Why The Drop in SLR today

Anyone notice the end of day trades
They were massive, all up the days volume of 73,237,988
What gives??????
 
faaark about 12 million worth of large trades at the close then a single 24 million special cross trade at the last minute.

That's some major funds getting in/out.
Is there even a single major shareholder with 24 million shares ?

Keep an eye out for the substantial shareholder notices early next week to see who sold/bought
 
trew said:
faaark about 12 million worth of large trades at the close then a single 24 million special cross trade at the last minute.

That's some major funds getting in/out.
Is there even a single major shareholder with 24 million shares ?

Keep an eye out for the substantial shareholder notices early next week to see who sold/bought
Click to expand...

Silver Sanchez?
 
The mid caps look awful at the moment with no good news on the horizon, end of year tax loss taking?
Gold AUD $1,402
US $1,295

SLR .64 down 5.88%
NST .645 down 4.44%
KCN 1.43 down 4.67%
EVN .575 down 10.85%

And the big gold miner NCM 9.79 down 5.41%

I pulled my latest order of SLR @ .62, just sitting and waiting this one out. Good luck to all the holders
 
24 million shares change hands in one transaction and still no substantial shareholder announcement

but the directors continue buying
 
Noob question guys if I may...this will be my first ever share purchase (outside of super fund). Traditionally is there a typical low point in a days trading to look out for?

Many thanks.
 
Greenman said:
Noob question guys if I may...this will be my first ever share purchase (outside of super fund). Traditionally is there a typical low point in a days trading to look out for?

Many thanks.
Click to expand...
In my experience - between 10am (market open) and 10:30 - the direction is made, but by 1pm you usually get a peak or a low point

If the general sector or market is very weak or very strong i notice that the 1pm doesnt turn.

This is not educated trading knowledge just general observation when dealing with the Aussie gold stocks.
 
Any idea what effects the reserve bank meeting today might have on gold shares like this one?
 
I agree with Silver Sanchez with regards to buying gold stocks....the lions share of the move seems to be in the first hour of trade..
 
Greenman said:
Any idea what effects the reserve bank meeting today might have on gold shares like this one?
Click to expand...

There are bigger influences on POG at the moment like the China credit crunch scare and the expectation of QE extension instead of ceasing (I reckon this is why the entire global market is up)
Look at US 10 year bond yields, it's a great barometer, the Fed doesn't like rising yields in this cycle.
Having said all that, the dropping of value we are experiencing in $AUD against the greenback helps the spot price in Australian dollar denomination but it will eventually inflate the cost of mining (energy costs) via oil import costs
Finance is a bit bigger than one particular thing
Hope this helps
Cheers
Alfie
 
The oil cost inflation is why miners should hedge their fuel. Volitile diesel prices consist of about 30% (i believe) the total all in cash costs. The airlines got burned badly from hedging their fuel in the 2008 crash, but that doesnt mean its a risk nessearily.
 
First ever share purchase today. A slice of SLR at 67 cents.

(Get ready for the plummet).

Nice to be part of the club.
 
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