I guess the only real positive that is evidenced is that 1) shorts gave significantly reduced in recent months, was over 4% recently 2) IIs have increased their holdings recently, Norge twice, and 3) a company like sainsburys which is a defensive stock during inflation, is profitable, increasing revenue and pays a decent dividend has 4% plus shorts which I can't understand really. What we don't know is if these shorts are also long and with other companies like Blackrock, they hedge short against being long.
If I could understand something logical and makes sense that would cause 4% downturn in 30 mins, I could accept the volatility. But crude is up, more buys than sells, so what happened at 3pm? At this rate its going sub 100.
Nuri is just bitter and twisted because he sold out at a huge loss months ago, and always just pops back on update day to slate the company and justify his decision to sell at such a huge loss. Stick to farming !
Well the sp has been in freefall since beginning June, down 20%. In a sector that should be benefiting from high oil prices, it says to me that if you're invested in a majority of UK stocks right now, you're going to lose money certainly this year. Like with all stocks right now, finding the bottom is impossible so there's no point selling and buying elsewhere. But I really never expected this to be down at pre SFO conclusion / Adnoc ban levels. Its ludicrous.
Culley I'm not short mate, I've been here over a year, I'm just a realist where this is concerned. I'm 300k shares at 32p having averaged down since December until I ran out of funds. I've said before that the transformation needs to be proven in the fy results for this to rerate. I don't blame anyone for shorting this because it is so predictable. All you had to do was look at serco yesterday which was green most of the day on a rubbish day again, on the day cpi updated, to know this was going to retrace again. I'm more down on other shares so personally I'm giving my entire portfolio until the middle of next year to recover some of my paper losses. If CPI don't show revenue growth, debt reduction, and sustainable free cash flow by year end, the transformation hasn't worked and won't under current management.
It's been a dire day all round sparked by the US sell off last night. The way things are, and the 6 figures I'm down accross my portfolio, I'm writing this year off again. I know exactly what you mean Strathy, tanks 5% when the Nas is down, never bounces when the Nas is 2% up, its the same with another one of mine NTW, what a nightmare share that's been too.