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Shell look to be approaching a number of SP targets in the lead up to the 2nd Quarter results announcement on the 1st August 2024. Shell is very close to the previously broached £29, nearing the top of its 52-week trading range 2,251.00 / 2,961.00 (Source: London Stock Exchange), and the elusive £30 barrier.
With news such as: Shell has paused construction at one of its biggest energy transition projects, a huge plant in Rotterdam that was intended to convert waste into jet fuel and biodiesel, Sawan is showing repeatedly how ruthless his approach to addressing market conditions & cost cutting can be. For now the best that competitors such as BP can hope to do is at some point copy and imitate Shell.
End of the 2nd Quarter, with Brent at a reasonable level throughout, streamlining & focus on oil & gas, divestment of what are strategically viewed as superfluous low earning renewables, significant cost cutting taking place, together with indications that domicile in the US is being actively considered. Driving season in the US, a possible escalation of the Israeli confrontation with Hezbollah & other geopolitical tensions. The SP appears to have quite significant momentum at the moment, so hopefully this will continue through the 2nd Quarter results announcement on Thursday the 1st August 2024.
He's probably not even a man in his own household.
Why would Labour want to get gas and oil out of the North Sea area when they can pay their communist friends in Russia and China to supply all our energy and goods...Is President Xi and Putin Labour Party members? Maybe just keep on buying Energy from the Saudi's and Gulf States as they also have really good human rights records like China and Russia. And there was me thinking SIR Kier was a man of the ordinary people? JMO
Pay day Monday 24/06/24, 26.94p per share dividend.
Middle East tensions seem to be on the rise again.
“3 UK oil stocks to invest in as Middle East tensions rise”
The year 2024 has faced many headwinds so far – but arguably the most devastating has been the ongoing conflict in the Middle East.
With far-reaching implications, some of the markets most impacted are global oil prices.
The top three UK oil companies to invest in as Middle East tensions rise
Shell (LON:RDSa)
Harbour Energy (LON:HBR)
BP (LON:BP)
https://uk.investing.com/news/stock-market-news/3-uk-oil-stocks-to-invest-in-as-middle-east-tensions-rise-3441443
Just been watching Total SP again around 3% this week, but has just about lost it badly down 4% since Wed compared to both SHEL & BP after oil lost direction and FEDS not giving away much on interest rates.
Bloomberg states that there is OPEC+ outline agreement on another 2m bpd of cuts
But, it looks likes an additional 2m bpd has been agreed:
https://www.reuters.com/business/energy/opec-seen-prolonging-cuts-2024-into-2025-two-sources-say-2024-06-02/#:~:text=LONDON%2FDUBAI%2C%20June%202%20(,and%20rising%20rival%20U.S.%20production.
Reuters views on OPEC + meeting today, partially held over the Internet, but also with OPEC + members invited to a meeting in Saudi.
The importance of US production is emphasised, bearing in mind that a maximised production level of around 13m bpd is around 12-13% of World demand & has a significant impact on both supply and price. Does the US want low gas prices with an election looming - yes, it certainly does!
https://oilprice.com/Energy/Gas-Prices/US-Gasoline-Prices-Continue-to-Drop.html
Getafgrip, great news they're exiting NS, maybe Starmer will realise he needs to be nicer to the UK's friendly Oil and Gas cos, just maybe ?!!
Shell plots job cuts in offshore wind division .The oil giant is continuing to shift from green energy
Shell is preparing to axe staff in its offshore wind business, as chief executive Wael Sawan pursues a move away from renewables. Cost increases have affected the entire offshore wind industry.
Shell are expected to begin cuts “within months” and will affect staff in Europe, according to Bloomberg.
Last summer, the chief executive set out plans to slash “structural costs” by as much as $3bn by the end of 2025 - partly by reducing exposure to renewables projects
https://www.telegraph.co.uk/business/2024/05/28/shell-plots-job-cuts-in-offshore-wind-division/
MrP - unfortunately it looks like he is not joking - the same litany of drivel is cut and pasted across multiple threads. The confusion of his VIX readings analysis, indicates his tenuous grasp of the subject!
When he ventures out into very basic economics theories and views, he gets even more confused:
"Lowering interest rates is only going to do one thing, it’s going raise inflation numbers duh."
Reminiscent of a scalar in a sense - in that he has force but no direction!
Throughout the past 10yrs, low VIX readings have preceded stock weakness resulting in shocks to stockmarket movements, and high VIX readings have preceded stock strength.
Are you joking?
Labour Government set to shut North Sea O&G industry down, isn't that their manifesto commitment?
Perhaps Bye! Bye to another political commitment to the UK Government as part of the agreement to domicile here from January 2023:
https://www.telegraph.co.uk/business/2024/05/29/shell-exxon-sell-390m-gas-fields-north-sea-exit/
I’d disagree with your preposterous comment on whether you should sell your SHEL shares.
Firstly, look at the VIX today, it’s showing a true lack of complacency in investors thinking everything is great.
You should follow this VIX trading theory;
When the VIX is low ( NOW ) time to go;
when the VIX is high, it’s time to buy.
Throughout the past 10yrs, low VIX readings have preceded stock weakness resulting in shocks to stockmarket movements, and high VIX readings have preceded stock strength.
I can see a mean pullback from these leve. When. In next couple of months.
I base this in interest rates NOT being lowered.
Lowering interest rates is only going to do one thing, it’s going raise inflation numbers duh.
Get ready to buy when you see the VIX reaching at least 19-20
Hi Ggp I agree your comments about the company and CEO and I believe the momentum is still upward at the moment and that’s why i’m still holding it. But that’s just my opinion and so I try not personalise it and remember the quote “Markets are never wrong – opinions often are” from Jesse Livermore and I just let the Stock price to confirm or contradict my opinion and because the Stock doesn’t know I own it let alone care.:-)
Larry,
Some great views, particularly on compounding. One of my favourites on whether to sell shares is would I buy them today. if the answer is an emphatic NO I know whether to sell them!
This time I was very edgy about having sold Shell - I just think there are so many positives for them at the moment. Cometh the hour cometh the man & for me Wael Sawan will prove to be one to follow!
Hi Ggp you are absolutely right “The shares do not know that We own them” and I would add “Let alone care”, I remember your quote last year to another poster because you captured my thoughts and phrased it well and so I try to remind myself to no personalise my choices in the Market.
Don’t worry we win some and lose some in life, like Frank Sinatra said “That’s Life” :-), tbh to me there’s no time right in real life as such so just I try to focus if i’m happy with Profit/Loss at the time, cos we only live in present and not in hindsight. You are a winner to me when you have a good and decent Profit on you money, the compounding effect is really important thing in finance. I’m still holding it here but when I bailout hopefully it will be with good Profit i’m happy with if i’m that lucky that’s and will not look back.
But with your sore feet I don’t envy there, put your feet up and have some rest and welcome back on this roller coster ride with Shell! :-)
Many thanks Larry. it's good to be back. I really like Shell & the shares have been very kind to me, so I have to bear in mind that the shares do not know that I own them! I parked some of the funds in RELX, but it was only a brief flirtation - still on my radar though.
I burnt the Shell dividend this time, but I'm nicely ahead even after taking account of this & after having gifted the Exchequer four-figures in stamp duty. Ouch!
Just back from walking the Eden Way in Cumbria, around 70-miles, taking a week out with a bunch of old school buddies! I think the pain from my, softer than I thought, feet was even worse than watching the SP go up further after I bailed out of Shell. Oh! Well it's always gratifying to know that I don't just confine my misjudgements to shares!-