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Blue horseshoe certainly likes Premier Oil again this morning.

Also another new decent sized holder in River and Mercantile.

Wouldn’t want to be out of this in September....Ho Ho Ho

Alternatively, having broken the neckline of a double bottom at 75.80, which has been retested as support and bounced off, you have 5.50 upside to a target of 81.30? Break out of the corrective channel above 78.00 will confirm the move. Physical diffs seem to be picking up.....

And without the need for emotive language. Trend is your friend

ROS1, I was alwAys under the impression that the after hours trades were just poor deal entry from the back office clerks, ie reinputting mistakes and late deal entry errors? Apart from the lower exports already out of Iran, another news wire citing supply bottlenecks as the transportation costs increase in the US. Still looking for top of recent range above 79.25 on my radar.

And draws in dist -1554and rbob -837. Cushing virtually flat. All good

Cable hasn’t closed above the 50 day MA (currently at 130.17) since April. Let’s see if resistance holds,

Pure cable effect. All the US oil companies are up. Feels somewhat overdone. Wish I had their ftse/gbp/oil/equity Algo as it doesn’t make much sense apart from pure sentiment. On the plus side, Brent has stayed above the neckline around 75.80 on that double bottom. Top of the range next stop?

Trump would probably be happier for this stock market recovery to continue into the November mid terms. Faangtastic middle America needs to still feel rich. I see tensions with China easing in the next few weeks.

Worldwide stocks need to build before Iranian Sanctions, and Trump will not tolerate oil over 80 as we’ve seen so far. Still makes a decent return for PMO though, if you can take the bumps in the road. Dated Brent still weakish as the physical needs to find homes, but demand should pick up into the Autumn. Hurricane activity has also been quite low this season so far.

So roughly 776m shares in issue, with nearly 29m still outstanding by the cbh, represents apx 3.7%. The main bond arbitrage players short 3% and stock on loan number 7.07% at the end of July (slightly up from June). Have to think that the bonds are pretty much covered by the shorts, and there is some delta being played around their option (hence the slight reduction in shorts over 0.5% last week).

MOL Catcher barrels, I still see as the main short term target. Should get some news out of Cairn end of the week, early next week on its arbitration case.

Still watching the 50 week MA closing in on the 200 week MA, not seen for nearly a decade.

End of next week can't come quick enough.

Analysts seem to like the presentation judging by the share price action. With most of the CBH hedged in, hopefully see new highs very soon. Even before a September?

I’ve only got patchy reception on the beach on the South Coast. Let me know if any answers on MOL barrels and any questions about the strength of the dollar. Thanks Geo in advance

Potential acquisition opportunities that enhance our asset base and create synergies with our existing core businesses continue to be evaluated while our non-core disposal programme progressed over the period.

At rates upto 70kbd, seems like a no brainer to add instant value, hopefully before a reserves upgrade.

Unfortunately it’s his full time job to post hoping to cause a bit of disruption and add some volatility by unsettling the weak holders. The stocks that are posted about are all contrarian plays for the try and get rich quick crew. Poor mans Andy P, but with the same intent. Sad but true, but irrelevant if you are confident in your investment decisions.

Oil should rally to the top of the range then we will see a Trump tweet to stop it over heating, something that he won’t be able to control come Q4. The trade is sceptical. Let’s hope he doesn’t have any hurricanes to contend with. Tomorrow should be fine, the higher targets will come, just don’t be a get rich overnight chump and stop yourself out. Wouldn’t want to be out of this in September......?

You could have saved Pierre et al a fortune ...,

https://mobile-reuters-com.cdn.ampproject.org/c/s/mobile.reuters.com/article/amp/idUSKBN1L21U9

Fingers on buzzers first thing tomorrow. Break that 118 line talked about earlier and closed near enough and should get an instant five points from the mini double bottom. Clearly seen on 1hr chart.

Blue Horseshoe certainly likes PMO. Institutions still buying....?

100 day MA the saviour of yesterday’s sell off ( or Barclays for the non TA believers) and the bounce setting up a great weekly candlestick that bodes well for next weeks results. Hopefully we get some guidance on the debt trajectory, since we already know the half year number. Another one for the long term Chartists, should see golden cross on the weekly MA late next week or early the following last seen in 2009....

In a FT article earlier this year it was quoted that “BlackRock’s iShares Core UK Gilts, for example, has about two-thirds of the fund on loan at any one time and accepts equities and other ETFs as collateral” and bonds. They lend stock out for a fee, the other party sells them in the market, and use the bond conversion to hand them back to blackrock at a later date. Explains some of the downward pressure. Remember in the last cbh event BOA and Deutsche Bank were large providers of this service. Roll on September

Which also probably accounts for the fact that we have lost so many posters over the last few months. Some might say for the better.....

Kids time as well, make the most of what’s left of the summer

Like Mackenzie Cundill, Baillie Gifford and SIA all adding decent chunks in recent weeks. Ratio growing ever more in the institutions favour. Interesting to see some US investors in the mix as well as the usual UK pension funds.

Although all very summer range bound, if Brent can break 73.25ish it should trigger the move back to top of the range and key resistance around 75.80 imo. Pmo chart also very much in a consolidation pattern. Flat bottomed triangle with decent support at 118.50 and sloping resistance coming in around the 125 level. Too narrow a range not to break soon. A break of this Brent resistance should hopefully be the catalyst for PMO chart to bust the triangle. Saudis cut production by 200kbd. Controlling this range nicely, to fit the charts ;).

Be careful what you wish for......he will answer it I’m sure But if you look at the cable action from April and the pmo chart they are mirror images. Suppose bit like BP chart as well. Just not my area of expertise on how much of the debt is in dollars and how much the treasury has locked in.