Another "muck and bullets" week at home, demolishing a hideous stone fireplace which quite literally weighed a ton. Simultaneously having new internal doors fitted was probably a mistake on reflection. But, hey, it wasn't all doom and gloom, the place is beginning to show signs of looking like home. Now, if I can just get rid of that moat which surrounds us every time it rains..... We had a bomb scare in town this week which caused some little excitement - an old WW2 rifle grenade was dug up by some builders and the Navy Bomb Squad had to come up from Plymouth to get rid of it. That had a few of the old hands chattering who tell me that there is an old WW2 bomber buried in the sand banks just off shore, parts of which are still visible at certain tides. A crew who couldn't make it back to their local base at the end of some sortie literally beached the plane. I understand the crew all got away from it unscathed. When you're birthday coincides with another anniversary or event, it can oft get out of hand. Mine happens to fall on Burns' Night and it was only Friday morning when I tried to get my head from the pillow that I realised what a good one it had been. The downside - I feel veeeery much older than I should!
Trading on Monday and Tuesday was mainly defensive as technology and telecomms stocks were again out of favour. The FTSE100 was up a few points over the two days but not looking strong at all. The bargain hunters were out in some numbers on Wednesday, shugging off the general malaise of tecnology stocks and pushing the FTSE100 49 points ahead on the day. Thursday trading started off brightly enough but ran out of steam as the day wore on. The FTSE100 registered a single digit gain but looked as though it needed some big news to get it moving with any confidence. On Friday, it took a while for momentum to build and it appeared to be a retreat to the FTSE100 safety net from technology shares as further dismal performances in that sector began to emerge.
The the ADVFN facility is now officially recognised as "best-of-breed" (Best Private Investor Web Site!). The Shares Magazine award was won against stiff competition from UK-Invest, Hemscott.net, Marketeye and Bloomberg. It places even more onus on system performance and now good progress has been made on that front, I hope we can look forward with some confidence. Congratulations to all who have been involved in the development of ADVFN to the extent that it has become so quickly a winner! Now let's keep it at the top!
The Weekly BB Review
Investors in E-Capital have seen their value drain away over the past few months with little respite. Solomon, confessed "shallow researcher", relies on the undoubted analytical skills of Forsaken to keep him informed. In e-cap/cassian, our stalwart analyst did the simple thing and phoned the company to find out what was going on. (I don't know why so many private investors don't do this more often - most companies are happy to talk to their shareholders.) Forsaken's call elicited the news that company results are due on 27th February and will include a list of all current investments. andren is fingers crossed that there will be some recovery by then. There is more detail on the Free BB in E CAPITAL A BARGAIN - INVESTORS CHRONICLE with Bobsworth posting up some of the more recent comment and cheve (ECI) has tried hard on both sides of the divide to get some discussion going. Maybe there are just too many guys out there nursing financial headaches to admit to having an interest in this one. With volumes rising and chatter around the various BB sites beginning to increase, maybe it is time to take another look. Having said that, if Investors Chronicle are tipping it, hmmmmmm! :=) The shares closed the week at 3p bid.
Despite an unrelenting flow of poor press, the Marks & Spencer share price saw a little glory early this week. Maybe it was rumours like those in mks.... what's the news? which was attracting new investment. I'm sticking with Debenhams as my retail play, especially as Arcadia Group's (AG.) recent progress is showing signs of getting low on gas. As though to prove the point, Friday saw MKS fall away 8p whilst the other two related shares mentioned here, posted small gains.
Rumours abounded this week that Psion were on the verge of issuing a profits warning. In PONdering the rise in Psion it showed very clearly that this is another of those shares to which investors become emotionally involved with - either long or short. mjl is definitely of the latter persuasion and found it hard to gain support for his views. cheve saw more upside in the current price level and DIANAKRAK tried to inject an element of fun into the proceedings (although I wish the shouting would stop!). stream saw the current indicators as "buy" and SpiceBoy agreed that long term prospects may be OK but it was currently a suitable target for shorting. Staying in the telecomms area, BT were also high on the shorters list of favourites - the only argument seeming to be how quickly they would hit 600p again. Bloody Boring shows the chartists at their best (or worst, depending on your point of view!). Limpsfield Chartist and Gausie were short from an early stage while charter troll wondered whether a spread bet might be a better option, given the current terms on offer from IG Index. alkrington raised some doubts as to the certainty of a fall, emphasising rather the recent bounce in price. bpoole thought the price had bottomed out but Luthor and hawkeye saw the bears in the ascendancy (if that isn't a contradiction in terms!). Limpy saw any break through 648p as indication of a quick dive. One of those occasions when it is imperative to watch each tick. Friday proved the bears right with a thud!
