The Evil Diaries: Dialight, Blinkx, Beximco and Oxus

Dialight (DIA) is more closely publicly understood by Matthew Earl and his lordshiptradingblogspot than I. But he is surely right in pointing out to me this morning, as he has, that it is hard to take seriously the forecasting ability of a company that posits how things will be two years hence when it cannot even forecast the next three months. I sold this morning at 530p.

Matthew thinks the immediate target is 300p and it seems reasonable to aim for lower than that. It is hard to borrow stock.

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Blinkx (BLNX)‘s share price’s saving grace is the declaration of support by the Welshman, Richard Giffiths – whom, as it happens, I first encountered about twenty years ago and whom I respect. But I am quite unable to grasp why it should stand above 15p. So I maintain my short. Now 25p.

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Beximco Pharma (BXP) this morning offers its third quarter’s figure – i.e. nine months ended 30th September 2015. They are very respectable. The profit is 3.70 taka. This translates to 3.1p which supports the expectation of 4.2p for the full year. Given the current share price of 21p, this reprsents a PE ratio of 5 and falling. This is hardly demanding. Even after stripping out intangibles the Dhaka price is largely covered by tangible net assets. The price this morning in Dhaka is around 59p. The yield on the London GDRs remains of the order of 5% p.a. What is not to like? And then of course there is the buying in of the London end’s capital by Dhaka…

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Finally, I bought more Oxus (OXS) yesterday – this time at 3.96p. The bet is that we really are about to receive the arbitral award of gorillions. If shareholders do receive this the share price will truly rocket – perhaps way past 10p. Of course the Uzbeks will try to wriggle out of paying. But even so the price will surely hold up.