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Does look oversold, but not much interest in any rebound....see what Monday brings.
The Unaoil court case is a side destraction, than a main cause for the sell off ...I agree with Mark about related to oil and
"the killer virus"
The EOY results are February 25th, so that would bring news of the final dividend I guess
360p with a 20% range would take it to 430p .... i will look at that as a near term range
I think is more about the collapse of poo and Corona virus affecting global demand more oil than the court case
I think it will back in the 420 - 500 range when it stabilises (unless PFC gets charged but then the reverse is true if investigation is drop)
At this price the risk reward is excellent IMHO
Can’t see that PFC are looking for a new range on SP, directors still buying up until very recently around 4.20p
I understand the logic of a bit of a dip but can’t help thinking this dip is overplayed. Nothing changed dramatically with the fundamentals, order book needs to improve but the market is reporting increased activity. PFC have diversified into wind and have acquired interests in the Permian Basin. Media (MEED) reported PFC on the cusp of a £1billion contract award (reported previously on this board) which may fill the gap in TO. General sentiment on oil is down at present but it is not having the same effect on other Cos in the same market as PFC.
Am I missing something?
Porker, so you dont find it fun any more well PFC you need TO bee in and it will come back if this c/c goes belly up pfc case will be drooped and it will rise again
I gave up holding anything "long term" and nowadays I just try and buy on these kind of crisis, big drop days....and I dont bother buying at a "middle of the range" price. I also trade a lot more than I used to, and take profits earlier than I used to.
I realised I could more easily mentally let go of any extra profit not realised than I could be being p*ssed off sitting on a loss and having a chunk of my capital frozen in some kind of slow recovery.
The market has become much more volatile and changes course in tighter ranges than it used to, so I am having to work harder trying to watch ....it is more tiring and less "fun" than it used to be...but..I am still making money, but on a more cautious basis
I mean you get Kaz dropping 8% yesterday, Wood Group dropped 9% on one day the other week, FXPO 6% yesterday, Saga 8% too.... and all these trading update crashes...it is a fragile market I think and one step wrong ...and wham !! I too bought Saga on that crash
I have no fears about selling at a loss if I think the market is changing. I look to then pick up the loss on the way back up....but sure ..it isnt easy ...
I have a 112% profit in one AIM share that is helping me alot and I am praying that those guys make it big, it is a product winner if they get the big boys in....If !!
I have done well with Wood Group but even there I can no longer tell where the hell the SP is heading..it is just snakes and ladders for traders
It isnt easy and anyone who tells you that they can see the future is guessing like the rest of us....the markets dont really know even what the end of next week is going to look like ....you never quite know what is next on the horizon !!
Good luck to all
I personally, think PFC will trade in a lower range this year, than last year, given the reduced revenue coming through this year..I like the BOD..they know what they are doing. They are probably taking this down to create a new range to then create the profit creation cycle range ....this price of 358p is getting quite tempting..
Marcus ,
If I was you , buying recovery stocks: Petrofac keep but this has not been played out yet.
long term holding in Lloyds, ditch it,
buying bluechip: BP, used to be quite good, but in the future will come up again green taxes
I'm currently in the red on every holding I have and for the first time in about 12 months my capital is less than what I invested. I've tried different strategies
long term holding in Lloyds,
buying bluechip: Centrica, BP, BT
buying recovery stocks: Petrofac/Saga,
Green investing: SMDS
I'm not complaining as they were my own choices, but my investments in boring trackers and funds as of today are more profitable than my own judgements. Hopefully given another few years some of these should come good, but when you are down across the board you do start to question the common understanding that long term stocks provide better returns.
If it makes you feel better, I've got Centrica at £3.50, I've put those in a time capsule for some alien civilisation to sell off in about 2175!
Not even looked at my average but I have a stack over 6.00, they will linger in a bottom draw for a good while I think
With all the new contracts secured this should rise soon well I hope so my average is £4.50 pe share.