casabanker
02 Jul 2017
Re: Fresnillo Hello puppadom,Are you just new to trading FRES or just new to trading? It makes a difference. I am going to guess that it's the latter. It is also relevant to know whether you intend to day trade or as I do, buy and sell as little as possible. Once that is established, you need to know that day rrading is high risk. Most day traders will use either CFD's or spread betting which allows "going short" as well as long. This type of investing is likely to incur leverage. FRES is a good subject for day trading. Mining stocks are more volatile than most other sectors and will provide opportunities to make or lose money fast. If you get it right, it's great but most get it wrong.FRES is a major silver miner but it also has a significant gold production too. It also pays a dividend but it's not an income seekers stock. Like most other precious metal miners, it's price does reflect movements in the price of silver and gold but the relationship is looser than you might expect. After all, miners have many other issues to deal with such as quality of ore, remoteness of mines, targets, politics, war zones etc. Cost of extraction can be a big problem when precious metal prices fall. I have tried to trade gold stocks (not day trading) but it didn't work for me. I hold PAF and CEY as well as FRES but the holdings are for defensive reasons only. During these times of high debt, both public and private, there could be another market crash anytime soon. I am not a gold bug, but holding about 5 to 10% of your portfolio in gold ETF's and stocks such as FRES will give my portfolio a reasonable level of insurance should the worst happen.Good luck with whatever you decide.Casa.
puppadom
27 Jun 2017
Fresnillo Hi I'm new to trading Fresnillo and I was curious to know what it tends to follow. Does it follow silver or the FTSE charts/prices ? Any insight would be gratefully received. Thanks Dom
sasa43
29 Apr 2017
Re: sas43 Hi Ripley - nice to hear from you; my, you've got a good memory re: MWG - sold all mine some five years ago around 42p (ave) having just checked my records.One of my poorest picks - lost a packet, I see... Everything was going their way, I recall, with their new forward osmosis technology likely to secure decent orders in the Middle East but they never were able to successfully commercialise it, despite their advantage over the then competition. In retrospect, a business run by boffins with little sales acumen, seemingly....Gave up in the end, having persevered for quite a long time but hope that you've fared better than me....sasa.
Ripley94
29 Apr 2017
sas43 Hi sasaYou still in MWG
sasa43
26 Apr 2017
XD tomorrow... So can expect a downward adjustment of 20p or so - looking cheap now? - sasa.
velocipede
05 Apr 2017
Re: Shanghai market volume rock bottom blimey .... of all the shares to short, I wouldn't choose this one!
tornadotony
05 Apr 2017
Shanghai market volume rock bottom Shanghai SGE on rock bottom volumes. Huge bear flag for precious metals. Silver has one of the lowest reads all year.
tornadotony
28 Mar 2017
Support/Resistance Strong resistance line at 1581 which Fresnillo can not seem to pass and hold. Support lines are at 1517 and 1484.
tornadotony
23 Mar 2017
Shanghai volume is rock bottom Minimal activity from Shanghai especially on silver and high purity gold bars. A bear flag again and could be real this time round.
tornadotony
21 Mar 2017
RSI (10) is now 90 At the low of around 1300 we had incredibly low RSI levels near single digits on the 3 monthly graph. Fresnillo is now so overbought that these levels are around 90 RSI. The USD is now massively oversold. The overall impact is equivalent to $17 an ounce of gold improvement along with 30 cents on silver from the recent lows when Fresnillo was 1445. So 108p (7.5%) is given on the share price for 3% improvement on earnings. No matter how I look at it, the stock now looks overvalued by at least 60p on a mirror image comparison to how the metrics valued it just a few weeks ago. It is useful to monitor how overheated the stock is as a drop back can be brutal on this share.
rhino666
21 Mar 2017
Re: Late trade is not a gap fill Yes, exchange rates are indeed confusing the issue. Peso dollar, dollar pound - I guess the market has worked it all out. I am simplistic and like to rely on one correlated variable like the gold price for FRES or the copper price for ANTO but current exchange rate volatility has confused the issue.A good time to be a FRES holder, not so good if waiting to buy in.
tornadotony
21 Mar 2017
Re: Late trade is not a gap fill Hi RhinoAnother factor is that the mexico peso has begun reversing its depreciation and now back to June 2016 levels. It has appreciated 7.7% in the past month and 15.3% since its January depreciation peak. Fresnillo are facing more cost pressures. The UK pound has begun its appreciation as well. We have also seen a series of lower highs on this stock.Shanghai Gold exchange has shown very low silver volumes two days running and the floor has dropped out for pure high bar gold volume. This is very bearish for the metals and I am not sure why the markets are not adjusting regarding the miners stock prices. Tony
rhino666
21 Mar 2017
Re: Late trade is not a gap fill Something is keeping the Fres SP about a £1 higher than it should be according to the current price of gold. Gold has dropped significantly and FRES goes up!Darned nuisance if like me looking to trade back in at about £14.50
tornadotony
21 Mar 2017
Late trade is not a gap fill Publishing a late trade is not a gap fill in my opinion. Cute move by market maker to give a false low for the day on 20th March. They will probably spike out another gap even lower the same way. The share is being manipulated by MMs and some major holders. I am rapidly losing confidence on this particular stock. It has to properly correct for us to see much higher stock prices. Other gold and silver miners are not charting this way.
tornadotony
20 Mar 2017
Re: Gold and silver week 20th March Hi CasaThe favourite month for big equity corrections is in October and of course we have the sell in May and go away adage which can be a significant down month as well. I suspect year end activity in UK and elsewhere for early April and allowing tax positions being sorted favours stability for the time being.I suspect the USA realises that the USA first slogan ends up with Americans having to buy their own Treasuries while other countries dump them to buy back their own. That kind of move favours certain economies like Japan. It also implies higher interest rates and that could be a headwind for gold and silver unless some more global growth arrives. Tony
