ShareHub Hotlist 2018 Review – Week 21

Week 21 concluded. Just another 5 weeks to go to H2. Thus far, we’ve had the euphoric extended santa party in early Q1 followed pretty swiftly with a market wash out which saw 1000pt day to day swings on the DOW. The dust has since settled, but the present market mentality is to ‘over-react’ to twitter/media headlines and then under-react to the real factual news. It’s not uncommon to see some jumpiness after such a bullish run. Take the recent pullback on PoO from $80pb to $75pb (Brent). Nothing goes up in a straight line so some profit taking was always going to take place at some point. But what followed across many commodity focused equities was way overdone. PMO as an example dropped around 30% based on a mere 6% decline in PoO. Tullow performed better yet still suffered a significant 15% slide. It might take a few more gyrations yet before the markets get some genuine alignments to higher PoO pricing which looks set to remain for the duration of 2018 or certainly through to the Saudi Aramco IPO. Post that massive event (world’s largest IPO), it is anyones guess.

Another week passes and another non-event for Mrs May and Brexit. The stalwarts in Brussels will have had their eyes on what’s being served up closer to home. Italian Spaghetti laced with popular toppings or Spanish fiery chorizo spiced tapas. It would appear that the EU has enough on its plate for now. Brexit, Texit or Spexit. It’s not going to end well no matter how you cut it. Elsewhere Mr Moon seems to have stolen Trumps thunder by rescuing the Korean talks. The market doesn’t like uncertainties, so issues such as Iranian sanctions and Korean talks will dominate near term. It tends to go a little quiet during World Cups almost as if there is a global political truce in place while the beautiful game gets played out. So don’t be surprised to see the usual summer malaise kick in. Issues around Putin (or Russia) seem to be eerily quiet. Although the owner of Chelski seems to have found the UK less than helpful when gaining a new UK visa. Easily solved… just head off to Israel and get a new citizenship. Surely Mrs May and co will not be side-footed by such shenanigans? Well, the UK Gov have been aware of Russian cash making its way through the City of London for decades and thus far not a lot has been done about it. Shocking really.

Week 21 review:

Yet again, the Daily Mail top 8 picks performed well while the ShareHub commodity focused top picks consolidated after some hefty gains. It’s neck and neck between these two. The Guardian picks suffered further but are still 0.5% up for the year. TheShareHub top ten picks quick fire summary below:

1. AMER – Poor H1 performance to date and large seller still dumping stock. But recovery from lows looks solid leaving decent upside ahead upon upcoming drilling success. Note: Dusters are also possible.

2. CERP – Next Quarterly update eagerly awaited especially on Production. Share price is 7% down for the year which leaves plenty of upside ahead based on playing catch up nevermind operational progress. The company hasn’t put a foot wrong so the static sp is a puzzle.

3. CORA – Decent exploration results. Next phase requires more cash hence another placing should be on its way or some other deal/arrangement?

4. HUM – Need to see a quarter or two of solid cashflows before market will mark up the share price to where it should be circa 60p+. Exploration phase to kick off soon providing near term catalysts along with shiny Gold coin sales. Plenty of upside in H2 assuming exploration phase goes well and cash continues to roll in as planned.

5. PFC – After the Barclays SFO debacle, it’s surprising to see PFC still suffering from this issue but until it is resolved.. the market will slap on a discount. RollsRoyce came through just fine and PFC should follow. Ops look on track.

6. PMO – Catcher going very well. High impact Mexico exploration around the corner and debt beginning to reduce. Cash flows pouring in with PoO in the $70’s and $80’s. The only surprise is that the SP is still sub 150p. After the Solan debacle, one can’t blame the market for taking the cautious view.

7. PVR – Barryroe looks set for a 2019 story rather than 2018 which is a disappointment. That said, booking an advance ticket ahead of that entertainment might prove fruitful as the stock looks cheap based on future plans.

8. SQZ – Needs to get more clarity on 50% Iranian owned assets but even placing these aside the cash flows should look solid for 2018. Plenty to do across their folio in 2018.

9. SOLG – Needs an updated MRE as the market is beginning to ignore the monthly resource updates no matter how great they are. Investors want to see planning for the future in tandem. Large development plans cannot be defined until full resource known but some kind of indication on an early commercial (smaller) development to bring in cash flows would be welcome.

