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Clearly the post-results fall was owing to Bramson having a little fit and selling the remainder of his stake. Case closed.

Indeed, it is utterly baffling and yet, totally unsurprising.

Hard to see any barrier to 50p. I think we will be there next week.

Today’s closing price will be determined by the number of long-haul destinations that make it onto the travel green list later today. The U.S. will be the biggie, but Australia and NZ are looking promising too. If it’s good news, expect post-110p. If not, we are probably back to 100p.

Looks like a disappointing week for PPC. No doubt it will slide back to 2.1, whereupon the buying will start again.

The much vaunted commodities supercycle already appears to be upon us. Given it is predicted to last for several years, who knows how high the sp might go? We might be past £10 this time next year. I’ll hold, keep reaping the divi and review in a couple of years’ time.

What might be a good private equity offer for the company? Obviously the market thinks it’s somewhere north of 370p.

Yo-yoing.

If the sp wasn’t yo-going, then it wouldn’t be President Energy.

I might consider selling, if it hits £70, but I honestly think it could end up in the £75-£85 range, if the commodities super cycle continues to take hold.

It seems the Footsie is now ploughing its own furrow, buoyed by the success of the vaccine programme and is beginning to get its due for being ahead of the recovery curve.

Just as it did not budge during yesterday’s micro crash, the sp did not move with today’s rally. Investors seem clearly focused on the company’s updates.

A pretty good day for President, given today’s wobble across the rest of the market.

From Daily Telegraph 2 May 21

Oil and metal prices are poised to surge in coming months as Britain and the US launch a once-in-a-generation infrastructure spending spree and the global economy roars back to life.

Market strategists are bracing for the biggest jump in oil demand ever after drivers returned to the roads en masse. Crude is forecast to hit its highest level in three years, ultimately driving prices higher at the pump.

Meanwhile president Joe Biden is about to launch a $2 trillion (£1.5 trillion) programme to rebuild America’s crumbling roads and bridges, while in the UK Prime Minister Boris Johnson has talked about the need for a recovery led by investment in green energy.

Goldman Sachs has predicted a 14pc jump in commodity prices over the next six months, pushing a broad measure of metals and oil up to its highest level in more than six years.

It is important to maintain a sense of proportion. The Footsie is barely above where it was 20 years ago. Most Brexit uncertainty is behind us. COVID, for all its chaos, is a temporary (and once in a lifetime) aberration, whose economic costs will probably be dealt with like a war debt (ie long-term) and at historically low interest rates. Get back to me when the Footsie is in the 8000-9000 range. I might then be worried about the market overheating.

The 3.3% divi over 12 months, plus share buybacks, are not to be sniffed at. I think we shall see post-200p by the end of June.

Nearly 3 million volume today, which is good. Let’s hope the POO trend continues upward, even after today’s wobble. I don’t see much point in selling out after a few points gain. I might consider it at 8-10p though.

My average is 180p. I held right through the Covid crash, so I am used to rolling with the punches - 6% drop is a mere flesh wound. I bought Lloyds and HSBC while they were still in the gutter, so no complaints here.

Indeed, ownership of Capita shares by IIs continues to increase, which tends to show that the market is confident of long-term growth here. It certainly will not happen overnight, but I could easily see it somewhere in the 50-80p range this time next year. I am contemplating putting a few grand of money where my mouth is too.

Yes it is encouraging, but it is going to take a lot of progress and confidence to move the sp up in any significant and sustainable way. At present, a lot of holders seem to see any half decent uptick as an excuse to take the money and run.