LGL - Lihir Gold

[spitrader1]

Re: LHG - Lihir Gold

Hi Guys,

Bit of a Green question...

Even though gold is up, which has been some time since last this high, will the dow being down near 50pts hold lhg back and moreso the xjo dragging lhg down.

I have seen both seneraios played out with opposite outcomes, hence my q.


Thanks
SevenFX

have a look at what BHP and RIO and the other mining stocks did over night. the dow has little effect on our mining stocks...you see almost every day we buck the trend.

 

[Sean K]

Re: LHG - Lihir Gold

Hi Guys,

Bit of a Green question...

Even though gold is up, which has been some time since last this high, will the dow being down near 50pts hold lhg back and moreso the xjo dragging lhg down.

I have seen both seneraios played out with opposite outcomes, hence my q.

Thanks
SevenFX

I see money going out of general market and into gold, uranium and still zinc. Maybe. XJO only down slightly really. On the other hand traders will be itching for a reason to take profits very soon. Perhaps a downdraft anywhere will be an excuse. Hhhmm, is that on the fence enough.

 

[SevenFX]

Re: LHG - Lihir Gold

Thanks for the take on LHG Guys

 

[spitrader1]

Re: LHG - Lihir Gold

Thanks for the take onLHG Guys

even though at the moment, its horribly wrong.

 

[SevenFX]

Re: LHG - Lihir Gold

even though at the moment, its horribly wrong.

Yeah it is, but I know what you guys said made good sense, even though the market doesn't always make sense.

Or we would ALL be rich.. and their would be no workers....

 

[spitrader1]

Re: LHG - Lihir Gold

Yeah it is, but I know what you guys said made good sense, even though the market doesn't always make sense.

Or we would ALL be rich.. and their would be no workers....

correct, if the market was logical, we would be millionares

 

[scsl]

Re: LHG - Lihir Gold

I see money going out of general market and into gold, uranium and still zinc. Maybe. XJO only down slightly really. On the other hand traders will be itching for a reason to take profits very soon. Perhaps a downdraft anywhere will be an excuse. Hhhmm, is that on the fence enough.

Could it possibly be that investors and traders in Australia are fearing a pull-back in the Dow? Because that's what is really holding me back from buying into stocks. But then again, everytime I've expected one, the Dow just keeps going up.

 

[Sean K]

Re: LHG - Lihir Gold

Could it possibly be that investors and traders in Australia are fearing a pull-back in the Dow? Because that's what is really holding me back from buying into stocks. But then again, everytime I've expected one, the Dow just keeps going up.

I think so. The world has had a great run the past month or so. Will be looking for reasons to take profits.

 

[Mofra]

Re: LHG - Lihir Gold

It is important to remember LHG is more influence by the POG than by the movement of the rest of the market, a situation which will only reinforce itself by the gradual reduction in LHG's hedgebook. I'm sure a number of people will be happy to hold some exposure to the POG given the current political climate.

 

[Sean K]

Re: LHG - Lihir Gold

Lihir had every excuse to be dumped yesterday along with everything else, but tested $3.00 again, and once again, failed. Done the same this morning. Just can't crack it. I've got the feeling that it will soon as it has some momentum with it. After $3.00, $3.10 is an important medium term resistance line, that if it breaks should keep heading on north. Probably needs POG to be going through $640 is for that to occur as I've mentioned somewhere before...

 

[spitrader1]

Re: LHG - Lihir Gold

Lihir had every excuse to be dumped yesterday along with everything else, but tested $3.00 again, and once again, failed. Done the same this morning. Just can't crack it. I've got the feeling that it will soon as it has some momentum with it. After $3.00, $3.10 is an important medium term resistance line, that if it breaks should keep heading on north. Probably needs POG to be going through $640 is for that to occur as I've mentioned somewhere before...

at least we were right when we bought some at 2.75 kennas. unfortunately i ditched them soon after.

 

[Sean K]

Re: LHG - Lihir Gold

at least we were right when we bought some at 2.75 kennas. unfortunately i ditched them soon after.

'Any profit's a good profit', don't you crazy brokers say? One of the first things my little bro (broker) told me. I use that psychology to assist when I make the blunder of not letting profits run, whatever that means!

 

[spitrader1]

Re: LHG - Lihir Gold

'Any profit's a good profit', don't you crazy brokers say? One of the first things my little bro (broker) told me. I use that psychology to assist when I make the blunder of not letting profits run, whatever that means!

its so hard to take a stock off ure watchlist, even if you dont have a position in it. Its the age old mistake of falling in love with a stock. Its one of the biggest traps around.

 

[Sean K]

Re: LHG - Lihir Gold

LHG is scared of $3.00.

 

[Sean K]

Re: LHG - Lihir Gold

Very scared of $3.00!! What's going on LHG? Gold is steady! It's not copper! You are a gold company!!!! You should therefore be steady, or going to where the POG is going - UP!!! Eventually. Well, that's not confirmed yet, we still need to keep above $620.

This chart is starting to infuriate me. Aaaahhhh! It's tracking up, down, sideways and no where at the moment. All you can predict is that it's going to range bewteen support and resistance lines. Then when it breaks through one for a moment, it goes back to another.

Hopefully $2.85 proves to be support as it should. It spent a few days trying to crack it recently, which should now bw support.

 

[Mofra]

Re: LHG - Lihir Gold

Very scared of $3.00!! What's going on LHG? Gold is steady! It's not copper! You are a gold company!!!! You should therefore be steady, or going to where the POG is going - UP!!!

It does seem to be a very well entrenched ST resistance line - LHG could be shaping up as a classic volume dirven breakout - might trumpet a move a day or two prior to a serious movement, to be exaserbated by people trading the pennant break.

 

[zed327]

Re: LHG - Lihir Gold

Kennas i believe the last wiggle in the tail before the enevitable break-out occurs. My estimation is within the next 10 day's.Using the narrowing trianguler pattern that has formed using mid febuary's low and may's high to today's present price looks pretty clear on what about to happen. I believe it will break upwards but that is because i'm a very bullish on gold ( even more so on silver ). I don't hold lhg at the moment but it is looking very good for those that do.

 

[The Mint Man]

Re: LHG - Lihir Gold

Considering POG has come down under $620, how do you see LHG fairing over the next week or so?
Ive got my eye on them real close just waiting for them to come down a bit more then I'll buy..... Should have just bought at $2.72 2 weeks ago

cheers

 

[Sean K]

Re: LHG - Lihir Gold

Considering POG has come down under $620, how do you see LHG fairing over the next week or so?
Ive got my eye on them real close just waiting for them to come down a bit more then I'll buy..... Should have just bought at $2.72 2 weeks ago

cheers

Still might be a chance to get in there at around $2.70 MM. I'd wait and see where it goes for the minute. POG needs to get back above $620 for LHG to keep climbing. The support lines seen on the LHG chart are good points to be buying in the short term. (And selling at the resistance lines!) Gold hasn't started a new uptrend IMO yet so might be worth waiting. Just my opinion though. There's lots of opinions out there that gold is heading down, just need to balance them all out and make your own call.

 

[Out Too Soon]

Re: LHG - Lihir Gold

This looks interesting, I don't hold but as you say Kennas "it all depends on the POG". If Gold does start to climb again I'm sure to be too late getting some Lihir. I'll watch for $2.7-something & gold price action.