KAZ

Hi Libero,

This fell back of double (almost triple) resistance at 188/9p perfectly today so was a good place to close longs from 171p and short. Easy to say in hindsight, but it's pretty clear on yesterday's closing chart:



dl.dropboxusercontent.com/u/20815047/FTS...KAZdaily29_01_14.png

Experience has taught me to expect the unexpected, but I'm ready to throw in the towel here with KAZ - and the broader markets

Here's a "5-minute" chart of KAZ today:



It gaps up (impressively), and now finds itself breaching its all time low (intra-day).

Moreover, looking at the current performance, it could well close on an all-time low too.

At this rate, it might be my queue to take a rest from trading all together until the markets become self-performing again!

Andrew2013 wrote: Hi remo and others, would be very interested to hear your views on kaz have gone long at 1.75 and 1.72 , didn't quite get 1.71 but may that have been the bottom for now ?

Regards

Hi Andrew,

I'm not sure where it is heading - hopefully upwards. I entered at 172p exactly (inspired by the chat-room patrons on 24/1), banked some of the profits (it was a massive CfD, so needed to realise the "fish 'n' chip" money); I have since adjusted the stop-loss accordingly.

Personally (and this isn't trading advice!), I'm of the view that we've hit the bottom, but we'll never really know until we do (if that makes any sense!).



This is a difficult share to trade, especially after the ENRC situation - Can anyone say what the float is? Technical Analysis is becoming harder due to questionable actions and Central Banking interference, but that's a collegial argument for another time I suspect!

For now, I think we'll get a clearer picture after reporting - which I think will be on Thursday? (happy to be corrected!)

Good luck in what ever you decide!

Hi remo and others, would be very interested to hear your views on kaz have gone long at 1.75 and 1.72 , didn't quite get 1.71 but may that have been the bottom for now ?

Regards

Here's a monthly Chart of KAZ...



The intra-day low was 170.7 back in 2008...


According to my Reuters platform, the closing low was on 20-Nov-2008, and the price was 173.8p (not that I'm quibbling over a few pence).


Not sure if there's any saving grace other than pointing out that the volume has been relatively low. Comparing a stand out high volume day (31-05-13) to today's volume, you'll see nearly a 95% drop (i.e. 15m versus 1m today).


Not a good couple of years for the miners in general, but KAZ (and POG, albeit for different reasons) really takes the biscuit.


On a personal note, this is a killer share - in every sense of the word. I enjoyed some terrific gains when I traded this on the way up from 2008 onwards, but I've surrendered some cash when I entered it around the £2+ mark too at the end of 2013. It is tough one.

(How the mighty have fallen eh?)

Remo, et al. you might get that entry point this morning, with most large Aussie miners down today after HSBC flash PMI below 50, needs a tight stop as you highlight on first attempt.

POG November 2008 closing low £1.93, now 72p
KAZ November 208 closing low £1.79, now £1.79
Both using a long-term chart, but yours is more accurate.

FRES breaking the 61.8% retrace of £8.66 from November 2008 lows, now £7.54

It surely doesn't feel the same as November 2008, when I entered KAZ at 181, when FTSE was up and down 9% daily (general market news (noise) was very bad), however, there can be a Chinese New Year bounce (but not every year) in the most used base metal copper, after the golden week of celebrations as Chinese Government allow more buying at the start of a new financial year.

Year of the Horse, make sure you back a thorough bred and not some old nag this year!

Gong Xi Fa Cai, as they say here in George Town, Penang, unfortunately the celebrations go on here for weeks (Chinese reunion diner Thursday 30th January, Friday 31st January Chinese New Year Day and Jingle Bells in Chinese everywhere in supermarkets and Malls in addition to the old favourites) and here in particular on the 8th day fireworks from 8pm to 4am, non-stop sounds like a war zone but looks good (this is to celebrate Hokkien Chinese (Fujisan Province) escaping a massacre by the Han Chinese.