Martini dredged up CeNes (CEN) when many would have preferred it lay forgotten. Pippin and Cat were also watching closely as the MMs played games with the spread. Ostensibly, the share price rose following the announced results of the current state of clinical trials on their product set, but it was unconvincing. You can always pick up the company's viewpoint from their homepage
Auto Indemnity took a turn for the good late this week after a long slide into seeming oblivion. In AUT buys franchises, tightfist posted a well reasoned piece last weekend - enough to persuade JonC to add to his holding. Friday's repositioning by the MMs was interesting but the spread is now around 14% which seems a bit Dickensian. Be interesting to see if any significant volume emerges next week.
PROTEOME, stake your dna on it" (PRM) is still going strong. Despite a couple of set-backs, the general trend in share price still appears to be upwards. Solomon is certainly still bullish on prospects and Cat had an interesting chat with his broker which suggested that there are plenty of clients in the wings waiting to catch stock from any spooked sellers. cossie reported that they had been quoted on the Money Channel on Friday as 'a solid buy'. All the right noises. Now, let's see some action.
The Count sounded a bit like a kid who had found a Willie Wonka gold wrapper today as Jarvis sprang into renewed life. insideryou was quickly in with an optimistic bet with IG Index. I think the contributors here were more pleased that The Count was pleased than anything else. Steaming towards 300p, they could be a Mid250 contender yet. We'll never shut him up then! :=)
It is that time of the year again when The Taxman looms quickly into view and everyone begins to look for ways to minimise their exposure. Tax position on daytrading … CGT or income tax on profits? takes the slant that there is a subtle difference between investing and trading and that both are treated differently under current tax legislation. My own accountant seems very vague on the distinction as, I suspect, do many others. I did believe that this thread would expand further on the possibilities as it began in such a promising manner but it seems to have died the death. Some good stuff here from the likes of Joeboy which is certainly worth a look if you think you are going to be vulnerable to a big tax hit this year. Maybe it needs some input from Scripophilist who reckons he has found a "get-out" clause! Hope he reads this!
Cantab Pharmaceuticals has dragged itself off the floor since the Autumn (just about) and this week saw some unusual activity as reported in CTB RollerCoaster, with johnpison and Gerard J scratching their heads. moneyspyder was adamant that the rumoured takeover by Powderject was imminent - picked up by Rew1 too. The company said "in due course", of course (and didn't mention the other party by name). More "wait-and-see". Next week?
When Environmental polymers launched (from OFEX) it was more of a swallow dive with the price flying and falling equally quickly. Since then, the situation has improved a little - at least to the point where, as reported in environmental polymers... an opportunity, the company has shot up the Rampometer league and the share price has levelled out above the issue price. Biomax was distinctly negative but others, like wanabee were waiting for a re-entry point. morose was wishing he had stayed in Spain but ducatiman was still bullish and danski posted the story of what he sees as a heartening parallel experience. plumpton, petefirks and huwrayhenry are just waiting for the day.....
oneliner's almost solo attempt to keep Scotia Holdings afloat, floundered this week with news of their suspension. Part II...Oneliner's Book of Condolence for Scotia, please sign displayed all of the emotions investors go through when a favoured stock goes belly up. He isn't the only one to catch a cold but certainly placed a lot of faith in its possible recovery. Has the patient totally expired? There are still a few around who see possible escapes but I fear the hope is forlorn although I wish it could be otherwise. dmhzx, Maximillion and Yiyack3 were fairly philosopihcal about it but there was no sympathy from usedbook and little from Mr. Ashley James. There is still a tiny light at the end of the tunnel but I fear it glows weaker by the minute. For me this was always a "fly or die" situation. I lost a little here too, but there is always another opportunity just waiting around the corner, which I believe is what Ashley was trying to say in his own way.
This week's Poster of the Week prize goes to Romeo for dedication above and beyond the call. Since beginning Recognition Systems blasting off (RGS) in September 1999, he has left no stone unturned or site unvisited to search out relevant details on the company or its operational area. Whilst it hasn't been an easy ride for RGS, there are indications that better things may be on the horizon. Certainly, if anything is going to happen, Romeo will be one of the first to know about it and, I'm sure, will keep us all informed! Congratulations Romeo! If you will e-mail me a delivery address, I will see that your prize finds it way to you very soon. The ADVFN Who's Who is still growing steadily and is now a quite long list. All entries received to date have been included. If you haven't sent me your bio yet, please drop me a few lines about yourself - a full editing service is provided! No e-mail addresses are published unless specifically requested.
Meanwhile, in the Land of the Free.......
Good Hunting!