640 for me. I bought back in at 93.45, all posted on this board so effectively avoided a £4,640 hit and made as the stock then rose to 95.25.
So if you think you think is all “pointless” you need to look at yourself.
Over the years I've consistently done this.
I don't win all the time, but way more than I lose, so this is key- my strategy (for the umpteenth time is data ased). I have posted before here when I've not got it right also.
Mr Tibbles, you can moan about CEY all day long as you do constantly, if you put anywhere near the same effort into understanding, the markets, equity drivers, and so on, you may make some money.
On your CFD trader point (and I doubt if you’ve ever been one), they work both ways, and if was as simply as "most make a loss of Friday" why don't most flip from long to short? It's just not as simple as you purport.
Dasut- the problem with company data, unless its an actual RESULT in an RNS it generally does little to the SP (apart from a takeover rumour or mine issue- both have happened before). Some here post constantly incredibly detailed mining info, which I learned a few years ago is utterly pointless if decision making for SP moves. I play the odds game and normally am out of this stock the night before a scheduled RNS, although sometimes am in if I believe the company predictions based on what I know. I hope this helps…
Steve,
You seem to feel the need resort to making such wrong and unsubstantiated assumptions and resorting to personally rude and unjustified spiteful comments about some other members who may want to use the forum for giving or exchanging views and information about Centamin and the mining industry over the long term.
I would suggest the you are on the wrong forum,I should have thought that T2W would be far more useful to you and you could engage with others of a like mind as your primary interest from your post's appear to be in trading in and out rather than investing in a mining stock
Your assumptions as to my knowledge of CFD trading are are incorrect to say the least, it is in my view little more than any form of gambling that is studying form with prevailing conditions and betting on the odds which usually involves involves high levels of leverage admittedly usually interest free if the position is opened and closed with the same trading period, this is one of the reasons that so many traders are in and out in such short periods, especially at week ends, although this can contribute to panic and to share price instability due to wrong assumptions about a particular stock.
As a long term investor in Centamin I have every right to express my views and indeed do so including questioning the company directly and seeking information and sharing it with potential and new investors as informed as possible
Your statement that you learned all you need to know about mining a few years ago seems rather arrogant as knowledge of any industry, especially one like mining with so many different facets is gained over many years and can never be regarded as finished, it is always work in progress and ongoing.
As Centamin investor I am grateful for all the detailed information contributed by other members on a range of subjects to the forum, especially from former mining industry professionals some of whom have in depth understanding of the development of the Sukari operation and also new recourse explorations and development
The majority of CFD retail traders lose!
The FCA estimates 80 per cent of customers lose money on CFDs. Regulators first cracked down on the sale and marketing of products to retail clients three years ago.
CFDs regularly target inexperienced consumers, which is evidenced by the fact that the FCA review found that the majority (76%) of retail customers lost money and in an earlier review found the average losses totalled £2,200 per person. Worryingly in several instances, pension funds have been invested in CFDs based on the bad advice of marketing companies or financial adviser
https://lexlaw.co.uk/solicitors-london/mis-selling-complex-financial-derivatives-structured-products-fca-review-cfd/
https://www.fca.org.uk/firms/contract-for-differences
I read the first paragraph of your post Mr Tibbles as it’s as pointless as always, so stopped reading.
You don’t own this forum.
You continue to post pointless waffle.
Stop cluttering up this board with your pointless, spiteful posts.
I suggest to go to another forum where your constant pointless waffle is more likely to be appreciated.
Steve,
I am certainly not aware of ever claiming ownership of any forum, I have always thought this forum was owned by the host that being the LSE.
Waffling and being spiteful, I am no wish or profess to intentionally practice either.
You will likely be posting later to update those who are interested on how your days trading strategy panned out.
Have a lovely day!
Usual passive aggressive nonsense from Mr T- some things never change…
Steve,
Renumber that forum T2W, you will enjoy it I'm sure, your wasted here !
Yawn, more passive aggression from Mr T.
One day he'll surprise all on this forum, and post something of relevance instead of his usual, out of date, copy and paste waffle, and insults.
Well Steve if you had been a forum member for a few years longer then you would have been aware of all the information I posted that wasn't available in the mainstream media during the difficult times of political revolution and during the court case disput.
But then those of us that were able through staying strong and buying in at less than absolutely bottom of the bargain bucket prices are still way in profit now and we have had the benefit of all the big bonus dividend and all dividends since which is why we don't feel the urge to scratch around now chasing the share up and down for a few pence likely on leveraged CFD's.
You see what ever information is offered and given in good faith there is always the chance that unforeseen events can occur or even that some people have been less than honest about the true state of affairs.
I was criticised in the past for being too upbeat about Centamin after the information given to me by a well meaning and reliable source didn't work out because they themselves had been misled, so n view of this I felt it better not to risk building peoples expectations up and instead encourage them to expect less , in which case anything better is a bonus!
You criticise me for cutting and pasting, but that has it;s place in sharing information and educating people about important topics , I doubt very much that you never do research which in turn likely involves consulting very many cut and paste publications, even the data will have been cut a pasted and no doubt changed many times over
Bu contrast you post little or nothing about Centamin the company, general mining or other related issues, but instead waffle on about your trading prowess which is incidently is likely just wishful thinking whilst your your repeated statements, information and opinions are boring,and quite useless to the majority of investors who are in for the long term.
Have a nice day.
Yawn Mr T.
I gave up the first few lines of your first paragraph- didn't bother with the rest as I know there will nothing relevant, just more attempts at self justification and deflection.
All pointless really.
Steve, in general your contributions fall into three categories; put-downs, self-congratulatory or so-general-as-to-weigh-less-than-a-feather!
Yawn Mr Tibbles, same old drivel, same old cut and pastes, same old insults- break a habit of a lifetime and post some useful- but that would take a level of intelligence that you sadly lack
Why don’t you post in the RNS that has just come out? Not that your view holds any weight- quite the opposite.
Encouraging RNS and news from Eygpt, although distribution does involve some cutting ,translating and pasting!
But that said it's all more informative than the same old diatribe of insults and boasting that you usually post!
Have lovely day's trading,, or take a break and go golfing!
Your old mate
Tibbs!
Mt Tibbles,
Your lack of intellect is only superseded by your lack of IQ.
Again, yet another cut and paste, of old, old info, that most here (like me) will have already read, digested and taken a view on.
And yet again, you provide zero input other than cut and paste.
My view was so what... the rev is estimated, the 450k is planned so nothing outside of what is already known from other sources. Hence the SP failed 2 move a couple of weeks ago on any of this.
You really are a little wally- kind of funny though.
"tibbles" - meaning: "Tibbles are data frames that are lazy and surly: they do less (i.e. they don't change variable names or types, and don't do partial matching) and complain more (e.g. when a variable does not exist)"
Kind of apt!
Enjoy your day.