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Likewise I’ve traded Genel one way or another since 2016, got in around the 65p mark back then, held it until about 130ish and got out, unfortunately missed making a lot more on that. Got into it again in March this year and have been in and out several times since. It’s worked well for me and certainly been one of the better oil plays that I’ve had. Does move in it’s own mysterious way though.
Let’s see, I’m happy to sit on Shell for some years to come and just collect the dividend. This will come good again. At least you are still on the sidelines and can get it at even better prices. But buying when the tide has finally turned is never a bad move compared to trying to catch the very bottoms
Genel is a total punt for me Marfthew, though I've been in it one way or another for years. It has to be traded though.
Sadly, RDS is currently becoming the same, which was not my intention.
Straight answer to your question is I don't know. I have levels in mind which are really rather obvious: 930 is the nearest - as it's on trend with the March low - with everyone's favourite 890 a distinct possibility at the far end. The 40p difference represents 4.5% if I get it wrong - not a massive mistake BUT could it go lower than 890? I find that timing the market on the way down is a mugs game and I might even wait until its 970 again but defo on the way up. Much depends on how my cash is doing elsewhere, which is currently much better than here! GL
Marfthew I’d be very pleased to be in anywhere near March low which was I believe 890 so looking at 900-925
Hi Boyobach,
Agree, charts don’t make pretty viewing at the minute. However the selling will have to stop at some point, tomorrow it will be dipping into oversold territory and will like test the March lows.
As I think you’ve said before, it’s being pulled there like a magnet, I should have known better and stayed away until that point. Made a nice sum last week day trading it but now stuck.
I will probably add again at the March lows and see if I can unwind my current position for little to no loss of support holds and there’s a bounce, I’ll then sit on the sidelines for a little while and wait for a clearer picture.
What level would you be tempted at? Genel still holding up well enough also I see, performed well given current sentiment
The last hour can be so decisive Marfthew - let’s see what tomorrow brings, a bit more pain before things get better methinks: https://invst.ly/sb4hz
Reminds me of Nick Drake:
When the day is done
Down to earth then sinks the sun
Along with everything that was lost and won
When the day is done
Unless there is some major unforeseen positive development in the very near future, there will be no bounce, rather a drift lower and a bottoming out until such time as the mood turns more positive. When it does, the climb will prove rather rapid.
It’s a slippery slope at the minute. I’m stuck in a position now too. Both Shell and BP are consistently the two worst performing big oil stocks every day, Total up 4% today, Exxon up yesterday and today.
Clearly going to both touch the lows of March, probably tomorrow, I’m at least hoping for a good level of support there and a decent bounce. Where I’ll probably be out again for now until there’s a clearer picture on Covid.
I've dipped in and out of Shell several times over the past decade, and took the plunge again with a large buy quite recently, just as the share price was showing signs of an upward trend. No sooner had I done that than the oil price again weakened, so I'm currently on a 9% loss. But so many people seem to be overlooking just how cheap this share now is, whilst I'm sure just as many, especially large institutional investors with cash to spare, are not! They will be hoovering up quite surreptitiously, of that there can be no doubt. Regardless of Covid, politics, current demands on energy, and overall near term uncertainty, Shell will ultimately come shining through. Management are having to play a fine balancing act, adapting to current market conditions, and positioning themselves for a leaner, greener future. In my opinion they are playing the field most adeptly. I have no doubt that within 12 months, my current 9% loss, will become a 90% profit