Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
On Wednesday.
I noticed another 1M short get added today, too.
https://www.shortdata.co.uk/company.php?isin=ES0177542018
I love your optimism Sun. Remember, it’s not real profit until you sell it. It’s not going to keep going up, and up, every day, forever. Please don’t make the mistake of becoming emotionally attached to IAG. Stocks don’t care about you; you shouldn’t care about stocks. You should care about profits, and profits alone.
I’m not sure about that, Mararab. Those with direct market access, who can trade outside of normal market hours, will be taking profits on multiple FTSE100 stocks, not just this one, after hours. Keep your eye on the FTSE100 after the closing bell. Will it continue going blue or will it turn red. My money’s on red, let’s wait and see. I made the disciplined move, and made a nice profit. I’ll wait for the next opportunity to buy again. Best of luck to the rest of you.
I’m out at 166. FTSE is up 2% which has helped lift this, today. I doubt we’ll see the FTSE up again tomorrow. Great market conditions to exit trades, today. Sell the rips, and buy the dips. I’ll buy back in when this drops back down again.
GLG Partners LP added to their short position, and Marshall Wace LLP reduced on Friday.
https://www.shortdata.co.uk/company.php?isin=ES0177542018
Is this news public yet?
I’m hearing interesting news from some of my sources, this evening, news I think will be welcomed by many PI’s
"British Airways, Iberia, Vueling, Aer Lingus and AirEuropa suspend the merger procedure."
@Carcosa61 Thanks for the clarification, much appreciated.
I was under the impression that after a share consolidation, a current shareholder holds fewer shares, but each share is proportionately worth more. As a result, share consolidations do not change the aggregate value of what shareholders own or the overall market capitalization of the corporation.
My bad. Appreciate you taking time to explain.
Personally, I’ve voted against the 20:1 consolidation. I’m telling you know, having the SP at £14 a share, almost three times higher than BP, will see large hedge funds short the hell out of this. That £14-15 quid share will be down 50%+ before you know it. I don’t want my equity getting decimated like that, so I’ve voted no. If the 20:1 consolidation gets share holder approval, I’ll be dumbing my entire position on the opening bell.
Current support level is around 45p. As you can see from my chart, link at the bottom, the technical analysis on the one-week chart shows a continued decline from 23 May, 2022. Lower highs and lower lows.
When it bounced off the 45p support level on 30th October, 2023 we got rejected at the 0.786 Fibonacci level at around 54p. Until 54p is broken and the share price holds above it, I remain bearish.
If it breaks the 45p support level, you're looking at a possible fall to around 36p.
In the interest of full disclosure, I don't hold a current position in Petrofac. I day traded it, last week, bought on the bounce and took profit at 53p.
Link to my chart:
https://ibb.co/mhLYxmW
Underwater hedge funds who are down big for not closing out their shorts before the update. Now adding to their short positions to try and trigger stop losses or get nervous investors to sell. Before buying up the weak investors sells and before you know it the share price is back to where it was.
British Airways parent IAG SA reported better than expected profit in the second quarter on a surging demand for travel.
Operating profit rose to €1.25 billion ($1.4 billion) in the three months to June 30 from €301 million a year earlier, the London-based company said Friday. That compares to the €898.8 million average of analysts estimates compiled by Bloomberg. The carrier said demand continued to be strong, driven by leisure travelers.
The carrier said while there was no sign of weakness in forward bookings, it continued to be mindful of wider uncertainties that could affected full-year performance. About 80% of IAG’s passenger revenue is already booked for the third quarter and about 30% for the fourth quarter. Concern is emerging about the durability of a post-Covid surge in travel demand.
Ryanair Holding Plc, Europe’s biggest discount carrier, this week lowered its full-year traffic forecast and said it may need to cut ticket prices to fill seats this winter as passengers become more cost sensitive.
IAG is down because the Spanish IBEX is down, due to the election uncertainty in Spain. It's a hung parliament after conservatives fail to secure expected majority.
This morning’s drop is mainly politics related, plus the Ryan Air update. This drop is a buying opportunity, in my opinion. I've added more to my IAG position, this morning.
I don't have a dog in this fight; I'm just watching the stock, on the sidelines. However, what tends to happen with this share, after the good news RNS is, the hedge funds, some underwater on their current shorts, begin adding more shorts, the day after the RNS. Their profit target is around 35-37% so based on that, you are looking at a continued drop from yesterday's highs until it drops 35-37%. A 37% drop would take the share price back down to 49p. I know it's not nice to hear but that's the technical analysis based on previous events. Obviously, that could all get upended on more good news RNS'
Here’s a link to the flight tracking statistics chart. The black line represents 2023, and the purple line represents 2019.
https://ibb.co/59GCPWT