Member Info for Auson

SteveJones999,

Re the bullionvault article, she does suggest that the reason gold dropped was because it dropped below $1835 support, its a bit chicken and egg and I think it more likely the manipulators used the Powell news to dump a massive amount of paper gold on the market as they often do. Also no mention of the net long positioning in gold which has been going on for weeks. I suspect the this latest Gold dip will be bought quite aggressively.

I don't want to mix up my gardening metaphors but I take it Bulb didn't think it needed the Hedge.

Of the two yes Powell pehaps is considered the hawk. There was an increase in long gold positioning on the CFTC last week from 250k to 259k perhaps this was in anticipation of a new Fed Chair in which case we could have seen $1900 POG today. If these extra longs liquidated it would explain the sudden gold price drop. Still looking for $1930s next for POG

hitman1a,

I think it will bounce to 21, then after that depends on Brent.

CHRIS55,

You make a good point, but doesn't it depend on the demand for the stock from institutions ?
Although the underwriters could sell at a small loss I am sure they would rather sell for a premium.
I see Schroders increased recently to 17.02%
Asfari holds 17.12%
Also the 13% that was on loan on euroclear.

JG68,
On euroclear
Wood Group had 7.44% stock on loan at end October
Petrofac had 13.09%

Quetta86,

Didn't those vultures still have to pay $1.4billion for Premier, even with all those shorting shenanigans. Its worth noting the stock on loan on Premier got to over 31% around double the high here.
I would also think the shorters here would be after the 115 shares to cover for an easy win..its been going on a lot of years and there are the borrow fees to consider.

Pokerchips,

Well said, I think perhaps a Private bording school education might help get into the mnd set.
Also must be a lot easier to make/ loose money when most of it is the clients and you will still get paid whatever the outcome.

Ammu123,

Exxon's market cap is $269billion Shell $174billion BP $65billion.
Ok its not the $1 trillion of Bitcoin or Tesla, but shows investors are interested in fossil fuel.
I quite liked your Straton Oakmont sign off. Did you see the Jordan Belfort interview where he said bitcoin was a Ponzi ?

January2,

I was reading that China had a planned SPR release prior to the Biden conversation. Apparently they released some Gasoline recently as supplies were tight.
I think if they have an agreement with Russia that it might be more damaging to the US to keep Oil prices high, they might be ok with this ( after all they can just buy cheap grey market crude from Iran and Venezuela )
That said I do see Brent falling a 2 or 3 more bucks from here (short term)

shareminator,

FRES was quite heavily shorted ( possibly because of the new labour laws about to take effect in Mexico ) HOC ( we all know about the political wranglings over in Peru ) POLY ( possibly risks due to Russia, and the CEO said the chip shortage would effect production ) HUM ( well perhaps lets not go there, are they not from the Jewelery Quarter in Birmingham ? )

Wouldn't Brent need to drop into the $60s next year to render more hedges now to be an effective strategy ?
Seems to make sense to me to only hedge more than you need to if the market is in contango.

Ammu could always offer to buy him out. I wonder how much he would deem acceptable for his shares ?

There was some talk a few years back about the SPR being somewhat contaminated I think it was with minerals etc that had leached out the rocks. Apparently some of the buyers had complained about extra processing required and wouldn't be wanting anymore.
Anyone know anything about this ?

Sotolo,

Do you happen to know if there was any fuel hedging this year ?

Ammu123,

IR do not need to release this information if it will not impact guidance. Therefore we know that so far the maintenance or whatever it is has NOT resulted in lower guidance.

Hi Sotolo,

Are wages and fuel for example paid in Egyptian pounds ?

I don't think you guys need to worry too much about institutions. Morning star shows a lot of Insti buying July to Sept. Price paid must have been 21-26p Brent around $66-$74.
Net buying 57.41M shares
www morningstar com/stocks/xlon/enq/ownership

RazorsEdge,

The 6.7m buy was offbook so most probably was an order taken this morning, which would explain the rapid rise to 1.06. It was dated the 12th so it 'should' be todays order, however it could have been taken by a market maker yesterday and put through today.. in which case it could have been a sell . I guess it depends how much of a discount the market makers would give to take that sort of size.

Probably not Corona jitters, The USA delegation apparently spoke to the Russian delegation about oil prices ( and bringing them down ) at COP26
Oh the hypocracy, hard to believe a man would show up to a climate change conference with two 747s a couple of helicopters and a fleet of gas guzzling yuge motor cars ( apparently averaging 9mpg each )