In another example of the FSA flexing its muscles and applying the full weight of the law upon the pond-life that are City insiders, it is pleasing to see 3 former Directors of the CFD trading house given jail sentences today. They were found guilty of breaking section 52 of the Criminal Justice Act 1993. James…
Comrades, following the disappointing abstentions by the 2 major shareholders at Monday’s EGM which resulted in the sanctioning of the sale of Plus SX to ICap, it is important not to lose sight of the primary issue that now faces us, namely the complete sweeping into the street of Messrs Basing, Theret and the seemingly…
Chariot Oil and Gas has spurted 15% higher to 99p on plenty of rumours of stake building and even a potential take over. No news for some time yet from its next drill. Plenty of volume at over 3 million traded which is somewhat outsized per the chart below. Interesting!
Cash prices 6th resistance 1415 Previous high 5th resistance 1404 Resistance line 4th resistance 1379 Previous support line 3rd resistance 1358 61.8% Fib retracement 2nd resistance 1358 Previous support 1st resistance 1348 Yesterday’s high 1st support 1334 Yesterday’s low 2nd support 1315 55-90min moving average 3rd support 1311 Support line 4th support 1292 200-day moving…
Cash prices 6th resistance 5820 Previous high 5th resistance 5665 Previous resistance line 4th resistance 5603 61.8% Fib retracement 3rd resistance 5576 April 11 low 2nd resistance 5570 200-day moving average 1st resistance 5555 Yesterday’s high 1st support 5461 Yesterday’s low 2nd support 5455 Support line 3rd support 5442 55-90min moving average 4th support 5285…
Nokia’s latest profit warning last week and attendant announcement of massive layoffs are raising an important question in the stock market: Just how much is the cellphone company’s business really worth? Some analysts are indeed thinking the unthinkable and now looking to value Nokia not as a going concern but simply on the value of…
UPDATE (2) – Shocker! Amari Dhari abstained. Resolutions passed in favour of the deal – 63% in favour. A closer look at the votes cast shows a strong No vote by the retail holder – some 49m shares – including S Chapman and myself that means nearly 30m shares voted against. When we said we…
The pro austerity, centre right, New Democracy party narrowly gained a majority following yesterday’s Greek election sending Asian markets higher overnight. The party was showing a 29.7% share of the vote versus 26.9% for the left wing, anti-austerity Syriza party. So a relief rally is on the cards. FTSE 100 futures are up 40 points…
The diagram above charts what is called the Buy To Open Put Call ratio in the US – which is a measure of pessimism and is thus interpreted on a contrarian basis, ie the higher it is the more bearish people are. This therefore means there is potential fuel for a rally. Looking at above,…
Treasury bond yields which continued to fall to record lows in early June have begun to turn up in recent days as we can see from the chart below. Falling bond yields are of course symptomatic of economic weakness. The chart below compares the yield on the 10-Year T-Note (green bars) to the S&P 500…
