The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Did I buy today when G reached my first potential target level? Absolutely not!
It’s all about OP not G at the moment and that’s precisely as predictable as Trump’s next move to ensure he gets re-elected.
https://invst.ly/bc2fm
I might buy a few at around 180 - but not if it falls like the proverbial knife - and keeping a wedge back for the depths of the unthinkable 170s. But with Iran on a potential reprieve and global demand running slow the charts don't offer much comfort…..
https://invst.ly/bc2dj
Article: Oil Heads for Biggest Loss in 7 Weeks as Demand Worries Bite
https://uk.investing.com/news/commodities-news/oil-heads-for-biggest-loss-in-7-weeks-as-demand-worries-bite-1920839
Investing.com
My point is we cant measure the success of the buyback until a much long timeframe, of course the buyback couldn't protect us from a lower o.p - on that note isn't oil up today and we're still down - that's not oil is it, could be post buyback volume change which is a risk - its all speculation obviously
Yes Leem - hopefully we'll start to see progress on those issues now there's cash to fuel progress.
CoV: They were small quantities in general weren't they? carefully avoiding driving the price up - ie absorbing what came onto the market at low levels. I'm assuming PI's but am I naive ? Antiquenick seems to think MM's play games - I don't know enough about the mechanisms to offer a view. All I do know is that the Oil co's I regularly compare (RDS, DNO, GKP, G and PMO) seem to have a fairly consistent relationship and you can quickly spot when one goes out of step - as G did between 1st May and 18th June . On the face of it the buybacks have restored G's relative position - unexciting as it is. ATB
This and GKP seem to me to be a cash cow for the MM's. They seem to earn a good living playing with these stocks, it seems like taking candy from a kid.
Great views and discussion today. Ultimately we can discuss buy backs etc all day long. I think it was a good move and it firmed the price up a little. Still believe that Genel managements focus should remain on delivery and results. Including landing bina bawi, acquisitions and building the business. We are not seeing much evidence of this (yet). They need to understand and appreciate that the market won’t attribute value until we see some proof of execution. Bill has to be aware of this. Short term measures and promises won’t cut it. It is taking to long for them to get this imo. Massive potential and rerate if they do- and that’s what we are positioned here for. Huge upside. Good weekend all
Boyobach the fact they only had to buy 3M worth of stock to keep us 10p higher must be a plus . But who did they acquire that stock from, PI,s or the manipulators.
bunks:
The buyback gathered up shares from those who were inclined to sell at a low price relative to OP - this should (and has) improved performance against OP but it does not (and cannot) protect the sp if OP falls. Today G is about 10p up on where it might have been given $63 OP had the buybacks not happened. Just look at DNO and GKP here (and remember that GKP is also doing buybacks): https://invst.ly/bbr5j
I’m on holiday but stupidly looked in here to see Genel is still being Genel. Can’t fathom how this share is so terrible. More cash and more oil and we just drop month after month. I thought that they would have a plan Bunks, post the buy back to build on the momentum with a string of newsflow. I should known better however! At least results soon and we can see what’s going on with progress. Not like we are told any other time or news is used to bolster the price lol, anyway back to the sun. Oil has recovered a bit by looks of things not that Genel ever recovers with it. I also note that oil dropped $6 on deescalation of Iran tension. Now it’s back on with a drone strike oil has risen $1.... same old same old, bs manipulated market- hedge funds will be lapping it up
Struggling in casino hour, down more than most. This is why some think this buy back malarkey is not the way to go, If you artificially prop the price up over a period of time of course the sp will struggle when you stop, why wouldn't it.....
Morning folks, good to see a recovery in oil from yesterday evening ,$61.5 looked scary . my reference to 177 was the average to my buying in prices on the last dip in oil in June . No intention to deramp but i was lucky to even get stock below 168p .
Different strokes for different folks but for me I don't see over 3 times the drop today tomorrow, which is what you would require for 177p
177p tomorrow posted at 1600? Really?
Unfortunately, bunks, it can't be ruled out on the numbers. But I should declare that CoV and I obviously share some interest in a potential buy point. There are two reasons that 177 may prove over-optimistic for a buyer:
1) The buyback has so far lifted G to a 3x $Brent sp, so at Brent= $60 the sp might just hold at 180p.
2) OP has bounced slightly - (was that because of today's drone shooting by the US?) - If $62 holds then G should find support around 183p +
From a 'buyer' perspective though, 177 only represents a weakening to 2.95 x $60 Brent and that OP was seriously on the cards this afternoon (for OANDA as well as LCO) . Which is why I posted the comment (on the other thread) 'it could be a risky prospect {to buy} at 188 or even 183.'
I can't find any bullish comments about OP tonight - so I'm bracing for the worst....
Brent was about $62.00 at closing auction time, 4.35pm.
177p tomorrow posted at 1600? Really? Has the o.p declined since we closed?
Yes CoV - similar reasons to me offloading around 20% at the end of the buyback.
I think we may well have an opportunity to top back up shortly. I never go all in/out myself - always keep the core holding and use trading profits to average the cost per share down. So whether it goes up or down I've usually got at least one reason to be cheerful.
Great call comeonvog
Master stroke ....
Good luck.
Hawkey
Have to admit to selling all my stock last week, couldn't see it holding over £2 so was a good opportunity to bailout. 3x 62 Boyobach could give me a nice buying opp but looking at poo i might be lucky and get 177p tomorrow.