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Sorry Yes Thursday
Refinancing, i would be surprised and disappointed if TD announced full details regarding this in the half year update - should be separate IMO - i think he will continue to kick the can down the road on that front.
As those been here long enough will know, this is a very 'leaky' ship when it comes to news. As such, around luncht time and beyond we usually see price action positively or negatively against the daily trend, thus determining the likely outcome of the results tomorrow. Lets see what SP action looks like later
THoughts ?
Not over sold Funky - only on RSI but this has further to go -
I reiterate Tony needs to urgently get his finger out to allow the refinance to be priced in -
AND Kraken - i have been totally transparent - my target is to make money and i have been clear many many times (even though i dont have to tell you s***) that i wont hold this long at all at this time - so the other day i saw a rise and bought in and then saw data that changed my mind and didnt get the jump i wanted so sold for a meagre profit.
Then i shorted BP & ENQ - wish i had shorted PMO but frankly with the debt burden and the spectrre of Tony adding more debt at this time in a sinking economy where demand for the key product is sinking (as evidenced by EIA themselves) then what do you expect -
why do you get so angry and bitter - you heard enouhg people on here tell you what i am telling you about PMO - wrong leader for wrong company and with TD this wont go anywhere.
Kraken - grow up sunshine !
If you read the markets correctly they are on a kife edge and due a major major corection any time now -
China data this morning dissapointed and showed they were not recovering / growing as expected so market is nervous obviously as now yoru looking at a bloated stock market with seriously high over inflated vlauations looking at the fundamentals and suddently realising its way out of kilt - it will correct and big IMO and thats is also why i fel Tony has done what he has done at totally the wrong time - if he is not careful he could sink PMO this time around IMO
but can see 20's coming . . . in coming days and weeks.
Tony, you really need to get your ass in gear and get this finance sorted otherwise you risk strangling PMO and putting it at huge risk IMO. Trump will do everything he can to keep the markets goign before his election in November but he is going to damn well struggle as markets are topping out based upon what fundamentals ?
This is what i worry about - deman dropping and already reserves brimming and pumping hard
https://www.cnbc.com/2020/08/13/oil-and-coronavirus-iea-sees-lower-demand-in-2020-2021-on-stalling-mobility.html
I see someone has closed some shorts reducing the overall position but ARCM still maintained position. I guess some reduction is a good thing
I sold out yesterday 100% BTW - its all looking very shakey to me but GLA still holding
Dont like the way the markets are looking today Kraken - got a bad feeling about this. Gold selling off was not a good sign.
Thats right SK - this is a trader only IMO until finance/TD out of the equation
Until Tony gets his finger out and sorts this finance, PMO will once again sit and be used as a rag-doll. He is such a damn clown, holds back PMO from its true potential. Look how his silence is penalising us today for example. RDSA, BP, ENI etc all up about 4-5%. Even GENL up 4.75% and we are being held down / back by the shorts and TD's lack lustre apporach to his shareholders return of investment -
Start the new era post-covid with a proper / real CEO please - come on BOD, shake things up a but eh
Kraken - i share your enthusiasm and so so wish ahd hope it will bounce back as you suggest but i dont think so - i really dont think so, peoples spending power and ability has been crippled. Yes supply / demand drives economies but there is no foundations to the recovery.
Just take a look at how many companies cut dividends, the PE ratios and then tell me you are 100% all in invested? By the way, did you sell in 50's and by back in 30's?
I am not critisiscing you, everyone is of course of a different opinion, i just dont share your v recovery your talking about but see a longer slower gradual return of investment and economies, with many many more coprorates falling fowl of the siuation. A possible financial crisi to follow this virus driven downturn - gloomy i am sorry but its jus the way i see it
Yep SK, its simple human nature, we get bored of being told what to do and being 'caged'. Regardless, the economic fallout has only just started and there will be a great deal more s*** to hit the fan. Corporate results are nothing better than dissatrous, pretty much across the board! GDP of many/most countries is reporting double digit drops, what is there positive about that -
I am in at 36.15 with 50K -
Still medium term, i feel this will go lower espectially when Tony gets his finger out on the refinance - but regardless i see a short term commodities rally after tech rally, and then i see a broad market sell off - all IMO
Hope everyone making money and everyone sold on the way down from 50's -
Lets see, i still think it will head lower on medium term but good price for a day or few days trade -
SK / Kilgeever / Alpha - anyone else in?
As techy's take a breather and investors note they are massively over bought, their attention turns elsewhere - is it the time for oilies ?
I think its the uncertainty and continual silence from Tony that is a major contributing factor. The market is well aware that Tony seriously screwed up the last refinancing so i guess the pressure is on him and all eyes on him now to get it right this time - i just hope he realises that.
This aint gonna much help oilies performance in days to come
https://www.cnbc.com/2020/08/04/bp-reports-6point7-billion-second-quarter-loss-after-major-write-downs-cuts-dividend.html
The forward guidance from BP is concerning but expected. PMO wont escape the pain either IMO
Indeed Alfa - those warrants were and still are the bain of our investments here - they still manpulate this share - increadible really !
Take a look at the steepness of this rise over past week or so - and take a look at this chart - ALL TIME HIGH (since 80's at least)
An indication of things to come, cash pouring out of equities and treasuries, into Gold safe haven !
https://www.cnbc.com/quotes/?symbol=@GC.1
Dollar /Yen also
GLA