SGL

[RiskitBiscuit]

Sibanye gold Bulling its way through its listing price!

[#2]

Yep - just exited my position. A hard rule of mine - exit on a big move up

[manere_fortis]

Yep, skaap, you prob right. I exited half, will trail stop on remainder. $1290 critical level for gold? Above that it could get fresh legs.

[manere_fortis]

SGL has run very hard now. Exited at R19.56. Still want gold mine exposure in short term so swopped to GFI on upward break thru 12m resistance

[barry_1]

SGLSBF has increased in price by 55% since 31 Jan 2014....I intend selling on the 18 Feb, two days before declaration....Also keeping a trailing stop-loss of 9% in place in case of early reversal.

[#6]

eish - hate it when a plan doesn't come together. An additional 5% gain would have been nice. Still, a plan is a plan and I am out

[manere_fortis]

Has gold turned negative in short term? Exited GFI long early today.

[#8]

well, something has to give - either gold or the indices. Because the first is traditionally a hedge against the latter. So when your hedge is running, and the market is running - there is a bit of a disconnect - innit? I am not a gold pundit at all - but as a trader, if I had to guess where my next big 50% return is going to come from, I think SGL is as likely as anything. Still a low PE, operational improvements (yes - from a gold miner nogal!) and a rising gold price. So an uptick in gold will result in an exponential increase in profit for SGL. For the first time in my trading history - I am actually bullish on gold miners (although a pullback is probably on the cards).

[Preston]

....But i thought you are out of this market?

[#10]

haven't taken a position yet - I am out until 1 march. Need to book my profits - tax reasons

[manere_fortis]

Well expressed, Skaap

[prancing_horse]

@ Skaap, When you say you out, are you referring to geared instruments eg CFDs, SSF etc in other words you trading portfolio? Would be interesting to know why.

[#13]

yes. My investment holdings are still in tact. I have closed out all my geared positions to book revenue for my year end. It is for tax reasons mainly so as to avoid SARS viewing my consulting income as self employed rather than as a company. I also want to avoid VAT registration - since I am rather reluctant to have SARS chew into 15% of my top line.

[prancing_horse]

Thanks for the reply, interesting. On my CFDs and SSFs (5 accounts) I calculate my profit for the year on each account and transfer 40% of that figure for Prov tax payment. I also set myself a limit for each account and at financial year end transfer the surplus to my long term portfolios.

[Preston]

That is a extremely well disciplined strategy.