Trading the stockmarket (NO Referrals)

[silversurfer]

I was thinking of selling BP and buying back a bit of XEL. Nearer to 120 but here might be a point that holds, not quite sure. Its a fairly nasty sell off, I will scale in I guess

caza up 20% but its done it before

 

[jimjamuk]

Caza and Antrim used to be on my keep an eye on list but I'l be honest have taken my eye off the ball a bit with the likes of BLVN, XEL and GKP all moving. Hoping for RRL/RMP news this month and then I'll have a bit of a review of some of the other oilies

 

[silversurfer]

I'm in PCI, they seem to have a solid base in Algeria, just had $100m in from a sale there with more on the table so they appear well-sorted in terms of funding. Decent potential drills in Italy and of course they are involved in Kurdistan with Hess which could be very lucrative.

Bought a little bit of FOGL as well recently - plenty of drilling prospects, it seems unlikely that Argentina is going to take over the Falklands and there's the potential for quite a lot of oil there.

Recent podcast, FOGL riskier then RKH deepwater means 80 days to drill per year?
PCI I read is priced under asset value ? I dont know but SEA I bought at 27p as they pay 10p in div soon, the company received cash 50m and the market cap is 19m. Its never simple but market can be wrong.
I bought SL for 130p one time, 3bn in bank or aprox 130p per share. They did rise of course. SEA is not blue chip but same principle it must be

, they are coming up to a top I reckon. So a fallback like ex div might be healthy, hopefully it recovers then I would probably sell some

Stuck to my guns and sold 2/3 of my BP I can always rebuy if it falls back, Im unsure but Im holding a FTSE tracker still (BP is a large part)

Bought bit more of VGM, HOIL, CNR, ABG and XEL seems to have stablised?
They all cheap to me, CNR is weak but they issue shares for funding at 9p? Great deal so I buy at 6p seems ok and news continues to be good?

CNA I think is my next big buy. Blue chip, high yield, stable, growth prospects usa or just generally they cover every part of power. Plus the graph is good, they are not popular and price since AUG is pretty flat.
So far as I can tell they are breaking out of 2011 downtrend only just now, hoping to buy on weakness next week
Im a bit late but vs market they are cheap imo
Its a Questor tip

Because the authors can't make money trading.

The holy grail:

Weekend reading: Buffett’s new shareholder letter
by THE INVESTOR on FEBRUARY 25, 2012



Good reading from around the Web.

With apologies to the authors below, there is only one must-read this weekend, and that’s Warren Buffett’s annual letter to shareholders.

Unfortunately I can’t yet link to it directly. The letter goes live today, Saturday, at 8am EST, which is 2pm in the UK. That’s after the posting time of this article and its associated email.

And I’ll be at least a pint into the Six Nations rugby by then!

To grab the PDF for yourselves after 8am EST / 2pm GMT, head to the Berkshire Shareholder Letter archive. This year’s letter will be marked ’2011′.

You can expect to hear some reflections on Buffett’s latest thoughts here on Monevator, soon enough.

But if you can’t wait, here’s a few articles on Buffett from our archive.
http://monevator.com/2012/02/25/weekend-reading-buffetts-new-shareholder-letter/

Overall Gain – 1964-2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 513,055%

http://seekingalpha.com/article/376...eil-woodford-know-that-warren-buffett-doesn-t
http://www.moneyweek.com/news-and-c...rd-sell-tesco-but-stick-with-defensives-57616
http://www.fool.co.uk/news/investing/2012/02/17/tesco-woodford-vs-buffett.aspx

Motley Fool on 'scaling in' - http://www.fool.co.uk/news/investing/2012/02/27/catching-a-falling-knife-can-work.aspx

Other news in the sector included Fox Davies’ decision to raise its target price for Red Emperor Resources (LON:RMP) and the results of a 3D survey, which have led to significant upgrades to Lansdowne Oil & Gas’ (LON:LOGP) Amergin and Middleton prospects in the Celtic Sea.

Lansdowne also confirmed that it is opening a data room for prospective farm-in partners, which it hopes will lead to wells on the two prospects as well as third on Middleton, another highly prospective exploration block off the coast of Ireland.

The 3D seismic suggests total oil in place on a “P50 unrisked basis” (meaning it has 50 per cent certainty of being produced) of 472 million barrels, with a potential ultimate recoverable resource estimate of 151 million barrels.

Back to Red Emperor, Fox Davies said the earlier than expected start of drilling in Puntland has reduced execution risks, prompting the broker to raise its target price.

The note followed an operational report from Red Emperor and partner Range Resources (LON:RRL), which announced that the Shabeel-1 well was drilling ahead of schedule and was at 1,230 metres out of a planned depth of 3,800 metres.

