jackdawsson
14 Sep 2017
Metal Miners lose ground: China slowdown Maybe of interest. Update on the gist of things re ANTO & related sector. - GLA. [link] metals miners lose ground amid signs of slowing China economy:Sep. 14, 2017 8:42 AM ET|By: Carl Surran, SA News Editor Shares of global miners are poised for sharp losses after China reported a surprise slowdown in business activity during August: VALE -3.1%, RIO -2.7%, BHP -2.2% premarket.China's value-added industrial output, a rough proxy for economic growth, slowed for a second straight month, rising 6% in August vs. a 6.4% increase in July, and growth in investments was the slowest in nearly 18 years.Copper is lower again following the data, and prices have now unwound by more than 7% since hitting their three-year peak on Sept. 6.With margin-seeking investors selling their copper holdings in to LME warehouses, stocks increased another 16% during today's trade, according to data from commodities broker Marex Spectron."
Eadwig
14 Sep 2017
Re: ANTO trades crikey, soi!I trust you have some shorts open as well?
soi
14 Sep 2017
Re: ANTO trades 966.5 longATBsoi
soi
14 Sep 2017
Re: ANTO trades 972 longATBsoi
soi
13 Sep 2017
Re: ANTO trades 979.5 long soi
jackdawsson
13 Sep 2017
Re: ANTO Long @ 1005.01, +987.99 Added 2nd & last long for reasons as before. Cu well down, but the L/T future seems bullish enough. Will look to settle ALL ANTO positions on the next spike up. - GLA.
soi
13 Sep 2017
Re: ANTO trades 995 longATBsoi
soi
13 Sep 2017
Re: ANTO trades 991.5 longATBsoi
soi
12 Sep 2017
Re: ANTO trades 1009 longsoi
soi
12 Sep 2017
Re: ANTO trades 1007 longsoi
soi
12 Sep 2017
Re: ANTO trades 1011 & 1009 long adds.soi
soi
12 Sep 2017
Re: ANTO trades 1016 long addsoi
soi
12 Sep 2017
Re: ANTO trades 1017 long againATBsoi
Eadwig
12 Sep 2017
Re: Copper Short / Range LKH, "I restrict mesen to thinking that Cu demand should be reasonably strong over the next few years as electric vehicles gain traction and there's no obvious excessive supply hike in prospect which would drive prices down."Mmmm. You could equally argue that copper telephone wires and even copper coax cable TV type wires re going to disappear completely to be replaced by fibre, over the same time period. So, that's no new copper telephone wires, and the old ones being pulled down and recycled.A few months ago I'd have been able to give you a rough guestimate as to how much copper is used up by communications p.a., but I think that part of my brain must have atrophied. Or possibly the link to it. Or both.Anyway, it was a large percentage of demand - maybe 10% I'll hazard a guess at. That's about 2,500,000 tonnes p.a. How much EXTRA copper do hybrid/electric vehicles use? 32kilos or something? That's, umm ....32/2,500,00032 doesn't go into 2, 25, but does go into 2507 x 32 = 224 so 32/250 = 7, remainder 250-224 = 7 r. 2632 doesn't go into 26, bring down a zero32/260 goes 8 r. 432 doesn't go into 4, bring down next zero32 into 40 goes 1 r. 832 doesn't go into 8, bring down zero32/80 goes 2 r. 1632 doesn't go into 16, bring down last zero32/160 = 5 exactlyso that's 78,125I can't believe I can still do long division.78125 electric/hybrid vehicles surely can't fill the gap of telephone lines etc. Anyway, I think it may be 32kg total, 16kg extra, so multiply by 2= 156k approx Right! That's more like it! .... What was the question again?
Eadwig
12 Sep 2017
Re: Copper Short / Range I closed the position yesterday for a minor net profit.I gave the market every chance to reverse the small gain made overnight, but when it started going sideways at $3.07 I decided to close. It could break either way from that point, I thought.The USD was also going against me once again. (Once bought, the ETP 'shares' are priced in USD which means a 0.5% charge on fx on the BUY and the SELL, plus rates can move either way while it is open, which affects the value of the holding).More importantly than my amateurish attempts to trade commodities, is what happened to the Cu price later. It did eventually go up to $3.08/lb, which previously had been a support level (again, I'm talking on a scale of days) and, as prices are wont to do, it bounced off $3.08 which now looks like resistance, and has fallen back overnight to under $3.05, but now rising again to above %3.06/lb.I'm no expert as most here know, but if I had to bet on the direction, I still think Cu has peaked for a while, and is likely to test some low perhaps 25 or 30 cents below its high. In fact it wouldn't at all surprise me if the price of Copper remains around $3.00 for some years. as we settle down after the super-cycle, but that remains to be seen.What I will stick my neck out on is that over a few weeks, Copper will establish a new trading range of c. $2.85/lb - $3.15/lb... in my opinion, which isn't worth a great deal, to be honest. Treat the above as a bit of fun rather than any kind of trading advice. If I get it right, when we look back with hindsight, I'll accept the title of ii Copper Guru, and tell everyone where I think its going next. Ahem.Anyone else fancy a go?PS. This doesn't mean I have even the faintest guess of where ANTO as a stock might go next. It seems to lead a life of its own, very often, although certainly moves with the sector. There's a lot more going on than that though.
