Member Info for mojo7865

Nope but when the rsi is over heating on the commodity too I’m cautious just because I’m not sharing the same views no need to attack. If you’re on the opposite side of the fence that’s your purgative. Oil news atm is very positive no doubt but, we’ve seen over the past year how fragile it is too. I use a combination of indicators and macro economics to base my position on. Friday will be interesting if I get it wrong I get it wrong. Don’t get so wound up by others views.

Will it hit magical 343? Only 2 points away from overbought on the rsi. I was tempted to buy this morning but must resist the urge lol gl all.

343 my original target is looking like the big resistance i think judging by the RSI that is when it will peak out same with Brent and oil it's literally at 69 on the RSI at the mo so I think buying now would be a huge mistake on my part Friday is 3 trading days away I will re assess my position the.

I think you're right about something not being right with poo being at the level it is and bp only at 3.32 however i disagree with the fracking. Too many banks are under green lending constraints now and also fracking is seen as risky lending so i don't think high poo is necessarily a bad thing when it comes to that. What it does help with though is the green agenda in that renewables look more appealing with fossil fuels being more expensive. Only way fracking becomes a problem is when Biden may need to rethink his energy strategy as oil dependence isn't going away short term as far as I can tell energy independence is the goal for the USA so they may need to revisit fracking short term.

I'd love to hold to 5 quid i believe it will get there the problem for me is time constraint I haven't got that long to hold it for personal reasons which sucks but it is what it is. I do wish you guys the best of luck on this If it decides to pull back I'll be back in the near future otherwise I'll sit on the side lines and go for something else. Glencore and the other mining lot are starting to look appealing again.

I’m definitely and utterly wrong at the min but, you have to have conviction with your calls and stand by them. I said I won’t be a buyer till after June maybe because I believe contract expiries this month will move the entire market. Whether it happens remains to be seen it will go either way.

Maybe but I’m going to stick with my target never chase a rising share

Yowzzer I just saw Rdsb lol wish I never sold that last week. Jheez what options lol.

Looks like oil on the move lack of Iran deal might end up pushing to 40s today at USA open

Immediately no but, possibly within the next 2 weeks I’m banking on contract expiration volatility but will see it can just as easily hit 343 in same period.

Immedi

Limit order set for today at 310p too busy to watch this all day will have a look at the finish later. Not expecting much movement till tomorrow fed meeting today so likely action after hrs.

Has crept along quite nicely I’m going to have to move up to 3.10 if it even goes there.

Agree rr a tempting one risky but I think the fact that it’s got gov contracts it will survive worse case it gets nationalised. I think flights are still way off at least till early 2022 really depends on other countries catching up on their vaccine programs that’s when re will probably at least double from its current sp. the days of 7-10 quid have gone though too much dilution. Agree with the relevance of selling in May too the economy in general is in recovery mode it reminds me of early 2009 March when things kicked off all the way to early 2011 that first year of boom saw massive gains. BP and shell no doubt if oil stays above $60 most those losses were write downs not actual losses.

Good one to look into there are fees but you can buy these via some of your usual broker etc.

https://www.ishares.com/uk/individual/en/products/251795/ishares-ftse-100-ucits-etf-inc-fund

Just to add to that my position as of right now is 10% ulvr 90% cash.

At the moment low risk ftse 100 companies is my thing. I used to have holdings in bhp,aal, and Rio but, sold them off a while ago because I feel it’s reached a point where it’s better to take the capital gains vs divi. I switched to energy during covid because it was undervalued it was the first time I bought an oily since 2012. The other holdings I have interest in is ulvr as a defensive alternative it’s boring but reliable I may reduce my stake because i don’t like it’s product portfolio it’s beginning to lack unless they make some decent acquisitions. I used to have a sizeable portion of Lloyds too I stuck with it through covid because it was a good divi earner but recently sold off at a loss around 45p because of boe intervention on divi I didn’t like private companies having outside interference. I won’t be touching U.K. banking ever again after that. I used to dabble in USA stocks but complex tax affairs make it difficult to manage so I stick with U.K. at the moment it’s hard to have a pick of what to hold In uk shares other than oil because most things have recovered their fair value a pull back is needed to create more liquidity In my opinion that’s why quite a few shares have stagnated.

I think so I don’t really like to buy when the rsi is 50 plus on the daily. I’m still going to wait and see how contract expiries play out. I still think there’s life to push it to 343 at the moment at which point I’m expecting the rsi to hit 70 plus but, there’s not much in it for me to buy now that’s why I won’t even at 325p I usually buy at the 50ma in most cases if the trend is up at the mo that’s around the 309-310 level now.

Unless I see a significant enough reason then probably not unless it comes back down. I’ll continue to monitor what goes on but, rather wait for a general market pullback and assess after.

Agree long term holding cost me a years salary in the past. I wouldn’t consider myself a day trader more like an observer of day to day macro economics. If I see a situation that impacts my investment I alter my position accordingly. A lot of people like to quote buffet but, even he sold off airlines because of a change in circumstances. Many think he got it wrong time always proves who’s right and who was wrong however, none of us really know how things will play out it’s all guess work and estimation. You never stop learning in the markets. A week or two from now my position not to buy may turn out to be an absolute disaster and I miss out yet, if I’m right it’s a great move. End of the day you don’t lose money by sitting on the side lines you just don’t gain. It’s always shoulda woulda coulda in this game. I’ve sold bp at 319 and Rdsb at 13.54 bad call 100% but it’s not that far away where I couldn’t buy again if I felt it’s worth jumping on the spike but at the moment it looks like I’d get impaled if I do. One of my golden rules is never buy higher than where you sold you may miss on gains but it’s a rule that has proved profitable over the years.