The LONMIN share price thread

[Thor]

So this is saying we should hang onto our shares till at least Jan?

I have no idea what it is saying I just know, I am not selling until Feb 2016 or R2 per share, which ever comes first

 

[shooter69]

Ok I am done. I have bought my 10k+ cheap Lonmin shares. I have no plan to sell anytime soon.. this is a short/medium term investment until I can see where this company is going.

So now I will not worry about what the price does for the rest of December

 

[Drifter]

I have no idea what it is saying I just know, I am not selling until Feb 2016 or R2 per share, which ever comes first

If it goes to R2 per share it can go to R8 per share.

 

[Thor]

Ok I am done. I have bought my 10k+ cheap Lonmin shares. I have no plan to sell anytime soon.. this is a short/medium term investment until I can see where this company is going.

So now I will not worry about what the price does for the rest of December

Same here!

If it goes to R2 per share it can go to R8 per share.

That is the first mistake people make. It can also tank.

Trading is all about discipline.

You set your goal and you stick to it.

 

[shooter69]

I am dead sure that this whole Lonmin thing must have broken some records here in SA

 

[Thor]

I am dead sure that this whole Lonmin thing must have broken some records here in SA

African bank a close second

 

[Drifter]

Same here!



That is the first mistake people make. It can also tank.

Trading is all about discipline.

You set your goal and you stick to it.

For sure it can tank.

 

[Alton Turner Blackwood]

Did YingYang kill himself?

Jisis bru.

Yesterday was our end of year function so I didn't pay attention to any of my trading. I got SMS's but ignored them because I was too drunk.

This morning when I logged in and I've been margin called when the market opened!!! Fsck!!!

Incidentally, one of my forex accounts is blown as well (it only had 200AUD in it so not that big a loss

I should stop drinking!

 

[5plus2equals9]

rights issue the market is adjusting to it. I think.

The market (and price) should have already reacted to that upon its announcement.

 

[Alton Turner Blackwood]

@YingYang

Buddy... Do you still have margin?

It will recover, hold in there.

I am so glad I did not go CFD

I've been margin called upon opening of the market. So that's I think 800 bucks down the drain. Thank god I didn't trade more, I wanted to buy 10k worth of contracts

 

[Thor]

The market (and price) should have already reacted to that upon its announcement.

Well reality is the price is now inline with the rights issue

 

[Thor]

Jisis bru.

Yesterday was our end of year function so I didn't pay attention to any of my trading. I got SMS's but ignored them because I was too drunk.

This morning when I logged in and I've been margin called when the market opened!!! Fsck!!!

Incidentally, one of my forex accounts is blown as well (it only had 200AUD in it so not that big a loss

I should stop drinking!

Lolies

 

[Thor]

I've been margin called upon opening of the market. So that's I think 800 bucks down the drain. Thank god I didn't trade more, I wanted to buy 10k worth of contracts

 

[TofuMofu]

Well reality is the price is now inline with the rights issue

Is that a good thing?

 

[Thor]

Is that a good thing?

I might be wrong 90% of what I say here is not validated what so ever. ( SO take my bubbles with caution )

 

[TofuMofu]

I might be wrong 90% of what I say here is not validated what so ever. ( SO take my bubbles with caution )

Noted

 

[5plus2equals9]

Well reality is the price is now inline with the rights issue

If it takes the market that long to react, we could all have been making a killing by taking a short position on the shares.

 

[Rkootknir]

Well reality is the price is now inline with the rights issue

The last trading day for the nil paid rights (LONN) was yesterday, so everybody who bought those in the open market now have the choice (up to 11/12/2015 IIRC) of either taking them up or letting them expire. Standard theory suggests that at the point where the nil paid rights stop trading the price of the share should equal the price of the rights issue as the arbitrage opportunities disappear.

[Correction]Rights had to be taken up yesterday - they'll only settle on 10 Dec though.

 

[Thor]

If it takes the market that long to react, we could all have been making a killing by taking a short position on the shares.

I did make a killing

 

[Thor]

If it takes the market that long to react, we could all have been making a killing by taking a short position on the shares.

I stand corrected, see below

The last trading day for the nil paid rights (LONN) was yesterday, so everybody who bought those in the open market now have the choice (up to 11/12/2015 IIRC) of either taking them up or letting them expire. Standard theory suggests that at the point where the nil paid rights stop trading the price of the share should equal the price of the rights issue as the arbitrage opportunities disappear.

[Correction]Rights had to be taken up yesterday - they'll only settle on 10 Dec though.

Thanks for this