Member Info for bonker99

2009 burner account - a pro looking to off his ENQ shares :)

It's about the likely speed of both companies unwinding that debt with a booming oil price - not the size of the debt.

Nobody cares about debt in this (soon to be ZIRP) era, it's all about number-goes-up in a very high inflation environment so, arguably, the more debt the better ;)

A quick chart view: >63p will make her fly IMO - looks good - watch that oil price :)

https://twitter.com/bonker_99/status/1400378890086985734?s=20

I don't know about by 3pm but they're setting up a nice channel here and the last big gap-down was at 80s - filling that gap, however, is at 130s - certainly doable if the monthly Oil chart breakout on June 1st is anything to go by.

If Odey is unwinding then he'll likely be unwinding+

I have very high hopes for oil in the coming weeks/months - north of $100 in fact.

Maybe it is the hedging - right course, wrong horse?

TLW then? ;)

The TA is fine - I don't do dailies, that's for muppets :)

20.95p

Kerazy - gotta be seen as a buying opp with WTI @ $69 :)

OK, well, all I can say to you is that monthly oil chart breakout in June is very much in the spirit of the great stock market film "Margin Call" where the young kid says their model isn't just being tested, it's actually been broken for a number of weeks, i.e. that monthly chart is not predictive of anything, it's telling you that it's already happening ...

Since the *ahem* $0 per barrel punch in March 2020, we've had four up months followed by two down months, followed by four up months followed by one down month - June 2021 is the third green month since then so I have high doubts as to sixty or seventy anything being anywhere near the top of this cycle - I know for sure what numbers the options guys are fingering right now, $108 is the lowball.

Weekly RSI is @ 70 - does this feel like a big downturn macro environment right now? Because if it's not then it has to be big-up, there's no grey areas from a 70 RSI.

Must..have..inflation..

GL

You do talk some nonsense DB :)

We had a Bullish Engulfing candle yesterday closing over, and successfully back-testing, the MA50 two days on the trot - not done here against a falling MA50 since November when she did a 2.5X from the base of that move.

Moreover, the move yesterday broke out of a Bull Flag that targets, wait for it, the 26p I mentioned the other day ahead of Morgan Stanley's 26p shout today ;)

But this is all small beer ...

The macro I'd hoped for right now is playing out beautifully with the possibility of an explosion in the oil price - must..have..inflation..

WTI just tapped $69 tonight for the first time since October 2018 so with the Iranian stuff kicking off (very timely indeed ...) and the epic monthly oil chart I shared recently showing a breakout of a 12-year structure that, potentially, targets a return to the all-time high of c$150, I'm penciling in a return to c50p here, possibly as soon as early August.

Just a word of friendly advice - there's nothing wrong with scalping a few hundred quid out of a £10k day-trade but you're probably better off doing it on a share where you don't have to pay stamp duty as you're £50 down as soon as you buy, yes?

Also , be advised that the British Bulls site only works off daily candlesticks and doesn't take into account either the macro, any details about the share/company itself or moving average positions/crosses etc so I wouldn't be quoting/trading entirely on their word myself - it's a tad more complex than that ;)

LARGE FIRE REPORTED AT IRANIAN REFINERY IN TEHRAN: STATE TV

Look at the ongoing buying at 21.26p immediately after the U/T - ya gorra lol :)

$68.50

You are funny :)

There's yer MA50 shake then.

11m @ 21.5p - blimey!

I'm guessing the Yanks will be making their play in an hour or two's time - see what happens.

Just seen that - all we need for >$100 oil is some Strait of Hormuz action and there ya go ...

Nice

Oh and DB - for the record that's my 21.36p buy @ 10:31 - TVM ;)