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A bear on a Bear An extract from Evil Knievil's diaries on t1ps.com Today on UK-Analyst.com we bring an exclusive extract from the diaries of infamous bear raider, Evil Knievil taken from his popular thrice-weekly column on t1ps.com. Call the team now on 020 7562 3372 or join up securely at www.t1ps.com and get online right away and catch today's diary with 2 new shorts and a t1p for the Derby. 2nd June 2008: Natagora could not quite hang on in Paris. So that cost £20,000. I sold Western Canadian to close at 393p thus trousering close on £100,000 on the up swing. This may have been too early. Renesola's (SOLA) goose is, I think, cooked. Solar chips are moving into excess production. Although I am not increasing my short, it looks a terrific short at 590p. Island Gas (IGAS) seems to be going up. It is now 77p to buy. I am long. It looks to me as if Harriman House have come up with a real winner in Jeremy Clarkson's mother Shirley's book: Bearly Believable: My part in the Paddington Bear story. It is published on 23rd June and my reckoning arises from extracts in yesterday's Sunday Times. It is a huge hoot. The appointment of Baldy* to the post of chairman of the FSA gives me an opportunity to write to him to get something done about the non-stop rip off that is Britain's banks when handling one's forex dealings. I refuse to use my bank, HBOS, since they just rip me off. It means that I have to get brokers and others to make payments for me. This is extremely inefficient and is roughly comparable to being told by one's stockbroker that he'll do equities at market but gilts will be done with a hidden 2% spread in his favour. Have you got it, Baldy? *Some readers will know Baldy better as Lord Turner who when born was known as 'Ad'air. As readers know this column is absolutely expert on offshore African oil (so much so that the diarist will not let me explain the geological and technical challenges involved - they just take too long). However, Equator Exploration (EEL) came up trumps on Tuesday and is a hold. Following it should/may be ERHC Energy Inc. (ERHE.OB) at 60 US cents. ERHC is, seemingly, on its way to AIM. So punters should not be put off its OTC appearance in America. More follows. Nexus* (NXS) is a buy after its great news yesterday. I knew my pal Boris would deliver. Background counts. I had a bit of a natter with Jonathan Compton of Bedlam Asset Management who has correctly called this banking farce month by month. His main view is that the credit crunch has much further to go and that we are entering a prolonged economic downturn for some years. So I sold RBS (RBS) this morning at 250p and I yesterday sold Barclays (BARC) at 360p. This latter position strikes me as gilt-edged since Jonathan is confident that Barclays will have to have a rights issue if its Tier 1 ratio is to be adequate. As older readers may know there is an orderly queue to have a rights issue (it used to be supervised by the BoE - I do not know who does it now) so to avoid (say) all the banks seeking funding on the same day/week. However, if I were a director of Barclays (unlikely), I would be stressing to my colleagues that the time to get in the money is right now since it is not going to get any easier. Pursuit Dynamics (PDX) gets curiouser and curiouser. Regular readers will know that this company's capacity to blather for Britain is unsurpassed. You might therefore have thought that, once "their" famous fire suppression system was launched (the market has only been waiting a year past the original expected launch date), there would be the full blather from Pursuit. After all, its supporters think (how can they be so silly?) that this fire suppression advance is worth hundreds of pence per share. Given that attitude you might think that Pursuit would have detailed Ansul.com's NEW! AQUASONICtm Water-Atomizing Technology and, of course, the financial benefit to Pursuit. But not a peep has so far emerged from Pursuit. This may be because the "launch" was at a trade fair and lasted only 45 minutes tucked away at the back. Besides, there is still no declared commercial link between Pursuit and any of this. Until it is shown otherwise, I doubt if there is any patentable advantage accruing to Pursuit. Soon Mr Morley will have to sell. It is impossible to borrow any stock - so the current share price is simply self-levitation in action. * Nexus is a corporate client of Bishopsgate Communications which is owned by RSH the ultimate owner of this website. The t1ps SF fund owns shares in Nexus Yours sincerely Evil's idiot Diarist www.t1ps.com is edited by Tom Winnifrith. Members are guaranteed 20 hot new tips per year plus regular updates on those tips and over 6 years the average gain per tip on the site is over 68%. The site also features the Diaries of Evil Knievil exclusively 3 times per week - join now for Tom's newest hot tip at www.t1ps.com. |
