Member Info for Bluelight

There we go then. At least there's a reason now. Overdone moves as always. That added to people not knowing what was going on caused it to drop. Now stabilising, and returning to a bit of normality. Wake me when we reach 800.

I just think its a classic tree shake. The fact there's literally no news or rumours to cause it points to a bit of a concerted effort to test holders resolve. Personally I'm happy to let it ride until I get my 800 target. PFC has always been volatile, just part of the game.

Nah there's no news. Its just a random move. Very strange indeed this mornings action.

Indeed. Its a great play today. Its moving on nothing, on the back of rising oil and a rising oil sector today. Proper tree shake this one, lets see how it pans out. I personally added more at 630 as that was a decent price for me.

Cant believe there would be a chance to buy for 600 again, remarkable volatility. Happy days

From yesterday, but I missed it. Morgan Stanley today reaffirms its underweight investment rating on Petrofac Ltd (LON:PFC) and raised its price target to 720p (from 475p).

Not sure, but I like it. Picked up some more this morning. Oils pushing $80, so I think this is a classic low open to spike.

Plus the dividend payment date will provide a boost like it usually does as people reinvest it.

And of course, IPO valuations rarely reflect reality around valuations. Just look at the ridiculous valuations of every tech and internet IPO. Most lose billions every year but are still valued as some of the most expensive global companies. Companies are worth what people are willing to pay, not actually what they are worth. Just wish PFC was like that too ;)

People are always doubtful about everything, its why smarter people than them make money. It will go ahead when the Saudis are happy with the price and the sweeteners they receive from the exchanges. I don't doubt it will go ahead (not that it has any impact on PFC whatsoever, just my broader view). Every fund under the sun will buy them when it gets an IPO, regardless of info, why... Because it will go up. Enough people expect it so it happens. Complete rubbish reason of course, but you can look at virtually any IPO with hype and that hype always pushes them up. Self fulfilling

The markets don't care one bit about their transparency. London and New York only care about the money it will bring them, not about details. They'd take them on in a listing even if they just provided a blank prospectus. Its business, and the Saudis have a lot of money to bring to the market that wins their business.

No. This has 800 written all over it now, the rise is so consistent.

The big players have been consistently shorting (part of the reason we've seen a nice steady rise). Any additional positions seem to be speculative. Still looks a bad decision from them and I'm sure they are under pressure to reduce. Not a wise thing to short into an uptrend.

I'd rather stab myself in the eye with a fork

And we are now up on last nights close. I imagine there are a few gutted people today who sold ahead of the divi date in the hope it would drop

I made a lot of money on TW in the boom, but for me that sector has already reached its cyclical high. House prices are stagnant to falling. Housing sector not a good investment case for me.

Yep and Facebook had great results so should support the markets today. Its building to be a good day I think

I can see a close above 600 today, even with the divi payment

You are the most indecisive person I've ever known, and that includes my Mrs! You've been oohing and ahhing from the 400s. Just set a price and stick to it. Stop trying to make a percent or two here and there, or you will miss the wood for the trees.

I wouldn't get too hung up on oil. PFC is engaged in multiple sectors, oil, gas, refining etc. I've mentioned before that other sectors have been pretty strong even prior to oils up move, and Jefferies touched on this in their upgrade. There's no doubt investment is picking up in these sectors which means more business for PFC. Finally seems to be more recognition of this in the market which is a good thing going forwards.