Member Info for mojo7865

Feel the same mark about mixed feelings especially on the wrong end of the trade. But, adamant the gas crisis is a small blip which when resolved will bring things back down to a sensible level. Too many negative factors outside of bp for me. You can imagine the gov top priority atm is to sort it asap. I still don’t get the rise I would of thought the stations both and shell and bp closing hurts them as they aren’t making the sales there both in retail and fuel but who knows. Anyway I’ll see out my trade unless it hits 3.40 which point I’ll take the loss.

Bold move by the central bank. Will definitely put a huge dampner on crypto now.

https://www.reuters.com/world/china/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24/

Aiming for low 3s mark close prob around 3.05

Looking that way so far.

Regretting not buying glencore on the dip lol

Makes sense mark wasn’t trying to convince you of buying any was just mentioning that I had taken a dip and wanted to know if you’ve ventured down that dark alley. I haven’t put much just tbh because like you I’ve seen it since 2009 and it’s movements remind me of rich or bust so only put in a minuscule amount that I can afford to lose. If it works out over 10 years tidy sum if it doesn’t then it’s less than a months salary.

black gold? I thought bp was going green or are they just blowing wind out of their backside lmao.

Pig any exposure to paypal? they may end up taking away some of coinbase business now that they have crypto trading on there. No need for a complex wallet any more.

Congrats Mark think take a few days out and chill now it's been a rollercoaster this one. Just out of curiosity have you entertained crypto at all? I thought I never would be after the recent dip I dabbled a bit nothing big at least not big enough to care if it goes to 0. Recently bought some ether.

Yes and HSBC use to be up a 6 quid share.... just saying lol.

The risk sentiment got a bit of a boost, earlier on, after Evergrande announced that the main unit Hengda Real Estate group will make a coupon payment for onshore bonds due September 23.

However, the risk-on flows quickly ebbed after investors reassessed the risks, considering that China Evergrande’s repayment to its foreign bondholders still looms on Thursday and that nothing is announced for the same.

That’s the domestic bond they’re still unlikely to meet Thursday foreign bond interest payment.

Only the start like I said.

Reportedly, Evergrande also owes money to about 171 domestic banks and 121 other financial firms. Therefore, if the company defaults completely, there will be consequences for the banking system. A credit crunch could follow, analysts fear, which would be bad news for China and the global economy.

UBS estimates there are 10 developers with potentially risky positions with combined contract sales of 1.86tn yuan – or 2.7 times Evergrande’s size. In other words, Evergrande is only the tip of the iceberg.

Beijing is facing a dilemma. If it steps in to bail out Evergrande, what message will that send to other heavily indebted developers? If it does not help, the fallout could spread to other sectors of the economy.

It probably makes sense more on indices but they can be more volatile you never really know which direction they would go in because of the makeup of shares in them. With an individual share you just need to focus on that and the commodity in general.

I'm willing to let it ride up to 3.4 peter before I admit defeat. Until then Yolo.

888k margin Jaye. I just don't see the rose tinted glasses aspect with the current market. High debt levels and risk of default on many things. Consumer borrowing at an all time high i.e. over leveraged housing market on a global scale. Chinese slow down etc etc etc. I'm still leaning on the side of a massive correction on the downside there's still many things that weigh on the downside to me. Most shares are still down from the highs of this year.

Some see things differently and I agree gas prices going up has been a rocket behind the current movement but, like all commodity rises like that it's unsustainable. What happened to the mining super cycle? I don't think those losses we're seeing on that side of the commods will recover for a good number of years. Let November come around and COP26 and we will see where the share price is. Also Evergrande isn't out of the woods yet there's a number of bond payments due in a short time. They kept Lehman going for a little while too until the ones in the know could cut some of their losses and before they revealed the magnitude of situation. But hey what do I know BP 450p by Dec right?

https://ibb.co/h29DbQQ quick sell sell lmao.

Might let this position I took out run into Thursday

https://ibb.co/vDyq8DN

Mark I agree I think the market has underplayed the significance of this potential default Thursday although it's not a default as they would have 30 days to make the interest payment before it becomes that. However, $300 billion in liabilities I can imagine some banks having private discussions asking how much exposure they have. Apparently it's not even Chinese banks that will be hit hard on a default it's majority foreign. The contagion could be financial crisis part2 UK banks have built up financial buffers for this but I think if Europe is highly exposed their banks will go under dragging the rest down with it. American banks always seem to have the inside track on this stuff and probably will find out a few weeks later they sold on their bonds to others months ago. Could be pigeon for Christmas this year instead of turkey.

Just read the posts that's hilarious Logans run anyone sounds like it would appeal to some in this forum in which case. Don't invest in a pension and don't rely on a state pension just hope you kick the bucket before your 60s otherwise some other young buck will come along and complain about the debt you left them lmao. Aren't the people ending up on furlough in the same category based on the statements here why not pile them on to the scrap heap. Greed is a sad sad thing.