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HC, agreed shorts are not always correct & at times they rightly get squeezed out & lose big. The problem though is their presence as they keep attacking the SP relentlessly down & BR are the worst for it. Personally i was happy to take a position here at 250 & still think it's value @ that level in the long run. i only bailed out due to the shorts. Wil watch where this goes next week & will reenter at some point either way!
BR and other short outfits are not always correct. BR got a kicking with their short on Morrisons a week ago. Lets hope its repeated with WG. That said my stop at 186p remains.
HC
i think the little bounce back may be short lived. BR upped their short position on Thursday
This sounds like good news for WG with a cap at $18million on this investigation. They self reported on these legacy issues so is this a reason for a low settlement or are their other cases with the SFO. Like to know if the 200m guidance is now deemed a high bar on legacy issues.
HC
On the question of Joe Biden. A respected stateman and so far so good.
After 4 years of watching that Fat Orange fool diminish the US on the world stage it will take time to correct his total failure as President. Did we expect anything better. Not really. This bully of a gameshow host, and wannabee gangster was always going to fail. Problem was we had no idea he would cause the death of over 500,000 poor souls in the process.
Time will not be kind to this fool and the US legal system will see him busted, and he sychophants.
HC
John Wood Group unit to pay $18 mln to settle bribery charges -U.S. Justice Department
Fri, 25th Jun 2021 20:04Thomson Reuters
WASHINGTON, June 25 (Reuters) - Amec Foster Wheeler Energy
Ltd, a subsidiary of UK-based engineering company John Wood
Group Plc, has agreed to pay $18 million to resolve criminal
charges stemming from a scheme to pay bribes to officials in
Brazil, the U.S. Justice Department said on Friday.
(Reporting by Eric Beech; Editing by Mohammad Zargham)
Interested in FSJ too and the selling down of the US strategic reserves. Geez Joe, worst President ever.
Feel PFC is on the home straight and will buy on dips. SFO, beyond caring tbh as the averages are getting lower all the time.
Good news would delight on both though so don't get me wrong :)
Thinks it called 'sitting on the fence'. Such wisdom is aamazing and I'm sure we can read and learn.
Sad really. All theory.of course.
HC
Mary,
Clearly there were not many shares available at the low prices...bit of an odd sudden drop late yesterday afternoon.... they have been bought up and the shelves are now empty ..
Friday afternoon ...so may be a dip down into the weekend...
Petrofac has a "pre-close trading update ahead of the half year results " on Monday
..so I will wait now...and see what they have to say
D_K
Will not go down forever, ease in and leave to recover, works for me most times, all paid for only and sleep at night, paper losses are never realised losses in most cases.
Part of a diverse portfoiio.
support last time when I traded this so profitably and made a small fortune, all the way up to 360. Have a super low average now and see this as the double bottom when it gets there inevitably. Plenty of bounces along the way but if it gets there (hopefully not) then kitchen sink for me.
DYOR
An opinion only, no h8rs please.
GLA
187 is significant support, but it has to get through 202 which is also strong
MaryBr how have you managed to pick 186p ? Is your guess based on a gut feeling or have you done some analysis ? I think 2 will be the lowest as long as oil holds it's price. Maybe even 205. Did you all see JP gave this a rating of 350p yesterday lol
Picked up a few at 211p - had too :)
Tranche 1
Happy.
Look like it is trying to find the inflexion at the moment.
My point is 186p
I believe the US market will drag this down further
I was looking at getting back in here the other day when it dipped to low 220s. Thought better to wait for the results just in case. Glad i did. Today's price is a bargain however with BR already in with a vengeance, they will clobber this further on those earnings figures. Will look again when nearer £2. A great long termer this one but on the drop for now IMO!
Aucuba
For private investors I nicely worded Update with lots of great phrases and key words would have all been super nice ..
but..
The City and the Analysts are not interested in all of that...they know EXACTLY what they are looking for....and they act purely on what they see in the data...and of course what they know themselves about the sector ...they know the situation
For whatever is going on in other parts of the business...the Project side is weighing things down... and some will no doubt be asking whether it is just a cycle waiting for recovery or a structural change going on.. meaning permanent ..change ..
The answer remains to be seen ..but risk is being priced accordingly with the Projects side - c'est la vie
Stockready
I agree. I appreciate what was said by Pokerchips about not over egging things but they seem to go far too far in the other direction.
I read the RNS and I would fire the person who put this together
lots it possitives happening and wordings are so miserablly and so weakly put together.
Market doesn't take this; till they read between the lines, there is no good summary either, totally weak RNS put together by morans, seems they love to shoot themselves in the foot.
This company have a lot going for it and will make a come back, I am watching it closely for reentry and wish everyone the best because I know this will come back up soon.
GLA
IMHO
MaryBR190
I very much respect your opinion, which is always reasoned and well expressed.
However, I am looking at the oil price and the current shortage of new supply coming online and can reach only one conclusion. There will be an inflexion point and when it comes, it could quite rapid and powerful.
Also, the transition of Big Oil has only just begun so (one would hope and expect) that Wood Group will benefit from more investment in wind farms and hydrogen etc. by the supermajors. I guess timing is the issue and the challenge.
Best
Happy
There is very little you can do to better present the fact that projects is ... having a tough time...... expectation,hopes and all that ...have to kept within the realms of realism...they cant suggest recovery as some factual event awaiting a date .... it is still an unknown scenario as to just how the recovery of the sector projects will turn out...and everyone knows that...
Otherwise you get yourself accused later on of being "misleading"....
Was so tempted to ask a question about the return of a dividend but bottled it lol. I wonder how they screen the callers?
Thanks Aucuba.
The recovery is delayed but will come again. Useful to know his dour personality is not just downbeat.
Expect this to be the biggest gainer before too long.