10. WRES – Apart from the usual development issues, progress has been slow since the funding deal. The company nomad missed the fact that one of WRES’s largest shareholders appears to have failed to file accounts and as such has been struck off. Whilst WRES did update on this matter, it has yet to be finalised with the 6% holding being held by the Crown. Just how much do these nomads get paid these days? Spanish politics important to WRES so something to keep an eye on.

More updates to follow on the above ‘as and when’ the news rolls in.

PetroMatad cheap as chips

With royal wedding fever alive and kicking I thought it might be worth revisiting Kate & William’s more formal day. It was roughly 7 years ago (time flies doesn’t it?), in April 2011, when couple tied the knot. Around the same time, Chariot Oil & Gas raised a further £100m in cash from investors to fund an exploration drill in Namibia. Small change at the time? UBS thought so.

From 2009 through to 2011 (approx) Chariot Oil & Gas jumped from 16p to test 300p+. UBS at the time (2011) were giving out targets of 450p a share or roughly £800m market cap ahead of drilling.

Times have changed since then… or have they? Back in 2011 Brent averaged around $110 for the year. However, OPEX was nearer $75pb in those days giving $35pb or so towards profits. Today, Brent is shy of $80pb but OPEX on most producers is just below $40pb. Some have lower OPEX’s near $30pb. The profitable upside is actually higher now than it was in 2011.

So why is PetroMatad priced at £60m market cap when CHAR back in 2011 was priced at £400m?

A lot has to do with ‘market conditioning’ and ‘sentiment’. It’s been a while since we’ve had a mega discovery. Billion barrel discoveries are rare. The chances of success are low. So how does this compare to Premier Oil’s Mexico discovery? Or Hurricane Energy’s North Sea discoveries? Both are in the billions. Both have delivered the largest discoveries in the last decade yet the today’s market treats them like minnows. And as for ‘sentiment’. Well after a few dark years post OPEC’s Dec 2014 decision to flood the market, things are looking better again. Sentiment has improved although you wouldn’t know it looking at some minnows targeting big exploration.

Whilst I think many would agree that in the days of 2009 through to 2011 CHAR’s move from 16p to test 300p+ was a little premature, the point here is that UBS and other analysts at the time were comfortable with banging out broker notes with even higher targets.

Today, At 12p a share, PetroMatad is priced at just £61m. If it were to rise to the lofty heights of 50p a share, it would still be priced at half of what CHAR achieved 7 years ago when profit margins on oil production was indeed lower than they are today. As per usual, the market spins its own web of uncertainty but the truth is… billion dollar discoveries actually are possible as proven recently by PMO and HUR.

PetroMatad (MATD) are due to kick off a 4 x well exploration plan in the next 6 to 8 weeks. It is likely to be back to back drilling and assuming the summer fever is upon us, the usual non-stop AIM style excitement should run all the way through to October. It could be exhausting but with 4 x high impact drills lined up (100% owned), I reckon they stand a better chance of hitting the black stuff than CHAR ever did. If sentiment continues to improve, it might not be too long before PetroMatad’s share price improves too.

PetroMatad (MATD) is part of the ShareHub ‘heads up’ stocks for 2018. Usual risks apply. Please read the risk warnings in the sidebar.

ShareHub Hotlist 2018 Review – Week 20

A good week for all 2018 picks including the newspaper tipsters. It feels rather buoyant out there at present with the sun shining and Commodity stocks flying. But spare a thought (not for too long mind you) for Kairos hedge fund. They made roughly £150m shorting Carillion (approx) and then got smacked for six on Ocado to the tune of much the same… £150m+ (roughly). Win some and lose some? Looking at the timing of trades, it wasn’t a slow build decision. Someone somewhere at Karios decided that a hefty short on Ocado was a good idea. Now… as many know… ‘apparently’ the Carillion collapse was telegraphed to ‘some’ lucky bods months in advance tut tut. I doubt the FCA will have them by the necks but suffice to say, Carillion was a free short bet for some. I’m not suggesting that Karios had a heads up on Carillion’s precarious position but merely highlighting that shorting Carillon may not have been as inspired as it first appears. Looking at the woeful short position decision on Ocado, one would assume Karios’ luck ran out or they got some duff info… ouch. Shorting the big grocery/ supermarkets might have seemed like a good idea some months ago, but after Sainsbury/Asda pulled the rug under more spiv shorting hedge funds, you’d think some would have learned their lesson. When it comes to village idiots, Karios are not the only ones. Marshall Wace seem to be picking wrong bets more times than a punter on a fixed odds betting machine. Perhaps the EU should introduce a law to reduce Hedge Funds shorts to a minimum punt of £2 per stock? Now wouldn’t that be a great idea? Save them losing clients money and abusing the market on a daily basis? To be balanced, we all make good calls and bad. It’s never nice when you score at both ends. The Casino has a habit of getting your money off you even after its dished out some carrots. So just because you’ve made a few good calls of late and suddenly think you’re warren buffet, just remember, today’s market is at all time highs, the recent bullish run on equities is fundamentally down to low interest rates and QE. If you can’t make a few quid in this market, then you are definately in the wrong place.

