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over 10 suggesting the panic selling is over. I think a small rise is likely from here as the market digests the news and sees that minor progress is being made despite the normal problems. We can dismiss a leaky ship as the cause of last week's rise!

where buying makes sense and flattening out is probable. The oil is still there! A firm sell price has been available throughout. Someone is picking these shares up at these prices and is very happy to do so.

Hi Coffeecups, I am not thinking of selling on the spike - although I might sell a few and buy back if there is an opportunity. Neither am I expecting the full position to become clear in the next few weeks. What I am talking about is an RNS, or possibly a series of them as some others have suggested, which indicate some progress is being made. As others have explained, there is a good range of possible areas of news. I am aware that we may need 3 months to do a full test of the deeps. I also think that in March / April we are probably looking at the 14-20p range if some good news trickles in. I am thinking in terms of 30-40p in the second half of the year if all goes well.

... my feeling is that the market will put up with waiting for an RNS until Thursday. If there is nothing by then, there may be an adverse reaction. In the absence of an RNS, I am thinking a small rise into Monday and Tuesday, maybe up to 14, but then falling back a little if nothing is there on Wednesday morning.

Looser, the situation is a bit more complicated with CEY, as there is a long outstanding court case and and a delay in implementing a new investment law in Egypt. In addition there is the possibility of the development of new mines in West Africa. The upside of all these aspects of the company are probably positive, but you should probably read them up on the company's website. From your small number of posts I am guessing that you are a relatively new investor. CEY is a very good dividend share, but its value has swung between about 110 and 190 over the last year or so. It will probably rise into the ex-dividend date next week and then fall back a little thereafter because that is what most shares do, especially if the dividend is large. After that, it may go in either direction. You must decide if you are a short / medium term trader who attempts to benefit from the periodic swings in the share (quite difficult to do) or a long term holder who puts up with the variation in the share because of their belief in the long term prospects for the share. You may have bought at a relative high point in recent terms - and this is a difficulty in following pundits - they often give their advice to buy on shares that have already risen. This does not mean you should sell. I think it unlikely that CEY will fall below 130 and entirely possible that it will rise to 170 or more. I believe the long term prospects for this share are good, and a value above �2 will come at some stage. You have joined a discussion board which is very knowledgeable and honest (unlike many!) and I advise you to follow the discussion here which will deepen your knowledge of the share. I usually have this share in my portfolio, but I have currently don't, as I have put all my money in a speculation on another share. I will return some of my money here once that little venture is over. In the mean time good luck and welcome to the board.

Perhaps they don't want to make it look too obvious

Whoops, I mean "their next test of the deeps". You have to be very careful when you go in for pedantry

Hi coffeecups, I need to know that they are not going to foul up there next test of the deeps

Bobsfa, I am also unsure what will happen in the next RNS, given past form on this share. The only way to deal with it is to keep a close watch on movements. My personal view is that there is a buyer out there, partly because of the delayed / after hours large deals, and partly because of the way in which the effective spread (when I do a tentative buy / sell) has become extremely narrow on a couple of occasions which suggests the MMs are struggling to get the buyers for a large order in a narrow price range. Of course the large buyer(s) could also be in the process of being suckered in themselves, but it doesn't really feel like a pump and dump to me. I am therefore watching it closely, and may reduce my (very exposed) position if we make a little more progress. In the mean time any views would help us all to think this difficult situation through and come out with a profit

so bottoming out may be in process, around 12.5 I estimate, but perhaps a little lower. Wise buyers will be expecting the early drop and biding their time

in early trading. As with yesterday we will probably need to find a bottom which draws new buyers in. That may come a little lower than yesterday while we continue to wait for an RNS.

When I was born, the ratio of UK government debt to GDP was over 200%. It is now about 85% so my generation has done quite a good job of paying down this debt. It might be considered reasonable to pass some debt on to the next generation given what we inherited. We got the debt down to about 40% of GDP at the turn of the millenium under Gordon Brown. My problem with the supply siders is not that they create debt, but that they cut the contribution towards public services of the richest in society, often reducing the welfare contribution to the poorest

Its back to reagonomics but without the controls on the money supply. Expect spiralling US government debt,and US domestic inflation. The supply side economics is in conradiction with the strong dollar policy without a firm control on the money supply. The $pog will rise, whatever Kudlow says, but it may take a while for this outcome to feed through - may be a year. By the way, I have sold up CEY for the moment and gone chasing butterflies over on CASP. I hope to be back in a while and may look in from time to time GLA

into the close, but in general a good solid today with much less volatility than I expected.

The train will be leaving shortly from platform 9 3/4. Don't forget to bring your owls

on yer bike, yellow jersey

a negative spread on tentative sells and buys at the moment. That really shouldn't happen. It suggests MMs are having difficulty collecting shares for a large buy that will probably go through after hours.

i.e. the spread between buy and sell when you put in a tentative order, is now very narrow and has been for a little while. This sometimes indicates a break in the direction of travel which at present is upwards

Mr Cautious, you are well named, but the spread is now narrowing and the price does seem to be stabilising earlier than I thought likely. Volatility is likely to continue today I think, but once the price appears to be properly bottomed out, some new buyers may turn up.

Fully reversed on the buy, but still a very large spread down to the sell price. The MMs aren't properly convinced yet, but a good start.