GKP

Slow Eddie

You are absolutely correct, but I'm not talking long or even medium term, just 'the mood of the moment' as even if this is a P&D, the TA combined with positive vibes will help us to take some profits and God knows, some of the LTH's deserve to recover something!

I don't want this site to turn into a BB like iii or LSE as in my view the primary driver of GKP has become the TA but if the City wants to P&D it, it helps if we are reading the TA in alignment with them.

F4T has given us the benefit of his investment in TA and I just wanted to try and give something back. I could be completely misreading the signs but I think the City wants us back up over the next few days/weeks and I want to know whether to consider taking profits at 96/1.04/116 etc. In the short term GKP will behave as the City wants it to regardless of real fundamentals.

I enjoy your posts over on iii BTW - very balanced and down to earth.

One serious counter to that Learning on the fundamental side is the cashburn which means unless the money owed by the KRG is paid soon (and are they even able to...?) then GKP will hit more trouble soon. It already has a lot of debt at fairly onerous terms. Continuing production is good but how will the need for more money play out? Still very tricky to call which I think is reflected in both F4T and TF 's downbeat TA assessments.

Hi F4T

My first post here although I've been registered for some months. I followed your thoughts on Jackozy's site and thought you were quite balanced but you lean to the bear case. If you were ever bullish I would take that as a very good sign as your default was always bearish With GKP over the last couple of years this has been the best option but as you don't pay attention to Fundamentals I thought maybe I could help you out with a brief synopsis (in thanks for all the guidance you have unwittingly given me).

I think that GKP may have turned a corner - at least short term and we may be entering a positive period although it would not surprise me to see it all fizzle out! We are expecting the following bits of fundamental news:

1. The promise of director buys once out of the closed period (associated with the interims);
2. STEAM conference Weds/Thurs/Fri next week (in Istanbul so unlikely to be cancelled at late notice - both John Gerstenlaur and Simon Murray will be presenting);
3. Iraqi Government formation in 10 days time which we hope will result in a far better relationship between the Iraqi government and the KRG.

In addition to all this we seem to have brokers rating us anywhere from 1.04 to 1.54 and a variety of new posters on the boards telling us we are on the up as well as the Chevron rumours.

It could all count for nothing but the knowledge of this may assist interpretation of the runes.

Keep up the good work - it's really appreciated!

My oh riley!!
This stock should come with health warnings!

This looks to be making its way to the bottom supprt line imho.
The best way to trade this, is to stay away!!
hence way i was so cautious with this despite the rise last week.
This is one to side step, unless we break the overhead trendline, or hit the bottom support line imho.

if you do want to trdae this in between,i would to advice to wait and follow Food 4 Thought, he's da man, and he spots the early signs.
uk.advfn.com/p.php?pid=chartscreenshotsh...Ow%3D&symbol=L%5EGKP

Something to note is this gapped down, and its quite a big gap. So does not look good for the long side for now imho.
Regards,
Trendfriend

Nice price action today. Didn't know that fundamental news was due.

Support at 75/76 is important as also ma20. A close below this brings 61 very much into play.

The fact that support was penetrated AND that the open was below this support tells me that we definitely will fall and stay below this level and, given drift, the 60's is a certainty in time.

I'm with TF now. This is a short. If playing the long side, stay clear of this until we have had the opportunity to retest the lows. Watch volume and wait IMO.

There is nothing positive with this share except that fact that volatility makes it great for trading IF you are nimble.

All IMO
F4T

Hi F4T

We have dropped to the support at 75.5p but is the drop to 70.05p significant?