Member Info for Duncan_Thickett

I think it’s just Algo manipulation and bored PI’s selling in a news vacuum. To make money on the market you need patience. Quoting from the FT:

“The 10 analysts offering 12 month price targets for Micro Focus International plc have a median target of 517.42, with a high estimate of 1,373.04 and a low estimate of 298.45. The median estimate represents a 33.05% increase from the last price of 388.90.”

Mine neither - HL and IG.

Good news! We’re due a blue day, or ten.

It’ll be interesting to see if any shorts have reduced after the end of play today. It would be a good time to do it with MCRO heading back over a fiver.

There was no change to the declared shorts on Friday, which indicates to me this is a brief coordinated short attack designed to flush out weak holders. They’ve been very successful, again.

All the doomsters are out. That means one thing - buy.

8.8c, ex div 23/7

Holding 11,000 of these babies now. Don't be scared into selling and losing your hard earned cash - that what the market wants you to do. There's nothing wrong with this company.

Ex-div in 3 weeks, at which point we'll undoubtedly be well north of a fiver after todays shenanigans.

Can’t see Mr Lufkin on the list. have we been bowled another googly?

https://www.thelawpages.com/court-hearings-lists/Southwark-Crown-Court.php

No coincidence on the timing of this article which does nothing but rehash old news.

One can only assume the writers, or the Guardian editor, are looking for a cheap buy in when Petrofac's name is dragged through the mud once again tomorrow. Maybe even they're on the pay roll of institutional shorters?

Me too.

I bought just under 50000 Tuesday morning between 140 and 142. I couldn't believe Genel's 137 SP over the bank holiday weekend, way too tempting.

Sentiment seems to have turned positive again, and hopefully we'll get the rest of the outstanding March payment shortly to keep the momentum going.

Thanks for the charting and commentary by Boyobach, and straight talking by Bunks, amongst others, both of which influenced my decision to move across from Petrofac.

A dozen off book trades of 100000 shares or more today. Very interesting. Please excuse any dodgy formatting below, copy and paste job.

DT

tradeTime currency price volume Trade Value type
15:35:59 GBX 144.5 533567 771004.315 Off-Book
14:05:48 GBX 147.254 350000 515389 Off-Book
13:59:53 GBX 147.845 250000 369612.5 Off-Book
13:51:17 GBX 147.421 250000 368552.5 Off-Book
13:32:55 GBX 148 250000 370000 Off-Book
11:40:32 GBX 147.785 250000 369462.5 Off-Book
15:06:47 GBX 145 226041 327759.45 Off-Book
08:54:56 GBX 147.7 180979 267305.983 Off-Book
08:55:13 GBX 147.7 180000 265860 Off-Book
10:04:54 GBX 147.985 148000 219017.8 Off-Book
10:44:05 GBX 148 123252 182412.96 Off-Book
14:17:24 GBX 146.44 100000 146440 Off-Book

chunky trade just went through:

14:56:43 147.50 450,000 Buy* 147.10 147.50 663.75k

I’m more optimistic. We rose from 130 to 145 on no news last week, in the face of a nervous and paranoid market.

A lot of short term profit takers / traders from the 91 - 100 levels will have long departed the scene, with new money coming in. The macro issues are always there, whether it’s Gaza, North Korea, Inflation, Brexit, Scottish Independence, etc. There’s always something that people get their knickers in a twist over. Petrofac is still in the recovery phase after a triple whammy of bad news since January (Lufkin / UAE / COVID results). It’s possible we could see £2 before any SFO closure, which could happen soon after the Lufkin hearing next month. £3 by the end of June?

Sentiment rules the stock market, and investors will be licking their lips after looking at our chart and the dramatic reduction in shorts. This post may sound a bit rampy, but I’ll stick my neck out 150 tomorrow and say 160 next Friday.

DT

Yes Paddyboy, I nearly topsliced too. I just have to keep reminding myself each additional 10p is £5k pure profit!

Closing price on 14/5 is 145. Synchronicity.

No change in the shorts yesterday. What a great week!

DT

Yes, WorldQuant reduced by 0.11% yesterday, and are now at 0.57%. Overall reportable shorts 2.82%.

Decent 140000 share buy / £200k, 90 seconds before the close

Come on 140, let's have you!

Not been there since January.

Closer to 150 than 120. Happy days.

sorry, posted already.