LGL - Lihir Gold

[Sean K]

Re: LHG - Lihir Gold

1157 [Dow Jones] STOCK CALL: Advisory firm Fat Prophets says Lihir Gold (LHG.AU) can eventually beat A$3.64 record high in May, notes though LHG has had "an unhappy knack of disappointing investors." Last A$3.02, up 5 cents. Downside limited for LHG, chart support at A$2.66 and A$2.50 "with the June low of A$2.34 underpinning the shares, in our opinion." Adds gold will in time trade above US$1,000/ounce vs about US$649 now. (IGP)

 

[Sean K]

Re: LHG - Lihir Gold

Looks to be forming a giant wedge and if my naked eye is correct is sitting at about a 50% retractment from the $3.50 high and from the Mar 20 start of it's latest run.

Gold consolidating between $620 and $650, which way will it break? Hmmmm. Being a long term gold bull, I'm thinking north.

 

[Sean K]

Re: LHG - Lihir Gold

Chart:

 

[NettAssets]

Re: LHG - Lihir Gold

Trust it does break north - I am sitting on a Bull put which is in assignment territory if it goes south any further.

Nearly bought it back tonight but will give it another day - I dont think early assignment is a worry yet.

 

[Freeballinginawetsuit]

Re: LHG - Lihir Gold

You poor bugger Netassets (John).

 

[NettAssets]

Re: LHG - Lihir Gold

Yeah it did hurt a bit and the MM's weren't doing any favours with selling back puts!
Oh well thems the breaks no where near the max loss.
but we where so near to clear last night.
serve me right for trying to skin the MM's for a cent yesterday and then complaining when they get me by five today.
John

 

[NettAssets]

Re: LHG - Lihir Gold

wonder if I should post me avatar upside down?

 

[Freeballinginawetsuit]

Re: LHG - Lihir Gold

Yeah it did hurt a bit and the MM's weren't doing any favours with selling back puts!
Oh well thems the breaks no where near the max loss.
but we where so near to clear last night.
serve me right for trying to skin the MM's for a cent yesterday and then complaining when they get me by five today.
John

It was the market that did for you today, not a good day. My pick for the day SDL, ran out of steam, just no volume around.

 

[Sean K]

Re: LHG - Lihir Gold

LHG still heading towards a point which looks to be 50% from high after it's break up earlier in the year. Pinned to POG perhaps, yes, but maybe it's a summary of gold as well.....Perhaps coming to a turning point. Either a step down or up. Would be interesting to get a Wave theorists to plot the current situ.

 

[NettAssets]

Re: LHG - Lihir Gold

My

By looking at the last weeks trading I think some players where trying to keep it under three dollars for options expiry yesterday.
I would expect it to break out upward this morning.
Up a cent now in a weak start on the market.
If it closes tonight above $3.05 I will take my theory as fact! there is not enough upside in the POG for that to be the reason.
John

 

[Sean K]

Re: LHG - Lihir Gold

$3.05 will take it just through the resistance level of the triangle, but $3.10 will confirm upward momentum I think. Hope you're right John. I like LHG as a long term pick anyway, even though there's considerable country risk.

If gold going back through $650, and beyond, LHG is a great unhedged stock to have, and it's stated to be acquiitive, or could be a target of a major.

 

[grunt]

Re: LHG - Lihir Gold

i hope your right kennas because i chucked the house keys on this one (2.92). i am very sure the up side of gold will push lhg to new highs pretty soon.

 

[NettAssets]

Re: LHG - Lihir Gold

Looks like I was very wrong on my reading of this one.

Gold hasn't backed off all that much but LHG can't get its butt out of bed


John

 

[Sean K]

Re: LHG - Lihir Gold

POG still vulnerable short term I reckon, until hurricane season really kicks in and Iran launches a few nukes at Israel. Well, looks like doing it any way. Peace is only a temporary thing in the Middle East. The next oil disruption is just around the corner, sending prices higher and further fears of economic downturn, recession, US$ collapse, POG up, up, and away....LHG up, up, and away. Usual one mine risks, blah blah..

 

[Sean K]

Re: LHG - Lihir Gold

Lows are getting higher and highs are getting lower......

Need to just watch for when it breaks either way. Bullish is above $3.12, bearish under $2.74, imo.

 

[grunt]

Re: LHG - Lihir Gold

upward breakout fri or mon.a bit of georges crazy sabre ratling should do the trick.

 

[NettAssets]

Re: LHG - Lihir Gold

Yeah

Glutton for punishment Ive gone long again
couldn't pick the target last time though so Ive gone for calls instead of puts. the IV was a bit better buying too.
John

 

[SevenFX]

Re: LHG Breakout

Hey Kennas,

Nice to see my chart is same as yours, confirming a breakout one way or the other...?????

 

[nizar]

Re: LHG - Lihir Gold

POG still vulnerable short term I reckon, until hurricane season really kicks in and Iran launches a few nukes at Israel. Well, looks like doing it any way. Peace is only a temporary thing in the Middle East. The next oil disruption is just around the corner, sending prices higher and further fears of economic downturn, recession, US$ collapse, POG up, up, and away....LHG up, up, and away. Usual one mine risks, blah blah..

kennas,

if there is an economic recession, global stockmarkets will collapse, and regardless of the price of gold, do u really think gold stocks will be spared ?

 

[rederob]

Re: LHG - Lihir Gold

LHG: buy alert.
Breakout of symmetrical triangle will become evident today and gold prices will keep this stock heading for a plus$4 finish line in a few months.