Member Info for Stupmy

Maybe about to see oil price rise from here. ENQ looks to be benefitting from that expectation.

Once again, I find it fascinating that Jefferies have 23, Barc another figure and now JPM 42. Not obvious how so many experts can come so many disparate conclusions. It does make one question the value that experts add.

Fascinating stuff Modestus. Silly comments are irritating in this type of context such as 'Ammonia is a hydro-carbon', but that helped me to crystallised some thoughts and made me consider other ideas. Very nice.

Nothing all day and then some buying into the close. I view it as bullish. Volume very low so almost all volume is apparently buy side

It does make it seem somewhat 'non-transparent' when you put it like that Auson. When I suggested 'weighting for risk' being different, in a sense it was tongue in cheek as these type of grey areas give these people lots of room to say it the way they want/need to say it, without transgressing the boundaries of the financial market rules. I still think it's a very interesting area. I also still think that ENQ will do very well. I've continued buy (leveraged positions that I won't necessarily hold long term). I'm waiting to free up funds to double my share holding on this, fingers crossed in the very near future.

funny business. Barc 23p (validated by the fact the SP went to and beyond that), then Jefferies have a value 50% higher than that of barclays. I assume both have access to the same information, so I also assume the valuations represent the weighting that each report gives to risk. Very interesting. I hope Jefferies are more right than their target as Barclays were with theirs.

The new found excitement about owning ENQ shaes is not shared by BP or HTG (two I follow). Can't help thinking it's related to the change in government (Boris might not last into the Autumn). As others have discussed, maybe the market believes there will be changes to the WFT. It's a pretty out of the blue rise in our SP against a back drop of historically 'low' oil prices (I'm treating history here with contempt of course and thinking about the last 4-5 weeks from June 8th). Boris treated history with contempt, so maybe it's not such a good idea.

There we go, fingers crossed we now see a successful retest of 41 and then back to the upside in earnest.

The SP is now very close to a minor rising tl support first touch Oct 30 2020, 2nd touch Dec 20 2021 and about kiss for the 3rd time. Lagging indicators are all 'permissive' for new money to enter (I just mean 'oversold' in some peoples terms). If we were to close below that line (daily chart so daily close), we could find the SP looking for 19.25 / 16.75 and then the major rising TL support from our lows in March 2020. Althought those levels (13-14p) are not impossible, I find them unlikely, but the problem is I'm seduced by the back story so I'm not really impartial. What I would say is, that after breaking down from the 27p area, this is the first speculative buy zone that makes sense to me. But it's just that, speculative until there is evidence that the price is changing direction. And currently there isn't.

A close above 37.75 would set us up to challenge the previous high at 41. General markets look very dodgy though

Well, from a TA perspective it's interesting as the price is going against what you might normally expect from 'lagging indicators'. Short term the stochs are clearly bearish (2h chart), but price is on the up. That could well be due to Jassim's intervention. Could very well see continued buying from here. I guess it has to stir some interest. Thanks Ian for posting that.

In that case it's easy money for you Jtan and there should be no room to doubt that you've gone short. I do have to say that in my own experience, the more certain I am about a position, the more dangerous life becomes. The reason for that is that I actually buy and sell on the basis of my views, where I have a high level of conviction in my view then my positions are likely to be heavy. Are you short Jtan?

That's an additonal positive if other buyers are now active.

I've been assuming it's Numis on behalf of FOXT. What are the disclosure rules?

Platinum investments reduced to 9.6% from 10.9% of voting shares. Not sure why that would be associated with todays rise in SP. I assume, the announcement is delayed and relates to sales over the last week or two.
Still, very welcome to see the SP back on the front foot. Wondered idly whether the recent very active share repurchasing via Numis might indicate a wish to buy back stock quite quickly. Only a short step from there to wondering whether there is some good news on the horizon wrt the SP.

I think we've all been thinking that for along time oxygen. Sadly it's not gone to plan.

For the day trading, it's the only way I'm making money at the moment, Hubbing and holding is not working at all well (as you might expect in a falling stock market).

Looks likely that Numis are active in the Foxt market again today. Good volume and it's stopped the rot in the SP, at least for now.

I'd add that recently our higher lows are occuring at increasing distances fromt that rising TL support, suggesting that our overall SP movement from Mar 2020 to now is accelerating, albeit with continued substantial pullbacks. I think I'm trying to talk myself into believing that all is well. I still believe the back story. A big pull back would have me double my position I think unless we hear words along the lines of 'accountancy discrepancy' or some other scarey news. I don't think that's likely in this case though.

Thanks Auson, yeah I get your point about revenues being in dollars and the impact it has on the argument that FOREX changes might reflect our SP drop. As you said, wrong way round with a falling pound.
I still think that we have a date with 40p in the reasonably near future, but we're on the back foot for now. I have a 50% fib retracement (of the rise from March 2020 to the peak around 37 around may this year) at around 22p, then 61.8% line at around 19. You could argue there is some evidence that fib lines are being used to determine entries. Assuming that big money will look for a rational entry point somewhere those could be areas of interest. I hope so at least as I have a rising TL from our 7p or so low (Mar 2020) to 2nd touch 8.6p in Oct 2020 and if we were to get a 3rd touch (a large part of me hopes we don't) it would currently be around 13.5p (someone mentioned 14 earlier). There is a likely strong support around 15.7ish.

That's a good advantage BTF. Well done. And you thought you'd missed the boat!