but, I didn't have a lot of work on today so, was able to watch L2 quite a bit. Although itay be wishful thinking on my behalf, it certainly looked to me as they didn't want the price to go below 39. There were many opportunities for it to do so but, I don't believe it did. Is 39 a significant number in the TA scheme of things?
Additionally the last two days they have opened higher and never allowed the price to attain that level again during the day.
I'm not so sure that he doesn't have any credibility - he might not be popular with PIs at the moment but that could all change overnight, in the same way as other CEOs have been viewed by PIs as somewhere on a par with God in the past yet today are somewhat less popular (Pete Landau at RRL for example)! I expect the BOD and the IIs are looking at where this is ultimately going and not what the SP will do in the next few weeks, as annoying as it is when it drops! Not so long ago i was in EXI briefly when it was all doom and gloom, the BOD were useless etc, then it went from the 120s to the 250s and higher and suddenly people were a lot happier with everything! Same on XEL with the BOD being less than popular with PIs at various times as well.
I'd rather people generating the money got to keep the vast majority of it rather than half of it being handed over to government pimps for doing absolutely f-all except buying votes with ridiculous self-harm "socialist" policies and made-up public sector jobs. Hardly any earners in the PI pay tax cos the government does nothing for them which works great - those doing nothing don't care, though some whinge about the lack of handouts for doing nothing but by and large they're the happiest people you'll ever meet cos they're free; I'd rather be poor and happy over there than a typical miserable collared slave over here!
Take a look at TLW, they had 20 billion dollars in the bank at one time, it's nearly halved in 18 months. No chance of GKP getting above 3 pounds for a while yet, unless it gets bought out. It's a brutal time for the oileys ATM, the last thing you need is a CEO that has no credibility
Most pi's in here are at such a loss there is no way they will sell out now and jump in another oiley. Best to ride it out and hope for the best, though I admit, it could be a brutal drop to the low 30s... 40p looking very weak.
I can't see that doing the SP much good though! Given some of the IIs increasing their holdings, Suttie buying a large amount of shares, and Petrofac deal still on, I'm not so sure the market has lost confidence in him, just a few PIs on here who expect everything to happen overnight. None of these oil shares ever play out like that - if they did the likes of RKH and GKP would be in full production and with SPs in excess of 20 quid by now (that was what people were talking about back in 2010/11) or sold to a bigger player long ago, and the list goes on... Just my opinion though and why I've always made the point that you either trade along the way or just sit back and wait for the end result, whenever that might come.
People still selling. Are we going to get this sustained level and then another drop if we are so undervalued why are people snapping these up at this price. Im beginning to side with the other doom merchants on here. Should have cut my losses in the 60's. Hate this share. Just a disaster. Sold xel to get back in.
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