After a few years of hanging off a cliff by its toenails, Premier Oil finally surges higher. The catcher development is a story about a field that plateaued at the right time. After PMO’s Solan development disaster, it will come with much cheer to investors who have been subjected to a helter skelter ride. PMO look out of the woods for now and based on past valuations, the market has still left some headroom to fill. 180p+ looks a fair level to ‘plateau’ through 2018 summer period. 2017 ShareHub pick ‘Tullow’ has also bounced back. The bots and Algo’s are really struggling to balance the upward movement of these stocks while trying to contain the major Indices. It’s all linked in some form or another. Considering the FTSE100 is notoriously ‘commodity’ heavy, it’s surprising the 8000 level has not been broken already. Looking at the next reshuffle the FTSE100 and FTSE250 could see many of the blackgold (and Gas) producers coming back into the mix. It wouldn’t hurt to pay attention to the admission / valuation criteria on some stocks like Premier Oil, historically, funds are forced to buy in upon entry and this often brings with it higher volumes, a different type of investor and solid spikes. Not always… but often.

Elsewhere… Gold has wobbled of late and looks odds on to bounce higher once the Hedge funds have had their fill. Risk factors are still very high across the Mena region but in other global parts issues over North Korea have reduced and it’s all gone eerily quiet over Russia. With the World Cup kicking off in Moscow in just under 4 weeks time, it’s going to be a precarious time for all involved. Hence it comes as no surprise to see tensions reduced ahead of this global televised bonanza. The media, sponsors and advertising channels have all invested billions into this event so important not to shoot themselves in the foot! First game up is OPEC vs NON-OPEC.

Congrats to Megan and Harry. Due to the unseasonable UK weather, Harry was not the only red top gleaming on the day. A few scorched followers will have been reaching for the calamine lotion on Sunday. Blighty was sparkling in every way as media channels beamed across the globe. Bodes well for Carney and co so I wouldn’t rule out an August Rate rise just yet.

And finally… ShareHub subscribers will be aware that due to GDPR regs, a new Privacy Policy is in place. To all non-subscribers, you may notice consent boxes appearing across the site. Please also read the new Privacy Policy. TheShareHub takes your privacy very seriously. As a ‘free’ site with no advertising or any form of revenue stream, TheShareHub is non-commercial and unlike Facebook or Twitter or Amazon etc etc TheShareHub does not seek to track you down or use your data in dark ways. The ‘Subscription button’ on TheShareHub has been temporarily removed (don’t panic) but will be reinstated on May 26th. More features are planned for ShareHub subscribers which may include a newsletter with 1 or 2 added ‘heads up’ stocks of interest.

Week 20 Review:

Stunning performance from the DailyMail picks which has turned a 10% decline some weeks ago into a 7.3% profit. The Algo’s are dragging every cat and dog up in the FTSE off the back of the commodity recovery. In theory that should begin to rebalance as blue chips get sold off and commodity stocks replace them. That said, never a bright idea to have all eggs in one basket so some diversification never goes amiss. A good recovery from AMER helped the ShareHub picks rise to 13% and that’s with weak performances from HUM, PFC, SQZ and WRES thrown in. When (or IF) these stocks finally buck the trend and surge higher, the ShareHub picks should be out of sight. For the moment, hats off to the DailyMail for putting in a fight. The Guardian picks are perhaps an example of how the blue chips (in general) are being parked while money finds its way into more ‘popular’ stocks.

