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Apologies Billy for not including WTI "May Future" . Was moving between places and happened to see oil futures and typed away.
JUNE FUTURES WTI is $21 bit will be pressured in coming days due to storage shortage in my backyard and production issues especially. Moreover Saudi giving is $5 discount for Asia.
May contracts expiring tommorow....no space for people to take delivery including refineries ....hence the rare event of negative value for oil.more negative pressure tommorow too.
https://www.google.com/amp/s/amp.theguardian.com/world/2020/apr/20/oil-prices-sink-to-20-year-low-as-un-sounds-alarm-on-to-covid-19-relief-fund
https://www.investing.com/news/commodities-news/brent-oil-plunges-as-saudis-offer-credit-to-refiners-deep-discounts-to-asia-2141275
Many are not believing the headlines. Currently
Oil WTI is 10 cents per BARRELL. Down 98% for the day.
https://www.cnbc.com/quotes/?symbol=@CL.1
Billy WTI crude is $1.13 now !!!!!!
One future contract had it below $2. Was it billy who did not get some oil stock last week? Than heaven for that.
Recent market move up unrealistic and fall to follow. Oil has dropped. Others to follow.
Imagine if airlines had cash and locked oil at $3 . In 2022 they will be reaping profits.
Correction holding at $3.01
Can you believe the race to the bottom. Jeez
Cheaper than Milk and Bottled water. Better to drink petrol on the forecourt than water.
Massacre and
1. US shale producers will go bankrupt
2. Trump will put oil tariff and new trade war starts.
3. Trump will go to punish Saudis and in swoop China to sell its arms
Looking bad
They have built a surveillance system called "SKYNET" for the good of chinese people.
https://youtu.be/CLo3e1Pak-Y
15 minutes documentary.
Coronavirus: China outbreak city Wuhan raises death toll by 50%
https://www.theguardian.com/world/2020/apr/17/china-denies-cover-up-as-wuhan-coronavirus-deaths-revised-up-50
More interesting documentary on "CCP Virus".
Video also shows how countries have started hitting back at China.
Time CCP was dismantled
https://youtu.be/sfSxne11Yjk
Another interesting documentary on Wuhan Corona Virus . 55 minutes but worth looking at over the weekend.
Recommended by Ken also :)
https://youtu.be/3bXWGxhd7ic
Forgot to add link
Daily covid tests
https://ourworldindata.org/grapher/full-list-covid-19-tests-per-day
Check this link for daily Covid19 tests per day.
In graph right hand corner click on the "+ Add Country" blue link and then remove all countries and just add one country at a time example UK or Germany or Argentina to see tests done.
I will say Novacyt has good potential however sudden jump in share price from £3 level last Friday to £5 is not supported yet.
Please try to understand that test kit productions automatically does not mean sales. With RNS of 8 million tests it should have crossed £6 but has not as maths dont support it.
Worldwide tests done are still very low. US is doing 1,50,000 PCR tests per day highest so far.
Link below.
Over 90% in US are using the tests kits of their own company like Roche, Thermofischer, Qiagen, Abbott and others granted FDA approval. Novacyt getting private sector market with smaller labs so sales not hitting millions there.
Similar scenario in Europe. Please dont presume all all using Novacyt kit.
UK at 50000 tests in May, June and centralised testing GSK etc will account for about 4 million tests as PHE will continue to produce their tests kits which is cheaper as it is their own agency.
Rest of the world tests in big countries like India, Indonesia, Gulf etc still low and not reached millions. Remember there are lot of chinese approved PCR kits also with ramped up production in China now supplying all parts of the world for a while now. Also note China did not give its FDA approval as it wants to protect its interest and sales around the world.
PLAY AROUND WITH GRAPH on link below TO KNOW TESTS BEING DONE WORLDWIDE and do the maths. The numbers shown are upto 15.4.20. Check each country if you want
https://ourworldindata.org/grapher/full-list-total-tests-for-covid-19
A better accurate antibody test to the PCR test will make Novacyt cross £5 otherwise it will drift down to £2.5 - £3 range like 4 weeks ago.
