UK Stockmarket 2009 and beyond

lvader

I sold my Gkp shares at just over £4 (from £1.70) and rebought some back at £2.70), I'm been close to rebuying more lately but I'm not sure the rout has finished yet. I think it could drop another 20-30% yet. Good day today though.

sabretoothtigger

Gone from 142 to 220 just now, with a 15% rise on no news in less then an hour ?

I'll hold a bit but its a little too bonkers for me, just nice to have a stock to cash in so quickly on

HOIL is suspended as they also do crazy stuff but in a different way, due to form a company twice its size now in Nigeria which has millions of barrels of oil stolen by bandits every year

CNR up about 50% from last thurs low
VGM up about 25%

Golds recent $50 rise and generally positive action makes for big waves on miners.
VGM would probably go bankrupt if gold went to 1000, which I still hear some say it will go much lower

1584 Im looking as a base to hold now

My choices on stockchallenge are abominable. My worst start ever.
Basically dynamite selections, all take over possibles. Cant really win with less,
I'll end the month better Im fairly sure

amictus

sabretoothtigger wrote: »

Golds recent $50 rise and generally positive action makes for big waves on miners.
VGM would probably go bankrupt if gold went to 1000, which I still hear some say it will go much lower

1584 Im looking as a base to hold now

Out of interest, how are you exposed to gold? From my point of view, for a medium-term holding, the best choice seems to be a reasonably-sized spread bet on gold futures with automatic rollover. I'm thinking of using this approach if the price drops again.

Also, any technical reason why for the 1584 entry point? Or is this an average position? Is it a "see how it goes" approach, or do you have a target exit price?

sabretoothtigger

1584 is an extrapolation of the 2011 highest prices as it came down from the peak.
Also we could point out how its pretty much a straight line from April 2011 to now. Holding above that level, retracting as if it were a tide mark seems illustrate its significance. So Im just looking for it to hold that line

Often if price dont go down when tested, it starts to build up speed and rise dramatically. Its kinda a snowball effect
Or very simple, we're repeating the xmas low which gave a good rise


Gold doesnt have a yield, quite a few miners pay as much as a savings account. I prefer that, also the miners are incredibly unpopular and like I said above gold has never lost its premium status of recent years

I dont suppose so but we might have 1600 for years now and a bet requires sharp movements or its expensive


[Daily candlesticks - like snakes and ladders. Its gone sideways, Im looking for it to have broken out maybe]

GKP I think needs a rest first ? I wasnt impressed by the news enough, vol was good though

amictus

Interesting stuff... thanks sabretoothtigger!

ses6jwg

I took out a spreadbet on HOIL recently, long @ 123p its a September spreadbet, what does it mean now the shares are suspended?

sabretoothtigger

The details are the company will form a new nigerian oil company with assets from shell.
That company will be twice the size of hoil now, the company fell so much its tiny even though they command alot of money and are owed like another 400m

Standard lent them the money, standard hold the 400m that is in limbo. Such a deal requires a vote and a prospectus and all that.
LSE says you cannot trade shares on a company that only exists in the future hence suspension.

Seems fine to me. The vote will pass as the ceo owns a 1/3 of the company


I would guess it'll trade before sept. They may need a right issue too, so Im not sure what the price does but the stop loss may need to be large to cope with the shock of this.
They are taking over a working business I think, they are only like 500 barrels a day production now.

Its a positive because he is putting cash to good use. Hoil sold its main assets and then hasnt done so much and the share price doesnt even reflect the cash and ignores the illiquid assets

Actual revenue, cashflow and maybe even a yield should bring reality back to share price so I expect it to be higher once dust clears. Im not certain if they make a profit in first year from this, might depend on the oil price. Hoil is mostly gas at present

coastline

Posted this chart before when it called a top in April /May...
Didn't check it since but it seems to have called a bottom also ..
Charts and indicators can come in handy...not everyones cup of tea though..

http://stockcharts.com/public/1092905/chartbook/236718654;

lvader

Over the last couple of days I sold off Sainsburys and BP for a relatively quick 10% profit. Looking for the market to drop before buying into something else. Still holding lots of other stocks.

Keeping an eye on PFD, GFS. CAD might be worth a punt below 20p

john0

CAD looks like it is in a pretty bad way at the minute and no-one knows what the hell is going to happen, seems a pretty risky punt?