Member Info for hey_arnold

Weir group reported today which is why PFC and WG are down.

interesting.

Anyone have any ideas whats driving todays downard push?

I find it interesting that people are willing to short these stocks heavily (pfc and wg). Institutional investors heavily shorted this on Friday off an oil correction, but I think the oil market is still tight, US earnings have been better than expected, fed policy is dovish, debt in the UK is still cheap, US and China are likely to call an end to the trade war and in general the trend is your friend. This might already be in the price but I think there is more to go, especially given how much the UK has underperformed the European stock market the past few years

Never bothered checking but yes likely to be correlated as they are broadly oil field services companies. Again never tested it, but probably correlated with oil too. Would be interesting to do sensitivity analysis to the latter, given I though WG is more diversified than PfC yet they have appeared to track oil or possible the just the ftse index on the way up.

US GDP just beat expectations so I reckon oil will rally

GDP Beat consensus - hold onto your hats.

I reckon the US will pull it up when they start trading.

I think for as long as wholesale gas prices keep dropping, British Gas will continue to lose customers as smaller competitors undercut them.
As global gas prices also slowly going down the toilet, I would assume their upstream assets become worth less and less, so unless you have longer then a two year view, I dont think you will make much money on CNA.

Lets hope US GDP figures helps us out, sparking a cheeky oil rally.

US GDP numbers come out at 1:30pm London time so if they are higher than consensus I would expect oil to rally and consequently PFC and WG.

There was some pretty aggressive selling this morning, guessing there is a decent amount of short interest in the stock.

Oil dropping

Interesting to see where we close! Amazon numbers after the close, could see tech sell off tomorrow.

Spoke to soon.

Probably closer to 729-730 average actually.

Bought 80k this am @ 728p

Love how people sell Wood Group when its a problem specific to Petrofac..... bit of a p**s take really.

Its being sold because Petrofac is due to loosing contracts in Iraq over allegations of fraud.

Thanks Mark.

Annoyingly im fully invested... Otherwise I'd be hoovering these up.

Is oil off today? Assuming so... seems a big move.