Thursday, June 15, 2006
Dodger is back
Right, I'm at home this morning waiting for a delivery.
Did I say? I bought more SOCO at 1070p just after their most recent drilling disappointment. The market has been complete carnage for the last month! Investors in the US and UK have pretty much seen all their gains of the year so far wiped out in the space of a month.
Markets typically fall much faster than they rise.
I've suffered from seeing declines at Fayrewood, Chaucer and SOCO. Miraculously, Invox has not fallen further, probably signifying that all the weak holders have since exited. It's on a knife edge that company and really could go either way.
Today's news will come from SOCO, who are holding their AGM. Market is expecting something positive from SOCO, the shares have advanced this morning to 1240p.
Finally, their is my Rightmove short. The property website business is doing really well but is close to reaching saturation in the UK. The plan for further growth comes from Home Information Packs (HIPs), which government legislation is going to make compulsory in June 2007. I think there are several risks to this proposition, not least that this is an unpopular piece of legislation from a weakening government who might simply decide the scheme is a vote loser and bin it? There are numerous other risks to the plans, not least huge industry opposition from mortgage brokers, lenders and estate agents. Almost every day new stories appear with organistions labelling the plans 'chaos' or some such.
My Rightmove short is currently making me money, but not a lot. That could change overnight, should the government yield and decide to make HIPs voluntary, delay the scheme or bin them altogether. Google News is a good place to search for tidbits and tittle-tattle on HIPs.
Market movements have been harsh. I'm at least 10% down so far this year. 2006 will be difficult to save.
The Artful Dodger
Did I say? I bought more SOCO at 1070p just after their most recent drilling disappointment. The market has been complete carnage for the last month! Investors in the US and UK have pretty much seen all their gains of the year so far wiped out in the space of a month.
Markets typically fall much faster than they rise.
I've suffered from seeing declines at Fayrewood, Chaucer and SOCO. Miraculously, Invox has not fallen further, probably signifying that all the weak holders have since exited. It's on a knife edge that company and really could go either way.
Today's news will come from SOCO, who are holding their AGM. Market is expecting something positive from SOCO, the shares have advanced this morning to 1240p.
Finally, their is my Rightmove short. The property website business is doing really well but is close to reaching saturation in the UK. The plan for further growth comes from Home Information Packs (HIPs), which government legislation is going to make compulsory in June 2007. I think there are several risks to this proposition, not least that this is an unpopular piece of legislation from a weakening government who might simply decide the scheme is a vote loser and bin it? There are numerous other risks to the plans, not least huge industry opposition from mortgage brokers, lenders and estate agents. Almost every day new stories appear with organistions labelling the plans 'chaos' or some such.
My Rightmove short is currently making me money, but not a lot. That could change overnight, should the government yield and decide to make HIPs voluntary, delay the scheme or bin them altogether. Google News is a good place to search for tidbits and tittle-tattle on HIPs.
Market movements have been harsh. I'm at least 10% down so far this year. 2006 will be difficult to save.
The Artful Dodger
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