Member Info for nhawan

The dip at the end is probably traders closing out or just an effort to scare out pi's. POO is moving up before OPEC cuts so all markets are positive for now.

Bounce coming.

Looks like this is heading for 28p+. the real rise usually starts after 12pm. POO is rising in anticipation of the OPEC cuts on Friday.

Yes looks like the oil cuts starting Friday are gonna push shares higher. 20p gap was filled yesterday so probably will test 30p over the next few days.

The bounce was due to anticipation of the BP results imo. They weren't that good so expect it to drop again. Designed to suck in more pi's.

That's downwards pressure on POO. Some were expecting prices to rise but here we are with even the saudis selling at sub-$20. They would not be setting such low prices if they thought the cuts will cause a huge rise.
Brent spot price is $19.898 right now.

http://www.livecharts.co.uk/MarketCharts/brent.php

Oil price is diving probably due to the big oil earnings coming out this week. Could be a bloodbath this week.

BIG OIL 1Q 2020 EARNINGS SEASON:

BP: Tue, April 28
Shell: Thu, April 30
Exxon: Fri, May 1
Chevron: Fri, May 1
Total: Tue, May 5

It struggled to get to 24p on Friday. Doesn't look likelt to get there today. 23p might be your best bet before the next leg down.

Dipping anything in now may result in you being underwater. Friday mornings are not always the best to get in especially when traders usually sell off in the afternoon.

It's common sense. We aren't expecting any news after yesterday so why jump in? I suspect the next asset sale will happen after the new CEO takes charge. Also best to keep power dry for other shares.

Won't be buying in on a Friday. Not when most close positions in the afternoon ;)

Brent June futures expire on 30th April. Speculators will be selling oil before that.

Brent spot price is dropping quite quickly. Probably the realisation that Trump and Iran are just blowing hot air and also the Brent futures contract expires on April 30th. Speculators are selling before that date to avoid something similar to the WTI fiasco. Downwards pressure will be coming next week.

The rampers and those who foolishly bought in on the spike yesterday are trying to silence those who actually know the markets. TLW is worth less than 16p at the current oil price and that is where the market is probably taking it short term.
The company is worth around 30p if POO gets to $30, not the dream figures rampers like to propagate. Look at the pre-crash price in January to get a realistic target price.

Or one last pump to suck in more pi's. Always works.

While rampers here rty to suck people in the actual background to the asset sale doesn't look as pleasant.
https://uk.investing.com/news/commodities-news/tullow-exits-uganda-project-sells-stake-to-total-for-575-million-2102637

The article paints a picture of Tullow as a struggling company. They need to raise $1B to avoid a debt for equity swap and destroy shareholder value.

Sell on news has always worked for most people but some never learn.

With plenty of other more reliable oilies to play with, why would anyone put their cash here? It won't pop unless they manage to pump out over 1200 bopd and the tankers so far don't seem to be close.

Dont be shocked if we finish on 20p

I trade and make no secret of it. I posted when I sold and why I think it's going down. Better than the constant BS posts claiming this will fly to 60p or whatever without any reasoning to back it up. The RNS spiked the sp but the bottom line is that it was a distressed sale. Would you be proud or happy to have to sell something to pay off a debt?