Week 20 positions below:

ShareHub Hotlist 2018 Review – Week 19

June 23rd 2016 – Ring any bells? For those cheering for a Brexit the date is etched in stone and of equivalent importance to that of 1966 to all English Football followers. The latter will know all too well just how painful it feels to achieve a great victory only then to spend the next decade or five waiting for the next victory to come along. If someone had said in 1966 that it would be another 52years+ before England would look like standing another chance of winning the World cup, they would have been laughed at. Almost 2 years on after Brexit and you can almost feel the frustrations beginning to boil. After the initial stunned responses from all parties involved, the EU and UK locked horns in a battle over terms and details. It’s complicated. Don’t get me wrong. This is no easy feat. But lets get real here. The Conservative government has had almost 2 years to arrive at a customs / trade agreement and as yet, all appear clueless. In a world dominated by digital media and virtual ‘borders’ one would think a solution would be as easy as a few clicks of a mouse. A decent facial recognition system that can scan through a few balaclavas would also not go a miss. TheShareHub mentioned a few months ago that it felt like all involved were dragging their feet… delaying the inevitable in the hope that public sentiment may change in favour of remaining or better described as a ‘Soft Brexit’. It looks like a Brexit, waddles like a Brexit, quacks like a Brexit… but is actually a few EU regs away from being a ‘REMAIN’. At present, the writing looks like it’s on the wall… and any timeframe agreed 1 year ago looks like slipping into 2020. There are even some experts out there citing 2026 as being a potential clear break point. That’s only another 2 world cups away… so you never know, England’s football team may well hold the Golden globe above their heads before Brexit finally happens. The chances of either happening before March 2019 looks highly unlikely. In the meantime, the UK economy slows to almost zero. The all important UK property market dropped by 3% in April against a -0.3% expectation. It was a shocker and carefully played down by all media sponsored outlets. Blame it on the beast from the east? Well, considering March, April and May are supposed to be the strongest periods for the UK housing market, it doesn’t bode well for the quieter months come July, Aug and Sept. Added to this, the woeful weather also took the blame for a 3%+ drop in retail sales. UK commuters will know the danger of a few leaves on the tracks, but who would have thought a few snow flakes would have turned Mr Carney’s BoE rate cut plans to slush? Whilst the weather has not helped, the real ‘beast from the east’ is indeed the EU. The dangers of protracted Brexit discussions are now being broadly felt across the UK and the EU. Uncertainty is a killer of sentiment. Unless some clarity begins to appear, it’s just going to get worse and that ultimately means more QE and a return to rate cuts rather than rate increases. The recent ‘kicking the hornets nest’ by the US in the MENA region has brought with it more uncertainty across the globe but also higher commodity prices which in turn cause higher inflation concerns. OPEC have been kind. Between OPEC and Russia, they have carefully rebalanced the world’s supply against demand over a 3 year period giving countries/governments across the globe an opportunity to grow out of a recession. But lets not forget where PoO was and where it is today. PoO (Brent) was trading at $105pb just 4 years ago. Today, Brent is trading close to $79pb. Even at $90pb, it’s still a decent 15% shy from 2014 levels and that’s against growing global demand. The worst may be yet to come. Whilst US shale is able to scale up swiftly, it is also fast to decline. It might just keep coming or it could hit a patch whereby replenishing supply takes a little longer. The certainty of delayed projects and limited supplies is more apparent across NON OPEC supplies. The North Sea as well as many other areas across the globe have seen development projects shelved. It could take years before significant new production streams hit the market. All points to higher Crude/Brent prices in 2018 and this will either be compounded by Iranian sanctions or alleviated by higher Saudi/Russian production. One thing is sure… PoO is being nicely polished ahead of the Saudi Aramco IPO. After Trump’s recent helpful actions, it would not surprise me one bit to see the Saudi’s appoint Goldman Sachs/BoA and co as the leading book runners for the world’s largest IPO. The commissions alone in handling a deal like this dwarf any normal market action in any given year. I suspect the LSE will benefit too but assuming the above, it is likely to be peanuts compared to the US companies. Plenty of ‘back scratching’ going on out there at present and to his credit, Mr Trump is making UK and EU look a bit like naive kids at their first day at school. If the UK and EU are going to get anywhere fast over the next decade, it will be by working with each other… the sooner the better.

