Member Info for Davius

Good quarterly figures out today. SP rose early on but has come back down. Added to watch list, broker target represents a near 50% increase over the current SP following recent weakness. "Dresdner Kleinwort said the "robust" set of Q1 numbers beat expectations convincingly, and it reiterated its 'buy' recommendation with a price target of 600 pence."

It's been a while since Renesola shares have been this low. In early April they rebounded from 426p, prior to that you have to go back to the start of the year. In the last six months they've underperformed the FTSE by over 20%. No news since the trading update a month ago, yet the shares are down 80p. It doesn't appear that anything is fundamentally wrong so have decided to buy back in this morning at 446.75p. Although it's possible that they will drift further, the share price graph demonstrates a tendency for regular rapid recoveries in the share price.

If the share price went to £2 then I'd make enough to clear my mortgage, so not sure if I'll risk it. I'm in at an average of 67p ish, so showing a hefty loss, but not as bad as some. It's all a question of how long to wait for the service contract. Anyone with any doubts as to whether they will get it shouldn't be in the share. I'm more content to hold since the phone call though, but Mr Mullins didn't give enough away to persuade me to pile in big time.

I had a lengthy conversation with Forum Energy today and to summarise, all is well and we should be seeing a service contract fairly soon. I posted a detailed assessment of the conversation on advfn, the posting is a bit long to fit on here...

Easy money for anyone brave enough. 50% profit and more here if you were prepared to risk everything. I think the rise just HAS to be down to shorts being closed, should have checked to see how many shares were on loan. Delisting tomorrow I believe. How many more shorters need to close I wonder? (No position, my balls aren't that big)

Interesting report there trigger. The last RNS from NEV was in June: Neville Porter PLC said it is currently trading at a "modest" loss and is unlikely to meet profit expectations for the seven months ending June 30. Where did this new info come from?

FTSE expected to open 140 points off, and DOW futures another 100 down right now. Another hard day on the markets coming, we all need some good news. IEC didn't drop below £9, and ended 3% off lows, which was ok. Looking for a jump back towards £10 before I get back in though.

I had an open position in CART too and did rather poorly. However, when a share falls so much you can get large chunks of your loss back if you're prepared to gamble. If you had say £3K in at 300p (1000 shares), then when they crashed to 52p you'd be down £2480. Another £3K buy at say 56p (5357 shares) could have been sold at 84p for a profit of £1.5K, overall loss of about £1K. It takes balls of steel to risk more losses in that way though. I did take a few small punts, a buy at 65.8p sold at 82p, another at 76p sold at 83p, another at 88p sold at 70p (ouch) and the latest at 55.8p sold at 62.6p. I think what happens from here depends on them sorting out the debt, if they can get the banks to agree a long term strategy that should secure the company, and they ought to be able to move ahead. There is still a risk of a complete collapse though, the debts are quite large, hence why I have no current position. A drop into the mid 50s might entice me back looking for a quick 10% but until the banks are sorted I don't want to hold long term.

It might feel like it's down but it isn't, not on the bid at least. Yesterday they closed at 10.75-11.25p with level 2 showing 1-1, i.e. just 1 market maker bidding 10.75p and 1 market maker offering 11.25p. Now it's at 10.75-11p but at 2-1, 2 MMS now bidding 10.75p and just EVO offering 11p, following a couple of buys. Buy limits are lower than sell limits too, so a couple more buys will see the SP tick up I suspect. The mid price may be off 1/8th but you can get 10.85p if you wanted to sell now. We tested 11p before and rose 2p a day or two later (on the 13th July). This is the first opportunity to buy at under 11p since the 22nd March. Only 2 takers so far, wish I had some spare funds.

Amstrad is being taken over by BSkyB in a £125m agreed bid. Alan Sugar will get around £35m for his stake.

Short positions closing is quite likely, it happened with ETL recently too, a sudden surge in the SP as delisting neared (in that case followed by an almost equal fall). The current BFC SP results in a market cap of under £1m for the existing shareholders. There's one buy on the system at 1.9p, another at 1.5p but the rest 1.25p and lower, so a serious fall to come if the existing buys get fulfilled. Sells from 2.2p and above. Of course, if there are lots of shorters left in and they are having trouble buying shares, the SP will rise further before its delisting. A huge gamble, delisting Thursday.

