What a chart, further to go, or not
Comments please

the "sophisticated" chart that i have in my sticky fingers indicates that if sp can now break upwards from exactly this level, then next serious resistance is about 1365.

as TLW have gone exceedingly quiet, have switched from there to here, though will keep TLW on watch, especially if it looks likley to break back up through 400

PMO has been very dull in recent months, but there has been a sudden surge in sp, though "trades" show nothing significant ..... chart below is still nothing to write home about, but just perhaps PMO has at last got some good news imminent

sudden and serious surge today but no published news ...... could be many reasons, but from a chart point of view, 200 dma resistance swiftly approaching

very curious indeed ..... sp rockets by about 1.00 but volume is quite light (could be more demand still hidden i guess) and no rns ..... in comparison, TLW has scarcely moved

Evolution say "investors are better off taking profits (in Cairn) and switching into stocks with greater upside potential such as Tullow Oil PLC and Premier Oil PLC."

crap recent performance, but a bounce off 200 dma at about 1130 could easily be on the cards

and by golly PMO have roofed it today!

there's a 1 year chart on post 38 ..... meanwhile, Sunday Times back page biz has a very bullish write-up on PMO .... well worth the read as it highlights an apparently imminent RNS re doubling of gas production and realisation of unbookd reserves and also that core NAV is reckoned by some to be as high as 16.20.

if some of this rubs off onto sp, then 25 dma could be breached with some impetus with just 12.00/12.50 thereafter being potential resistance points.

Premier Oil bucks the trend on rumours of a bid from Hungary's Mol .... from today's FT

yesterday, Credit Suisse or similar downgraded PMO to neutral and sp dipped a bit to hit 25 dma ..... this morning sp rockets away, though otherv oils are strong too ..... Q is whether or not the FT t/o rumour has any foundation

From The Times this morning:

Talk of a bid helped Premier Oil, the explorer with assets in the North Sea, Africa and South-East Asia, to add nearly 7 per cent at one stage yesterday. The rumour is of a bid in the region of 15 a share, valuing the group at 1.23 billion. Mol, the Hungarian oil producer, is seen as the potential predator, but others cited in the past include Santos, of Australia, Eni, of Italy, Shell, Dubai Energy and ONGC-Mittal.

Premier, which closed up 53p at 12.35, was also helped by Phil Corbett, of ABN Amro, who set a 14.85 price target and said that Premier was his top pick of the oil stocks, with potentially exciting drill results in Vietnam.

Although oil prices fell, Mr Corbett pointed out that prices for delivery of oil in about five years time are more than $86 a barrel.

http://business.timesonline.co.uk/tol/business/markets/article2957711.ece

The bid rumour is also apparently in the Telegraph today (according to Moneyam Press Roundup). So there must be something to this - possibly due a statement re 'press speculation' soon?

sp just breached 1300p! It's racing away suddenly.

Cynic, I'm sure you'll have a lot of catching up to do, having been out all day, but have a look at the PMO intraday chart for today - an awesome climb at midday (just as SLN was falling off another!). I was expecting some news to filter through p.m. but it settled down again.

bought more a couple of days back as well as IEC ..... am now significantly o'weight in both

IEC did well today, too - good move! Wish I'd bought some - but can't be everywhere at once...

having been totally scathing about IEC in the past, i still kept watching and eventually boughtmy initial stake at 902 on 6/9/07 and have traded it ever since

arguably (looks as if I) top-sliced prematurely yesterday, but always nice to put money in the bank!

next obvious resistance = 1355/1360 being the all time high ...... always assuming the long mooted bid does not materialise

See link I've put on the DNX thread - Times article of 14Oct re 'bid alert' for certain companies, incl PMO. Could be something brewing again?

From The Times 27Nov:

Premier soars on revived bid talk