It really is this simple. Even if you, dear reader, are national chairman of Attila The Hun is Tops party you can contact the Labour party and, for just £3, join the Labour party and therefore vote in the Labour leader competition. You then vote for Jeremy Corbyn and, BINGO, the Labour party is out of office for the next twenty years. Crafty or what!
Those who happen to think that this A1 fully-paid-up lunatic will emerge as Leader can simply bet against him on Betfair. Corbyn is currently around 3/1 against. Strange but true.
Gate Ventures (GATE) have this morning formally recognised their hopeless position in the matter of AIM listing. At least one broker has telephoned a short seller to advise that unless he delivers stock today he’ll be bought in. This is of course pure phooey. And very probably mendacious with it.
The position in law is that where a stock is not quoted it cannot be bought in in terms of the LSE’s rules. Put another way, the buying in rules fall away. The buyer can now sue the seller for damages arising through non-delivery. And having bought at 200p it will be very hard for the buyer to claim that any damages either have arisen or can arise.
Of course the shorts have yet to cover. This will take time. My local representative in HK, Mr Ying Tong Niddle Nai Poo, will shortly be knocking on the door of the fraudsters world HQ. I’ll keep you informed.
I closed my short of Tungsten (TUNG) at 88p yesterday. This was premature. But, every now and then, one has to give a little back.
Proxama (PROX) have this morning announced a £100,000 contract win. Perhaps they do hold their own against Apple (AAPL on Nasdaq) whose results last night met with a sotto voce response and an 8% decline in the share price.
Finally, it is time to sell USD/JPY at 123.75. Or so I interpret the chairman’s forex service.