Is this the way forward? A test with less than 50% sensitivity as it will show you have antibodies even if you have had common cold. UK rejected such tests and lost over 25 million after placing order and getting in over 5 million tests.
Emirates begins on-site rapid COVID-19 testing for passengers
https://gulfnews.com/business/aviation/coronavirus-emirates-begins-on-site-rapid-covid-19-testing-for-passengers-1.1586949787785
Amen Billy. The harsher Newcastle Scottish accent voice of Brian is way better than Bonn when Brian belts out Highway to Hell
Bonn identified Brian to be suitable for ACDC. After Bonn died Brian did not have money to travel for the audition.....anyway he made it and went to Bahamas and 6 weeks after Bonnys death out came back in black
Bonn died of heroin OD and aspiration
https://ultimateclassicrock.com/brian-johnson-joins-acdc/
Sadly seeing ACDC live which was on my bucket list will not happen.
My favourite. Thunderstruck live at Donnigton from decades ago
https://youtu.be/Af0P6XEkI7Y
And the drums solo of Chris Slade something to watch....what stamina. You need 1500W of pure bass to enjoy like I have at home. Neighbours are deaf and spread away luckily.
If you have not seen worth a watch
https://www.dailymotion.com/video/x2jffce
Quite a few vids to watch tonite gentlemen.
Surely the headline will make you look. Interesting article about Dow Jones and has some validity.
www.ccn.com/this-is-the-end-of-the-dow-jones-industrial-average/
Another interesting documentary on Wuhan Corona Virus . 55 minutes but worth looking at it with a chilled beer and nothing else to do tonite :)
https://youtu.be/3bXWGxhd7ic
With results coming in fast and the negative side of lockdown and bleak next quarter or two is going to take the markets south. Sold BP at 1% loss last Friday. Got good profit with BGEO selling Friday. In cash waiting patiently my strategy. Someone asked about yourgene which is only manufacturing part of the NYCT kits and will get a few million. Both over priced currently.
Unbelievable action on Novacyt. Had enjoyed the profits previously. Has doubled from where I sold in 3 days. Market cap eye watering now.
Sad people lost on a FTSE 100 stock. Imagine people bought at 1.5 to 3£ levels and held on thinking it will recover over last year. The corrupt board said they appointed a retired FBI top guy to investigate and prove there was no scandal. Last stopped trading at 800p means about 2.4 billion in shares. Debt a whopping 6.6 billion.
Dump a stock if there is a scandal as 9 times out of 10 it will turn true. No one involved in scandals get put behind bars, the accountants, big share holders, regulators.
Same can be said about Glen. Nobody held responsible. Some banks in UAE are losing big time but not their own money wa*kers. Nothing compared to retail who list in thousands.
Those who went short late and did not buy back stand to lose also I suppose.
Looks like most stocks will do well with ftse rising about 3% to 4% tommorow. Oil stocks will do well tommorow billy re your BP hold. Bought big chunk of BP today around 329.6p with stamp across multiple ISA accounts for a one day trade. US markets on steroid till results start to pour in next month. Oil rebound will be short lived if lockdown across europe and US is extended.
Sage re Novacyt I mentioned a few days ago based on the current testing levels and labs availability across the world it is way overpriced currently for market cap of 177M despite news Monday and today. Pull back expected. In 5 weeks first time it did not pull back after Monday. Had sold and bought back over 5 weeks 70% holding to make a great profit there. Sold all Monday at 210 no regrets. Had 40% rise just rinsing and repeating. My average large hold was average 66p initially early feb. French bourse crazy buying without looking at valuation currently driving it up.
Glenda refinancing I thought is old news from end March 2020
https://www.glencore.com/media-and-insights/news/2020-Distribution-and-Revolving-Credit-Facilities
Came across this news....hooray 89 year old BE gonads working perfectly :)
https://news.sky.com/story/bernie-ecclestone-ex-formula-one-boss-to-become-a-father-again-at-89-11968037