Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
In an extremely trying climate, these seem decent overall. Can only concur with the general positivity. Net debt continuing to fall. As we'd expect, oil demand seen to continue recovering, etc.
Maintaining dividend is particularly pleasing. I'm committed to lowering my average via DRIP shares, so most welcome. GLA!
Onthecoast,
Thanks for link. Appreciated! Great to see them still going strong. All quality posters as I well recall. I know Kerry's alias on ii is JTT.
I've made a note of it for the future, as I’d love to be more active on yet other forms of social media like twitter. However, right now it’s not practical for me. I’m still active on ii, here, BARC+ & occasionally ADVFN. All these sites share in common being relative to my financial activities. Plus, I’ve landed extra constraints on my time due to family issues & being forced to leave my desk more often. So other social media is something for a later date.
Just catching up with other posts here & as regards predictions, I can't add to my earlier view. That is, I'll be surprised to see another divi-cut so soon after a 50% cut on 4th Aug. However, I'm also braced for more bad news due to the macro-climate.
But whatever happens, it won't change my resolve to hold BP for another year at least. - GLA.
AchingBalls,
Thanks again. I only worry about what I can personally control. The irrationality of market behaviour is a law unto itself. Many participants are found out, including seasoned professionals. Me too. Little is easy about this game. During the worst of it, sometimes the best course of action is just to sit tight & hold. Always a viable option if time is on one's side.
Eventually this bearish, sentiment-driven climate will give way to another bullish cycle. The only doubt is timing. But history repeats.
I agree about the trading & market environment. FTSE 100 faring particularly badly largely due to the slump in commodity prices & stronger sterling. Brexit uncertainties also not helping. But I think it’s not just the laws of “physics”, but also economic necessity that'll determine how things play out later.
Record levels of debt have piled up. They'll have to be repaid. Economies have to reopen at full throttle at some point. When that happens, sectors like this one will recover well. A huge bounce won't surprise me.
More buyers will return as alternatives for placing investment cash are not exactly plentiful. The safe haven of Gold is near all-time highs & property prices look well over-inflated. Saving rates at all-time lows. So markets will still draw in huge volumes of buyers when the COVID-19 situation improves. Until then lots of patience required.
Off topic: It was disappointing when ii downgraded their forum around 2018. That caused a significant exodus. Those like Barcap & Jamesthetrain only rarely pop in now. Barcap even ended his Bianca TA software. Indeed, a lot of knowledge was lost. - Certainly not all change is for the best.
GL & take care! Catch up later.
Excuse repeated posts. My original comment didn't register for over 2 minutes & seemed to disappear. Now it's back. - GL.
Closed a poor 200. A whisker above 27 year closing lows of 199.96 seen 21 October.
What we've seen today is one reason why I refused to get carried away on Friday when BP saw day highs of 208+. Still nowhere near high enough & today, disappointingly, back down to about 27 year lows.
Volatility remains extreme & markets sentiment-driven. Rationality soon goes out the window. Too many people behaving like headless chickens. Typical herd behaviour.
That said, today's reversal hardly augurs well for tomorrow. Anything but. I can only hope that any more negative c-rap is priced in. Otherwise an already long road to recovery will get longer still.
But the market can do what it wants tomorrow. I'm 100% holding until at least closer to 2022. Review things then. - GLA.
Hi AchingBalls,
Thanks. Good to see you about & I hope you’re doing fine. Indeed, same alias & who'd forget the days of Tas, Barcap, BuyemSellem, the late Rumplestiltskin, et al. All decent posters in very different ways.
I still partake on ii, though less than before they changed their site format. It’s a different these days. Much quieter.
FWIW, it wasn’t that long ago when you were mentioned by another poster on ii, quite fondly may I add, along with a number of other former ii posters. ;o) Regrettably, only a few of the old guard left now.
I’m here partly because BP’s forum on ii is fairly inactive, though I joined LSE years before & have been active elsewhere, depending on stocks held.
As to how I’m doing? FWIW, trading was going very well until about March 2020. Racked up huge paper losses since then. Suffice to say, WELL over £10K. I’m confident I'll get it back, but probably not before 2022.
I intend to hold BP until well after 2020. But enough about me. - ATB & take care!
Hkt123,
One hopes it'd be factored in considering we saw near 27 year lows recently. IMO, agreeing with others, if we did see another divi cut so soon after a 50% cut on 4th August, it'd reflect badly on the BoD. How could serious investors have confidence in them?
