Bank24 Mar 2011 21:32
Equities are hard work at the moment. You're definitely in the right place with commodities and calling it well by the sounds of things !
Glad the market wasn't expecting 60m of net pay with RKH! I was going to keep my longs open with RKH, but bailed yesterday. I think RKH is undervalued big time, but DES shenanigans have tarnished FI oil in quite a big way I think. The complex results from their exploration well prior to the appraisal didn't do them any favours and there was clearly some ii sell off at work to push the SP as low as it went... My brother works in the city, and I think he summed up the mood when he mentioned "falkland oil is a bubble that has burst". I personally don't share that view btw, but it seemed to make sense when the SP kept tumbling... I can't help feeling that DES having the rig next is holding the SP back - let's face it, they've not had the best of luck so far!!
I can't wait for XEL to get going. Still long there from 369.23 - it's been tying up my margin for too long now...EO too - been waiting for the PMO takeover for ages. Wish I'd know I'd be able to get in at £1.05, but as the drilling campaign draws to a close I have a feeling it's only weeks away now...