Member Info for Gusher80

Just my 2 cents... oil price was well overdue a drop... what I didn't expect was this sp (as well as other oillies) to hold up so well... isn't this a case of must go down to go up? Anyway gla... quadruple witching today...

Wonder if US will send the warships in again? https://www.wsj.com/articles/china-buys-more-iranian-and-venezuelan-oil-in-a-test-for-biden-11616146203?mod=latest_headlines

Encouraging presentations from top management yesterday... was not ready for it but actually was impressed! There also didn't seem to be much air n graces... just a straight talking ceo sitting in a ordinary office making informed arguments...

It might be pertinent to ask about the timing of these RNS(s)
Can anyone share any knowledge on this? Is there a set number of days which they have to post them or can they do it whenever? The timing is extraordinary...

are you still short Stevo12?

The thing is that OPEC+ have demonstrated that they are willing to take the necessary steps to stabilise the price (and market share)...
Life going forward with Covid is going to be managed... the Europeans can kick the political football around all they like... we all know about their embarassing handling of the situation...but the so called media hype over third wave will not dent an ongoing recovery as we all learn to live with the situation... for example the digital travel passes our friends over the way have already created!

Thanks Stevo12... the thing is that I feel the oil market has stabilised somewhat these last few months especially compared to last year... I mean it was rangebound for quite a while in the mid 50s...
I still think that the smaller oillies like PMO and TLW have still some catching up to do compared to the likes of BP, even Cairn Energy!
The Vix has also hit its lowest point in 14 months... indications are that the recovery is well underway... certainly the construction companies around me are going hell for leather!!!

Was this not panic selling... so the MM's can scoot in and get some more at a discount... maybe?

Thanks Stevo12... so just as long as the oil price holds up the re-evaluation of the sp ( as it becomes Harbour) at the end of the month will very likely increase in price especially as short sellers/ii's are locked in... is this then easy money Stevo12? Quite exciting!

https://www.ft.com/content/21eb2d88-3bae-4db3-944c-ba92f3924300

Arghhh I reall appreciate your answer I do... however as I understand short selling is that the banana seller borrows the banana and then sells the banana and then buys back the banana, hopefully at a lower price, to give back to the farmer...
The thing is that on the 23rd of March there are no more bananas... only mangos... new and magnificent mangos...

man I feel thick... but I still don't get why pmo shorts are increasing if its ceasing trading soon and the deadline for debt for equity swap has long since passed? I have tried to understand your explanation but I still don't get it! Arghhhh...

Also the EIA are paris based... guess what... so is the paris climate accord... hence why they are always trashing oil... but as far as I can see vehicles run on batteries have major flaws and the current technology has just not caught up... hence why such a small percentage have taken up ownership coupled with the dubious savings marketing *******s.
The French have embarassed themselves over covid and vaccines... they seem to relish being a global embarassment...

Funny how Bladesman thanked Soder in this post and not Stevo12... interesting...

I did on the dip... change left over... enough for marshmallows for the campfire... to watch those shorters burn!

Could get interesting...

This should have been us too! Grrrrrr

One thing I do know is the VIX is going through the roof, the dollar has ticked up, equities are down and guess what... Oil is staying put with even a tick up in wti...

Maybe investors from other sectors will wake up and rush to get into oil based instruments like PMO...

I agree Pearls... this doesn't seem to add up....
I understand the argument that short positions being covered by what ARCM (although locked in) and others will receive and may not lead to a short squeeze up until after April 1st.
However if the rising share price is making them money then why wouldn't they help to boost it? They can always sell before April 1st. It is over a month away?!

Why? Look at the dollar... taken a beating!

I certainly think that shorting the oil market atm is a dangerous thing to do... everyone seems to think the trend is for it
to go higher...

PMO will get there sooner or later! Its only just begun!!