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I short what I'm familiar with. Things I think I can spot patterns with. So I tend to learn about a stock a hang around it for a while until I think I need to move on. I've been burnt in the early days doing this by moving into stocks I don't understand.
For the record. I think long term, IAG is a good bet. That doesn't mean I'd not like to make some money along the way though and nothing goes up in a straight line.
I'm not saying I will achieve this. That's just my goal which I see as achievable (hopefully).
I've just opened a small short at 100.75 for £75 a point as the dow doesn't look super strong on open and may drag this back down into the 99/98's
Why? Because they were in profit and I could see this was going to turn. So now I can open them again when this goes a little higher.
Rinse and repeat hopefully.
Do you actually know how spreadbetting works sund or are you just going to keep quoting that 77% stat? It's probably true because 77% of people just think it's easy to make money but you need to be disciplined.
If you want to trade stats, here's one for you. 90% of people lose their money in the stock market.
My shorts made me just under £500 as they were a total of £200 a point. if I could make £500 a day that's £125k a year tax free on top of my full time job. I'm not an liar though so I'm not going to claim I will make £500 a day but if I can clear £30k profit for the year that's a nice to boost to my full time wage.
Option 1 please AC
Kwateng's announcement that the debt plan is being brought forward will likely prop up the market today. I just closed some small shorts I had on this at 98.45 with a view to re-entering if this goes to 101+ again.
Correction to your post AC
My God, this guy is stupid. I am trying to help you guys and SOME of you guys don't want it.
Most of us value your opinion.
There are a lot of other factors in play. Read the posts below for a glimpse into some of them. Plus, the cap hasn't actually come off yet. They could well delay it once more.
AC: what about the non technical factors. Do you take them into account.
Results due at the end of the month which will show a profit and possibly a dividend (doubtful but a possibility)
Passenger cap being lifted at the end of the month
Pound coming out of its slump and general improvement in the markets meaning people have more (or at least think they do) money to spend on holidays.
So I see you warning about the end of the month going to dip badly but you're ignoring those things above. Surely they will have an impact on the SP?
Just ignore the spambot Jono. Its not worth your time. As you say. Its just here to ramp. It can not provide any insight into the points you raise.
13 threads started today with a small statement in most of them. Only 1 thread got a reply but they keep posting. Sir Spamalot
100% agree on Jamacia Jono. Same old story fore 3 years now.
From 14th January 2020
"We are very pleased with the extension that has been granted. We have seen additional interest in the licence towards the end of 2019, and this extension will allow those parties to fully evaluate this excellent opportunity."
Why haven't the q2 results come out? Do you know?
I'm not saying it can't be done. Any stock could be pumped up then dumped. Doing it on stocks of a certain size is very hard though. You'd need a lot of cash or an army of idiots buying it up. It is my opinions that the big boys don't play games with pump and dumps. They're not going to take risks like that. Not with the amounts of money they have responsibility for.
P&D's are done on microcaps as it's very easy to move them 10-50% in a day or 2. You just can't do that here so I'm saying it's not happening and a post with that title and no other detail is a pointless attempt at deramping or just stupidity.
Pump and dump on a £5b company? I don't think so.
Yes it's entirely possible. I agree with sipps that the results will be good but this is just my opinion and I'm prepared to risk this SP falling if the results are not great or just OK. I'd be very surprised if they were bad but I'm willing to risk my current profit on that too.
If you're in profit and you're not willing to take the risk then sell now and you'll win whatever happens.
Am I misunderstanding Jono's post on cash then GH
"Basically he said that the sale of the Italian and North Sea assets covered the capex in Egypt and the cash generated from Egypt resulted in the $3.8m cash balance.
Nonsense its the other way around, if they didn't received the $3.8m from the divestment of the Italian and North Sea assets what would have covered the capex, Egypt of course, and the cash balance would have been 0."
Egypt is barely covering its own cost and paying wages ($2.5m a year) and other outgoings, and it not be generating enough and could be loss making!
We start H2 with $3.8m plus guaranteed another $1m from Crown, its a good start but if Egypt doesn't turn around then this will soon get eaten up and remember we need $1.25m to pay these guys wages right away for next 6 months."
So right at this moment, is it not true to say that Egypt is paying for itself but making very little on top of that.
Just a few example of FormerFD being an absolute muppet.
Ramping this share by posting multiple times even though no one is replying. See last Wed (3rd Aug) from 3pm until 8:09 the next day as an example
Professing that he knows more than anyone who doesn't post something positive about UOG.
Talking down to people. Assuming he/she makes more money than them and is generally more successful, even though we know nothing about each other
Trying not to acknowledge that it's been proven UOG make no money off Egypt because all funds go into new well drills to keep up with the decline of current ones.
You were a little premature with this post. I don't expect TCAP to rise every day so a red day today isn't the end of the world. Maybe everyone who wants to be in before results is already in
They're struggling to keep 1500 for 1 year, nevermind 10.
You're welcome
Hi All,
I used to be a holder of UOG. It was my only stock and I had a large amount in it. I used to be saying the same things. "This is so undervalued" "xxmcap for xx bopd is madness" but it was only after reading one poster on here(I forget who but I owe him a pint) that I saw sense. He was basically pointing out what Jono is now.
UOG isn't growing in value and isn't making the mega money that some posters would have you believe as rhe money theyre making on Egypt is also being spent on Egypt to constantly drill new wells to keep up with the decline of current ones. Look back over the last few years and see the production figures. Plus the psc terms are terrible. All in all, there is only Jamacia that will ever move this company and they have been dangling thst carrot for a long time now. Personally I dont think it will ever happen and if it did UOG would need to bring someone in to foot a most of the huge bill to drill it and would likely only get a small cut of production.
The worse bit though is while all of this has been going on, Brian and the BOD have been compensating themselves handsomely and avoiding certain questions at every shareholder call. Look at the recent post that claims the secretary misunderstood the question. She didn't. Brian just didn't want to answer it.
So for years now Brian and his mates have been living the high life while creating no value for the company. The salva sale was the first thing they have done in ages. They're not operator in Egypt so they have nothing to do there. Just sit back and watch their wages and huge bonus roll in year after year.