Week 19 Review:
Strong recoveries continue across the newspaper picks as the bluechips get hauled up with the algo bots chasing the FTSE higher off the back of strong commodities. The latter is due a breather but assuming there is a continued switch out of retail sectors/banking etc, it’s likely to see some solid support over the next few months as commodities keep the FTSE 100 unseasonably high. Sell in May? In 2018… No way! TheShareHub top ten picks lead the way although frustratingly held back by some slow progress (in share price terms) from HUM, SOLG, and CERP. All are lagging despite great updates, so one would assume these should outperform or consolidate well if or when a commodity ‘breather’ comes along. Unfortunately for Serica, having assets co-owned by Iran is not ideal but looks like worst case scenario is already priced in. I would expect CERP, SOLG and HUM to be the biggest movers over the next quarter. PetroMatad (MATD) as part of the 2018 ‘heads up’ calls should also spring into life as the long awaited summer blockbuster exploration drill plan gets underway. Roughly 6 weeks left to get tickets booked – cheap seats still going for that show. Usual risks apply – see the risk warnings in sidebar.

ShareHub tip – Kaz Minerals hits 10 bagger milestone

Kaz Minerals is no minnow. This is not a flighty AIM story. This is a story of stock that simply got oversold at a time when the market thought commodities were dead and buried. Of course, Kaz Minerals is not the only FTSE stock to recover strongly over the last 2 years. As mentioned before huge sector bellwethers like Anglo American and Glencore have all recovered strongly after the rout of early 2016. Just what was the market thinking? How can you value Kaz Minerals at £450m and 2 years later value the company at £4.5bln? Well the answer is simple. The market (now regularly called a ‘Casino’ is stooopid. It’s dumb at the best of times. Sophisticated it is not. Algo bot driven, spread driven, hedge fund driven… you name it… the market has become so divorced from reality in ‘value’ terms that idiotic pricing gaps occur on a daily basis. And guess what…? Who cares about value? The market today is simply about generating enough ‘opportunties’ to make money. The more ups and downs the better. It’s recovery stories like Kaz Minerals that all investors should learn a lesson from. The market can be irrational. The market can be very wrong. The market is the market. Investing in stocks at times of panic and fear is a volatile time – it’s a risky business and as such discounts to share prices should be expected. Sometimes companies go under. Sometimes they don’t. But most of the time, companies that are in trouble or looking weak, simply become weaker in share price terms based on shorting activity, debt holders arbitrage trades and of course the vultures… you know the types. Instead of helping good companies recovery from weakness, the market seeks to grind them into dust hoping to pick up the pieces for pennies. It’s an ugly attitude and reveals the true city/market mentality. Make money at all costs. Fortunately for Kaz Minerals and a few others, they escaped the ‘manufactured’ weakness in share prices and have since recovered strongly. If you look back, you won’t see too many broker recommendations on these stocks. Quite the opposite… an eerie silence. Tut tut!. As long term ShareHub followers will know, The ShareHub picks of 2016 returned a whopping 123% growth – final Results shown below.

Look a little closer and you’ll see Kaz Minerals ended 2016 at 357p delivering a solid 2.5 x multibagger after being tipped by TheShareHub at 102.25p. Today, Kaz Minerals touched 1035p and goes into the hall of fame for a second time with a magical 10 x multibagger status tag. Well done Kaz Minerals.

Of course, there are instances when successful stories end as horror stories. Look no further than Xcite Energy. Included in the 2016 picks and contributed a nasty 10% slice off the overall folio performance. And 100% down the drain on a single lined stock basis. Looking at the market today and the current Oil Price on Brent of circa $77pb, there is no doubt that Xcite Energy would be trading at multiple millions with booked reserves of circa 250mmboe+. Unlike Kaz Minerals and others, Xcite Energy failed to secure the funding they needed. A combination of poor management decisions and a market that was bearing its teeth with glee ended what should have been a very prosperous North Sea project generating many much needed jobs. Of course, hindsight is a wonderful thing, but the point that needs to be noted is that had Kaz Minerals and Glencore needed help/support, the chances are they would have been highly dilutive. That’s not the market ‘helping’ companies. It’s a market that seeks to suck the very last drop of blood. Wouldn’t it be refreshing if the market actually stepped in from time to time to ‘assist’ companies in distress on a fair value basis? Afterall, when the boot was on the other foot it was the UK tax payer that was asked to step in and save the bankers and spivs blushes. Today, bonuses throughout the city are flowing again like 2008/2009 never happened. Perhaps if the market took a different tactic going forwards it might help support ‘value’ resource based companies rather than drill them into the ground?

