Lol lost my mojo I guess being up 15% for the month of august is called losing your mojo I’ll let the hedge funds know their 10% gains annually is rubbish. In any case keep buying with your infinite funds as you do on every dip and keep celebrating the rise above 300p for the umpteenth time.
All good nevershell balanced approached I think people get too carried away by 2-3p rises admittedly I’ve sold early by 2p but my peace of mind is more important than that. With Jackson hole meeting taking place this week I anticipate more volatility as we go into sept so I’m cashing out all positions and sitting out till at least oct because of mounting fear of a larger market pull back. Remember at some point all these gains across the markets have to be cashed out not every hedge fund runs with a buffet philosophy.
Bought some at 306 huge bulk and sold last week on the rise then bought bp at 289 and sold this morning for 292.7. The 3.19 ones I bought were only like 5000 shares off set that with the 306 buys. No deramps here but the sp is below the 200ma and struggling to get back over it with the negative news flow atm it looks like the weekly target of 280 on the 50ma is there. Anyway good luck all my own views not telling anyone to sell or buy but for me I can’t see myself coming back into this share when there are other plays out there.
Sold out this morning minuscule profit but this share left me too anxious over the weekend. Should of stuck with glencore lol I think this is the last time I’ll be buying bp I think the sp is just going lower each week that passes by. It will be a miracle if it his 3 quid again before sept.
Don’t think it impacts too much doesn’t look like the buy backs have much effect today perhaps a bit of an uplift tomorrow if the markets allow it. Not sure if the options expiry will matter much tomorrow as the falls today across the board has been steep but never say never.
Ditch oil for coal lol read that because gas prices went so high those parts of the world like China and India have increased their coal usage and there is now a shortage building. Go figure glencore should benefit from that as they've doubled down on that dirty product.
RE: Oil price drop overdone IMHO.19 Aug 2021 10:10
One thing i know about markets is they don't like uncertainty the tapering has led to uncertainty in that it's going to take a while to see the impact of the fed pulling liquidity out of the market this is just the larger market pulling out some positions and taking a wait and see approach. If the numbers later in the year are not that bad and things improved then the cash will come back into equities. There has been a few ft articles indicating last month large number of positions have moved into defensive assets such as utilities etc. What we will see though is plenty of trading opportunities as this has brought about volatility.
Keep an eye on Glencore i did a quick buy on it this morning at 3.19 might look for a quick flip on that for 323-325p it's no stamp duty so you can trade it a bit easier than most. Took a small position though . I would wait before putting any more cash in as a possible fly in the ointment is the fed tapering minutes which is after hrs today and options expiry Friday.
Fair play I think Jaye was the person who bought don't know if they pocketed the rise hope they did in any case if they did buy on Monday they would still be in profit. I think at the moment miners are in a sticky position they will make profits for sure as long as Iron ore is above $30-$50. With the china crackdown on steel though the profits will be a lot less come q3-q4 so if analysts predict big profits and miners don't meet it then the prices will fall back sharply. Most the money to be made on miners has been made near term. Short term - Long term demand of iron ore which has driven profits looks a bit blurry analysts are predicting a year on year drop of iron ore prices. I think it won't be as bad because a lot of iron ore is going to be needed for these big infrastructure projects.
You’re right about supporting the sp from a complete free fall in regards to buy backs but isn’t that something to worry about in sept? Buy backs in my opinion just help people trade the share. l’ve traded in and out for a few pennies since the buy back more than I would cause the buy backs always trigger upward pressure after a drop of at least 4-5 pence enough for one to make 1-2% a trade. Once the buy back finishes end of sept what’s to stop the sp drifting further down? In the end I think a lot of people are doing this and in reality bps buy backs is taking money from you as investors pockets and placing it into the traders pockets.
Not sure on entry price for RIO at the moment I'm focused on market sentiment to guide me on that one if I do buy ill let you know but, and at the moment I'm sitting out. Every time the market looks as though it will drop it recovers once the UK markets close. It's a peculiar situation where the bulls keep buying the dip. Not sure when that exhaustion will run out.
With BP I think it will stage a better recovery come Christmas January time once we see some better figures Covid wise too there are large parts of the world still lacking high enough vaccinations. For now my honest opinion on it is that it's a 5-6p swing trade if you can get it right every time it dips lower the buy backs pull it back up this will continue till the end of sept really as there is no real news flow forthcoming. The buy backs don't really benefit BP investors tbh.
No worries Mark I think BP will come up good how good not sure but, I've def moved away from the thinking of it seeing 5 quid anytime soon. The world has changed too much to ignore those factors holding the SP back really. On another note RIO is looking tasty after the big divi pay out it's just a matter of timing when to buy but, I'm also watching China and their iron ore price manipulation.
Don't know about that but, the FTSE 100 has been dead in terms of recovery since 2016 never really peaked over the 7000s. There needs to be a shift from the financials/insurance and commods. BHP though their management has played a blinder in how they're planning to offload the oil and gas portion of their assets. They have been doing that for a long time now past 10 years they got rid of assets that were not part of longer term sustainability. It's no wonder why Shell poached one of their guys who was strategic in BHP's transformation something I mentioned months ago.