Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Unlikely to have any impact on the share price - news but not 'news news' if you like. Another company will come in for those interests while oil is still taking a battering. Regards Clair, with 36 planned they will be learning/optimising along the way - although, there are some game-changing LWD Resistivity tools available these days. One of the 'big' service companies has the market leading tool, it's rival has a similar if less impressive version and the smallest company of the bunch (which I believe happens to provide the LWD services on Clair) doesn't have anything comparable..
"If they fail, my loss but my core holdings are still OCADO/GAW so all’s well...rather than underwater with BP relentless plummet"
All well for now, until OCADO plummets from it's currently lofty heights when a Vaccine is announced. The market currently values Ocado at nearly half of BP, with Ocado year end expected EBITDA of "at least £40m" - mind boggling.
Not sure if this article has already been shared:
https://on.ft.com/2ZdfuGb
A nice read and SNG gets a mention :)
Partially regretting not buying back in this morning.. I sold out recently at a small loss as I'm convinced the markets in general will suffer when the proper Tech sell-off arrives. An interesting few days ahead - the pound weakening has helped provide today's slightly surprising rise, but she appears to be stabilising now. Could do with GBP losing a bit more to further help the FTSE stocks out. In the absence of any other impending factors (?), and with jittery US markets, is there much left in the tank for the days ahead.. coin toss for back to 250's or a test of the 270's.
"I understand that the situation with virus is still bad but overall still way better than in April"
Is it? With large parts of the globe still experiencing their first wave, and the virus far from 'under control', the situation is actually considerably worse than in April.
I think in this age of seemingly unlimited QE, with hordes of 'zombie' companies, a quantitative notion of 'value' is difficult to ascribe. The US market 'valuations', for example, are just nonsensical - Tesla with a larger market cap than Toyota?
It's all about following momentum and trading the gaps these days.
'Yesterday the 20DMA moved below the 50DMA for the first time since the massive SP rise that began in early April'
Rubbish - On the daily chart the EMA50 is not even close to dropping below the EMA200. Sounds like your charting is somewhat dodgy.
Bollinger bands starting to tighten on the 2hr chart - could tie in with some news soon. Good luck folks.
The Saudis run an economy on profits from an oil company - they might be able to produce oil cheaper than most, but this is irrelevant given the scale of their dependency on oil revenue. Public subsidies are historically massive, and tax unheard of - Until now. Civil unrest inevitably becomes rife as the realities of working with a huge deficit hit the public pocket. While they have access to further debt, the deficit can be managed - but how long will debt markets continue to prop an indulgent budget based on oil revenues? Have no doubt, the Saudi’s are in an increasingly precarious financial position.
Crystal ball material at present ultimately, especially with api/eia data on the horizon which can change the dynamics entirely. However, we have divergence on the RSI for Oil - this would normally suggest an end to the uptrend is nigh.
Interesting week or two ahead - Oil is slowly losing momentum after nearly 7 weeks of increasing prices. Indicators suggest a test of support could be on the cards - perhaps as low as $36 should further weak market data present itself. The $45-46 upper bound will be difficult to reach without a considerable kick up the a**e from somewhere.
I've bought a chunk above 320p, just incase, and will keep some powder dry should she make a break for the lower realms. Good luck folks.
Agree Baz - you make your call based on x,y,z and ultimately hope your guess is a decent one. To me, Looney's 'We are spending much, much more than we are making' comment is an implicit warning of the incoming divi cut (or even cancellation). It's hard to justify announcing 10k job losses, then going back to the debt market to maintain a Divi. Much more volatility ahead methinks.
As the manager of a drilling firm, would you expect him to say otherwise? Many such firms were on their knees before Corona and the price war. Operators have squeezed the service industry to the point where contracts are being agreed with firms barely breaking even. Semi-subs hoping for good weather to minimise diesel use, which would otherwise hit the already tiny margins.
Ultimately if the price increases any further then we will be living with large inventories for the forseeable, as some shale wells have already turned the taps back on and Opec compliance will further decrease.
The market tends to gain on expectation and then sell on news. The path of least resistance is to the upside at the moment, but then Brent hasn’t really stopped for breath recently.. Hence I think, from a trading perspective, this is a risky point to buy - with resistance at 360p and seemingly an opec meeting tomorrow, I’m taking a cautious approach as this could easily descend and test support at the ema200 around the 320p region.
Great stuff Arsenal, I'm also on the sidelines for now. Tricky one to call from here, although my gut says we'll get some more opportunities. This rally could end up similar to the last - oil rises into the the meeting date, then the selloff to test support. So we could see oil test $36-37 region again, or on the the flip side test $45. Either way, the Q2 results/divi cut will be horrific so that at least should bring another trading opportunity.
Yup, likely too many fighting for the shares in that area. Had an offer at 306.5, but let it go thinking it might dip below 306. Then couldn’t buy any until 307p+ by which point I’d decided against it, mainly due to being a tight git! GLA.