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PSA, PETSEC ENERGY LIMITED
misterious
post Posted: Jul 26 2006, 05:30 PM
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In reply to: NightStalker on Wednesday 26/07/06 04:42pm

Why would you want to do that given we are only a matter of days away from the China announcement which may be, in fact has a good chance of being, very positive?

 
gutfeeling
post Posted: Jul 26 2006, 05:06 PM
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personaly I thought the qtly was inline with my expectations. I guess market was not too impressed with write off of 10 Million USD. It reminds me of Price lake. As I metioned before the drilling costs for Offshore have gone through the roof @ 125K USD per day. My guess is jacket 5-6 million drilling the rest. Certainly it made sense to drop the 2nd well. ( I assuming they also wrote off or expensed the jacket and they are not depreciating it). Maybe they can still use the jacket elsewhere?
Unfortunately I think it may also go lower. Luckily I have no Margin lending on my stock. If it falls to crazy levels below 2.10 then I will maybe purchase some more to add to my existing holding. I will wait for news on China before buying anymore.



 
NightStalker
post Posted: Jul 26 2006, 04:42 PM
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Well - the market sure didn't like it! Big drop at the close.

Chart now looking very bearish indeed. If it doesn't gap up on the open tomorrow, I'll be out - if I can sell my rather large holding in smaller parcels in order not to push the price down further....





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Regards, NightStalker

Algorithmic trading, and HFT are rendering Technical Analysis null and void.
 
petzl
post Posted: Jul 26 2006, 04:08 PM
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Second Quarter Activities Report



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annaliese
post Posted: Jul 26 2006, 04:07 PM
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Just had a quick read of the quarterly. Their cash flow is a lot better than I expected given the $5 gas price.

All up no surprises and plenty of drilling coming up q4/q1/07.

 
dory
post Posted: Jul 26 2006, 03:44 PM
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Hi

I don't hear people get upset when it happen's in reverse ie-{going up }




 


NightStalker
post Posted: Jul 26 2006, 03:35 PM
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Yes - I remember the algorithmic trading last year, and I also emailed the ASX about it back then, just before it stopped. I emailed them again an hour or so ago, but haven't heard back yet.

The same thing was happening to PDN a couple of weeks ago, the ASX investigated, and it stopped. I don't know if they spoke to any person about it, but the computer trading stopped within a few hours of my email.

It's certainly very annoying, and to me, it smacks of manipulation by person or persons unknown. The share parcels are small enough to be done by a private trader - it doesn't necessarily need to be a broking house, fundie, or whatever.

I still can't help being cynical enough to be concerned at the sell-down over the last few days and the influence of some inside knowledge just before the announcement..... but I'd be happy to be proved wrong.





--------------------
Regards, NightStalker

Algorithmic trading, and HFT are rendering Technical Analysis null and void.
 
gutfeeling
post Posted: Jul 26 2006, 02:08 PM
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I guess it could also be read as seen nothing of significance yet lets go a bit deeper to make sure we are not missing anything. Personally I hope not, but just to make sure we keep negative possibilities in mind.

If you look at ROC announcment on the 5th of May ( prior to wireline logs on the discovery well ) they were more informative than what they have been with today's announcment. Hence my suspision of the negative verdict. I hope I'm wrong. I still have alot of PSA so I'm not keen for it to sink further

 
chimera
post Posted: Jul 26 2006, 01:52 PM
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NS,
The same algorithmic trading was evident in May 2005 (from memory). Back then the SP dived all the way to around 80c but recovered quickly. Although small volumes these trades are very effective in pushing the SP down. I think it is the combination of timing and stop losses that does the trick. I'm unsure if the purpose is in fact to push the price down but it is one of the outcomes.

Now that I think about it someone reported it to ASX and the trading stopped for a while.
There was a lot of talk about it on this forum.

cheers,

 
Hotfire
post Posted: Jul 26 2006, 01:48 PM
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In reply to: NightStalker on Wednesday 26/07/06 01:20pm

I have sent an email to ASX regarding this..

Will i get an intelligent response.

From memory the last time I saw this trading pattern was about 12 months ago, then the price rocketed upon an announcement. Someone correct me if i am wrong.

 
 


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