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have to take a pause soon and then commodities and oil will take centre stage
before big crash
before or after election - can Trump prop markets up another 2/3 months ? Its already very wobbly
Quite a bit of volume today as compared to peers.
I am seeing 1.85M shares traded so far today as compared with
325K for TLW or
532k for ENQ or
624k for RDSA or
6.8M for BP:)
Sk, you been a good friend here and would never tell you or anyone what to invest - your a smart cookie and know when to dabble - it depends how much lower you think this can / will go or whether its drifting along the bottom, which is where i think it is.
I got dry powder to keep buying if goes lower - well thats the strategy anyhow
. . . got a nice low average as lucky enough to be able to top up bigger amounts each time to bring it down - looking positive from here (i hope)
if drops more i will buy more, sat on quite a few now to say the least . . .
SK you back in yet ?TR61, probably be looking for a punt at these levesl also i guess or still gonna wait longer ?
Plenty of chunky buys going through, 136k, 67k, 260k same as yesterday - people are buying and from what i see there are more buys than sells significantly - this is being held down now
On dip this morning, now sat on quite a huge lump of stock here.
Considering all the significant news dropped over last few days (Fed speach, Hurricane, Inventory reports, Japan PM resigning) this is being held within this narrow band so me things that RI price will be at or slightly higher than where we are today
Yes Kraken, agree demand will return
BUT
the point i am making is i don't think we will see demand at the levels pre-covid for a very long time and possibly never again IMO. This virus ain't going away anytime soon, even with a vaccine its still gonna be 2 years or so IMO. Virus's mutate remember so effectiveness or possibly any proper vaccine might be 10 years off. Regardless, its not about the vaccine. The world has changed permanently, whether we like it or not. People's behaviours and attitudes have been impacted.
For example, the most technophobic out there who possibly said they would never shop online, have been forced to shop online and guess what, it wasn't that painful was it :) and so habits change. And i am talking not just about food but meals, pretty much anything. People have been forced to holiday locally and guess what, it was actually pretty nice and more importantly within budget.
Air travel globally will be severely changed because of many factors. IMO many carriers will go bust or reduce size significantly for a long time. The sheer hassles of checks and lengthening travel times and inconveniences, risks associated with packed aircrafts and virus transmission, as a whole will put off many. Low cost carriers IMO will become a thing of the past - they just wont get the volumes to make them viable IMO, those that are left will probably focus on quality rather than quantity and with downsizing, debt, economies of scale airfares will once again become expensive and a holiday to my home in the far east will not be a cheap quickie IMO.
Peoples pockets have been hurt and will get hurt a lot more in the years to come, spending power diminished through a longer for lower economic cycle with high unemployment and stay at home culture, killing the high street completely and pushing most things digital and online.
Businesses have been forced to adopt work from home policy and guess what, it wasn't that bad after all and we didnt need to micro-manage all our employees, they actually work diligently and more efficiently at home, not so many sickies, no hangovers from over partying every night the week and corporates suddenly realise they can become a whole lot more profitable by letting their expensive office lease go or significantly reduce.
Then there is peoples attitudes, whether we like it or not we (as a whole) think and try to be greener. Look at how much the likes of BP, RDSA etc are transitioning their traditional business into renewables - its significant (note for TOny - you should also be looking at this).
So with this and many many many other factors coming into play we, as a race, globally, are emerging into a new era, a different economic cycle where spending power for the majority is seriously diminished and the end result is global demand for the black stuff will IMO never get back to pre-covid levels and slowly slowly diminish to a level probably around 70-80% of those levels over a longer term.
All IMO of c
Good summary Goodmann.
I guess one main difference between now and then is the demand for product is waining and likely to drop off, plus the global economy is in freefall as opposed to strong growth -
keep coming through i see last 3 days - all same amount 357,433 each time
someone building a position maybe ?
Hurricane gonna make landfall as an even worse category 4 storm - surprised POO not bounced more, so this is a good indicator (maybe) that oil priced in weak demand already overall regardless of Hurricane
Now predicted to make landfall as a category 3 storm in Louisiana (refinery territory) -
Some nice buys on PMO coming through now - i am green :) come on baby, keep going . . . .
I hope so Rookie - i very hope so
Thanks Jono
I see you spent plenty of time in Ladbrokes :)
Just looking for the trade SK - want claw some back - lets see how the day unfolds (meanwhile time for an Asahi:)
Well someone needs to liven things up a bit around here :)
Jono, to be honest the whole market is just a big gamble - just PMO bigger than most - a few chunky buys coming through.
Come on baby, pay me back what you owe me !
I am looking for a bounce as US opens and news of Hurricane / Jackson Hole unfurls -
Mad i know but its fund trying to catch a falling knife:)
. . .even those who still sing his praises will surely not see that a change here is as good as a rest.
Markets should act positively, MM's wont risk and manipulate so much as they dont know how the new CEO will react and upset their money making games and it will be generally positive for PMO. Come on BOD, lets have a change of the guard please
that will solve 50% of the problem