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Sorry what did you say? There is a bomb on the bus get off it quick.......hmmm poker smh.
:))
Because I call a target below the sp you assume to know my position?
You aren't much of a poker player, are you?
P.S. For what it is worth, I could ramp pages about the potential and possibilities of Tullow. It's just not realistic to look that far ahead under today's circumstances. Somehow people are acting like we are in the eye of the storm. That's a mistake.
LTH's, take heed. Trade, claw some back, gain shares... whatever. But don't throw your last pennies in and stand back. You'll need plenty to survive and nobody knows when you will be forced to sell. Remember that.
And now, with crude oil prices through the floor, the Chinese economy has emerged from its slumber to buy it all up. “China is moving forward with plans to buy up oil for its emergency reserves after an epic price crash,” Bloomberg reported this week. “The world’s biggest importer is taking advantage of a 60 percent plunge this year to snatch up cheaper barrels for its stockpiles, a source of considerable speculation in the oil market because of the government’s reluctance to release information about their formation, size or use.”
The country intends to buy up so much crude oil in the coming weeks that they won’t have enough state-owned storage to hold it all. According to interviews with industry insiders who asked Bloomberg to maintain their anonymity, Beijing has plans to use commercial storage space as well, while also reaching out to the private sector to encourage them to fill their own tanks with cheap gas as part of a nationwide contingency plan.
“The initial target is to hold government stockpiles equivalent to 90 days of net imports, which could eventually be expanded to as much as 180 days when including commercial reserves,” the Bloomberg report continues. “Ninety days of net crude imports is about 900 million barrels [...]. While the current size of China’s state reserves is unknown, and Beijing could use a different method for calculating net imports, oil traders and analysts estimated it could amount to China buying an additional 80 million to 100 million barrels over the course of the year.”
This could be great news for the global oil market, which desperately needs to sell off some of the glut that brought oil prices so low in the first place, but likely will not make enough of a dent to correct the problem any time soon.
For what....you post ****tt
There is your admission so thanks for the clarity. Your position is clear You need the sp to go down. The end. If it doesn’t - hard lines and good luck
ps. that makes 3 recommendations now. Don't be shy.
You care about my position? Hm. That's insecurity.
And 'rises'? Maybe but first 9p wil be revisited, maybe even 5p.
P.S. You don't seem to understand shorts hedging bonds. Let's just leave it there.
Seems you are talking from a position of having sold Or have some king of short open yourself, you can speculate whichever way you like but the fact remains 88.2m shares are declared short. There will no doubt be more that have not made the register. The point is the shares have been borrowed and sold into the market so the longer you keep the position open the more you loose potential profits as the sp rises. It’s not rocket science.
Oh, and DegsyAlmomd, that's two replies that require a recommendation each. Thank you.
So eventhough they have the shares, they don't close the short which gives them and others the chance to load up cheaply.
Closing the short would drive up the sp. Why would they at this point? People are ****ting their pants. They never had it this easy AND downhere.
How very rude!
You were doing a simpleton calculation and came up with a, in practice here, useless number presenting it like the fruit of your genius and like something for people here to reckon with. (show stopper: The number is utter useless for the suggested purpose and for people here)
Nobody here knows or could know how many of those shares still need to be bought on the open market. In extremis it could be zero and they already obtained the shares needed through trading, bulk buys, swaps... to close those shorts. Your brokers could be selling those shares to and fro to you right now, who knows?
Tomas. Wow. Give us the details then genius
Really?
How many of those 88,2m shares you so admirably simply calculated are there because of hedging by the bondholders? (Of which some will never close before the debt is repaid)
You are just as clueless as middleEastMoney.
Any drop will be taken advantage of for shorts to get back some stock they need to start closing positions. 88.2m shares required as it stands. 6.3% of 1.4bn shares.
Given the headlong rush to close down production, damage to closed production drills, moth balling of refinerys, how long before we come out the other side of Covid 19 and have a shortage of oil.
There is zero joined up management to oversee an orderly cutback or reintroduction.
Refinerys take months to re start due H&S
The planet will bounce back big time, if we do see a dip in TLW or POO, in the next few days, the smart money will be wading in and buying for the longterm gain, which will be massive.
I know, get back on my bike !