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Online Share Trading

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Anglo

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Blik
Super Contributor
Anglo's "next" support April 2003 - does this even count as a support 12 years down the line? Where to for Cutifani and Co., below 10000?
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18 REPLIES 18
AP
Regular Contributor
Also looked at trend this morning and decided to sell all my remaining Anglo shares this morning...In my opinion if there are no positive news (or even a glimpse of light at the end of a very long dark tunnel), AGL share price may work itself down to the 90's...and then even much lower...
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partridge
Super Contributor
Priced all the way back to where it was in May of 2003 - the earnings consensus view - even lower end indicates it is not expensive... Priced emotionally more than rationally?( as if that were something new)
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partridge
Super Contributor
Blik is right - the complete meaningless of the "support" is one thing and the emotion (?)reflected in the price decline is a multiplier - its over sold and perhaps more price downgrading to still come - But AP my question to you is - why did you sell - what "new news"# intervened to make you do that? If Cutafani is on track( lower cost better portfolio) as last indicated?(# - and of course the platinum story and VW which has to be an "eternal" business school case study going forward- is "new news")
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AP
Regular Contributor
No good news for commodities in the horizon will probably let it spiral downwards for longer. If one look at the possible support lines it can still drop considerably. Better to have the money in cash now and re-enter when commodities start turning.
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Russ
Super Contributor
Wow,just when you think resources can't go any lower. Check out GLN.
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WR
Regular Contributor
what is the latest news that is pushing this down
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Hali
Super Contributor
There was a report by Investec that indicated AGL and GLN will not provide any value to shareholders in med to long term
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kwagga
Super Contributor
Commodities = falling knifes. Don't try and catch a bottom here. Rather sit on the sideline and wait for this contraction to play out. Within a year or two only the strong that mobilized quickly to cut capex spend, close mines and retrench staff would have survived this. You can then have your pick for the long term.
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Preston
Super Contributor
@kwagga, I love Kio for the long term. Everytime it makes a new low, I buy for R16000 (R16k is my trading profit). I am NOT AFRAID OF NO GHOST!!!!(lol).
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AP
Regular Contributor
Agree Kwagga. Better to let the money wait (in cash for now @4 to 6% p.a. appose to -30% to -50% p.a.; until I find something good to invest in).
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Hali
Super Contributor
The bottom is very near imo
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Vince
Contributor
Damm this is a big problem for me. Will this ever recover to previous highs? R350 plus odd a share? I bought this 4 years ago as my long term share and am now like R16000 in the red!!!
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partridge
Super Contributor
Bad news is always multiplied in these situations - but the fact is the prices that these price takers have to take is out there every day - and it will come down to well capitalized and run businesses with quality assets...so the market classically oversells stuff then does an "Oops ! " and buys back...so this will bounce - which is a statement more of belief than fact...( belief is not an investment strategy...but those who were going to sell has probably done so given the steady long term decline of these shares to date - unless asleep..( volumes?)
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kwagga
Super Contributor
So how many commodity companies have not survived this ? I'm not aware of one ? I would like to see a few liquidations before I'd go so far as calling a bottom on this.
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kwagga
Super Contributor
Preston you should be doing the opposite. Sell the rallies in a downtrend. Not buy lower lows. The market can stay irrational much longer than you can stay liquid. Loss making strategy.
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Preston
Super Contributor
@kwagga, I am buying equities. This is a long term view. There are so many uncles , aunties , their brokers and their cousin brokers that are short on this stock. Any good news could see a massive increase/jump in the price. In other words , I am investi
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G_V_V
Super Contributor
Commodity down turn my a$$, they are consuming more commodities than ever before, at half the price may I add. These low prices are not going to last if the mines themselves are at risk. All this easy money will become expensive when interest rates start to rise even if the interest rates rise by a small percentage, which will more than double the interest repayments that no one can afford. Then you will see the gold price go through the roof and so will the mining companies. Either that or the rest of the economy will half in time, the balance between the commodities and the rest of the economy is way out and will re-balance. Economists who say that the commodities will stay low for much longer without effecting the rest of the economy are dreaming of a fools paradise.
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Blik
Super Contributor
AGL back up over 131 - 13% up in a week.....Can someone enlighten me as to what the eff is happening with this share. Did it crash down to 114 on the back of the Glencore assessment?
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