SBM NOKIA TRADING BUY CLOSED @ $2.37 FOR An almost 50% UNGEARED RETURN IN 2 WEEKS

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In another example of how you should (nearly) always lean against the crowd at the very end of an extreme move, our Trading Buy call on Nokia on the 18th Jul 2012 going into the 2Q results has been closed today for a very useful 70c (almost a 50% – even without gearing – return). See chart below for the results of this trade.

We still think there is immense value in the stock and that a price nearer to $5 is appropriate but returns of the magnitude that have been on offer should ALWAYS be banked – the market is rarely that kind. The ‘reason’ for the large pop today is the revelation that senior management of Nokia purchased 1m shares in the company last week. “The purchases underscore the board and our leaders commitment to Nokia and confidence in our future,” Nokia spokeswoman Susan Sheehan said. Nice to see them putting their money where there mouth is!

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Editor

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