KAZ

Here's a monthly Chart of KAZ...



The intra-day low was 170.7 back in 2008...


According to my Reuters platform, the closing low was on 20-Nov-2008, and the price was 173.8p (not that I'm quibbling over a few pence).


Not sure if there's any saving grace other than pointing out that the volume has been relatively low. Comparing a stand out high volume day (31-05-13) to today's volume, you'll see nearly a 95% drop (i.e. 15m versus 1m today).


Not a good couple of years for the miners in general, but KAZ (and POG, albeit for different reasons) really takes the biscuit.


On a personal note, this is a killer share - in every sense of the word. I enjoyed some terrific gains when I traded this on the way up from 2008 onwards, but I've surrendered some cash when I entered it around the £2+ mark too at the end of 2013. It is tough one.

(How the mighty have fallen eh?)

Hi remo and others, would be very interested to hear your views on kaz have gone long at 1.75 and 1.72 , didn't quite get 1.71 but may that have been the bottom for now ?

Regards

Andrew2013 wrote: Hi remo and others, would be very interested to hear your views on kaz have gone long at 1.75 and 1.72 , didn't quite get 1.71 but may that have been the bottom for now ?

Regards

Hi Andrew,

I'm not sure where it is heading - hopefully upwards. I entered at 172p exactly (inspired by the chat-room patrons on 24/1), banked some of the profits (it was a massive CfD, so needed to realise the "fish 'n' chip" money); I have since adjusted the stop-loss accordingly.

Personally (and this isn't trading advice!), I'm of the view that we've hit the bottom, but we'll never really know until we do (if that makes any sense!).



This is a difficult share to trade, especially after the ENRC situation - Can anyone say what the float is? Technical Analysis is becoming harder due to questionable actions and Central Banking interference, but that's a collegial argument for another time I suspect!

For now, I think we'll get a clearer picture after reporting - which I think will be on Thursday? (happy to be corrected!)

Good luck in what ever you decide!

Experience has taught me to expect the unexpected, but I'm ready to throw in the towel here with KAZ - and the broader markets

Here's a "5-minute" chart of KAZ today:



It gaps up (impressively), and now finds itself breaching its all time low (intra-day).

Moreover, looking at the current performance, it could well close on an all-time low too.

At this rate, it might be my queue to take a rest from trading all together until the markets become self-performing again!

Hi Libero,

This fell back of double (almost triple) resistance at 188/9p perfectly today so was a good place to close longs from 171p and short. Easy to say in hindsight, but it's pretty clear on yesterday's closing chart:



dl.dropboxusercontent.com/u/20815047/FTS...KAZdaily29_01_14.png

Jackozy wrote: Hi Libero,

This fell back of double (almost triple) resistance at 188/9p perfectly today so was a good place to close longs from 171p and short. Easy to say in hindsight, but it's pretty clear on yesterday's closing chart:

Hi Jackozy,

It sure is looking scary!

I did post yesterday that I did lock in profit and did move my stop loss...

... But the concerns I have are on going and to do with the macro picture, and the so-called recovery. Emerging Market fears aren't going away it seems, and with Ukraine's woes, perhaps there's a focus on the CIS nations to come (Kazakhstan being one of them)? Who knows!

Speaking of EMs, it seems that Zimbabweans are now refusing take the SA Rand - Imagine that! Well, they have first hand experience of currency inflation I guess!

Anyway, KAZ is fighting back but it will do well to close above 170 now. We'll see.