What will be interesting is BP's SP action towards the end of today. Because whilst insider trading is of course illegal, it's not unknown for occasional leaks to come out to bigger funds before results are declared to markets.
Either way, tomorrow will be key. I'll be surprised to see another divi cut, but I'm not 100% confident. - GL.
Thanks to the poster GENG for posting some TA here a couple of days ago that showed support around 195 going back to 9993 & 1987. So even technically we looked oversold by every measure & seemed due a bounce.
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Excuse obvious typo in previous post: 1993 & 1987. Cheers.
I personally wouldn't read too much into this rise, as much as I welcome it. Nearly all the FTSE up, so it seems more like a relief rally. Hard to be sure it'll be consolidated. Hope so.
Thanks to the poster GENG for posting some TA here a couple of days ago that showed support around 195 going back to 9993 & 1987. So even technically we looked oversold by every measure & seemed due a bounce.
Who knows how things will play out after US election results? But I've no doubts about holding this longer-term when I think most SPs will be a lot higher than anything seen over recent weeks. - GLA.
Mehmehmeh,
I've been thinking along similar lines. After a 50% cut on 4th August, IMHO, it'd be surprising to see another cut so soon, but by no means inconceivable with various clueless governments stifling more economic activity.
Another thing: if there is a divi-cut, chances are some big funds got advance warning. That would explain the continuing exits. That's of course against market rules, but we know it happens. The cards are stacked in favour of the large funds with billions at their disposal. It's always been so. - GL.
"If I had a quid for every time I read ' Ive got 20k if it goes sub £3' Im piling in if it goes sub 250p, sub 200p, sub 190, sub 160 sub 100, I wouldnt need to worry about the sp or the divi. Truth is its all guesses and b*s. Nobody has a f* clue. Nobody knows where covid is going for a start and until we do the sp is following headless chickens. IMO"
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NalaKapal,
True! No one knows. Even all top broker targets badly caught out. Little wonder that ordinary people fare no better.
Just as government policies are outside our control, so are their consequences on things like market sentiment & price volatility. Right now, most FTSE 100 stocks getting battered. A generally duff index sold down to May's lows. Disappointing!
Hence some of us focus on what we can at least control 100%. For example, avoiding panic, staying calm, discussing whether to buy more for a L/T hold or walk away. As always, it's down to us as individuals. Our money, our call.
Mindful that I'm not nearly clever or lucky enough to buy the bottom of a downtrend, though I'm disappointed with my poor timing, I'm 100% sure to hold on & will reduce my average via DRIP shares. Looking well past 2020, I've no doubt that I'll book a decent profit over time. But patience a must due to a very poor a macro-climate affecting most sectors. - GL.
Windows,
Generally agree. The consensus for peak oil demand as it stands is circa 2030, with demand then expected to plateau until closer to 2040. Mostly because large growing economies like India, China & Vietnam won't transition to renewables anytime soon.
After this lockdown, many heavily-indebted governments will need to raise taxes. So economies will be opened up full throttle. When that happens, many of these low SPs will be seen as crazy, not least across the oil sector. BP at very long-term closing lows not seen for 25 years or longer.
It's a matter of riding out the volatility & panic until something approaching normality returns. If it doesn't return, BP's SP will be the very least of all our problems! - GL.
Made a smaller add today at 201.58. Same reasoning as originally & patently braced for a long-term hold.
As mentioned earlier, will also DRIP feed from dividends for as long as BP’s SP is below by original mistimed buy at 233.33. Hopefully I can bring down my average to well below 220.
Posted here to keep any buys within the same thread. - GLA.
Latpulldown,
Thanks. A sensible approach with which I concur. Whilst we can do little about the current volatility & nonsense playing out across markets, we can at least 100% control our own mindset, recognising that over time global economies tend to recover well. That's how it's always been, despite the greatest setbacks & any degree of panic. Eventually sentiment improves again & more buyers return.
I'll be glad to reduce my average over time to at least below 220 & hold on. It'll take time. No quick fix likely here. But that applies no less to other sectors. - GL.
"appleby - 100p would be absolutely crazy - agree, but it cannot be excluded if retail investors start panic..."
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Tacet,
Seeing successive new 25 year closing lows, with another yesterday, are frankly demoralising for most of us. At times there seems no end to the pessimism across this sector with new lockdowns further dampening economic activity.
However, whilst we know markets can be highly irrational for longer spells, they'd have to be extraordinarily so for BP to tank to those levels, as would presumably much else across most sectors. I think anywhere near 100 assumes that all dividends will be scrapped. Seems unlikely. Even now the yield is substantial.
