Welcome to the Spread Betting Community
I’m sorry for not having posted lately but I’ve been exceptionally busy even though I’ve continued to trade. To summarise I’ve lost a lot of money on my Avocet holdings, made money on Amara, lost a lot on Gulfsands (which luckily I’ve managed to offload on its recent tick-up to 68p) and made a lot on long trades on both Xcite Energy and Quindell which I’ve timed out very well. I’m thinking of posting a statement of my account here if I figure out how to upload the data efficiently.
I still believe in Centamin as a long term play. In my view they are relatively immune to gold price perturbations compared to the vast majority of producers that I monitor – thanks to their low all-in costs.
At current price of gold and extrapolating forward to their full 50:50 split with the state by c. 2019, I still estimate their earnings per share at 12p+ (ie making their forward P/E c.5x!), so on a fundamental basis they remain co [Read more...]
So the Fed will continue pumping liquidity