A thread created for the TA of charts on the LSE markets. (aim and plus included)
Beginners and advanced wellcome. Long or short, just post your views and lets
have some positive discussion. FIRE AWAY.

NB, UK indicies and sector charts plus FX can also to be included in posters analysis.

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DAILY MORNING CHARLES STANLEY Traders Bulletin

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RESOURCES

http://blog.tradersdaytrading.com/

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http://bigcharts.marketwatch.com/http://www.stockmarket-coach.com/index.html

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http://www.babypips.com/school


CHART SCREENERS

http://www.iii.co.uk/spreadbetting/type=technical

http://www.barchart.com

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http://www.britishbulls.com/

Ok will do ,cheers Shortie .

I held DRX a couple of years back

Have a look at this site also Jimmy...

http://www.energy-uk.org.uk/publication/124-research-and-reports/4921-electricitywholesalemarketreportnovember2014-pdf.html

well called cynic even if you are such an arsehole and didn't make the dosh you should have done

Will do Shortie .

Imagine talking about cynic like that !!

thought it about time i had a pat on the back :-)

i think there may well be a chance to make some money on long dow this afternoon, but i shall hold fire for now

Yep well done Cyners.........why what have you done?........sorry, did you mean the indicies 3 stop orders??? if so very well done, and yep think the DOW will turn positive later in the DOW session.

Jimmy sorry mate just been to get the xmas plonk heres that article opened but remember Shorties wisdom.

Tullow Oil shares offer plenty of long term upside
By Gary Newman | Thursday 11 December 2014


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Some of you will think that I’ve taken leave of my senses to even be looking at anything in the oil sector at the moment.

But then the same could be said in early 2009 with anyone considering investing in banking, financial or mining stocks, and they certainly didn’t do too badly when they recovered and yielded some of the biggest returns we’ve seen on FTSE100 and 250 companies in a long time.

Although there currently seems to be no bottom in sight for oil – I had some support penciled in around $64, which was hit today – it would seem that most of the bad news is now out of the way.

Especially following today’s announcement by OPEC that it expects demand for 2015 to be even lower than previously forecast and the fact that these low prices will have to have an effect on the US producers sometime soon (applications for new licences are down already).

Taking all that into account, and the fact that oil is needed for so many things, it is hard to see how it can remain at these levels for any length of time.

So I’m happy to look at some of the producers that have had large amounts wiped off of their market cap in recent months, and see them as good recovery plays even if there is more pain still to come in the shorter term.

Tullow Oil (TLW) would definitely fit the bill and would have to be near the top of anyone’s list, having had over £4 billion wiped off of its value since the summer, and has hit a low point around 380p this week.

The company had seen rapid growth over the last decade and now operates in 22 countries, with average net production during the first half of 2014 at 78,400boepd, and with projects in place to further increase that into 2015 and beyond.

Uganda has played a big part in its success so far and looks likely to carry on doing so, but the Jubilee field in Ghana and its TEN project there will also have a significant effect on production growth – production from West Africa alone is expected to top 100kboepd by 2017.

It also has numerous other projects at the exploration or appraisal stages, but in light of current oil prices it will be focusing its investment – expected to be $2 billion in 2015 - on production and development assets, and utilising the 1.4 billion barrels of reserves (369mmboe) and resources it had at the end of June 2014. What is spent on exploration will mainly be in East Africa and is expected to be in the region of $300 million.

Tullow has also hedged some of its future production, and at the end of October had 33,500bopd hedged at $90.23, with further hedges at around the $90 mark going into 2017. It also has 4.98mmscfd of gas hedged for 2015 at 4.98p/therm.

Like many producers at a similar stage net debt is quite high, and is expected to be $3.2 billion by the end of this year, but it still has $2.3 billion of free cash and available from its debt facility.

Tullow has been paying a dividend – albeit just 4p/share for H1 2014 – even though operating profit has dropped significantly, largely down to the amount that has been spent on exploration.

So although it is easy to see why the falling oil price has had such a big impact, both on today’s share price and the company’s future plans, it is reacting to that by keeping spending under control without damaging its growth.

For me it is a buy, just don’t be surprised to see it fall lower though in the short term before recovering.

merely that i thought the markets were heavily o'bought and that a christmas rally was far from a certainty ..... and cited reasons for same

Right we'l see then.

In think its just overleveraged positions getting shot before the new year and everyone blaming the Oil Price and everything else they can think of as an excuse.

Next week should bring transparency.

wrong thread.

Wisdom, there's a new one for me!! I reckon I got to be one of the youngest posting on MAM

wrong thread.

wrong thread.

wrong thread.

LOL! You really are scraping the bottle of the barrel now gf, who compiled that nonsense 'The Beano' ?

No Chris.........GET THIS.......YOUGOV the Tory mouth piece LOL LOL LOL LOL LOL LO LOL

Was thinking I was posting on the TALK thread, Cynics fault.

YOUGOV LOL! I rest my case!

How do you mean Chris its your lots official MOUTH PIECE.