Premier Gold Resources is not a stock which was on my personal radar in terms of potential recovery situations. However, it was offered up to me by a kindly Twitter follower. What can be seen on the daily chart currently is that we appear to be in the run-up to a combination of a bear trap reversal, and a W-shaped rebound contender.
Perhaps more than anything else what gives charting a bad reputation is when what appears to be the perfect formation/pattern then goes and gives traders a slap in the face.
There are some recovery situations where a great deal of head scratching and soul-searching is required to finally plucked up the courage and press the buy button. However, it would appear that after an exceedingly long wait Cadogan Petroleum as returned as a likely share price revival contender, and done so in style.
It is quite clear from the daily chart of African Eagle in recent months and years that this is certainly not the type stock that dreams are made of, unless of course you are a bear.
FTSE-250 engineering, procurement, construction and technical support services group, Kentz (KENZ) has announced it has been awarded its “largest US contract to date” - this for the Point Thomson gas cycling and condensate production plant in Alaska.
A great album by the Sex Pistols, one of the greatest albums ever, and although Johnny Rotten did not know it of the time, the perfect retort to the latest article on Cupid by Tom Winnifrith.
There is something comforting about Greggs (GRG) the Newcastle based convenience food company; as reassuring as Geordies cheerfully tucking into sausage rolls, whilst sitting astride a cask of Newcastle Brown to the sound of a brass band playing “Pick ya feet up Geordie Hinnie” - and what is wrong with than man, do I hear you ask?
The U.S. Comex gold future prices rebounded 0.33 percent this week to $1,397.20 on Tuesday and reached almost $1,408 during Wednesday Asian morning. The S&P 500 index is flat this week after falling 1.14 percent last week.
Shares in AIM listed tech stock Enables IT (EIT) are ahead by 15% at 40p today prompting suggestions that something is afoot. That would come as something of a relief to shareholders in the company formerly known as Nexus which has been a serial disappointer.
Perhaps the saddest back about UK pharmaceutical companies is the way that while we all hope they will blossom into the next Glaxo or the next Astra, too many of the minnows have fallen by the wayside.
While picking stocks that are creating a buzz on the bulletin boards is always a fascinating pursuit, as most of us are aware, it is not necessarily a path to riches. Indeed, there is a risk that the buzz is just as likely to be flagging a sharp break on the downside, as it is to the immediate prospect of a mega rally.
Sefton Resources (SER) – the AIM Cesspit company that is suing me for libel – has served up May output data from its Kansas operations. At least we will not have to suffer much more of this rubbish as it is 20 seconds to midnight on the great cashburn clock. Tick Tock Tick Tock.
I have to confess that one of my best calls of the year-to-date in Noricum Gold was not actually a situation that I found myself on a charting basis but actually flagged to me on a fundamental basis from the newsflow when the shares were below 0.5p.
Shock, horror we have a down day for IGas Energy shares. The question now is whether after all the media hype, which has been almost universally favourable, the shale Gold Rush play can live up to expectations? From a technical perspective it would appear that it can, after an appropriate period of cooling off and consolidation.
Last week I noted that, at 28.75p, shares in AIM-listed gold producer in Azerbaijan, Anglo Asian Mining (AAZ) looked a compelling investment but that, with sector sentiment dire, significant patience would likely be required.
The AIM cesspit awards for me represent balance to some great business plays by aim listed companies with the clear diabolical and reckless errors of judgement or moral position by the less affable of companies. While the FTSE 100 has raced ahead, AIM has lagged badly in part because many view it as a Dick Turpin exchange.
Given the nature of the beast, the beast referring to resources stocks in general, it usually seems to be wise to adopt a mixture of momentum trading-following moves to the upside, as well as trying out the odd toe in the water bargain-hunting opportunity. This latter is what we appear to have at Empyrean Energy.
In for a penny in for a pound, another couple of observations on Cupid (CUP), the AIM Cesspit listed company that yesterday issued a statement in which it claimed my comments in an article that day were misleading.
The recent rebound in Gulf Keystone shares means that they are fast approaching not only the level of the broken two-year uptrend line at £1.70, but also what can be described as the coastal level, the £1.67 zone where CEO Todd Kozel transferred 10 million ordinary shares to a third party.
AIM-listed global project management and technical consultancy, WYG plc (WYG) has delivered a reduced adjusted pre-tax loss of £1.36 million for its year ended 31st March 2013, down from £4.61 million in the prior year as it continued to drive ‘self help’ initiatives (the company claims a £0.7 million profit for the year though this includes a net £2.06 million of acquisition/disposal gains).
