Yes, those who increased short position on 20th wish they hadn't.
And to go one step further.... any shorts opens after the 27th November at 31p will be in a loss... which is about 3.74% of them. That's alot.
Yes Neil777... good point, but UNO reverse card with your theory...
Over half the current shorts were increased around start/mid November, at around 45p (ish)...
So nice try... but charts don't lie ;)
And infaco... Bad Christmas now confirmed.
Petrofac is a Golden Goose.
Can't imagine anyone with an open short position having a good Christmas at all.
Exactly that Rock8. Shorts are Heavily Trapped Here.
There aren't enough shares for them to buy back on free-float without a serious price incline. They overcooked it.
Those who know this should blast these shorters into the atmosphere. Grab, Twist and Pull!!... for a few words.
Analytical and fundamentals looking good here, the only thing not looking good is any material information supporting the over-reached short positions... which leads me to think the increase is a last resort to slow down for an orderly exit.
With a Santa rally abound, decreasing interest rates, decreasing inflation, increasing the order book etc.. there are so many reasons for these shorts to exit; and little for them to stay around.
And before any negs repeat about net debt and liquidity which has some minor validity, you are one good RNS's away from being embers in my festive fire ;)
Merry Christmas to all!
STOCKBUSTER. Happy to share my insights with fellow investors of PFC.
Hope everyone can take a bit of positive contentment from this and we continue to prove the neg-heads wrong as they lose more and more and things get better and better for this company.
I have followed Petrofac for 10+ years.
There was a period, around about 5 years ago where I saw other companies such as WG make a lot better decisions with regards to where the company's future was headed and diverting projects away from O&G, due to the 2015-2017 oil price drop.
At that time there was also the looming SFO investigation that I'm sure a lot of us thought would be over a lot quicker than it was. During that period, I didn't feel confident in Petrofac's ability to sustain their business at previous levels and there was one RNS they released at that time that made me think of their priorities... which did not align with shareholders (following trends and no real grip on the situation).
Reading through the latest RNSs this year, it's clear to me that they have made some serious changes to that way of thinking, and have built up such a big order book for the future it's clear to me that they now mean business, becoming a real contender in the energy sector once again. There sure has been a 180 turn in strategy done over the past couple of years.
On this basis, I started to take more interest in the company, however was not holding, even as the SP got worse and the company's future got better (the last year and this one). The SP here will catch up again, IMO, it is a lagging indicator of the company's true position and like a lot of things these days, can be easily manipulated by bad press and fake news. Just as the shorts tried to attack and we all seen a bloody steal at lower SP levels. Clear away the fog and the negatives (interest rates, Inflation, doom and gloom, net debt... anything that plays into the media or shorters hands) and you will start to see a clearer picture of the company that Petrofac is setting itself up to be once again.
With news looking more positive worldwide in 2024, I'm sure this is an investment I'll be happy to be holding well into 2025.
I am one of the fortunate ones who also bought in at 15p, however, you will not see me selling any of these and I will be adding along the way as we progress back to a minimum of 70p prior to any positive results being issued by the company next year. I am of the way of thinking that after positive results are posted in the next year, PFC will be upwards of 100p (and more) getting back on track to being a competitor to WG in the sector. I may also hold out for a divi the years following and IMO anyone who get's in at anything around 30p-40p today will not look back. Just better hope you get in before more serious II take control.
On the note's of liquidity and debt, I see these as being a minimum risk from here due to positive outlooks in 2024 and the massive potential PFC has that even creditors can not ignore.
Onwards and upwards, PFC - STRONG BUY.
I would also recommend buying and holding over the festive period. Great advice Tony.
Pleased that you have found god now Tony, he's probably the only one that going to save your short position.
Set my limit at 600p this morning.
They won't be lending out these... or the ones I'll be buying today before this recharges over holidays. +++
They know that we all know they truly messed up here...
The progression of this share being stepped up each day is too convenient.
Dragging it down a little before end of play and then witnessing the bigger orders come in... followed by big auction in morning to see how much they will get away with...
Let's see what today's half day brings. My guess is BLUE
DAY :D
Cats out the bag, i'm ready to be proven wrong...
STRONG BUY + HOLD
They can try bring it down... It might be their only play left to try buy back at lower levels.
Got to love them for trying haha
Another Great day here for Pertofac!
Another Bad Day here for Short Hedges!
Bring on tomorrows half day... I've got another bag waiting. Ching Ching! :D - Not what the shorters want to read. (Just close your eyes and pretend it's all a nightmare)
In this case (PFC) and at this point, with all that we now know... these hedge funds are becoming our friends.
Keep them open, buy back at 100p+. We don't care. Longer they hold, the more we see them hurt :D
I'm very happy not to have any money held with these funds lol
Just doing my bit. This opportunity back to 70p... Wow, it's good to be on this side of the trade.
Panic stations for the shorts hahaha
A reduction in shorts will be a sign to buy more.
We will find out tomorrow if any have reduced today.
I'm here to pile on the pressure, as they buy-back, I buy more, and will continue to do so until they're gone.
I believe many in here feel the same way towards these types of people.
Time to make them pay heavy. Bring on tomorrow.
Yes Neil we all believe you. Thanks for sharing.
42p Near term - End of Year Target
70p Mid term - End of Q1
100p+ - End of Q2
My position - Holding + Adding.
SHORTERS WHAT YOU SAYING TO IT?! TRUELY CAUGHT WITH YOUR PANTS DOWN WITH PFC :D
This will mature week on week. Love it! :D
Hahahaha Correct :D
We all smelled a rat! And a Rat has been found!...
I have no sympathy for the shorts, we gave them enough time... but their greed got the better of them.
Every second before 8am smells like more and more smoke :D
I'm guessing 28-32p range tomorrow.
STRONG BUY :D