I bought Glencore (GLEN) again at 94.5p since the argument is unchanged. It all swings round rumours as to GLEN’s success at simple trading.
There is still no news of Pantheon (PANR)‘s mega discovery in East Texas. Be of good faith.
Although I still reckon Orosur (OMI) is a stonking buy at under 10p (it’s now 7.25p offer) I sold my long gold position at $1,197 last night on the basis of chart advice received. However, the underlying inevitability (as I see it) of carpet-bombing of paper money simply to bring government debt (here and abroad) under control means that it can only be a matter of time before I go long gold again. This time I shall be less modest.
English is really too precious a language for regulators to handle. Yesterday, I got from the FCA the term “complex instrument” instead of complex investment (the term used by Charles Stanley when causing me/my family grief – watch this space). To the FCA official who gets out of giving a proper answer to my enquiry, these two terms are the same. He’ll nonetheless retain his job. The FCA is dependent upon the ascendancy of idiocy.
Elsewhere, in today’s DMail I read that regulators are trying to crack down on market manipulation. It would be helpful if this could be defined. It can’t. Therefore a vast sum is to be spent on seeking to achieve the impossible.
Finally, over in the world of tennis, there is a move to find out about the incidence of rigged tennis matches. This latter is an intolerable corrupt practice and it is impossible to imagine that it is not. But, this morning, we learn that “court-siding” is a corrupt practice. For latecomers I explain court-siding: This is the practice of taping some transmitter to one’s leg (underneath one’s trousers) and broadcasting to one’s mates points scored as they happen. Even umpires have been paid by bookmakers to provide this results service. All this is alleged to be corrupt. It is of course nothing of the sort. It is merely an instance of someone doing something quicker than the others. This just conceivably may be contrary to the rules of tennis and those visiting tennis tournaments (I have no idea why) but it could not possibly be described as corrupt.