So the Americans came back off holiday. Most news out today was as expected or a little better up until 3pm when we had the ISM Non-Manufacturing PMI which came in under expectations. I was watching the Dollar Index on FXCM as it was not looking very Bearish, which is what I wanted to see.…
Our fellow blogger – Contrarian UK has spelt out the case on Xcite Energy on numerous occassions in our blog and we have also written about the company in previous editions of our magazine. Aside from the fundamental backdrop, our traders gut tells us that the downside here is far, far less than the potential…
Another day, another bout of stimulus into the UK, European and Chinese economies. The Bank of England today announced a £50 billion increase in quantitative easing (QE) to £375 billion and it left interest rates at a record low 0.5%, a level maintained since 2009. The BOE will continue to buy more Treasury bonds…
When the British economy fell back into a recession at the end of last year, Ryan Hall, 24, lost his job, his home and the means to feed his family. His employer, a retail company, first reduced his hours and then eliminated his job altogether. No longer able to pay the rent, he was forced to seek emergency…
A tale of two CEO’s Another scandal and another disgraced CEO has been forced out of a job but Barclays’ former top man Bob Diamond will not be worried about being unemployed. Although he was in the hot seat for just 18 months, Bob Diamond’s earnings over the last 5 years totaled a staggering £120 million…
With the US closed for Independence Day financial markets were quiet yesterday. Most of the European bourses closed slightly lower after a quiet day of wafer-thin trading. Some weak data releases highlighted some of the fears regarding the headwinds facing the global recovery, but this is having the effect of boosting expectations of further central bank…
The following piece from Seeking Alpha caught my eye. Although patently the author is long the stock and perhaps some of his rationale is skewed, the net breakdown of valuation large mirrors our assessment at SBM. Take a look and form your opinion. Remembering the investment adage – “the value is created in the buying”…
After months of waiting it looks like Xcite Energy share holders can finally look forward to some of the black stuff from the Rowan Norway rig on the Bentley North Sea field in the next few days (be nice for some blue stuff from the share price too!). The 9/3b-7 well was spudded on the 18…
Wasn’t too bad a day today, my trades have all basically paused while the USA are on holiday.Luckily the US doesn’t take that many holidays or this could make trading really boring! The UK sold off a little but didn’t really penetrate any major support. Meanwhile, I am keeping my eye on Gulf Keystone as…
The big overnight move was in oil which rallied close to 5% on the back of rising tensions in Iran – and a military build up by the US in the Strait of Hormuz – along with stronger factory orders in the US. An army general in Iran was reported as saying the country wouldn’t…
