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Online Share Trading

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THRESHOLD
Super Contributor
LONMIN has been languishing below 10c per share (on a pre-consolidation adjusted basis) for ages. Now a break to 12c. Utter shareholder value destruction - fortunately that was for the account of previous benighted investors (so far.) This is an interesting call option on platinum! Worth a dabble - perhaps on a drop back to 10/11 I would look at accumulating more...
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18 REPLIES 18
ChrisDT
Occasional Contributor
i bought at 9 rand and will be buyer until it clears 15 rand-all the bad is behind us for the next few months-will it survive in the long run? i don't think so.
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Russ
Super Contributor
I think the plat shares are looking good generally. I have some ams and rbp.
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barry_1
Super Contributor
Might be a good idea to add some SGL as well, then the gold will help the plats and other parts still to come !
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Not applicable
dude, not more than a couple of weeks ago you were complaining about how difficult it is to offload thinly traded stocks. London is so thinly traded these days, you are going to fall into the same trap here. Whatever money you put into Lonmin, just know that your trade is all or nothing - the very real scenario is that you will lose 40%-50% of your bet at the slightest hint of more bad news.
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THRESHOLD
Super Contributor
By "illiquid" I meant RTO, SPA, ANA, CRG, CND, NCS. None of them RAND hedges with the possible exception of NCS. LONMIN is a raging river by comparison!
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THRESHOLD
Super Contributor
Full disclosure - I have taken a slug of this seemingly horribly undervalued asset (or maybe just a horrible "asset") now - so - no negativity please. I am firmly in the see no evil, hear no evil, speak no evil camp until I sell them. I decided short the banks up at NED R188, BGA 142, SBK 113 - so my LONMINs are pretty much free anyway.
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prancing_horse
Super Contributor
Interested to know at what price are you going to jettison Ned, as I'm eyeing them to go long when they hit 170
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kwagga
Super Contributor
Too much risk for me in this share.
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THRESHOLD
Super Contributor
Half at R180 - so gone - the other half at R176 which is where she found strength last time. The rest of the fat someone else can enjoy!
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THRESHOLD
Super Contributor
I f it looks strong - I'll clear them all at R180 and re-enter higher up.
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THRESHOLD
Super Contributor
I can't argue with that - but I see it as a put option on the ZAR and a call option on Platinum / Paladium. The ZAR is not looking like it has much of a future. PT and Pd are trading at historic lows to gold. Sooo... Even if things stay as they are and LON achieves her R10400 costs she will be heading for full year all-in profits of R10 per share.
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prancing_horse
Super Contributor
Thanks & good luck, we need it in this market.
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THRESHOLD
Super Contributor
I think I'll watch this morning's action and offload them as low as I comfortably can.
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Russ
Super Contributor
I don't see any train smash with the platinum shares. Overbought short term maybe, but still looking ok for the longer term.
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THRESHOLD
Super Contributor
So R176ish it was - for better or for worse.
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prancing_horse
Super Contributor
My exposure to the financial sector not looking too good at present, "50 shares of red"
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THRESHOLD
Super Contributor
Personally - I have sworn off most S African shares but especially financial shares for a host of reasons. There is such unemployment headed our way - that there just have to be huge defaults on the cards. If the ZAR blows out - these shares will be in big trouble for similar reasons. If the government follows the example of our neighbours up north and tries to peg the ZAR - I would not like to be holding banking shares. I my opinion they are, in terms of their basic business model, about as close as you can get to an anti-hedge.
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vishal
Regular Contributor
Incredible run
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