Monday, 14 May 2007

Metals hammered by Brokers

HSBC's downgrade and the weakness in Metal Prices brought the shares in mining companies lower in the UK stock market today - after all the sounds that were made only a few days ago about the takerover possibility of  Rio Tinto  by the giant BHP Billiton, now we have HSBC saying ... "it would be highly unlikey that Billiton, would consider to bid for Rio" and consequently downgraded Rio's shares from "overweight" to "neutral" --- I guess the last of the cfd shorts must have exited the market by now - and some traders may well have opened large long positions in the hope that the bid would have come to realisation eventually!!

That is where Day Trading is always preferred by me when placing my CFD trades, as I have seen too many times, where the stock brokers have played silly billy with the investors' money.

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