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Question, who are the shareprophet crew, and if they wanted to why couldn't they close their short positions as it seemed easy to buy on Friday.
Must admit, not sure I would be shorting this right now, need to pick on something in a crazy bubble, something like Lemonade when it's value was over $10b had to be the short of all time for anyone who knows anything about insurance.
Not sure what the SP does matters much until we have a decent RNS, but volatility is good for some small pickings if you want to do some sideline trading whilst waiting for the big one.
I'm doubling up my main stake but also messing around with some CFD's for 2-4p wins, or sitting on a loss if it drops for a while!
Make sure your main stake remains intact though as who knows when, or maybe if, this will happen.
CheshireUK, you are right, all I have done today so far is sell 50k on a CFD bet I had running which was just a buy the dip fun bet. I have set a bunch to buy at 20p, but only IG show up on level 2 with 97.5k so not sure why EQI does not appear. Will see how I get on today and then go for it after the AGM if nothing has happened by then.
Got rid of some banks though so ready to go.
I was chatting last week with a couple of very wealthy UK people (Times top 1,000 list) and they are very nervous about where the economy is actually going post the government handout's and supply shortages that now seem to be everywhere especially in construction. It is also a lot worse in the USA than the UK as I have been over there for most of the pandemic and it now seems like a years delay is common with over a 200% cost increase. I also think inflationary pressures are coming fast, and what happens in the USA will affect the UK. So these two people have been liquidating stocks etc, and holding cash with some gold.
So I have been pontificating over this over the weekend and been looking at my portfolio and I have a whole bunch of Metro Bank, 1/300th of it!, and a lot of LLoyds bank with some of this sitting in an ISA and a SIPP. Now I don't think banks are a place to be, although somehow I still think Metro could come good, or at least go up one day as it has a valuation that is so low that something might happen with it. Either one of the people I was talking to could buy it themselves!
So having read the Game on chain, I am going to sell most of my LLoyd's bank and buy another 1m TERN shares to double my holding as a long term play, which is not what I said at the end of last week, but everyone has a right to change their mind.
I do worry about the next cash call if it not offered to private investors because if it is that is not a problem and the company would be better for it. I remember TED tapping all investors at 75p, and hasn't that treated us all well, I'm keeping that with a £4 target which is 80% of the undiluted £20m value before the pandemic and it is nearly half way there already. TERN would do the same but it never seems to offer individual share holders the chance to participate and then only give outside investors the shares that don't get subscribed for.
All in all, lets hope for a good week ahead.
I have also started day trading this today buying on the drop. I have my allocation tucked away awaiting the big pay day, but it seems to me an opportunity missed not playing the down swings.
Unless it keeps going down for a while! but then I will have even more in my pot for the eventual rise.
I get worse as I have 3.2m of RDGE and 4m of Supply@Me, all awaiting some action sometime. I seem to have a right collection of things right now, but I never sell a loser, just sit on them, which I know is bad but my day trading type stuff has been running so well I can just leave these and not worry about them.
Theosus, any nice tips for me on what you think is good right now? I have been off loading up on TERN and Agronomics both of which I think will be good long term and they both went up 300% or so over the last couple of months. Also probably going to go on Argoblockchain if it drops below 100 and trade the swings.
I'm nervous about a new capital raise, I just cannot see why this keeps on dropping when the rates on a lot of their classes are dramatically rising. This should not be going down, so someone knows something I don't. Cyber is problematic, but rates are up 30% or so, this should now be ok. Having said this their most profitable account used to be marine and now their lead underwriter, Clive Washbourn has set up a new business to compete with them, and he should win that battle.