So next time you get fed up with the market and feel valuations are a joke… just remember the Kaz Mineral story. The market gets it wrong…. sometimes very wrong and that’s where you’ll often find the greatest opportunities of all… albeit with higher risks attached. Value often wins through in the end.

The market is full of multibaggers out there – you just have to find them.

ShareHub Hotlist 2018 Review Week 18

Oh, yes we’re in the money, you bet we’re in the money,
We’ve got a lot of what it takes to get along!
Let’s go we’re in the money, Look up the skies are sunny…

Sunny indeed. What a belter of a bank holiday for blighty. The chances are it’s come too late for Carney and BoE’s rate plans. The beast of the east has apparently cost the UK economy billions. Of course there is more to the recent Retailers demise than just a bit of poor weather. Amazon and other digital providers are the main source of concern for bricks and mortar retailing – that and a worringly weak consumer back drop. It’s not going to get any easier for them. The future is ‘online’. But changes in dynamics brings with it a change in thinking. You’ve got to out-think your competitors if you can’t beat them on margins. Which is precisely why the Sainsbury & Asda merger deal makes so much sense. It’s always nice when the plethora of hedge funds and wide-boy boiler rooms shorting Sainsbury stock get a rocket up the derriere. You’re not in the money… not in the money… your losses are a lesson to ooo ooo thee.

Week 18 was a good’un’ for Hummingbird Resources. You wouldn’t know it looking at the share price. The stock has barely moved from levels last seen in August 2017 when PoG was $1250oz and their Yanfolila mine was just a few mounds of scorched red Mali dirt. Fast forward 9 months, and the red dirt has been transformed into a fully operational and ‘commercial’ mine knocking out roughly 10koz per month. Add to this the surge in PoG prices now in a range of $1300oz to $1360oz and one has to scratch the head as to why HUM is still priced at Aug 2017 levels. One reason for the sluggish performance rests not with the business but with a large investor called Pageant Holdings who have (for there own reasons) been reducing holdings of circa 5%+ down to 2.9% and lower. One thing is sure, you’ll know when they are done selling as the share price will likely catch up with the business performance pretty fast. It’s certainly a potential ‘opportunity’ for newbie investors looking for exposure to Gold prices via a fully commercial early producing mine. As always, risks remain so read the general investment risk warnings in the sidebar.

Elsewhere across the TheShareHub top picks for 2018, CERP.L is showing signs of awakening. Looking across at their peers in Trinidad and Tobago, TRIN.L have performed terrifically well bouncing almost 100% over the last few months. Any positive update from CERP on production or further acquisitions could see the stock play ‘catch up’ pretty fast. At 5.5p range, the stock is trading well below Oct 2017 highs of circa 7.5p. It might not be too long before the stock heads higher. Schroders continue to build their stake in the company with recent Holdings RNS’s showing a stake of circa 14.2%. TheShareHub highlighted back in Jan 2018 that Schroders may well be targeting a nice round number at 15% or possibly 20%. For the moment, it’s a process of shares leaving the hands of the impatient to the patient. CERP may not appeal to the usual daytrader types due to low liquidity, but just wait for a deep exploration well to be announced in 2018 or 2019 and the herd will be fighting to get through a very narrow door. Schroders and co already have their seats booked.

Week 18 positions below: Further recoveries from the newspaper picks as they head toward breakeven for the year (excluding any divi’s). TheShareHub Hotlist is the only one ‘in the money’ and is just shy of hitting 2018 highs last seen some 5 months ago. It’s been seasaw stuff with the DOW losing some 2500pts over the same period, so certainly a strong sign of out performance by commodities of late. All eyes on US/Iran sanction decisions set for before or on Thursday May 10th. Could be same day as BoE’s now fast becoming non-event rate decision. PoO will likely sell off whatever the scenario this week as the casino market likes to shake it up albeit temporarily. Bigger woes lie ahead for Oil supplies beyond Iran as non opec output continues to fall against rising demand. When the rebalance arrives, the market is likely to overshoot as it’s far from sophisticated these days and a little heavy handed. $85pb is certainly possible over the next few months. Bodes well (should it happen) for ShareHub picks TLW, PFC, SQZ, CERP, AMER and PMO.