Is this a reasonable way to weigh up a company value, anyone else do this?
http://spandydotorg.files.wordpress.com/2011/03/caza_drilled_assets_dec2010_update1.pdf
http://spandy.org/
Caza sitting at bottom of the ocean at 25p now. hopefully no depth charges on way
BP done well today, far more bouyant. It did go to 450 (200dma)and has bounced now. i bought at 461 and ordered at 450, sold the 450 section off today now.
Reasons being, risk and I must take profits. Volume on the bounce wasnt massive, maybe not enough to overcome previous selling looks like but no definites.
Also the Eurodollar rate did well today and seing some topping in that also, which relates to oil price some
General thoughts are some rally in markets here but I expect it to waver. This is a holiday week and as such its subject to reversal, false moves much like happens every year at xmas. Volume is not good, dont take any price movements too seriously.
This affects big caps more then small caps I guess but still..
Gold at highest price ever recorded - 1500 (2200 inflation adjusted is top), POG dives anyway
Not sure about RRL. Looks dramatic but the air is thin at these heights, probably needs some time to adjust if still climbing, not sure
Volume was much higher on the fall but not too great. Overall
volume has been dropping since rising above 18 which is not so good