Evil Knievil: Palm oil futures
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In the past three weeks the price of Palm Oil has jumped $100 to touch $590 and is now $570. This makes a huge difference to the outlook at REA (LON:RE.). So this is surely the time to buy REA aggressively. Now 135p offer.
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I had assumed that Watchstone (LON:WTG) had merely to withstand the shin-kicks of an intemperate child, Slater and Gordon (S and G). But yesterday the High Court in London upheld the idea of WTG’s counterclaim of £63.5m. I do not know whether S and G will have the cash to pay up should this counterclaim be successful. But it surely strengthens WTG’s position. Still only 75p to buy.
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I toyed with the idea of putting it to the chairman that a purchase of Bury football club would be a suave move. But I am fairly glad that I did not press this notion since I suspect that the lucky buyer from the liquidator will have to put up a lot of cash on top of anything necessary to get the FA to readmit Bury.
The fact is the any profits in football start with the need to develop an entertainment brand. And Bury is a long way from that nirvana.
How do you go long GBP to USD ?
I’m assuming the big bounce in REA stock was primarily down to you Simon.
I got in sub 100 having followed it down from the 600’s so the next couple of weeks will be interesting which takes in the interims. Good to have you aboard sir.