Oilies tofay31 May 2019 10:14
After dropping from 110 a month ago, by a country mile the worst ever performer of the whole of the oil sector, this morning we witness the usual pattern of PMO dropping like a stone compares to all other oilies:
RKH - Up 0.5%
BP - Down 0.5%
GENEL - Down 2%
CNE - Down 3%
TLW - Down 3%
ENQ - Down 4%
PMO - Down 7%
This trend is exacerbated by the fact that when oilies go up, PMO used to be the biggest riser, but now it is the smallest riser.
So... biggest dropper and smallest riser. That’s why our sp in the 70s is as pathetic and abysmal as it has ever performed. Even when it hit 19 a few years ago, that was because we seemed to go bust then. Now we have everything in our favour, like Zama , Tolmount, Sea Lion etc etc.