Member Info for marineclark

Danger_mouse, AXL is already on my watchlist. It's moving sideways atm, its tradeable, with about a 25 percent profit from the bottom of the rectangle to the top. These days I prefer to compound trades such as take three 25 percent trades, compounded about 95 percent profit, rather than look for the one trade worth 100 percent. Thats doesnt mean I will cut my profits at 25 percent, If I see the chart pattern much bigger, I'll will let it run. Made 50 percent in a day or two on IOG on a new CEO (should have taken profit at 75 percent), but lost about 50 percent a bit later, when news was bad on well results - all in all loss was about the same, had position sized correctly, so 50 percent loss was about 10 percent of total capital lossed. I had a great trading year in 2022, made 100 percent profit, must admit, its not been easy this first quarter of 2023. I wonder if thats because this year the markets are expected by some to fall steeply, what witht banking crisis and potential de-dollarisation effects.

I still like this share, I had bought much higher, but quickly sold when it broke out downward of rising trend channel. In the meantime while i was hoping for good news, saw TM1, go up 300 percent in a few days, which was also on my watchlist, JOG go up 100 percent in a few days, that used to be on my main watchlist, but I wasnt looking at very often.

I'll be looking to re-nter at some point, but I'll wait for it to settle first. I've just been a little frustrated thats all, because of the mickey mouse RNS' the company has released lately, when I coudl have been in other shares.

Dont mind me, I was just offering my opinions. I'm a swing trader so my timeframe is short vs a long termer. Price targets are probabilities not certainties.

They gave the produciton guidance for the next 9 months. Based on their recent track record, I dont have confidence that issues will be fixed quickly.

I'm out so good luck here. I'm have a watchlist of shares so don't mind if I miss the boat here. Certainly tried, but got out with just a scratch.

The problem now is that there is no imminent catalyst to boost the share price. before it was the full restart of Montara and the price hit 90p in anticipation, but now that could take 8 months. Other assets will factor in time but that will be some time away. I think this could drift lower for a while so I'm no rush to buy in. This time, I will wait for a longer base. Sometimes when I get emotionally attached to a share I jump into too early, and pay the price. But, selling on support breaks has saved me from losing a tonne of cash. Lost just a small amount as a result , but lost more in opportunity cost I as could have been in other shares, which I was watching, and they have gained 10-20 percent.

Goodluck Scored, pity as I was really looking forward to making some cash here. But that wasnt the case....yet.

The chart pattern break is targeting a drop to 50p, if I were to buy back then thats the level I would wait for. Might not get there, but thats my target.

Scored, looks like we got out at the right time... I did see weakness on the bounce, and the attempted base didnt hold, so I sold. And now that long term support is broken, I see the next support level at 57p. Not sure if I will buy back, as don't know when the the full restart of Montara will happen, like I said, probably around 8 months from now, can't tell with this lot as their RNS's arent always truthful.

Legache, I bought around 68p so 2p loss, which is tiny. I was expecting a full restart of Montara by now and a production guidance of 20k from May, not the wishwashy 13.6-17 in the next nine months,. That could mean 13.6k for the next 8 months and then the last month 17k. Good luck, this is probably a good long term, but I'm a swing trader, and I have better opportunites elsewhere.

Scored, good luck. I've decided to sell. I was wrong here. Firstly, as I said earlier, they can fool me once, but not twice. Perhaps I was fooled several times, when they said Montara would restart end of Feb, then a few days later, than only one well, and now guidance of of 13,500-17k for the next nine months( I read that as 13,500 for the next six months), which means full restart will probably take a year. ALso, this is one slow share. I can find better opps elsewhere. Good lucj though, this one is long term investment, which at current price probably will come good eventually, but not for me.

Although the recent RNS's have been misleading, the charts are setting up nicely for a big move upwards. Price bottomed and bouc ned from the years low's of 65p, and has now paused between 67.9 and 71.9 levels. Low volumes during the pullback are good as it means selling is small. Looking for a break above 72p, and we should be on our way. Market appears to be waiting for the long awaited news. When we break out of the current consolidation area, expecting to see a strong move upward towards 85p at first then a consolidation, followed by a move towards 100p+. Timeframe could be few months, but much sooner if full restart news comes out, just hope I havent been led up the garden path with this Montara restart.

