Ripper83 wrote:"I'm new to all this guys... but can i ask why we are heading south in sp. I thought this would be good news therefore head upwards"
To be honest, it's hard to say. Since the GFC the markets have not been behaving as they would have traditionally.
Today the sellers have been high, even though the rate of sales is low. I'm guessing a lot of people need to sell up for their T+3 values, but aren't quite willing to jump out yet.
The caption of the annoucement didn't say anything like "yee-haw!", so therefore some people think it's bad news. It isn't. It's simply a progress report.
The important thing in the announcement is the comment that CTP expects it to flow oil to surface.
When they release the final testing is when we should see the major change in sentiment. For now, hold on, or increase, if you don't need to sell. Of course DYOR and follow proper advice.
- Karl
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