Our long GBP/AUD trade is playing out nicely and is at a fresh daily high. We exited half our position that was entered into in 2 tranches (at an average of 1.4860) at 1.5020 but are running the balance. We raise our stop today to 1.5040 – just below the 3 day exponential moving average…
While the Dow and S&P500 eased back yesterday on low volumes, the Nasdaq’s intraday high of 2,799.84 was the highest level since December 2000. It looks like the US indices are now encountering resistance following 6 weeks of consecutive gains and some weakness near term looks to be on the cards, particularly as traders return from…
Yesterday morning Red Emperor Resources requested a temporary suspension of trading in its shares on AIM pending an announcement in relation to a drilling update on the Shabeel North well. Red Emperor’s partner in Puntland (Somalia) – Range Resources, issued a statement later in the morning that “Range wishes to advise that final downhole logging is currently…
Here’s the 10 day chart for XEL. Where volume goes, price invariably does… We have a clear breakout on the chart from the long down trend in place since February and the technicals indicate a move to 120p. Our fellow blogger Contrarian Investor UK has opined on possible reasons in his blogs this week. Ours…
UK Corporate Announcements Derwent London announces H1 revenues of £63.2m from £63.5m and a pre-tax profit of £26.5m and saw property values up 3.3% Carrillion announces an H1 pre-tax profit of £64.1m on revenues of £2.156bn and expects to report full year trading in line with the forecasts as it has 92% 2012 revenue visibility…
After a good day yesterday, Xcite Energy shares were languishing for most of the day, until an RNS late in the afternoon that the third and final stage of its private placing with Global Resource Funding Partners LLC had been completed. The shares closed up 1p at 85p. The third stage, issued 12,000,000 units (share…
UPDATE – 200p hit. About Time. Another 200p to go and we might get excited. Heritage announced the surprise sale this morning of 26% of its stake in the key Kurdistan Miran block for some $156m and which, including the provision of an additional loan by Genel Energy of $294m, values the block at $450m (around…
FTSE Daily chart, Candle The technical situation on the FTSE has not changed greatly in the past couple of weeks, as the index remains within the near term trading range, red region, that we have been monitoring for a few weeks now. On the Daily graph we have kept the near term trading range, red…
For more research & Technical Analysis from Cantor Index click here to register. UK Corporate Announcements Glencore details that it continues to diligently look to its own growth pipeline as it details H1 sales of $108bn ahead of forecasts of around $95bn seen Persimmon announces an H1 net profit of £68.4m from £77.5m on revenues of £806m…
UPDATE – Right on the turn we seem to have caught it. We are working a stop on this at breakeven now at $4.62 We have just gone long Groupon @ $4.62 reasoning that the sell off of over 60% in the last weeks is nearer the end than the beginning. Coupled with an increasingly…
