Shorters have decided to punish this a bit more. Just means when it moves up it will now be faster. Need a new CEO I hear Mike Ashley could be available.
I guess no more day rates ! At least we could start paying some people who know what they are doing. If they are still on schedule then clearly DC4 is being completed and tested right about now. From the 5th December update' DC4, where first oil is now expected around the end of the first quarter'
There is a fella on CEY who has written to the FCA to ask for an investigation into why the market wasn't informed about a change of operations manager in Egypt. He claims to be a holder I believe him. I told him he has an interesting investment strategy ! Buy some shares then grass up the company for some perceived wrong doing ! Ha
Profits profit so I won't criticize anyone for taking it ! However I have been here with Petrofac before and I know this one can run and run and run. Like an oil tanker it takes hell of a lot of time to stop. All those shorts there just waiting to buy back is just the icing on the cake !
I would think there is every chance someone would offer to buy ENQ for a Billion quid as that would represent a massive 55% discount to todays already very low value !
Those 2 large trades were not algo trades they were off book. They could be a single paired trade which is a buy matched with a sell or a 3 million buy just split up into two which I think they were. So they were in my opinion buys rather than sells. Let see if we go higher tomorrow.