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+--- Thread: Perspective on Price Fluctuations (/showthread.php?tid=453)
- efi426hemi - 03-01-2012
Hello everyone,
One of the great things about being invested in other petroleum E&P stocks is that one can see very interesting similarities.
Case in point, GKP ran up to 460p in mid Feb and has since pulled back to as low as 325p and sits now at 355p. On the GKP message board there are the same cries of:
* - Bad news coming
* - Short manipulation
* - Baillie Gifford ownership dropped below 5% - what do they know that we don't.
* - yadda yadda yadda
Notice anything similar with IOC? Another great thing about being invested in another petro E&P is that you get to read great posts from other people that add some fantastic perspective.
Case in point StopThisMadness posted a couple of beauts a few days ago on GKP that applies here. He mentioned that the big traders using TA always profit take and then buy back in and they use this technique like on auto pilot. Since I don't want to steal his thunder, check out these two posts:
http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3AGKP.L&threshold=20&it=le&action=detail&id=9361784
http://www.iii.co.uk/investment/detail?code=cotn%3AGKP.L&display=discussion&action=detail&id=9346862
Additionally, another poster on GKP, MikeyAdmin has access to the Level 2 (L2) and can clearly see the Market Makers (MM) manipulate the price down/up or to maintain its current level presumably to meet the need of one of their large clients spending millions of dollars.
I have absolutely zero doubt that this is also going on with IOC. It is and always will be out of the control of the PI but it is important to understand as these institutions are ruthless, care nothing for the PI, and will do whatever it takes to buy in at the lowest levels or squeeze every penny out of the current situation.
So, when you see IOC go through one of its drops, keep the above two points in mind and it may help to keep a small part of your sanity.
Health and Happiness, PDYOR and fwiw,
efi
- Spartina - 03-01-2012
Thanks Efi, good stuff during a frustrating wait.
- Tusker - 03-02-2012
Think long term.
:-)
In the short term.
:-) (-:
Tusk