I'm not a chartist in any classical sense (ie head and shoulders formations and the rest of it), but that doesn't mean I don't look at charts. I've said nothing inconsistent. I put up a chart comparing STO, BPT and DLS since the last oil price capitulation on 12 Dec 2014 and I simply observed that DLS was trading at 38% above its capitulation level, whilst STO and BPT were trading at 7% above their capitulation levels. Based on that chart I just made the observation that if the oil price were to fall further the gap between DLS and STO/BPT would close and that is exactly what it has done today. Really no surprise to me.
By the way since the price fell below my re-entry price of 91cents I am now starting a process of downward accumulation so have joined the ranks of holder again. We are back on the same team again now, although I'll be happy if the share price falls even further.
The "Stokes premium" is now fully eroded and I'm happy to thank him for buying my shares on the way up. I'm pretty sure BL will also be happy having cashed out to Stokes at $1.19.
Do ex-directors have to announce if they buy back in, I doubt it. I'm sure BL would know what a buy looks like.
HC is a great resource not just for information, but I also like it because you can get a good gauge on other investor's sentiment. I like it when people put their views out there loud and clear (to be tested) as it creates the variety that allows us to integrate the sum of other peoples sentiments and helps us form a view. I tend to write in a confident (smug way if you like) way that helps test peoples confidence in their own views on a stock price and I appreciate it when others do the same as it makes me question my own assumptions. I just tell it the way I see it though, right or wrong.
Eshmun
DLS Price at posting:
89.0¢ Sentiment: None Disclosure: Not Held
