Member Info for fogthemogg

My point was, supposed share price tailwinds do not lift FRES therefore it remains far more exposed than others to downturns. Hence it's closer to 400s than 600s, despite $2400 gold/$27 silver and rate cuts around the corner.

Gotta give it to Koko, he's still ramping even when the market is on fire.

"Opportunity abounds for those with long time horizons."

Were you saying that 5 years at 150p? 🤔

You might not see it WeirdPal, but the slowdown of global industry is quite clear.

OPEC saw it many moons ago, why do you think they kept scrambling to cut?

"The decline in the MXN vs USD should be really positive for FRES."

Next level hopium. Results did nothing for share price and FRES has dumped 7% since Friday with PMs largely unchanged. Share price to PM price ratio continues to worsen, even weaker YoY and YTD.

A recession is when your neighbour loses his job, a depression is when you lose yours.

Surely you've been around long enough to know that FRES doesn't closely track silver? Intraday or multiyear, take your pick. Even when silver was up c2% earlier in the session, FRES was barely green.

FRES was higher last December, higher after H1/23's shocking results and nearly touched 1000p in early 2023...

Nailed under 600p with 400k volume an hour before close. There are just no buyers.

More people are realising what some have known for a while, that oil supply is not tight and the industrial economy is in far worse shape than the massaged data previously suggested.

"Down only 7% on 52 week highs."

The 52-week high being a historical multiyear support level. Half full versus half empty I guess 😂

@fewdollarsmore

We might be a little bit mad to invest in Tullow, but we're not stark raving bonkers enough to buy into your ponzi penny stocks. 5-year chart says you'd be 99% down? 😂

"it will be different this time...."

The most dangerous words in investing :)

Brent barely holding $80 with Israel and Iran on the brink whilst we're in the middle of the driving season.

Brent struggling to hold $80 during the driving season and potential all-out war between Israel and Iran.

OPEC probably starting to sweat.

DK, FRES didn't get the memo again...A lot of speculators won't want to hold risk assets over the weekend.

A 25bps cut in September and perhaps 50-75bps next year doesn't come close to offsetting the damage done (and still to be done) to global industry. Bloomberg Commodity index went negative for the year yesterday too.

"Maybe they are deliberately doing this"

I'd say dodgy backroom deals which destroy shareholder value plus terrible comms make that a given.

Hi DK, why should silver be rising?

50% of demand is industrial and the manufacturing data out of US and China is getting worse.

Iran and their mates may launch a coordinated attack on Israel over the weekend, meaning people want USD and possibly gold, not a volatile, risk-on metal...

I make that a paltry 685k volume at the close today versus YTD daily average of 1.4m.

Mr. Market is less impressed than retail it seems, not for the first time either. Where have all the “this is the year” every year rampers gone who were lecturing us how this would be blockbuster?

YoY financials are flattered by just how poor H1/23 was. Not sure how one can say that all of the historical issues are in the rearview mirror either: production is still falling, costs are still rising, China is still slowing and they're still depleting cash.

Judging by the dismal 300k volume thus far, this report hasn’t changed anyone’s mind either.

Could still go up 10% tomorrow though 😂

Tinker, there is a fundamental misunderstanding of buybacks here by Longtimeinvestor, HappyInvestor etc. so don't waste your breath. I've even seen them say "buybacks put more money into our pockets" and "buybacks should be included in total returns". As if we receive an actual monetary benefit from share reduction and owning a miniscule greater % of the company. We don't...

Just peruse BP directors' remuneration report and why EPS was added as a metric. They love buybacks because it boosts EPS and thus their bonuses :)