No Rationality In these Markets, page-16

What was the retail take up of the cap raising? Slightly better that 50%? The rest were sold to the book build corporates who would otherwise be in the market buying?

If you flip the Brent chart, you will see yesterday's drop below the mid year low was even more pronounced that WTI. When you see such a decisive break of support on heavy volume, it is a time to be cautious when bargain hunting.

I think your headless chook is targeted at OPEC? These guys have abandoned the 30Mil barrel daily ceiling and pump as much as each of the members can. The so called petro$ is doing a full circle and I am wondering if politics by the super powers is behind this strategy.

This together with BHP were on my target beginning of this year isolated to passive charts in order to find key levels that may interest me. Currently the moving parts are all pointing down in both sets of fundamentals and it "pays" to wait and see approach. If it gets uglier that could be the final flush out of the last bears before an up trajectory but I am not see any signs yet. Good luck, always hate to see investor lose money even if it is only draw downs.