Re: Trimmed BB - Not smart just one of the less dumb moves I have made in the last two years. Not sharp enough to trade on 10-20p margins but I admire your umph to recover your losses that way. A rebuy at 370p was easy to decide, I also nibbled at 425 on the way down which looked less clever at times, not sure I am brave enough to rebuy at 450p - not yet at least - given the way PFC is flip flopping in reaction to an unstable oil market etc. If BRENT settled at $55 again then sure ...S - the idea of selling that chunk was to neutralise the effect of also reducing my long term holding at a loss. You know longs, the portfolio of shares where you see a progressive or sustained future and attractive yields over 10 or more years.The remaining chunk needs to break through 570p to wash its face, and then I will hold only if there is positive assurance about the future dividend stream.Otherwise PFC with the long term in mind - my retirement income - in my view was and is a Sell as soon as you can bear to take the losses of recent weeks, it is fundamentally too exciting and volatile for my purposes.
Re: Trimmed Smart move Marktime - well done. I'm trading this on the way up and would certainly have sold a tranche yesterday had I been watching the price (with the obvious intention of buying back). As it was, my limit 'sell' was set a bit higher to catch a spike so I missed that peak. But like busses there'll be another one along soon. Over 10p a share overnight not bad, although I'm looking for more like 20p gains over few days. trading, I'm about half way to recouping my overall losses on this one
Re: Trimmed Lol
Re: Trimmed Doesnt really make it a sell does it? Just because you have.At this level i rate this a hold.
Trimmed In early June I was brave enough to add a chunk at 370p, and to cash in I have trimmed off two chunks today at 475p to reduce my exposure. I was stupid enough to have some PFC in my long term ISA holding which never had any place being there. Happy to hold the remainder in case oil prices improve and with the more optimistic brokers pricing this at 500-700p.
Re: Short on Amec Closed at £4.38.10p down at £30ppOh well, that didn't work out quite as planned.I will take solace from the fact that it may indicate that PFC was perhaps overly harshly marked-down; albeit, recognising that the two situations are not the same.
Re: Goldman reiterates 565p target It doesn't always play out in their favour. The bulk of their short was placed in weights from 350p up to 470p. They chased it or tried to suppress the rise. So it's not necessarily 'profitable' but more about trying to keep a position in tact rather than running away from them.Odey did the same on Tullow from 100p all the way up to 300p and eventually capitulated in the 250p+ region losing millions. Had he stuck in there, he could have closed out nearer 150's and limited losses.Hindsight is a wonderful thing but 'time' is the killer. As they say they market can stay insane longer than you can stay liquid. And in Odey's case, he ran out of time.The question is - will AQR run out of time as PoO's rebalance nears, Diviend period approaches and a strong H2 (as communicated in recent update) kicks in along with sizable DEBT reductons etc etc.Some people will look at the wind direction and pi55 elsewhere. Others will look at their trousers/shoes and wonder why they are wet and smelly.Believe it or not, the algo black boxes get it wrong more often than people think.HUB
Re: Goldman reiterates 565p target Hi Hub: Re: AQR, BlackRock and CapeView Capital LLP ... when you are ready.. hand over those shares please.I'm assuming that the likes of AQR will hold onto the shares for as long as they can profitably play with them. The recent trading range must be fairly attractive: eg short at around 470 and repurchase at 435. It looks like easy money. The risk of it rapidly hiking upward doesn't seem too great whilst there's no positive news and PoO is around 7 month lows. We've already noticed that AQR seem to have excellent - quite prophetic - intelligence about news before it actually breaks.
Goldman reiterates 565p target 13 Jul 17 Petrofac Ltd Goldman Sachs Buy 440.50 - 565.00 ReiteratesNot surprising really. Considering PFC lost around 450p a share on SFO news, AMEC/wood Group lost just 20p a share or 5% lol!Some of that 'over reaction' needs to be put back in please.AQR, BlackRock and CapeView Capital LLP ... when you are ready.. hand over those shares please.Looks like Worldquant and Old Mutual have quit their shorts and done a runner.Who's next?HUB
Re: New SFO enquiry announcement Yep i quite agree i did not vote for that May needs to go shes to P$$$ weak and does more u turns than anyone else i have ever heard of.Not that i want that other clown Corbyn either
New SFO enquiry announcement The new SFO enquiry I would like to hear announced is the one into the open bribery of the DUP by Mrs May to the tune of £1Bn colateral benefits to NI in return for Westminster votes.That would hurry the SFO into non-existence bringing an abrupt conclusion to their ruinous probe into the alleged (victimless) crimes carried out by former PFC wheeler dealers.Backhanders to tin pot state officials have always been an integral part of doing business as reported by the Daily Slab when the Slate Rock and Gravel Company secured its first quarrying license from the municipal authority of Bedrock.
Re: SFO go after AMEC AMEC sp gets slapped by .......8%! Come on Mr Market.....It's very early days and there are, for now, lots of differences like:Has anyone at AMEC yet been questioned under caution, has SFO said that AMEC is not fully cooperating, has a director been suspended, have any NED's resigned, are a former VP's activities and associates under suspicion, is AMEC being affected by a plunge in oil prices, has AMEC handled the issue well?....Yep, PFC has rightly got a caning in the market. And so might AMEC....Regarding any inside info going to AQR - SFO would be the least painful source of leaks for investors, if any directors of the tainted companies were found to be the source....
Re: SFO go after AMEC The way that the market has responded to the Amec probe is making me feel much more comfortable with my PFC holding.
Re: SFO go after AMEC I agree, I was expecting a bigger drop.That said, few situations follow exactly the same path - so I'll keep my short running for at least a week to see what happens.
Re: SFO go after AMEC So there we have it...AMEC sp gets slapped by .......8%! Come on Mr Market. How can you slap Petrofac by over 40% or 55% at one point based on SFO investigations yet slap AMEC by 8% to 12%?I wonder ... does it have anything to do with the City being knee deep in the compan ahead of the merger/takeover wood group?Interestingly, AQR has been heavily shorting Wood Group which also got hit today due to AMEC SFO news.AQR Capital Management, LLCWOOD GROUP (JOHN) PLC4.60% Short2017-07-07Either sublime timing by AQR or perhaps someone at the SFO needs to begin looking at 'leaks' as looks pretty dodgy to me.Now that would be fun... the FCA looking into the SFO over possibe leaks on cases lol!All supposition, spurious nonsense and without prejudice of course!HUB