On 3rd July PFC announced that it was trading well ahead of expectations. Not surprisingly, sp jumped but has now fallen back pretty much to the same level as before the announcement.

While perhaps not as exciting as finding the next Cairn, remember that in the goldrush days, it was rarely the prospectors who made the money, but rather the suppliers of the spades and tents and stuff - e.g. Levis if memory serves me aright.

Can't deny he was spot on though cynic, would have been a good trade. Give us a shout when you see see another set up joe :O)

absolutely so, though it would also be good to hear from MJ when he gets it all wrong as even the best do, including warren buffett!

No argument from me there cynic. I thought Fibonaci was Italian for telling lies, obviously not I'm just to busy or make that lazy to learn it :O)

fibonacci, elliott wave, bollinger bands, GANN et etc ..... they all have their adherents, and thus can often be self-fulfilling, aided of course by the market conditions then prevailing ..... if things were really that predictable, then there would not be this plague of financial advisers and the like, and of course the banks and investment and pension funds would have avoided most of their disasters of recent years.

And Mervyn King wouldn't be able to make so many speeches.

Continuing progress with this one http://www.moneyam.com/action/news/showArticle?id=4478493

PFC have tied up an agreement a "strategic alliance" with BLVN to develop BLVN's licence off Cameroon .... certainly good news for BLVN

StockMarketWire.com
Oil services firm Petrofac (LON:PFC) has won a further inspection, maintenance and repair contract for the Rumaila oil field in Southern Iraq with its joint venture partner, China Petroleum Engineering & Construction Corporation (CPECC). The $229 million contract was awarded by BP (LON:BP.), via the Rumaila Operating Organisation (ROO), following a competitive tender.

The three-year contract, which is worth more than US$160 million to Petrofac, will be led by its Offshore Projects & Operations (OPO) business. The contract covers the inspection, maintenance and repair of degassing stations, rotating machinery and cluster pumping stations and came into effect on 1 November 2012.

Marwan Chedid, Chief Executive of Petrofac's Engineering, Construction, Operations & Maintenance (ECOM) division, commented: "We are delighted to have been awarded a further contract for the Rumaila field. This award is testament to Petrofac's ability to deliver to a high standard in Iraq and builds on the success we have achieved over the past year in this field. Alongside our partner CPECC, we look forward to developing further our relationship with BP Iraq and the Rumaila Operating Organisation and helping to ensure a safe and successful future for this flagship field."

MJ may like this ..... sp is right at the top of bollinger band ..... does that mean pull back is imminent or merely that bollinger band will keep adjusting upwards as/when/if sp keeps ticking ahead?

H
e probably thinks you are taking the Pxxx cynic :O) looks a positive chart to me but wtfdik:O)

i don't think he will .... we have kissed and made up of late, and his chart interpretation is often interesting and even good sense, especially for short-term momentum trading

Great to hear, I agree with you :O)

Nice little earner or what? http://www.moneyam.com/action/news/showArticle?id=4497363

Out with a profit and Divi.

i THINK i'll just keep this as a core holding

I keep getting back in at this level and then it falls back so staying out for a bit now.

no doubt about it; it's having a lot of trouble busting this 1700 resistance

at long last 1700 barrier has been broken ..... now it remains to be seen whether or not that break can be sustained

"at long last 1700 barrier has been broken ..... now it remains to be seen whether or not that break can be sustained".. Answer? 7 days -):

http://uk.finance.yahoo.com/news/stocks-news-europe-saipem-profit-090025027.html And what "exactly" has that got to do with PFC?.. Over reaction or over reaction?

just a general sector wallop it would seem... all very logical!