The well, which is targeting in excess of 300 million recoverable barrels of oil, is expected to be completed next month with test results anticipated in the second quarter of the year.

The rig will then be mobilised to the drill site of the Shabeel North-1 well.

Red Emperor and Range each hold a 20 percent stake in the licenses that encompass the Dharoor and Nugaal valleys in Puntland, while Africa Oil holds a 45 percent interest through its shareholding in Horn Petroleum.


In the meantime, Xcite Energy (LON:XEL) released a surprise upgrade to the Bentley field oil reserves as it increased proved and probable reserves from 28 to 116 million barrels of oil.

These reserves are estimated to be worth US$1.46 billion, Xcite said.

"The upgrade to 116 million barrels of 2P reserves for the core Area on the Bentley Field is independent confirmation that Bentley is a major North Sea asset,” said chief executive Richard Smith.

“Furthermore, the Bentley Field is expected to contain significant upside potential from future appraisal of the non-core area prospects, as well as the application of enhanced oil recovery techniques.

“We now look forward to a successful delivery of Phase 1A on Bentley expected later this year."

 

[Morgoth]

It's been a fun week. After selling out of RRL with a small profit I reinvested into RMP on tuesday since Halifax was doing trades for under £4. Currently on another small profit (15%) but good long term potential, will hold.

Silversurfer what do you use to draw your cool graphs?

 

[Thomas. PLease.]

It's been a fun week. After selling out of RRL with a small profit I reinvested into RMP on tuesday since Halifax was doing trades for under £4. Currently on another small profit (15%) but good long term potential, will hold.

Silversurfer what do you use to draw your cool graphs?

Also been in RMP since wednesday with a small profit so far, looking good into the next few weeks.

 

[silversurfer]

RMP is more risky, Ive thought about it but apathy wins out


RRL is progressing regularly so far. Price to hold is 11, target 16 then 20

PMG spun up wildly recently, no good reason ! +20% on decuple normal volume, sold only some
HOIL is on flipside super negative, awful but they dont produce anything so market ignores their assets. 480m market cap 300m cash. A court case maybe brings even more etc

Silversurfer what do you use to draw your cool graphs?

I do the charts on spreadbet platforms normally but anywhere that has candlesticks is fine then even mspaint is fine to draw a trendline
Euro weekly Decline graph from 2007 to 2012
Try http://bigcharts.marketwatch.com advanced

ABG reversed right back down as gold falls. Kinda pointless as its still $200 above its average 2011 sale price, so its not even a negative. whatever

I sold all FTSE tracker, this market is spinning its wheels. Could take off either way I guess
Euro is down now as it hit big yearly trends, I will buy Investec emerging bonds on Monday as its safe but adventurous I hope.
I favour euro prospects over dollar as Germany is much stronger then USA, if market agrees this could mean further gains this year.

We are still near Japan earthquake price. Lots of possible value still to buy


I havent got CNA but I might still. That Halifax offer applied to foreign shares so I added some Telefonica.
Who bought O2 mobile from BT years back and are big in south America. They yield a genuine 10% because they are Spanish, a country in trouble for sure. 7 PE forecast and net debt 2.65x earnings

XEL hit the 3-4p range!! So anyone who timed it right could have made 100 x their money between 2008 and 2011. I told you it had an exciting history!

http://www.spandy.org/2012/03/04/xcite-energy-the-return-of-bentley/

 

[Oh Ed not again.]

What the hell happened at GKP?

I hope it's just my browser/work proxy failing when it says -83% today?!

 

[Skull]

Google always gets closing price wrong

 

[smokedog]

What the hell happened at GKP?

I hope it's just my browser/work proxy failing when it says -83% today?!

Don't worry, its just a glitch. It only fell by 23% today closing at 258p.

 

[Oh Ed not again.]

It says the same thing on Shareprice.co.uk - but I *think* they're Google fed (duh lol).

Edit - iPhone app says -23% 258.25 closing price, still not a good day!

 

[benwoodcock]

GKP. Ouch

 

[gord]

Generally a bad day, almost 2% down on the FTSE. Uncertainty rules!

 

[jmhduck]

Generally a bad day, almost 2% down on the FTSE. Uncertainty rules!

