Weir Share Discussion Threads

[apppp] 04/11/2008 14:47

Just bouncing after being well oversold.

[pinkkasti] 04/11/2008 14:41

anyone heard any gossip on this ?

[apppp] 04/11/2008 12:09

steady rise now back to 9 pound - heres hoping

[ohisay] 24/10/2008 07:27

New to this stock -I see it has relatively high gearing low cash .Is this why its being shorted:

[dasv] 23/10/2008 17:26

note the £2m director buy at £2 a share at WG. as well.

[steads] 23/10/2008 17:06

Ah sarcasm, the lowest form of wit but the highest form of intelligence

[allseeingeye] 23/10/2008 15:51

yep with projected profit for FY of around £170m and the advantage of strengthening dollar I can't see a floor for these either - nor can the director who bought £20k's worth last week. We must be looking at 50p short term.

[pugugly] 23/10/2008 13:32

I cannot see why this is standing up - Oil price falling Production being cut back in both oil and especially mining. Gearing up.

Anyone like to speculate on a bottom ??

[steads] 23/10/2008 12:56

theres a 2 to 1 buy / sell ratio at the moment so they are up to no good , the dark pools will start unloading soon , i know opinions are like you know what, but mine is support at 331 and a short term bounce to 465 before another sell off, i note the shorters are on this one even selling blocks at 340 - 342 so if they are expecting to cover at a profit its even worse than that ,lets hope their taking an average.

[dasv] 23/10/2008 12:54

It hasn't fallen way more than many oil producers. e.g. DGO, PMO, SBE.

[like2share] 23/10/2008 12:40

LOL i did say 'may be commencing...' hoping that 340p could be support

[money multipier] 23/10/2008 12:32

Agree fallen too far but which bounce is that? From 338 to 342? Lend us your rose tinted...

[like2share] 23/10/2008 12:28

even with the oil price less than half it's record high, WEIR has fallen greater than that, way oversold IMHO and looks like a bounce may be commencing...

[dasv] 23/10/2008 12:12

we are still in capitulation mode. it feels like the market still hasn't found a bottom. VIX is heading up once more although libor is dropping. I suspect the predicted cuts in production by Opec is being used as an excuse to slam down the oil service companies. In retrospect the claims by analysts that oil service companies were not as correlated to the oil price as oil producers seems ridiculous. If the oil price is high that means greater activity for oil service companies because that should mean that demand is high for oil implying expansion of infrastructure, more drilling, more production. Conversely if the oil price falls that means a pull-back in production, less activity, less drilling, less infrastructure expansion. Ho hum.

[apppp] 23/10/2008 12:00

mmmm that's what I thought - crazy market

[apppp] 23/10/2008 11:26

Bought some at £3.65 this am. Not looking such a good idea now. Surely this is the bottom?

[allseeingeye] 20/10/2008 15:34

I'm holding these and AMEC - similar tale of woe!
Wonder whether CDS forced sells have driven both these stocks down? In which case next 48hrs will be interesting. Commentator from FT holds WEIR in his SIPP - was saying in w-end edition he topped up at £5. Lets hope we get a bounce but short term just have to sit tight and ride things out.

[james t kirk] 20/10/2008 15:07

I added some more this morning under £4.00 which was a result. Oil price is ticking up and main markets looking better, so I'm hoping for a swift return to £5.00 plus.

[james t kirk] 20/10/2008 08:34

Well the share price is now on a p/e for this year of 5 times earnings which is incredibly cheap. Not sure if we have a distressed seller here, but I'd presume at some stage this will rally back above £6.00. With Dollar staying around these levels, it's very good for Weir as they stated in their interim report.

[steads] 17/10/2008 16:47

Thanks James will look at the outcome of the opec meeting with interest

[james t kirk] 17/10/2008 15:11

I would say it's puely a reflection on the oil price and the fact that company's will be investing less whilst the price is so low. Any movement up in oil price will probably see a sharp rise here.

[steads] 17/10/2008 15:07

Does anyone know why weir group are falling by large percentages day after day some 50% in the last 4 weeks alone , i realise their has been some forced selling to cover margin calls etc but the volumes seem fairly even , does anyone think weir are particular trouble , 800 to 375 is pricing in quite a drop in earnings.

[dasv] 30/9/2008 11:34

Great company, looks like a technical fall rather than one based on fundamentals. oil price has fallen off but I think the doomsayers on further falls on oil may be proved wrong as deep drilling and oil sands/shale projects have costs circa £75 a barrel. Also opec has declared committment to protecting $100 a barrel.

I hold PFC and WG. and these haven't been as punished as Weir. I remember buying Weir at 695 just before the SocGen blow-up. 600p is bargain territory but this market is like quicksand. (I do not hold WEIR currently).