Fresnillo

[adamhargreaves]

Hello everyone,


im new to this forum just wanted to get some feedback from you guys. any ideas suggestions comments or a just a hello welcome.

entered long on 12/11/09 @ 888.00 support established @ 850.50
ADX strong , good volume and break of range supporting long entry
volatility stop wide enough to avoid intraday noise.
entry signal was generated on market close 11/11/09

Market close 12/11/09

My system is still keeping me long in the market, however market close shows failed test. unable to break provious high. bearish inside bar.

Chart Attached.

Regards Adam

 

[tpearl]

I would be interested in any discussion any any of the FTSE miners, although more so: KAZ, VED, LMI & XTA. I am more interested in shorter term positional trades (1-2 weks) as using daily tick charts. ANy news, info, thoughts etc equally welcome.

 

[Dentalfloss]

does fresnillo move with the index/ftse 100 or gold/copper price,oil or the dollar.??
you will find that most of the miners move with these,at this point,it is the dolllar...devaluation

 

[tpearl]

Given FRES.L is a gold mining stock, so its price is heavily dependant upon what is going on with gold as a raw commodity. If you wanted to trade FTSE 100 stocks that were weighted more in line with copper then you should look at Kazakyhms (KAZ.L) or Vedanta (VED.L). Given that these are commodity based stocks there may be some dollar dependence (although gold is actually a dollar inflationary hedge) although given their upside performance verses the FTSE100 I wouldn't really worry about the dollar dependance at all. Different stocks are more volatile that the FTSE100. Stocks such as Xstrata, Vedanta and Kazakhyms are about 80% more volatile (aprox). This is known as beta. For technical traders this is often viewed as a plus because this accelerates returns IF you can time the entry and exit points of your trades. For those who like to buy and hold this is also advantageous, just so long as you exit before the market crashes/retracts. With regard to oil, the only FTSE100 with any real weighting is BHP Biliton and this seems to get out peformed by Rio Tinto vertially every single trading session. If you wanted 100% oil exposure either trade the oil stocks (Cairn Energy, Tullow oil etc) or trade an oil ETF.

Hope this helps. Let me know if you need any clarification or expansion on any of these points.

 

[Dentalfloss]

according to the telegraph,fres is silver miner
i have some discrepancy.did it rise 18% yesterday.??
if so,you had a great trade...enjoy the money

 

[tpearl]

it mines both silver and gold. Hasn't moved 18% in a day for a very long time so not sure where the Telegraph is getting that data from.