I opened a small spreadbet down (£1 per point) on BARC earlier today which is the only positive thing for me :S

 

[silversurfer]

I was thinking of doing that, but didnt I do have a general market short though, I havent closed it just bought into various stuff

I was wondering why nobody was commenting on GKP, I hope people took some profits out. It could be fine still, just looking for the substance of the move - http://online.wsj.com/article/BT-CO-20120306-708867.html

HOIL I hold instead was also battered ontop of being broken down anyway, only civil war could make it worse I think

Super cheap, check out KAZ at 6 PE Bought back XEL at 120 only to see it go to 110 though it recovered.
Market at best, to go sideways I think. I dont think its going to be terrible like last year though


Google just did a deal for realtime data btw. The price is actual trading data apparently. Hence -82% was a bad blip I guess

Anyone heard of Ophir Energy ? - LON:OPHR

Looks like its related to the whole recent west Africa thing
RRL held well recently


Heres a proper graph for today.
255p to hold its ground or 180p is a ledge on this cliff where I'd like to maybe take an interest again. I dont really expect it to do that but its easily possible if enough people rush for the exits - it creates value


low set at 3:10pm

 

[Skull]

I was thinking of doing that, but didnt I do have a general market short though, I havent closed it just bought into various stuff

I was wondering why nobody was commenting on GKP, I hope people took some profits out. It could be fine still, just looking for the substance of the move - http://online.wsj.com/article/BT-CO-20120306-708867.html

HOIL I hold instead was also battered ontop of being broken down anyway, only civil war could make it worse I think

Super cheap, check out KAZ at 6 PE Bought back XEL at 120 only to see it go to 110 though it recovered.
Market at best, to go sideways I think. I dont think its going to be terrible like last year though


Google just did a deal for realtime data btw. The price is the actual trading one intra-day. I guess 82 was a bad blip

Anyone heard of Ophir Energy ? - LON:OPHR

Looks like its related to the whole recent west Africa thing
RRL held well recently


Heres a proper graph. 255p to hold its ground or 180p is where I'd like to maybe take an interest again. I dont really expect it to do that but its easily possible if enough people rush for the exits - it creates value

I think the combination of rumblings of Exxon playing it safe and sticking with southern iraq in and an HSBC note saying GKP is worth only worth 280p (due to a 50% discount for political instability) created a perfect AIM environment for a bit of a shake out. I'll bet a huge number of stops got taken out, which led to panic selling in both recent spiked investors and longer-term holders who already had some profit, which took more stops out and so on.

It would have been great to sell at £4+ and get back in around now but that's hindsight - if you could call it every time you'd be a billionaire in a year!

A pretty bad day all round for AIM oilies, but Mr Market is especially exuberant on AIM - last week it was all green and nothing could go wrong, this week it's all red and the sky is falling in. Gotta stay as cool as a cucumber.

 

[silversurfer]

RMP up massive again today, I think its tripled in recent months from the low. West Africa as a hot spot is the reason I guess


I sold Kaz then it blipped up and I took it back, its too cheap not to have on any market rise.

CNE Cairn as its fallen on no iceland oil but they will still own 20% in India they are 70% cash with expertise. Maybe Lebanon offshore?

Bought Cairn for the same reason I thought earlier in the year, it has production, cash and its cheaper then it should be by far.

The negative is that its leaving the FTSE, lots of forced selling by the trackers and their drones. Real bad for the share but completely inert for the actual company. Im fine with buying as they could have success of some kind - Ive no idea what they are upto exactly but its fair to be optimistic ?
Its fallen back now so Im buying back what I have sold previously

GKP doing well enough it seems, a failed rise might make 180 possible

Condor Resources

Condor Resources (CNR) has completed a strategic review of its 100% owned La India Project in Nicaragua.

"The mining concept study concludes that the La India Project is, at a conceptual level, both technically feasible and economically viable," said the company, adding that the total mineral resources contained 1.62 million ounces (Moz) of gold in 8.94 million tonnes (Mt) grading 5.6 grams per tonne (g/t).

"La India Project is in many ways de-risked as we move to increase the total mineral resources to two Moz gold in 2012," said chairman Mark Child.

Looking ahead, the company is hoping to complete the exploration programme and scoping study at La India in 2012.

"The 12,000 to 15,000 metres drilling planned for this year will not only increase the resource but focus on increasing the size of a potential mill," Child stated, adding that the current objective was to prove sufficient resources to support production of 80,000 ounces to 100,000 ounces gold per annum.

 

[Morgoth]

RMP is my saving grace, todays RNS reports gas and hydrocarbons so still good upside.

 

[Morgoth]

Another kick ass day for RMP!

 

[piggeh]

Do you guys just buy oil companies?

I started an account with x-o, cannot seem to find any US companies on there. Is there a good value (for low value trades) share portal that covers most markets?

Might use Nationwide's one, they sent me through a form to complete to give access to US markets, I guess that is the usual way to go about things?

 

[Tephnos]

I was thinking of getting into playing the penny stock markets... what do you use as a broker? I heard e*trade was pretty good, but I have to go through a ton of hoops to open an account with them.