They primarily run an Italian Betting Franchise, so no real assets to speak of. The recent placing at 13p was to raise money for expansion, mainly into Romania. The shares were knocked back severely by the bad result caused by AC Milan winning the champions league in May. Since then they've had little support and subsequently drifted. The forecasts have a turnover of £94m this year with an EPS of 1.3p, rising to £152m next year and an EPS of 4p. If those targets were hit then the shares would have to be rerated. However, the damage done in May could restrict profits this year, and EPS of 1p or less is possible, but we should know more when they issue an update with the preliminaries in September. I hold these shares, at a loss, but have no plans to sell my holding, I think they will double or treble in the next 12 months. Not a traders stock by any means, but a good tuck away.

The DOW closed 300 down, that's still a turnaround of 100 points though. The FTSE is now showing about a 65 point opening fall tomorrow, here's hoping that other markets have a settling effect. I'm in very few stocks now, just 5 open positions at present, and despite 3 of the 5 looking weak I'm breathing a small sigh of relief. Possibly some bargains to be had in the coming days and weeks though, including IEC. I guess it all depends on whether this is a blip or the start of a more serious correction. Personally I can't see the markets dropping by a thousand points or anything so dramatic, but we could be in for some turbulent days.

The DOW looking horrendous at the moment, it's been off 400 points and still down 370 odd at the moment. The FTSE closed down over 200 and is currently showing as on target to open down another 100 in the morning (will probably change from that position overnight though). Despite bailing on lots of stocks, I'm beginning to wish I'd sold everything, could be another nasty hit all round tomorrow morning.

I've just been looking at the shares I've sold in the last month, and with the single exception of BAe, every other share price is lower than it was when I sold. I made some difficult decisions at the time, taking some uncomfortable losses as well as closing down the odd profit, but at least for now, hindsight tells me it was the correct decision. I'm sure that even in a difficult market there are profits to be made, but it's necessary to be very selective in these turbulent times. I have every confidence that IEC will come good eventually, but am not prepared to wait if the rebound comes from 900p or lower. The risk is that I miss any jump on good news, or even a takeover offer...

Have pulled out of many shares in the last few days, including selling IEC at 1017p (9% loss), SOLA at 526p (good profit), RPL at 33p (10% loss in a short time - ouch) and BA (profit). I'm concerned that the markets are not looking too good at present. Have bought more TAN at 172p though, as they look to have droped too much on an incorrect FT report. Regarding IEC, I'm not sure where this slide will stop but will be keeping a close eye on the company. At some point the Russian saga must come to an end and at that point they should be due a good rerating. My latest trade takes me into the red overall on IEC for the first time, but not by much. I feel it's sensible to remain a goodly part in cash at the moment, with an eye out for any opportunities that may present themselves. Just an opinion, please don't take it as advice.

They've been hammered since the poor result in May when they lost heavily on the champions league final. There has been plenty of speculation that this was a calculated decision by the company, as the hit will mean they don't have to make earn-out payments in respect of the Betshop takeover. That would mean that despite the loss they should be better off overall. Current turnover likely to be heading towards £100m and profits of perhaps £2m. The figures due in September for the 6 months to the end of June will be somewhere between a small loss and a small profit I think, but they should also offer a trading update indicating how they've done through the quiet summer months and into the start of the new Italian football season. EPS is forecast at 1.3p for the current year, making the P/E 8.7, falling to 2.8 next year on an EPS of 4p. If that target is hit the share price will inevitably rise, a typical sector P/E of 16 would value them at 64p. A little optimistic perhaps, but I would expect them to increase significantly over the next 12-24 months.

I see from the RNS that the reverse takeover of the property portfolio IS to go ahead. I would have thought they would open much higher, but they've had several placings to raise working capital, perhaps they are still seen as a risk.

Nice to see them relisted, but what a let down. All the talk of 1p and much higher, and they relist just below where they were suspended. I guess that means the large property transaction touted as a company maker hasn't gone ahead yet.

... We expect the conflict to be resolved. In our opinion, the ongoing dispute between Imperial Energy and the Ministry of Natural Resources could stoke volatility in the oil company’s share valuations. Imperial’s shares have shed 11% since May on the back of news about this conflict. Nonetheless, we believe that the company will eventually manage to settle the conflict and we reiterate our Speculative Buy recommendation on its shares. Based on its proven and probable reserves ratio, Imperial Energy trades at a 70% discount to petroleum peers ($1.40/bbl vs. the $4.40 average), which, in our opinion, is not justified given the progress Imperial Energy has made in its field development.