Initial Buy I’ve dropped all of my PMO. Good profit, reason being that there will be a trading update tomorrow and I don’t want to hold for that. I retain ENQ.
Initial Buy Maybe real buying was reduced into year end. Perhaps the serious money was waiting for 2019 to take up positions. Prices are looking attractive for the moment and entries can be protected quite well with stops.
Initial Buy I have misjudged the effect of Saudi oil cuts by the looks of things so the opportunity to build in a position over time and hold for a run has possibly gone. Only if we see the likes of 164p again will I go back in, but next time on much bigger buy volumes. It is really hard to play the volatility in this sector and a lot of mis-information gets put out there. For the stock to rise 10% in two trading sessions is quite something. I still feel USA is pumping a lot more oil in the coming 3 months. Libya may eventually get its act together as well.
Initial Buy TLW looking much better this year, as is PMO (OPHR t/o talk also). I’m benefiting from PMO, from the low 60’s and have now doubled my ENQ position (this morning) to give an overall entry somewhere around 24-25. I’ll probably dump half at breakeven if I’m given the chance and buy back if there’s a subsequent dip. Bonne année tout le monde!
Tullow leaves gap in chart Clearly got it wrong at the bottom of the chart. Another one I will be out from in 2019 as a result. I was convinced oil was going down further with USA supply still increasing and global demand still waning. Marine data was giving no signal for oil to go back up. A lot of economic activity appears depressed for the next 60 days or so. Nevertheless Tullow and PMO have taken off. Tullow leaves behind that chart gap which may be there for a long time.
Tullow leaves gap in chart Tullow and other explorers are a bull trap is how I perceive it. Copper price is going lower and now on critical support lines, the banks stocks are declining and shippers from the marine cargo to FEDEX are showing that trade volumes internationally are absolutely tanking. The supply side is increasing state side and likely to do so for another 3 months and consumer uptake is actually declining despite price drop. Good time to be in cash. Q1 looks awful.
Tullow leaves gap in chart Took the rest off. If it continues the rally good luck to holders but if it returns on the downward path I will rejoin and only hold when I think its the real thing. Made a small profit. If you believe the low was yesterday and we bottomed than well done. Brent looks like it could drop further is my view. PMO and others also in the rally before any news. Tullow not oversold anymore on the shorter term charts.
Tullow leaves gap in chart Expecting it to get back filled either this afternoon or next week. Took some off without loss to rebuy on back fill.
Now 10% in With my pool average in the high 160’s, I have kept a lot in cash aside for Tullow. I am quite relaxed about this share dropping further back as it will mean I can afford to buy even more Tullow shares. My position is speculative buy as 2019 reveals its mysteries to on oil supply and usage. Its a relaxed skin in the game foot hold as the Tullow baby and everything on the equity market gets thrown out with the bath water.
Initial Buy Tullow now gaining from selling its hedged oil. Brent is now over 25 barrels of oil per ounce of gold and climbing. Looks like another lower price on Tullow stock from the 27th. The speed we are heading towards a bottom is incredible. A number of fracking wells now get less than $32 barrel. There is nothing being left for future generations on the oil front. The real intrinsic value of oil is being ignored. This story only ends one way in the end and that is sky high oil prices. Tony
Initial Buy Shotry It may well continue to fall regarding oil and gold may well break higher. Once gold goes above $1300 and WTI hits 38 we are at 34.2 barrels an ounce and if Brent is $46 we are at 28.2. These are historical extremes only achieved once before on historical plots. The current situation is rapidly heading that way. The historical average for Brent is around 12 and in recent years it was 15 today its 23.3. I now own enough Tullow to sell a little bit if we got a 15p bounce. My big buys will happen when those ratios get near extreme points and the longest time frame they can and will persist is just a month.
Initial Buy I don’t seen any evidence it’s stopped falling yet. I can’t help thinking that the money that really matters is now on holiday until the new year. Gold is still rising, but oil price is still falling, so the relationship between the two and dollar strength doesn’t seem to hold at the moment.
Initial Buy Yummy 166.07 buy was mine this morning. As this stock price drops back at the truck for me baby its accumulation time.
Uganda farm down tax The Uganda Minister is trying to charge CGT at nearly at a rate of 84.5%. The farm down involved $700M that is not a capital gain but to fund Tullow work in Uganda. Only $200M was a capital gain and the rate of tax is 30% minus allowed deductibles. The company predicted this kind of problem with the Uganda government. The upshot is another potential development delay which takes the whole project beyond 2021. It may well mean that debt reductions may be longer to achieve. Total and Tullow will have to argue it out with the Uganda government.
Initial Buy Second buy at 169p, yummy.