In discussions people were surprised at the potential of Circle Oil (COP) compared to its lack of share price performance. As such, one would be wise to reread my comments on Circle Oil in the comments section. Morning Mumble: Why I'm long Dixons Carphone (DC.) in the short-term & Oxus Plc (OXS), Gregg's & FML. This in addition to, the oil price and swelling of supply has not aided the company.
With hilarity, a Pig Iron (potential) producer (read as developer) (Ironveld) is mystified (Dr P Cox (twitter as below) why their price is tanking. They are not a victim of a misunderstanding but a tightly held stale bull stock that was ripe for shorting and selling down.
When Directors start to understand the market fully, they'll understand their share price performances. Ironveld is suffering by a double whammy, of sellers in SLP (Sylvania Platinum) and IRON. For those that know my views on SLP, and the board costs which are in my opinion unjustified in the present market and would enable the payment of a dividend, people have tired of the tomorrow. So with some promise to the stock now a lot of the shorts are closing (IRON), one awaits the news Re: Funding and Development. Perhaps the stale bulls can breathe a sigh of relief now.
It was positive for the Greggs (GRG) traders to embrace the common-sense approach to the last news and take some off the table, with a good level of consolidation. What will the run to Christmas bring?...Will my fluke commentary be validated? One certainly to watch / trade pending on your views of course.
Atb Fraser
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