Member Info for Stupmy

Personally Elitsky, I don't think the risk is massively higher. I think it will slow down debt repayment and possibly enhance OPEX (which one would hope would lead to increased production or reduced decline rate) and perhaps knock any potential dividend back. It looks likely to me that the market reaction (which is normal and predictable; markets don't like lack of clarity) will provide an opportunity to those in a position to take it. Could of course be completely wrong, but for the moment this looks like a very big reaction to a moderate complication. I've not sold a share and I am looking to add. I wish I'd sold the lot at 36-37 in hindsight, but I'm not overly concerned for the future of ENQ.

Whatever the real impact of the windfall tax, it's knocked confidence here for the moment and the SP has dropped back a lot. From a TA point of view, I would not now be surprised to see the SP drop to between 26.5 and 27.5 levels. Those are just previous levels that have been significant in the battle between buyers and sellers. There'll be a fair bit of money on the sidelines looking to enter and some of that will be working in similar way i.e. trying to 2nd guess where the drop will finish or in other words where will that money find best value. I've not added yet

funny, I had the same question a couple of months ago. Haven't regretted finding the filter tab for a second.

Well BTF called this very well so far. I have around about 30 as a potential support. A close below that today would not be an attractive thing for those who are long. If it does close below that, then 27.5 looks like a possible support. Depends on your feeling on this as an investment, but for me, it may soon represent a buying opportunity. That's a big drop from 37 to sub 30 and those who traded it well may have made good money. I'll wait for it to settle out, and depending upon what funds I have available, look to double my exposure.
KO that's more like it, you've once again gone from stable/focussed and all over your game, to cracking up, doom and gloom it's all finished. Find some middle ground somewhere for goodness sake.

That's extreme KO, but it's put debt repayment back a bit. I guess it does knock the investment case and it does make us more dependent on sustained high POO. BTF got it right, down we go. Now for us to decide is this an opportunity to add or not!

Swings and roundabouts Spin. I agree with your wifes positioning, but I'm not sure that stocks are finished for the moment. There is always the short position to consider also if you're sure that stocks have no further upside.

BTF I would not be surprised now if you get your 30-32. My view of the TA is that we might move to a bearish (corrective) position, although I don't have that confirmed (by TAC-DMI which holds some interest to me). Maybe the price drops to the levels you're looking for, maybe the sell-cycle resolves without any really SP drop. I don't have the answer but see your view as entirely possible. My guess is that the next buy signal, will be exactly that a signal to buy. Our position from a structural point of view is really good. Almost 5 mths of 100 dollar plus oil prices. Many of us (possibly wrongly) believed in this company a year ago and 2 years ago. We have not moved to a less positive place.

There was a fair bit of disrespect there to be fair, but the only thing you need to do here or in any other market is to make money. If you do that, what you're thinking, posting etc is fine. If you're not doing that, you could probably sit back and think a bit to get it right next time.

Jotelier, if you're right and we do get a bounce once the market has 'shaken' out loose hands, then 241 looks possible from a TA/chart perspective.

Beetrootjuice, that's pretty well the very same way I rationalised it. Upside seems quite likely (downside is possible, but less likely). I'll manage my entries, getting shot of bad ones against lower entries that are in profit, until overall the position is looking sensible. That was expensive pop for me last night with a 3 or 4p drop today. Looks to be holding it's previous low, let's hope it rallies to the upside.

As you say, it's not set the SP on fire. Mix of 'anguishing and languishing for the moment. It does seem that they have a direction and are effecting a plan.

Seems to make sense to extend their London footprint

boysaka, really in Lake Garda? Sirmione? Cool, what a beautiful place to drink coffee. I shall take a look.

It makes no sense at all to rush things, but this evening, it seems to make sense Chumba! Hope the market closes before my next glass!

I added. In my defence, I am also on the pop.

Heading for a 'high' close, that means drawing into end of business, buyers have it. That is often a good sign for the next day. I have no formal buy signal still and will wait to add until I see how tomorrow unfolds

We'll find out soon enough. If I ever do get a confirmation of a buy signal, I'll add again, but for the foreseeable future, I'll rationalise the winners vs the losers to keep control of my positions. It's best not to accumulate too much in times of uncertainty (that's always) and never sit on ****.

b gg r it, I've added at 187 or so

Is it time to add, I've entered more than once from just over 200 down. Not nailed a turn yet, but then again not actually had a confirmed buy signal either so very speculative. I feel (as on my last entries) that the buy signal is going to come very soon. I think I'll wait until it arrives this time, however having said that I'm struggling not buy more.

The other side of that KO is that we're much better placed than for a number of previous substantial rises, it could happen any time. Assuming the the SP reasonably reflects our current position (i.e. the fact we're a lot better off than for previous rises), then we shouldn't fall back the way we previously did. In fact, we could get another substantial rise that subsequently subsides, as we have done in the past. I just find it interesting that despite having reduced debt and having such a high fcf, our SP is not that much higher than it was in Feb 2020 (more than 2 years ago at a time things were looking a lot more dodgy).