Member Info for KinkDink

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

Broker ratings take them with a pinch of salt. Jefferies will have set that rating way before the last RNS was released. Ignore the noise.

"Why is this a good price to buy at ?"
Have a look at the technicals for both Brent and WTI. Oil is in oversold territory and so is Tullow. Smart money started buying yesterday.

The bottom is almost here.

Watch for the bounce at 59.55

I've added, this morning, knee jerk market reaction to the SVB news. The whole market dragged down by the banking sector, today.
Petrofac now in oversold territory.

https://www.shortdata.co.uk/company.php?isin=GB00B0H2K534

Once we break above 74.50p, we're through the resistance on the daily chart. I think we’ll do that today or tomorrow.

Link to chart below
https://ibb.co/cDsz2kn

You guys can sit on your hands, if you like, but I wasn’t going to miss out at these levels, eff that!

So went on a bit of a buying spree, over the day.

Highest price paid 90p.
Lowest price paid 84.10p.

I can’t see it going much lower, and even if it does, I’m not a bottom feeder. I buy when I see value and today at a 10% discount! Hell Yeah, I'm a buyer!

“Does this not smell of something seriously wrong going on behind the scenes ?”
No, it’s whats known as a good old fashioned a$$ rape.
The large hedge funds are shorting heavily today, look at what they also doing to Wood Group.
This is where men buy the dips and boys take L’s and sell their shares, usually at a loss and the evil hedge funds hoover them up on the cheap.

I sold half my position yesterday into that rise at the close. Sold my other half today, as we touched 130. I’m out for now, before someone shouts “TIMBER!” Don’t want to be too greedy. It’s in overbought territory now, so I’m leaving the party now with my profits; before the red stripper pole of doom appears.

Yes, what a beautiful sight to behold! Ithaca Energy are back and have come along way, since I last traded it.

I traded this stock from 2015 until it went private. I made my biggest profit on this stock when my holdings were all bought up by Dalek Group at £1.20 a share.

I'm looking forward to 14 November 2022, when PI's can begin to trade it.

Show some class, BloodyRedBaron. Don’t knock someone when they’re down.

Customer demand continues to recover strongly



· Passenger capacity in quarter 2 was 78% of 2019 (Q1 guidance: c80%), up from 65% in quarter 1, driven primarily by IAG's key regions of European shorthaul (capacity 89% of 2019), North America (84%) and Latin America & Caribbean (81%)

· Passenger unit revenue in quarter 2 increased by 6.4% compared to 2019, helping to offset lower capacity and higher fuel costs, driven by passenger revenue yield 10.6% higher than in 2019

· Load factor of 81.8% (3.2 points lower than in 2019, but higher than 72.2% in quarter 1)

· By the end of quarter 2, premium leisure revenue had almost fully recovered to 2019's level, despite capacity being significantly lower. Business channel revenue had recovered to c.60% of 2019's level

· In response to the challenging operational environment at Heathrow, British Airways' capacity was limited to 69.1% in quarter 2 (compared to 57.4% in quarter 1) and plans to increase to c.75% in quarter 3

· IAG's overall passenger capacity plans for the remainder of 2022 are c.80% in quarter 3 and c.85% in quarter 4, a reduction of 5% for the second half of the year compared to previous guidance, mainly due to the challenges at Heathrow; full-year capacity is expected to be c.78% of 2019 (compared to c.80% previously), with North America close to 2019 capacity by the end of the year

· SAF (Sustainable Aviation Fuel) purchase commitments increased to $865 million (from $400 million previously) for the next 20 years, including a quarter of IAG's SAF target for 2030 (10% of total fuel needs)

IAG financial results highlights for the period:



· Operating profit for the second quarter €293 million (2021: operating loss €967 million), and operating profit before exceptional items €287 million (2021: operating loss before exceptional items €1,045 million)

· Operating loss for the half year €438 million (2021: operating loss €2,035 million), and operating loss before exceptional items €467 million (2021: operating loss before exceptional items €2,180 million)

· Profit after tax and exceptional items for the second quarter €133 million (2021: loss €981 million) and profit after tax before exceptional items €127 million (2021: loss €1,045 million)

· Loss after tax and exceptional items for the half year €654 million (2021: loss €2,048 million) and loss after tax before exceptional items €683 million (2021: loss €2,169 million)

· Strong liquidity at June 30, 2022:

· Total liquidity increased to €13,489 million (December 31, 2021: €11,986 million)

· Cash1 of €9,190 million, up €1,247 million on December 31, 2021, with significantly positive working capital, driven principally by bookings for travel in the second half of the year

· Committed and undrawn general and aircraft financing facilities of €4,299 million (December 31, 2021: €4,043 million), including an additional €200 million loan facility for Aer Lingus from the Ireland Strategic Investment Fund

· Net debt at June 30, 2022 was down €688 million since December 31, 2021 to €10,979 million, reflecting the seasonal benefit on cash of bookings for travel in the second half of the year

*reduce short :-)

Point72 Europe (London) LLP deduce short
https://www.shortdata.co.uk/company.php?isin=ES0177542018