Bulls claim to be delighted. Having issued a shocking profits warning on June 21, IQE has served up half year numbers which reconfirm full year guidance. There is no follow up profits warning. Well not yet. But bears have real reasons for cheer. Having stated in June that it could operate within its existing £27 million overdraft into Q1 2020, we see today that the company has secured an additional £30 million asset financing (expensive debt). Ok, no bailout placing pro tem but a sign that cash continues to be burned.
In today's (long) bearcast I look at Burford (BUR) asking questions of bulls and bears, at Thomas Cook (TCG), surely a slam dunk short at 8p, at Cabot Energy (TOAST), ADM Energy (ADME) and finally at Seedrs where the PR bird is trying to bully me into publishing a falsehood. She is picking on the wrong man. maybe she confuses me with the spineless financial illiterates and PR cocksuckers at the deadwood press?
Having demanded we bring back this contest, once again Juicin Drumroll fails to win with his nomination. Come on Juicin, we are doing this for you, please try harder. This week's winner of a semi naked photo of Britain's top share blogger, before lunchtime, Thirsty Paul Scott, is Daniel Victor. You can see all the entries HERE but Daniel's winning entry, from twitter, is from a Tesla loon:
So Carillion (CLLN) has gone tits up. You do rather feel for its 19,500 employees but as folks work out what happens next there is an orgy of recriminations. What lessons do you learn?
Oh how the Lucian Miers baiters were having fun a couple of days ago as UK Oil & Gas (UKOG) shares hit 11p. The Bulletin Boards were full of folks gloating about impending poverty for Lucian and for bears such as Waseem Shakoor. The biggest morons were adding to their holdings as they talked of ever more fanciful targets. Oh dear, as wre speak it is those who averaged up who are now hurting and hurting badly. The shares are just 6p-6.15p.
In this video from Jordan Roy Byrne, Palisade Capital covers Gold and Silver and where they could go over the very short and medium term. It also covers gold stocks which are trending lower slowly but remain in a massive multi-year bottoming process. Overall the picture is one that will make the bears not the bulls happy bunnies.
Hmm..I guess buying the dip is not working so well right now is it? For those crazy bulls who don't care about fundamentals and valuations here is your trading strategy explained
Commenting on the recent quarterly trading statement from online 'fast fashion' retailer ASOS plc (ASC), I concluded that it did little to improve my sceptical view on the valuation – which has been more bearish than what has seemed to be the consensus broker view. The following updates on the broker reaction to the trading update.
Online 'fast fashion' retailer ASOS plc (ASC) has updated on its quarter ended 30th November 2014 – emphasising that a “strong UK performance continued”, though admitting that “international trading conditions remain challenging”. The following updates.
Afer two weeks of globe-trotting Financial Orbit is back and a scan of the macro signals from around the world should give bears, rather than bulls cause for celebration. There is the odd bull opportunity but on balance it does not look so good.
This week's edition of Financial Orbit looks at what the Dutch and the IMF are telling us and flags up just how grotesque is the scale of corporate profitability that will be haced away in coming years. And it makes grim reading for the bulls.
Financial Orbit is one year old - congratulatons to Chris Bailey. This week's edition makes fascinating reading - the 2014/2000 comparisons and clear signals for the world economy from Sweden (yes really) are fascinating. And make grim reading for the bulls.
This week’s issue of Financial Orbit by Chris Bailey explians the Portugal issue and looks at consumer debt and then finds a few more reasons why the bulls should be scared.
This morning I published the following article and incorrectly referred to the latest data in the Commitment of Traders (CoT) report as being up to May 6th. In fact the latest data goes to May 13th. I've edited the piece below, but broadly my argument still stands. I've made appropriate corrections and thank a devoted, almost obsessive, reader in the North for alerting us;