I always defer to Paul Scott on matters retail. He is the guru. He got Boohoo (BOO) right and I was wrong (before I turned volte face and was right). So if Paul Scott says he has bought 1% of Sosandar (SOS), as a fellow shareholder I am cheered.
I am rather disappointed in the management of the UK's leading independent review site AllAgents.co.uk - they have let us all down. They sought to raise £50,000 to allow them legal support against fascist lawyers letters from Purplebricks (PURP) which demanded bad reviews be taken down.
Each time you have a new chancellor you soon find yourself thinking that the one before who, hitherto you had viewed as the biggest poltroon ever to hold up a red box, was in fact a towering genius. Thus I am beginning to think that Osborne - who was utterly hopeless was a giant compared to Hammond. On how to try to buy the votes of young people with taxpayers cash yesterday he was awful. His thinking about the housing market is wrong from start to finish.
I am a bear of Uk Oil & Gas (UKOG) but here is a leading broker in a private email to his clients putting the bear case very eloquently indeed. Here is why you should sell your shares in the company best known for the now infamous Gatwick Gusher !
This is interesting. Are the glory days of Fevertree (FEVR) behind it? Is it time to call the top? This is the bear case as presented by a leading broker today. It is an interesting read...
Apologies for the lack of a bearcast yesterday, I was just feeling tired and hacked off with the world of work. So you can have two today. I start with a look at the markets covering Greka Drilling (GDL) and related party dog Green Dragon (GDG). Then it is onto Mothercare (MTC), BCA Marketplace (BCA), On Line (ONL) and finally in some detail Westminster Group (WSG) where I wonder if the curse of Tony Baldry is about to strike.
Given that I have closely followed the Serica Energy (SQZ) story here closely over the last few years, and in light of the news this week, I felt that I should give my current thoughts on it.
WARNING: THis podcast contains some bad language. In terms of the liar, James Longley I am talking about you though I sedem to have mixed you up with your partner in crime Charles Tatnall in the podcast. Though you two have a stable of dogs on the market including Papillion, Starnger and Plutus Powergen it is Fandango Holdings (FHP) about which I have questions today. Then I have a detailed look at the dire results from worthless Mosman Oil & Gas (MSM) before heading onto Indigovision (IND) and WYG (WYG).
I was uber bearish on Mothercare (MTC) in yesterday's bearcast and could easily see it go to zero as I explained in full. My confidence in that assessment is reinforced by comments made by Matt Earl, the Dark Destroyer who is the Mothercare specialist in the global shorting conspiracy.
Since we own some shares in Berkeley Energia (BKY) I hope that Daniel Major is right in his thesis. In this podcast hel discusses the long-term potential of uranium and why the industry needs higher prices to fill the supply gap. The short-term issues are that 75% of the industry remains near or below the cost of production. Companies currently can’t afford to replace their resource. Cameco has taken the lead in closing down one of the best mines saying that it’s cheaper to purchase uranium from the market. Cameco’s announcement was a major event for the uranium industry.
Fox Marble (FOX) has announced “an important new sales channel for the company into the United States” and further sales under a previously announced agreement to Turkey. Good news on the Turkey front this Thanksgiving..
Hello, Share Riflers. Having written recently on my occasional dabbles in momentum trading, I thought it only fair to mention a share I’m trading at the moment. This share is rocketing along this week.
An AGM statement from a self-styled supercapacitors and energy management systems “world leader” CAP-XX (CPX) commences “the company's order book is currently up 242% year on year because of the strong order intake for the Internet of Things” and also includes “royalty and license income continues to grow and financial year to date receipts from Murata have more than doubled year on year”. Sounds promising… and ooooh, the Internet of Things hey…
I should start this piece by making clear that I am a fan of Paul Scott. I think his coverage of the small-cap space is excellent, data-driven and based on years of experience. But his investment in Sosandar (SOS) is a punt too far. I’ve been tempted to comment on Sosandar for a while now but Paul’s Bulletin Board moron-esque attempt at justification yesterday has tipped me over the edge.
After the Illumina legal setback for Premaitha (NIPT) we suggested that the cost of that setback was very manageable – a maximum of less than £2 million is what we hear – and that the underlying business is doing very well. That view is reaffirmed by latest news.
A half-year report from Mothercare (MTC) includes “we are on track with our transformation plans for our business, with like-for-like sales in the UK growing 2.5% and gross margins up by 34 bps year on year, in the first half. Across the business, we continue to invest and make progress, developing the Mothercare brand into a digitally led, global specialist”. So why are the shares currently a further more than 16% lower, at circa 70p?...
A leading broker today sums up the bear case for Renewi (RWI). Er Renewis who? Well this used to be Shanks & Mckewan a good Scottish outfit in waste management. But then... over to the broker:
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