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Hello Crazy Folk (or as they say in Germany, Crazy Folken),
Have you noticed how some shares are really boring?
Fortune Oil (FTO.L) is one of these. It had a nice spurt a few years ago. And since then it has been defeated by the 7p barrier. Every time it creeps ever so slowly up to that level, it drops away again. And the whole snail-like process starts up again.
It's near the 7p mark now - after a long wait. But will it breach it? Not on past form, it won't. Yet if it does, you can expect another goodly spurt until the next barrier - 10p, say. Or perhaps it will just crawl back down again.
Anyway, I got rid of mine many months ago. And I got for them what they're valued at now.
What's so surprising about Fortune Oil being a boring share? Well, on the face of it, it has everything going for it. The black stuff is getting rarer. This black stuff comes from China where it is sold. Isn't everyone in China swapping bikes for cars now?
And yet Fortune Oil stays stuck in the mud. Not that it's the only boring share. There are hundreds like it. I try and avoid boring shares - they don't make money for a pro punter like me. And I need an income to live on. Rock on!
To find out more about Malcolm CLICK HERE
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