BP Live Discussion

J_Westlock 14 Sep 2019

Central bank collusion pt 2 Even if I agreed with that… which I don’t (not all)… what does it have to do with your first post which showed how some Governments don’t like what the central bank did… which it is able to do as an independent body?

SaraRacano 14 Sep 2019

Central bank collusion pt 2 If central banks are independent like you state, these are the ones that hold the real power they control politicans not vice versa. If John Bolton & Pompeo want wars with Iran & China, then they need Wall Street, onboard. Someone has to finance these wars. Central banks control governments not vice versa especially when you have trade & current account deficits. I think people fail to understand just how powerful executives on these central bank boards actually are. Governments being “coerced” is niether here nor there it is how “coerced” these central bankers are. This is the key point. These are unelected people who´s actions have taken the world economy to the point of collapse.

J_Westlock 14 Sep 2019

Central bank collusion pt 2 Again, your original post was about Governments not necessarily agreeing with actions by a Central Bank… not whether Central Banks are independent or not. Fact is that central banks are independent of short-term interference.

SaraRacano 14 Sep 2019

Central bank collusion pt 2 Are central banks independent? Probably not? The Fed is owned by private corporations such as Goldman Sachs so is the Fed acting independly? No! The Fed is a secret club. Are central banks colluding with each other? A) A very likely, yes. I would therfore state that central banks are not independent from government. They are two sides of the same coin. Just like remainers & Britexit. They are both exactly the same. It´s not about democracy.

J_Westlock 14 Sep 2019

Central bank collusion pt 2 Yes… but your original post was about Governments not necessarily agreeing with actions by a Central Bank… not Governments being coerced by the wealthy.

SaraRacano 14 Sep 2019

Central bank collusion pt 2 Who funds governments? Ever heard of the term political lobbyists & their payments to politicans (you may well call it a bribe)? How can we live in a democracy when all these politicans are being bought out by private companies & individuals? Who funds governments? A) Big financials! How independent in reality are governments from wealthy individuals & corporations. Just look at politicans who get booted out by the electorate. It´s no big deal they just go back to work for the lobbyists that were paying them. Do you think all those remainer MP´s & Britexit MP´s are actually acting for the common good? Australia too gave a damning verdict for more ECB, QE.

J_Westlock 14 Sep 2019

Central bank collusion pt 2 I thought Central Banks were independent of Governments by nature.

SaraRacano 14 Sep 2019

ECB, QE: Now the risks start to intensify, Don’t forget that the remarkable 10-day rise in government bond yields across the advanced world was extended in the last 24 hours in the context of the ECB’s “QE Infinity”. Just saying, don’t downplay the real risk of the reality/perception of central bank policy ineffectiveness. EEXDl0IWwAABnck.jpg418x679 31.6 KB EEXDl0IXUAIDJ4P.jpg425x679 32.7 KB

SaraRacano 14 Sep 2019

Central bank collusion pt 2 May have been “unprecedented dissent” but the end result was still the same. EEX1x84XsAE8OBT.jpg605x526 103 KB

tornadotony 12 Sep 2019

Chart gaps to note The chart gap below is 488.05 to 491.4 to be filled. The chart gap now created above is 509.8 to 512.1 also to be filled. If we are seeing a change in sentiment in the oil sector the lower gap could be filled first. That probability is still unclear. If it takes out the lower gap I would buy at 488p with the anticipation of a return to 512p. I suspect moves in the US dollar can affect what happens next as well. Tony Current no BP positions.

tornadotony 11 Sep 2019

Took Profits The risk of Iranian oil flooding the market has encouraged me to take profits. I wish holders well with BP.

tornadotony 09 Sep 2019

Bought in this morning Hi J No. On this occasion the move just happen to increase further away from 501-505p gap and the price went up higher over 508p. So I knew if I sold at 507.8p that I was quoted, that there was a good possibility in the future that the gap between 501p and 505p was going to be back filled as the market does not like leaving gaps in big FTSE companies like BP. The place where gaps exist all over the place in the charts is usually AIM shares that have precious little liquidity. As I hit the sell button it was with the intention to buy the shares back when they hit 500p or 501p or however close I could get to it. As the day progressed news dried up and the trade volume eased and the share price just edged down. Eventually it got to my target 501p and I bought it back. There is no guarantee that chart gaps are filled in the same day and under historical prices you can find gaps that have occurred in the past for any FTSE stock. Tiny gaps have to be ignored but a gap of 0.8% will usually get back filled. The market maker will sometimes spike a share price down for a few seconds to sometimes close a gap or they offer huge differences between a buy and sell to cover over a gap that was created. The opportunities to exploit the chance with gaps are not always given. I should also mention that if it opened much lower say at 493p and left a gap above in the chart and there was no market news or move in oil prices to provoke it and it suddenly dropped even lower to 490p, I would have bought shares in the high anticipation that it would eventually close the gap above to 501p and I would grab a profit that way by selling what I had bought earlier. [link] These guys often give oil analysis in the charts and you can a lot from them. Regards Tony

J_Westlock 09 Sep 2019

Bought in this morning tornadotony: So on Friday it closed at 501p and at the open this morning after just two minutes I sold at 507.8p as the open price was 505p as I saw a gap from Friday and the price went up further. You did well @tornadotony Just so I’ve got your strategy correct… Are you saying that when the opening price of BP is set higher than the previous trading day’s closing price (ie. the ‘gap’) that it will usually go up further in the first few minutes of trading… say by some 0.5%?

tornadotony 09 Sep 2019

Bought in this morning Sara Gaps nearly always close on BP charts unless there is a major RNS before market opening of a mega event either good or bad. So on Friday it closed at 501p and at the open this morning after just two minutes I sold at 507.8p as the open price was 505p as I saw a gap from Friday and the price went up further. There was a 90% chance of the share price going down to 501p which happened on the same day and so I got 4p net profit in my back pocket for just getting up in the morning seeing the opportunity and nabbing it. If you want to make money easy just keep an eye on decent chart gaps and close out a trade when the moves are in your favour. That info can be useful and I was generous enough to list the trade when I did it and why I was doing it. I also gave a reason for an entry point at 501p. Happy trading and realise some people say what they do is not showing off. Instead its being helpful to others brave enough to manage their own money and wanting to learn how to manage their positions and like working with charts. Regards Tony

SaraRacano 09 Sep 2019

Bought in this morning Thanks for that useless piece of info!