Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Was going to write the same yesterday Dec 31st is the tax assessment date for barrels on hand, they try and dump and refine as much as possible to avoid having to pay tax on those barrels. Hence those silly builds on products yet big draw on crude . I really should trade this next year though sods law others will be doing the same and negate the easy day short . Bet oil rebounds now especially as we are heading for positive seasonality
that and an absurd over reaction to 1 analyst who had he written an Enquest buy note at 50p would not have been followed with a steep rise . Enquest hold somehow got all frightful despite the news most never would have guessed of Bressay valuation .
Got back to see us down 6% ! What the heck ? Bressay asset sale already forgotten as the implied value ? At first I thought Brent was down $5 but again that was not the case ! So retail believes Jeffries more than JP Morgan ! Poor forecasts are always believed yet better ones never are. That is the lesson here , Fear is stronger
Work being done by Foxtons is clearly recognised yet the share price is lagging , making this an opportunity as it seems that 2 share holders who total 10% of the firm are gunning for much higher returns or a sale process. Think I saw a 120p letter last year so this year with the additional value created I suspect 120 would be seen relatively unfavourably . 120 plus then for me please .
I hold and am in the money here thankfully
Start of the year looks very promising , am averaged at 330 so looking forward to seeing that smashed who knows maybe even this week . Brent has started in great form so far. Nat Gas in the US up lots this morning , will wait to see when it opens here in London .
Needless to say am super excited with the acquisition. Its immense news .
Fellow Enquest shareholders and traders wishing you all a profitable year , and it looks like Brent is on fire already so should be a great start . Still 19p to break even for me . Been hanging in there but that Bressay valuation really excited me . Hope the shares goes ballistic
Hi Stumpy , I agree in fact price of oil has been speculative in my view all year or most of it . Lets see . As there is always a game in the media to play things down then they'll come out with US having to replenish the SPR etc A crooked market this one
Fairplay Stumpy , would have felt happier if you had a similar view ;-))
I tend to trade the cfd too as well as hold a core . this latter holding though is now at 330ish average . post dividends and some recent buys . I will exit if I can double that price .
( For disclosure I hold) Reason of my view is that the technical set up looks good , stochastics moving out of over sold and RSI above 50 now Wouldn't surprise if we re-test the 200ma and this time stay above it in the next weeks
All in my opinion of course .
Must say its long overdue , mortgage rates looking a lot better too. London seems busy as ever . Autumn statement may add further sparkle Lets see
Lets hope so , but today's US CPI really ignited US equities even real estate.
Well as rates are decreasing a lot on the back of the CPI data in the US , the UK ones down too today 5y at 4.223. That usually correlates well with Foxtons. Rates down Foxtons up . I don't really see a slowdown for Foxtons so keep on holding my position here .
Just shows that when we get a minimum of trades the stocks rallies quick ! Imagine if we really had some volume Tells me this may be ready for movement and big one too. I hold a few .
It should. Look at GB05Y curve on trading view Everytime rates start to fall Foxtons goes up and rates are now forecasted to fall . Was looking at the SOFR in the US and 2024 should see rate cuts based on the forward swap curve , am looking for the UK one .
Me am bullish here as activity will pick up as financing costs fall . Rents already doing very well . Recession or not London will get busy
Proving to be resilient based on today's stats , MoM +0.9% vs -0.4% forecasted and YoY -3.3% vs -4.8% forecasted+
Strikes me as once the extreme low rates are washed out the market will settle to more realistic expectations and better financed mortgages . Too many had interest only type mortgages. Very wrong .
At least in London all I hear is that finding a place is very hard , so not much has changed at all. Always has been the case
Voice of Reason ,
I agree and are right , I have been saying it for years , once you inflation adjust oil then its not so bad as they make out.
After all those who work for oil companies would have their salaries go up over the years too. They are not flat for decades.
Got to be a good start of the week and good sign
The last time we broke a 200ma properly the share went from 390s to 500 quite rapidly in Aug 22 .
Not suggesting it will do it again but just wished to highlight it .
March 2022 had a similar spurt. So I wonder if the trend followers will be looking at this to add simply as strategy demands it.
We could be in for a decent rise based on these precedents . Am still averaged at 350s though the divi is due to be re-invested autoamatically , Should reduce the average by a few pennies which is always nice yet small fry