There seems to have been a big sell off on the basic resources stocks today.
Anglo American 1488.00 -104.00 -6.53%
Antofagasta 384.50 -36.75 -8.72%
BHP Billiton 1192.00 -66.00 -5.25%
EURASIAN (WI) 303.75 -24.25 -7.39%
FRESNILLO (WI) 185.80 -9.70 -4.96%
Kazakhmys 234.00 -8.75 -3.60%
MONDI 195.25 -1.75 -0.89%
Rio Tinto 1470.00 -59.0 0 -3.86%
TALVIVAARA (WI) 111.00 -5.75 -4.93%
UK Coal 92.75 +0.75 +0.82%
Vedanta Resources 613.00 -52.00 -7.82%
Xstrata 663.00 -65.00 -8.93%
I do however see a selling opportunity in UK coal. It is going in the "wrong" direction and it is not really a good company. Coal is not really the forefront in green energy. I have been following it for a while, looking at its figures, and I think today is a good entry point.
Harworth Estates another one of their ventures is a property project. Again not the best of things to be diversifying into, the valuations will probably fall in line with the rest of the market. Their main business the mining operations are in fact money losing, their operating loss is £25.7 million on deep mines.
From a technical perspective, they are overvalued in terms of their short term moving average, in relation to the energy sector as whole they are unusually overvalued.
So from both the fundamentals and technical s I am entering a short trade with a stop of 98p and a target of 55p.
Anglo American 1488.00 -104.00 -6.53%
Antofagasta 384.50 -36.75 -8.72%
BHP Billiton 1192.00 -66.00 -5.25%
EURASIAN (WI) 303.75 -24.25 -7.39%
FRESNILLO (WI) 185.80 -9.70 -4.96%
Kazakhmys 234.00 -8.75 -3.60%
MONDI 195.25 -1.75 -0.89%
Rio Tinto 1470.00 -59.0 0 -3.86%
TALVIVAARA (WI) 111.00 -5.75 -4.93%
UK Coal 92.75 +0.75 +0.82%
Vedanta Resources 613.00 -52.00 -7.82%
Xstrata 663.00 -65.00 -8.93%
I do however see a selling opportunity in UK coal. It is going in the "wrong" direction and it is not really a good company. Coal is not really the forefront in green energy. I have been following it for a while, looking at its figures, and I think today is a good entry point.
Harworth Estates another one of their ventures is a property project. Again not the best of things to be diversifying into, the valuations will probably fall in line with the rest of the market. Their main business the mining operations are in fact money losing, their operating loss is £25.7 million on deep mines.
From a technical perspective, they are overvalued in terms of their short term moving average, in relation to the energy sector as whole they are unusually overvalued.
So from both the fundamentals and technical s I am entering a short trade with a stop of 98p and a target of 55p.
