'The bears have taken hold' of markets.. With the FTSE 100 now down 0.8% at 6,148.92 the prospects for markets on the other side of the pond are looking equally gloomy. Connor Campbell, financial analyst at spread betting firm Spreadex, says "the bears have taken hold".
"Following the lead of its European peers the Dow Jones is set to open in the red this Monday, the index looking at a 60-ish point fall when the American session gets underway.
It's not the fact that he was ramping and attempting to get people to buy in while protesting that the shares are undervalued and will be back to 0.8p very soon. It wasn't the fact that he was littering the BB with between 20-30 posts per hour! It wasn't the fact that he was making so much noise for someone who essentially owned pocket money worth of shares ( 250k shares I believe).
It was the fact that the minute that he sold , he informed the BB that this share is heading back to 0.17p (almost a 50% drop) and has been deramping ever since!
Had he sold and quietly slithered away, hid under his rock and said nothing he wouldn't appear to be such a repulsive and repugnant character...
Top tip for newbies : Never trust loud characters such as cupcakes!
oil prices are consolidating as US rig count drops still further. So return to 0. 8 must be just round the corner as the ever wise and honest cupcakes was telling us over and over. What a gem of a man. ;)
Eva has this morning replied to an emailed query and said the question of readiness to ramp up/ accelerate will be addressed in next Q n A on 23 March.
Hong Kong residential home sales plunged 70 percent in February from a year earlier to a 25-year low, as falling prices and economic uncertainty deterred buyers.
Last month, 1,807 homes were sold in Hong Kong, compared with 6,027 a year earlier, according to government statistics. Home sales fell from 2,045 in January, the data show.
“The newspapers keep on saying the market is going down and buyers think they can get a cheaper house half-a-year later or one year later, and so are waiting," said Thomas Fok, a property agent at Centaline Property Agency in Hong Kong’s upscale Mid-levels West district where he hasn’t made one sale this year.
Property prices have declined 10 percent from their September highs amid uncertainty over the economy at home and in China, possible interest-rate increases and plans by the government to boost housing supply in the next five years. Senior Hong Kong government officials have ruled out relaxing property curbs, which include extra stamp duties and caps on mortgage levels.
is at the mercy of traders, but that was always going to be the case at these levels. Still as long as the stall is laid out before hand I see no problem as don't forget we had to endure ramping on this BB all the way down from the teens....
Oil jumps as sentiment gets boost, but analysts warn of ongoing glut..
Oil prices rose on Monday, extending a rally that has lifted crude benchmarks by more than a third from this year's lows, as tightening supply and an improving global outlook strengthened the sentiment for a market recovery.
Front-month Brent LCOc1 crude futures were trading at $39.10 per barrel at 0745 GMT, up 38 cents from their last settlement and around a third higher than their January low, when prices fell to levels not seen since 2003.
U.S. West Texas Intermediate (WTI) futures were trading at $36.42 a barrel, up half a dollar or 1.45 percent, from the last close and 40 percent above February lows.
"It looks at this stage as if it (oil) has formed a little bit of a bottom and perhaps we're going to see a sustained price in the $30s, maybe trending back up to $40 dollars at some point," said Ben Le Brun, market analyst at OptionsXpress.
"The macro picture takes all corners of the globe into account, and those corners seem to be improving ... and that's where I'm seeing the oil price tick higher." Analysts said that strong U.S. payroll data had pushed markets on Friday and early Monday, but that attention was now shifting to China where the National People's Congress opens its annual session this week.
On the supply side, U.S. energy firms cut oil rigs for an 11th week in a row to the lowest level since December 2009, data showed on Friday, as producers slash costs.
Drillers removed eight oil rigs in the week ended March 4, bringing the total count down to 392, oil services company Baker Hughes Inc (BHI.N) said. [RIG-OL-USA-BHI]
Beyond a tightening supply outlook, traders said that shifting sentiment was also lifting prices as large amounts of short positions were being closed and bets rising prices opened.
Ric Spooner, chief market analyst at CMC Markets said "there's a good prospect that Brent could hit $40 ... (it) could easily do it in the next trading session."
Despite the recent price rises and the generally more bullish outlook, analysts warned that the general glut remained in place and prices could still drop back.
I rarely post on here now as there is no real discussion about Range any more, just a handful of traders playing their blatant ramp/deramp games on daily basis when in fact none of it has any real impact on the sp. The company under the current management have got their strategy right in my opinion in the current climate of low POO, selling of the drilling operation to RRDSL and focusing on waterflood was the right way to go. We are now in a far better position than many to benefit from a recovery in the POO which seems to be gaining momentum. No doubt those that are trading this will post reams of articles claiming we are going to drop again but as nobody reads them any more it will have little effect. Lets see what else the BOD have up their sleeve in the way of M&A activity.
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