> http://www.investegate.co.uk/Article.aspx?id=200804020701443743R
http://www.imperialenergy.com
http://www.investegate.co.uk/Article.aspx?id=200807040700042799Y




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img src="http://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=IEC&Size=700&Skin=BlackBlue&Type=2&Scale=0&Span=YEAR1&MA=&EMA=&OVER=&IND=&XCycle=&XFormat=&Layout=2Line;Default;Price;HisDate&SV=0">
cyril

Well that's a bad start...should have listened to myself !

don't you just love Goldman Sachs?

Euhh.. the saxophone player ?

haha! ..... downgraded IEC to SELL with target of 1050 ..... have yet to see full script

Right..! grrrr ! they are off my Christmas list !

As I think they are mistaken..could provide a wonderful top up opportunity later on sometime !

GS write .....

Cut Imperial Energy Corp PLC to 'sell' from 'neutral', while upping its price target to 1,050 pence from 910 pence, on valuation grounds.
The broker said it thinks at current levels the stock's valuation either does not take fully into account the capital expenditure requirements that would be needed to bring its reserves to production, or assumes overly aggressive production volumes based on available reserves data.

This means a little trip to Russia to see how far reserves are from pumping stations etc...of course turning reserves into production takes some doing but look at Afren, they are getting on with it and IEC are well established in Russia now and with the Oil price rocketing ...I think they will do well this year !

Adding to my previous post, I don't think the broker downgrade would have changed the drop this morning.. it's the same across the board today...we all need the good old USA to show a few signs of improvement !

If someone could post a chart here, that would be really helpful, with 50 & 200 DMA. I have had a look at the chart, but trying to make sense of any kind of trend is difficult, imo. 200 DMA support looks to be around 1300+ ?

Recovery starting to show...reminds me of last year's BUR downgrade by some analyst and we all know how much that went up by !

Not quite so sure about recovery, graph turning down and if the market doesn't turn around soon, i would be looking for support around 200dma

Jeepers Big Ted !, you're right...it's diving !

I have also seen another broker target of 1050, which is a bit worrying.
Also, 1050 doesn't look like much of a support level, so momentum could take it further.

I'll be interesting to see the how the SP holds, with the March S/bets due to close in the next couple of weeks and also the end of tax year usually which brings a spate of selling?
cyril

Any chance you could post a chart in your header please cyril? That would save having to post one on each page.

Harry teach me how and i will, or start a new thread.
cyril

cyril .... just go to edit as you would here ..... as it's your thread you can do it

?
cyril