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Russ
Super Contributor
Only 3 comments on this forum today by 2pm. Must be a new record.
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13 REPLIES 13
Preston
Super Contributor
@Russ,Stock market is not very exciting at the moment.
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THRESHOLD
Super Contributor
Sold out of all of my resources except for LON and started buying back IMP today. I am afraid of the more general stuff - KIO, AGL etc. and I assume everyone feels this way. Too low to short, too early to go long in any meaningful way. So - just watching... silently
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Preston
Super Contributor
I am watching Aspen very closely. It is building up energy for a upward movement.(omo)
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BullsnBears
Contributor
Hi THRESHOLD I'm interested in why you sold out of the diversified miners but hold on to trash like LON. A company whose days are surely numbered as a going concern?
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The_Trader
Frequent Contributor
Cash is king, but not very exciting.
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THRESHOLD
Super Contributor
At this point, don't kid yourself, they are all "trash." At least with LON you don't kid yourself. LON is undervalued on a sector relative basis. LON has precious metal exposure and that is what the market may come for. If general commodities take off - she will go along for the ride. I have disposed of 40% of my LON at these levels - which means the rest are almost free; AND last but not least because LON has made me a chunk of change and looks set to break higher. If PT moves up - so will LONMIN.
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BullsnBears
Contributor
You almost convinced me. That does make alot of sense. Could be worth a punt for a small trade.
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partridge
Super Contributor
I see the "brigands" Blackrock and Goldman Sachs have bought into AGL - which while technically insolvent has gained their attention.... THOSE
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THRESHOLD
Super Contributor
They were clearing positions a year ago. Why technically insolvent? Her assets exceed her liabilities fairly stated, she has the reasonable expectation that she will continue in business and is generating (or reasonably expects to generate) the cash to meet her liabilities as they fall due... surely!?
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THRESHOLD
Super Contributor
Now we (I) need to hope that PLATINUM gaps up to $1030-1050.Through that and we could be eyeing $1200.So selling the rest and keeping the "junk" LONMIN and buying back IMPALA at R32ish is starting to look like a less insane call....
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THRESHOLD
Super Contributor
Unfortunately I only have two thumbs to hold...
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THRESHOLD
Super Contributor
Did you buy this stock in the end?
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BullsnBears
Contributor
No I haven't. Still contemplating a short term trade.
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