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Virtual Trader - burnbankbrian
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And what prediction(guess) was that.
Its easy to say, hey these are reaching a top so there going to come down.
The whole market has been declining slightly, due to the fact of greece the EU bailouts overall and an upcoming election.
Add to that some analysts/economists are predicting a BUST in China.
The minings are getting hit cause they did gain substantially due to the comodities price soaring. They are now predicted to go back.
BHP billiton is away to be on the end of a ridiculous amount of taxation on profits in australlia, ehich will wipe billions off there profits, this is going to be reflected in there price.
If this was your prediction, then yes you were right.
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i mean comodity prices are going to fall,
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xstrata has taken a hell of a hit , up 30% wen i won now im in the red!!!
bah, oh well, glad it happend after march :P
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Read my comments of April 1st :
Are'nt we all speculating???
When i said about the economy I meant globally. Half of Europe is still in recession and USA are still in recovery mode. I still think miners will drop considerably over the next few weeks!!
Thanks for the debate...............
Yes comodity prices will fall as will all stocks but i emphisized that mining stocks would drop "considerably" and they have done just that. The hard bit now is predicting another "considerable" rise.
What do you think?
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no we arent all speculating,
im not a day trader
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plus all stocks are falling not just mining
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and i do beleive you got lucky with the call. make another call in the future and ill beleive you.
you didnt know why they would fall, you just HAD A FEELING, what kind of info is that to go on.
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I gave you hard facts A.K.
See my comments from 31 March
"Algabra King the economy is not picking up as strongly as some people might have you believe. With that in mind I think mining stocks have raced ahead too quickly. I also think the FTSE100 is punching way above its weight just now and is due for a downward correction"
These were facts based on my analysis of mining stocks.
And now for my next prediction!!!!
I expect modest gains for a week or two then good news from china will send them higher by 15-20%.
Watch this space.........
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guess guess guess.
You traded very soundly today i noticed.
You were caught out because you dont know where they were heading.
Back up it seems
mining stocks are fundementally sound stocks.
Im sure you understand fundementals along with technical stuff.
As i said a while ago, they are the first stocks (usually) to recover, due to an increase in demand. Mining companies output increases before any other output.
They are not in a downward correction, they are following the trend of the overall market, heading down at the moment. If anything they are going to head in to a trading range.(up and down fluctuations within a price range).
I will follow the market, the market tells you what to do.
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And great prediction, sounds like a weather forecast. Yes the market has went lower, so hmmmm id say theres a good chance it will head back up, just like it recovered from the recession.
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