Scored, my issue is the "fake news". First it was the restart is going to be done by end of March, then it will delayed by a few days because of bad weather, then a month, we finally get the restart, but it turns out its one well. Its like one lie after another.

Having said that, this share isnt not a hare, more like the tortoise, but I bught in arround 68p, so I'm happy to hold for a while, a month or two. But who knows, maybe the full restart will take another six months, at the rate this is going.

I've traded JOG over a year ago and made some good money on it but its been off my radar for the last year which is a shame. It had a very small MC, so any farmout news was always going to send send a rocket up behind its share price, plus its tipped by ST of IC, which would have given it another lift.
Not expecting a 100 percent rise in two days like JOG. but I woud be more than happy for a 50 percent rise in a month or two. JOG was all or nothing, but JSE is a far, far less risky proposition a it has considerable production. I think this will come good, when the news comes out. It has been testing one's patience, but I reckon a little while longer now.
With oil going up, it is great news for JSE. It has close 3 percent up today, which is alright- would be 10 percent up if had bought at 64-65p. The seller does appear to be hanging around, but at least it is selling on the way up instead of the way down.

...folks.

https://www.reuters.com/business/energy/view-opec-output-cuts-roil-markets-little-room-others-respond-2023-04-02/

"It’s a meaningful surprise. There was no chatter about this pre-meeting which there usually is. Probably an indication of concern around demand and what’s happening here in the U.S. around the banking crisis. It will firm prices meaningfully. We’ll have less supply in the market, a market that was not expecting it. We’ll probably get a $10 move in crude.

"The number of options that governments around the world have to moderate a price impact are becoming more limited. It’ll be the free market that does it. There will be potential demand reductions associated with price. If prices were to run to $100, $120 (per barrel) level again, then we could see the same demand destruction as when U.S. gasoline went to $5/gallon. That’s the way the market is going to offset these production cuts, through price and demand. Unlikely to be through increasing strategic SPR releases."

The US has been selling from its SPR to lower the oil price, but is running low on reserves. It needs to buy back to refill those reserves which it said will happen in late 2023, but ther target price was in the 60''s. That's not going to happen anytime soon now. If oil goes back to $120, that's $0.8 billion annual revenues for JSE. I wouldn't want to be out of this share at current prices near year lows. There is only one way this is going and its not down.

Apparently a member of ADVFN said he bought 200k starting today and is aiming for 1milllion shares, gradually, assuming he's telling the truth of course. That means you can prempt the chap and ride his buys:), if you have any spare cash left.

A bullish end to trading day today and with strong volumes. Anyone who bought at 65p would be up 7 percent now. Pity, I had used up all my funds to buy slightly at 68p, but back in profit so pleased with todays peformance. Good thing is, that downtrend(short term) has ended, and we are are starting a new uptrend. I got a very good feeling about where the price is going to be in the next few weeks. Some action at last. Still plenty of profit to be made, and still not far off year lows, so risk/reward is excellent, but will become less so as the price continues upward.
Typically with vertical drops, the price often retraces fully in about 3 times the duration of the downtrend, so expect price to get back up in the 90's in about 6 weeks. However, if full restart news comes before that, expecting target should be hit much sooner.

It would have gone to £1, I'm sure, if not for the "several days delay to extreme weather" comment, and the full restart had happened when they said it would. A month later, an still waiting for the full restart. But it cant be long now..

Well, it dropped then its back u again. I don't have level 2. Must be some large buys coming through.

I thnk the rally is starting.... the reversal took a few days to halt the fall, but looks like that've over now. Time to strap-in:)

...dropped from 110p...

This may be the last time you'll see prices in the year lows. Price only dropped from in june last year when the main asset, Montara's production halved, and since then the price has ranged from 65p bottom to 80p, and 90p, in the hope of Montara coming back online. Now that is has( 1 well) and the rest to folow shortly , this could well be the last time to load up right at the bottom. GL. Exciting few weeks ahead.

..just hope the general markets don;t crash before then, will be shifting funds after this to my shorting account, to short the markets. I see further bank runs, and US recession this year, which won't be good for stocks. As long oil goes up, which it will as EU resreves are further depleted, then will be trading in and out of good energy shares.