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Some on here really need to educate themselves better. Zama is currently worthless. They still haven’t agreed terms and this has been going on for nearly 3 years. Timpan find was large but the reservoir permeability was low so it’s not a commercial discovery. HBR needs to add to reserves quickly and that means spending more cash on acquisitions.
This is a fake out rally! All 3 major US indexes will be down by the close today. I expect more pain and that could send this to 3.00. However averaging down over the next couple of weeks will pay off in the medium term. Gas is down as Europe having a warm October. 17deg here in the midlands!
The SP is 3.72 prior to buy backs. This is an insane valuation, but the market is all over the place at the moment. Not even good earnings are helping. I took some big positions today in BP and a small position in KIST. I also shorted the QQQ as a hedge to give some downside gains. Nasdaq is on the verge of hitting pre Covid levels of 10k. This will get hit in the next few weeks before a nice rise through till Christmas. There is one more bear market rally to suck everyone in before all hell breaks out and w finally have market capitulation and everyone gives up.
I stand by my conviction, yesterday was a trap. This will finish down today and will continue back to 3s. When it gives a higher high rather than a lower high like yesterday, I’ll be back in. Trend is not your friend if your long at the moment.
One day up does not change a trend. Everything was up yesterday, many by 4-6%. Friday can be volatile. Don’t think this for a minute this can’t finish down today. It still Lagging by 15% against peers!
FMe! Just picked up the kids and check my phone and could not believe my eyes! What have I missed?
Was the inflation numbers just a dream?
I should have kept my balls on the table. Never mind. I wasn’t planning to get in here until a confirmation of a trend reversal.
Well done to those who stayed in.
Disaster! More pain a head. Sold out of everything. Took a 2% hit on portfolio, but bears are in control and bulls have run for the covers. Cash is king. Need to walk away for a few weeks and come back once the dust has settled. GLA