Member Info for onedb

I see a breakout of current triangle at around 26p, if we can get it above this on good volume we have a very good next leg up to take us in the low 30s.
Equally the high reached end of August this year if broken will become a higher high and that to me is not a sign of a downtrend hence a good sign for those who are long .
Plenty to rise in RSI terms too , if momentum pops up we have new year highs incoming
For so long as we are above the 20MA I think momentum is on our side

All my view and for disclosure am long here and hold

won' t last . in my view this is temporary and GE not priced

All broker coverage is way above today .
THis price action is all retail psychology at it's worst. Imagine we go 85 to 84 we drop in price but from 70 to 85 we never really saw a rise . How can that be ?

the counter party of the equity swap has to manage the hedge so will buy or sell stock to keep things balance .

We never saw the equivalent £12m in shares bought. we saw a small amount and that was the immediate hedge .

Remember its not sellers but hedgers of the equity swap , the portion that needs hedging .

In my view this is causing un necessary confusion , Helikon is not long the stock but the equity swap, the flows you spot on the volume blotter as the hedging that is taking place on a daily basis as they manage the hedge

haha , don't worry am no day trader. Totally different strategy . One book is physical only UK mostly resources or growth IT stuff the other is spreads on these plays to have fun at leverage, ( but relatively tiny ) I also can't trade my pro book as compliance sees all my trades and don't want any conflicts of interest.

But I hope you are right on the rise . I think these Brent and Gas prices are more structural than many think. Hence here to stay.

Big draws on products , very bullish . Last night's API was crazy in the product draws .

Just about everything is bullish for oil bar Enquest . even the brokers are giving upgrades pre GE. DOn't know what to think other than maybe the equity swap daily balancing the portion that needs hedging is or may be confusing the volume flow for equity retail traders . Am puzzled otherwise as to what isn't bullish here

Kraken , yes you are :-) I found today and recent weeks so frustrating too

What an abysmal relative performance today ! Given that these small caps are highly leveraged and should trade with a high beta , at the time of typing we have multi year record highs in Brent Enq up 1.2% and Brent up 1.4% !! Very frustrating , should be in the 30s and upwards . These levels are too low . The underperformance vs SQZ Serica since August is staggering , today at 226 as I type we are 0.1 of Serica vs a couple of months ago 0.15 or roughly where we should be at 33/34
Annoying to under perform like this on a giant Brent rally

That was superb 'barclays overweight almost diabetic ' made me chuckle .

I have added again , second trade in 3 days . Under 23p it's a steal in my view . So given we all want to be in the 30s and more , its pointless to have that view and not buy the dip .
My bulk remains at 12.85 and average is now probably a little higher but can't resist this price .
Brent cash back to $81 so once again these dips are all insane tree shakes, and Enq is way to low and underperforming Brent for ages now. Just bringing back the ratio Enq to Brent as we saw in a few weeks ago implies at least 28 plus ( i used 0.35 and its higher)
Bringing it back to 2020s highs give in excess of 44p ( i used 0.55*80$ )

The ratio Enq/BRENT is too low , on trading view use ENQ/UKOIL and you'll see what am on about
And the revaluation of the assets lets me believe that part of the past impairments should be re-gained .

That is the divergence you trade in my view Kraken, its clear in my view that it doesn't make sense and that the unhedged barrels produced and those in the ground are worth more .
This wobble came from Putin's release of more gas to stabilise the out of control gas prices ( which in fairness where too high and unnecessary) But I don't doubt oil is going up , this is a buy the dip moment .
No advice , just my opinion and may add under 23 as i did 2 days ago at 24.8 .

All the best

what a weird opening ! what is wrong with retail traders ... the herd bb mentality of fear and greed

I disagree . An API crude built of 951k is in fact very bullish given the time of the year where we should be getting storage builds , its a seasonal reality. Its not the norm to see draws at this time of the year.
If we have confirmed builds in the next few weeks of this size , then its super bullish and $90 is coming

you want to giggle ? I couldn't remember the term 'impairment' !! All that money wasted on my CIMA lol

I was wondering if at some point we get revaluations too, given over the years if am not mistaken many oillies including Enquest were subject to adverse revaluations. Time for oillies to represent more fair valuations in my view

typo

So core physical remains the same 12.85 plus the 19s from the offer and today I added a spread
I can't see why this isn't at 30p already and marching on , all TA looks good to me . Momentum / Trend . A break over the 27s and then sky blue . Regardless of GE .

All in my opinion and no advice intended .

thanks Romaron, I don't usually post anything reportable and always just opinion on my own positions .

A simple ratio TLW/ENQ and what they say .

Oh well.
Time to change topic

I did respond with facts and figures yet i noticed my post was taken down , very strange.

Facts remain 14 times in 2019 to 12 times in 2020 to 2.14 as of close of Friday . Can' compare share price of the two
Enquest has outperformed TLW and I look at the whole sector.

I have been there . Its old fashioned but good location as you say and I had 2 good breakfast there, work related . I haven't though slept there . Its in Victoria not to far from tube and modern food area just by it and tube not too far . I am a Londoner so know the area well. Given its on the main street I hope your room faces away from it unless they have super double glazing