To each their own. as they say. Your money, your call. But as long as BP pays a dividend, I'll be DRIP feeding my holding to reduce my 233+ average over time.
I'll review matters before 2022. By then, hopefully the current, foolish policies that damage wider economies & much of UK's markets will see a more sensible resolution. - GLA.
TradingPlaces69,
Thanks. Excellent timing from you & I'm pleased for your success, as for any one else. Glad to see others doing well even when I'm not.
Agree with your measured approach. Little is 100% risk-free in markets. Certainly not for keeps. We occasionally see surprise systemic changes. Entire sectors lose significant value. Some never recover even many years later. For example, banks since 2008. There are other examples. So it's only sensible to never go all in.
Over time I've seen many people pile heavily into previously so-called popular "defensive stocks", lured by previously attractive, progressive yields. For eg., BT, CNA, ITV, VOD, et al. Only to see their original investments go down by well over 50% to 75% & yields cut severely. Some may take years to recover their losses. Others not at all.
Since 2009 I made my money via real shares. Usually mid-term holds until historic resistance points met. As these technical levels often (but not always) see reversals, I'd book profits & move on. This way I switched funds into many stocks, usually often doing well.
All my trades posted live on various BBs. I was well up in overall profit until (as said to Baz) March 2020. Less so with leveraged trades, which was always a drain on my funds.
For obvious reasons, all that's now temporarily sidelined. I too intend a longer hold with BP, possibly re-investing all dividends as long as SP is well below 300? If I can reduce my average of 233+, even better.
Mindful that commodities can be extremely volatile & cyclical, I'm fairly confident we'll be in a much better place again later. Only the timescale remains in doubt. Whilst that seems a truism, it's good self-advice for when markets become highly irrational.
Indeed, we ALL need some luck occasionally with timing. Even professionals get it wrong. I've certainly had my fair share of GL until this year. Now it's back to basics & make sure I recover my overall losses, as I hold other stocks also well down. If it takes until after 2021, so be it. - Regards & GLA.
Baz,
I know the feeling all too well. You, me & probably myriads of others.
With interest rates near rock bottom, many people were tempted to try to improve their financial lot in stock markets. Who could blame them? High divi-yielders were particularly attractive. Things were generally fine until this Black Swan virus. Now with so many divi-cuts & cancellations on top of loss of SP value, this year has been the most brutal many of us will have yet experienced.
Frankly, I’ve even questioned walking away one day, but ONLY when I get my losses back.
But for now I remind myself that times will be better again, global economies tend to recover well, others sadly have it worse & there are more important things like good health & family.
Key thing is staying calm & keeping a perspective during more torrid times. - Take are! Catch you & all later.
Hi Baz,
Thanks. Indeed, I've kept the same alias. I wasn't sure if you were the same Baz from ii, but nice to see you're still going strong! Hope you're keeping well.
I started my involvement with markets February 2009. Lucky with my timing as just after 2008's financial crisis. Couldn't go far wrong for most years. However, since this March I'm WELL over £10,000 down.
I think I'll get it back over time, but probably not before 2022. Plain realism. I'd rather keep things real, avoid false hopes & stay psychologically prepared for more market turbulence before the global economy recovers. - ATB!
''but im essentially a bargain hunter ''. We all start as bargain hunters.
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Baz,
It reminds me of all those who started out as ambitious day traders. Years later, the majority have become long-term hold investors sitting on massive paper losses. **** happens all too easily in this game. - GLA.
Markets can be irrational. History shows that. Most trades algorithm-driven by multi-billion pound hedge funds. They love exacerbating downside. Later, they scoop up quality shares for dirt cheap.
Of course it's devastating for those who sell at huge loss. Since interest rates hit rock bottom, many ordinary people felt compelled to make their hard-earned savings work for them by entering stock markets. But markets have always been a CASINO. They mostly add profits to the already wealthy with vast resources & with time on their side.
Back in March when this closed 233+, market was pricing in lockdown controlling the virus. Now? Yesterday a SAGE official on BBC news said lockdown would have to be extended. Also, that when we came out of lockdown, infections would rise again & lockdown would have to be imposed YET AGAIN next year.
So to save vulnerable lives, rathe then giving added protections to the weakest, the powers that be insist on battering the world's economy. No wonder oil stocks are going nowhere fast. I'm bracing myself for a tough spell ahead because of this. - GLA. Of out for the day.