Member Info for marfthew

Never quite understand this logic. The whole sector has been crushed. Shell is down just as much as BP but some people on here think that the share price would be 50% higher if it wasn’t for Looney.

Of course BP won’t be leaving the oil market altogether anytime soon, particularly if Brent gets back to $60-70 again.

However Looney is doing what most other oil majors are doing at the minute, and that’s laying the foundations for renewables in the future also.
Of course anyone that bought this share over 400 is looking for anyone to blame and the CEO is the obvious choice. However again it’s not just BP in this boat

A bit early in the day for that kind of chat ??

It gapped up which is a good sign and I’d rather that gap was filled today and then it steadily rose, than having the gap sat there and it was filled later this week or next etc. It should fill the gap and find support hopefully

Hi Speedie,

I definitely agree that US assets are massively overvalued due to the Fed helicopter money, tech PEs are silly now.

However the ftse hasn’t partaken in this rally at all and looks quite good value in comparison right now. Shell and BP at prices last seen in 1995, given their assets you can’t say they look overvalued at the minute, quite the opposite.

If the US markets do collapse then of course there will be a knock on effect to all indices around the World, however you will also see the FTSE not so affected and money will move from overvalued tech into stocks like shell and BP that pay half decent dividends still and have value.
I’d say they may actually surprise in that situation.
The recent Nasdaq sell off in the US showed this, energy stocks globally actually went up as this sell off was happening.

I personally bought into gold and silver last year as I felt the markets were becoming toppy anyway even without covid. I still hold this and will do for the coming years as protection.
However i have bought a large stake in BP and Shell the past week, as I feel they are currently undervalued, still offer 6-7% yield at these prices and in the next year or so will do very well.

Good luck with your holdings

Think he was just asking scout how he invests in the gold market. Seems pretty obvious to me

This is contrarian investing at its finest right here at these levels in stocks like BP and Shell. As had been said many times before, it has worked wonders for the most successful investor of all time Mr Buffett. Buy here and have patience and you will be rewarded down the line.
I’m also in at 2.33 (Which i thougtt hi would be good support at the time a few days ago)and bought again today for an average now of about 2.24 with 60k shares. It’s a large chunk of my current portfolio.

https://www.morningstar.co.uk/uk/news/AN_1601628244391698800/uk-broker-ratings-summary-morgan-stanley-raises-imi-to-overweight.aspx

Don’t normally listen to analyst noise but a “conviction buy” from Goldman is a rare thing.

Good sign

Cracking entry price

“Even today RDSB Assets are worth 380£Billion with a market cap of 70£Billion. crazy world we are in”

Yes and Tesla’s market cap is just shy of $500b and erm what asset do they have?? (Valued at 7 times VW group, cough, splutter)

World chasing stories and hot tech stocks with no underlying value. It’s just how it is right now.

Stocks like Shell and BP will have their day in the sun again and tech stocks will have another dot com bust cycle to come

Yes sure fire way to make money that, shorting a stock when it’s now so oversold that it can ping back massively at any moment!!

With the Trump news and oil down again. It will see new los today unfortunately. I feel this could be the low point for the moment before at least a technical bounce occurs from very oversold conditions. Starting later today or Monday

With the Trump new and oil down again this is going to get nasty today. I think today is the final drop before a technical bounce from oversold conditions arises starting either later today or Monday.
Wish I had more powder dry to jump in today

Hi Boyobach,

Maybe the bottom in for now?
Got very oversold today, due at least a technical bounce me thinks.

Anyway BP went straight through the March low of 222 like a knife through butter.

Seems to be catching a falling knife right now. Supports not holding in any way.
Technically oversold on the daily and hourly. I think a technical bounce is at least due.
Today could be as good a day as any to be a buyer from a technical point of view

Boyobach,

I’ve topped up at 930 today. Looking overdone now to me. My average is around 950, moving forwards I think I will be holding for the long term and I’m very happy with that average.

Also bought a chunk in BP at 2.24.

Both looking very cheap now, particularly with 5% plus dividends

2.22 was the March bottom, of that doesn’t hold then maybe. I’ve bought in today at 2.24, cheap as chips for this stock with still one of the better dividends out there. Also added to my RDSB holding today.

Likewise I’ve traded Genel one way or another since 2016, got in around the 65p mark back then, held it until about 130ish and got out, unfortunately missed making a lot more on that. Got into it again in March this year and have been in and out several times since. It’s worked well for me and certainly been one of the better oil plays that I’ve had. Does move in it’s own mysterious way though.

Let’s see, I’m happy to sit on Shell for some years to come and just collect the dividend. This will come good again. At least you are still on the sidelines and can get it at even better prices. But buying when the tide has finally turned is never a bad move compared to trying to catch the very bottoms

Hi Boyobach,

Agree, charts don’t make pretty viewing at the minute. However the selling will have to stop at some point, tomorrow it will be dipping into oversold territory and will like test the March lows.
As I think you’ve said before, it’s being pulled there like a magnet, I should have known better and stayed away until that point. Made a nice sum last week day trading it but now stuck.
I will probably add again at the March lows and see if I can unwind my current position for little to no loss of support holds and there’s a bounce, I’ll then sit on the sidelines for a little while and wait for a clearer picture.

What level would you be tempted at? Genel still holding up well enough also I see, performed well given current sentiment

It’s a slippery slope at the minute. I’m stuck in a position now too. Both Shell and BP are consistently the two worst performing big oil stocks every day, Total up 4% today, Exxon up yesterday and today.

Clearly going to both touch the lows of March, probably tomorrow, I’m at least hoping for a good level of support there and a decent bounce. Where I’ll probably be out again for now until there’s a clearer picture on Covid.