Petrofac Share Discussion Threads

[tsmith2] 05/7/2017 12:49

Rinse and rise..

[whattheduce] 05/7/2017 12:45

I should trust my instinct more! I estimated a 15p back peddle from 470 to buy back in but ended up buying back in at 460. Then it slides down to, you guessed it.

So I'm looking for 470s, very sharp bounce back could be news in the RNS pipe line or one or two large trades clearing and then back down. my gut feeling says up to 470 today.But do I cash in before market close?

[luderitz] 05/7/2017 12:41

If it reaches 432 I will be highly chuffed, doubt it will somehow.

[lodgeview] 05/7/2017 12:23

I gave up trying to trade a while back. Sit back, relax and ride the waves.

[vk74] 05/7/2017 12:12

I hope so as I sold everything at 462 and looking to get back in at a lower price. My ideal would be 432

[ny boy] 05/7/2017 12:11

Small pull backs are healthy, technicals, indicate 444p area as a downsude target.

[lodgeview] 05/7/2017 12:09

Shares don't go up in a straight line. LOL

[bakunin] 05/7/2017 12:06

Looks like the first intraday downtrend, other than at US or UK open, for a while

[whattheduce] 05/7/2017 11:51

Bought back in a tad higher than I wanted, not quite a 15p drop and, ohh, still sliding a little more. However, as long as overall it is up 5%+ within 5 trading days then back peddles then up and so on, I'll keep surfing the waves and coining it in.

[bakunin] 05/7/2017 11:44

Sitting on the 15 min uptrend line.
If it doesn't hold, it'll probably be a new wave down.
Wave 4 of the rise from 350 would take it to no lower than 443
Wave 2 of a larger Wave 1 from 350 could see it drop to a Fib ratio between 420 and 390.
The fractals aren't matching up, so uncertainty.

[ny boy] 05/7/2017 11:17

Drifting lower after not enough fuel yet to get through 474p, doubt much lower than say 444p the old resistance.

I will buy more if we get to test close to 435p, otherwise sit patiently for a move higher.

[stoxx67] 05/7/2017 11:15

this is nothing unexpected, short term the stock is / was overbought.

its where it retraces to now, suspect the next leg up will be the catalyst to short covering.

as i have stated far too many times now, i am patient and will await £6 and reassess.

[ny boy] 05/7/2017 09:59

Lol

Boring, so went shopping elsewhere, GSK @ 1600p & PNN @ 809p

[luderitz] 05/7/2017 09:31

Always thought that occasional fence sitting was underrated...

[edmondj] 05/7/2017 09:29

AQR also added - seemingly cutely - just before the SFO bombshell. Wholly coincidental, of course.

[adejuk] 05/7/2017 09:25

a good pause for reflection.

[1gw] 05/7/2017 09:05

chrisgail - it's really only AQR who has been consistently adding.

Old Mutual went up to 0.80% on 26th June and then back down to 0.78% on 29th June.

WorldQuant appears to have been trading up and down, or perhaps just very undecided! It went from 0.97% to 1.02% on 20th June, then down to 0.97%, up to 1.01%, down to 0.99% and finally back up to 1.01% on 30th June.

CapeView went down from 0.80% to 0.72% on 26th June, but then back up to 0.83% on 27th.

And Blackrock made one move, increasing from 1.01% to 1.11% on 22nd June.

AQR on the other hand was at 3.15% on Friday 16th, up to 3.71% by Friday 23rd and up to 4.01% by Thursday 29th (may still have to declare for Friday 30th).

As per my earlier posts I hope AQR is close to its limit on shorting PFC, given how much bigger its PFC short is (as a % of shorted company) than all its other UK-declared shorts with the exception of Wood Group, which appears to be a special merger arbitrage position paired with its AMEC long.

[chrisgail] 05/7/2017 08:52

AQR, Old Mutual and WorldQuant adding to their short positions right up to the end of last week. 7.7% of stock sold short. This is going to be a very interesting battle, longs, or, shorts, only one side can be right. If the longs have got the recovery right trying to close 7.7% short positions will be very painful for them. I for one hope so.

[luderitz] 05/7/2017 08:34

SP seems a bit sleepy as well at the moment, still early days.

[ny boy] 05/7/2017 08:32

Well wake up everyone!

Some resistance around 474p, proving a little bit stubborn, not enough buying volumes to get through yet but if we do, then 506p target area could be on.

[robo175] 04/7/2017 16:59

Good info 1gw

[1gw] 04/7/2017 16:57

I hope toscafund sees this as a high conviction position. I would like to see them go through 10% and then if they do I think I would expect to see them continuing to add as they seem generally to favour relatively large positions in companies.

[sophia1982] 04/7/2017 16:22

1gw, excellent job. Thank you.

In a certain way, we have two high conviction positions: a short by AQR and a long by Tosca (which is London based).

[lodgeview] 04/7/2017 16:20

Buy the dips.

[luderitz] 04/7/2017 16:18

Here comes the dip?