Hopefully tomorrow the glut in cheap food and their surpluses...Feed Grains, Soya and Milk (Chinese over supply limited demand). This depends on a number of factors but may have to be put back to another day (read as never judging by past performance). There's likely to be some global intolerance both for gluten and lactose (poor I know).
Oil's bounced with par trading between Brent and WTI, the game of chess is afoot. One would be wise to consider longs as higher risk but with significant reward if one catches the knife correctly. Significant interest in 2015 December Brent Futures circa $57.20/bbl. Floating storage? Oil to Asia, components and exports to America and Europe whilst the routes are cheap.
Today it was rude not to sell Bowleven (BLVN) and Greggs (GRG), whether this over time proves right, its something that I don't look over my shoulder at but will review. Having ridden the wave and made an paltry profit on the long BLVN trades I have little patience for it in the current climate. Greggs's only justification is on the news...
We should spend a moment in silence for those copper traders in denials about the price with limited time left before their positions need a resolution! A key price was hit today.
Very long day, Atb Fraser
Fraser- Hi- nice call re VED- that debt mountain is Everestian and so the only support given the collapse in prices of its products re Mr Agarwal and his plans for the free float 30%, but no real reasons for him to move now unless he knows something re commodities we don't.
ReplyDeleteRe Copper- yes, $2.50 breached overnight and some dark mutterings that $1.27 is the next "support" level, which would probably make all bar a couple of copper miners loss making. Still if it follows the slippery oil path, any other calls for a floor given the global slowdown and supply/demand imbalances- Dr Copper needs a bit of growth to turn things around and perhaps some European QE medicine before the end of the week too.
Re GAME Digital (now to be confused with GAME, who went bust because they shredded their margins and went down in a blaze of debt and closures) So what are GAME Digital up to- the old tricks die hard as they decide to shred margin on Black Friday and their customers stock up on low margin gear and then guess what... they don't need to buy for Xmas at full price... who would have thought that... Its clear that an injection of brain cells is needed to the mgmt. here. Perhaps Baldrick is on the board as their cunning plan has failed so far...
Cheers. The Leggie