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I support drug taking
An extract from the diaries of infamous
bear raider Evil Knievil
Today on UK-Analyst.com we bring you an
exclusive extract from the diary of infamous bear
raider Evil Knievil, taken from his popular
thrice-weekly column exclusive to t1ps.com
28 June 2010
Have you noticed the astonishing spread of the word
'iconic' over, I kid you not, the last month? It is the
fastest spread of an 'in' (or is that iconic?) word
that I can recall. It is possibly the case that the
internet turbo boosts the spread of vogue words.
I lost GBP3m shorting Connaught (CNT)
over some three years. When the CEO left last year I
reckoned that it was in trouble but the appointment of
Sir Roy Gardner as chairman caused me (God alone knows
why) to close my short. However, latish on Friday, out
came an RNS with this lot included:
"Connaught has carried out a detailed analysis of its
business in the lead up to and following the Emergency
Budget. The company has identified 31 contracts within
its Social Housing division where a proportion of the
value relating to capital expenditure has been
deferred. This will impact revenue by around GBP80m and
EBITA by GBP13m in the current financial
year......"
I do not know about you but this extract is meaningless
to me since I cannot infer what has gone on despite the
RNS being drafted by very highly paid "advisers" or
leeches as we know them. This means (to me at least)
that Connaught is again a sell. This time at 135p - or
down 180p in two days. I wonder what Sir Roy thinks. I
bet he wishes he had stuck to gardening.
I today belted out the rest of my Nautical
Petroleum (NPE) at 190p. But I continue to
hold Kryso (KYS) because of what I
suppose is the forthcoming bid and because today's
resources statement upgrade confirms Pakrut as a world
class mine in prospect.
I do not wish to be thought unpatriotic but England's
defeat yesterday could not have happened to a nastier
bunch of yobs. I have written to the German ambassador
to thank him for his country's good work at this time.
And would you not agree that Capello deserves a bonus
to have taken on this poisoned chalice in the first
place?
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2 July 2010
It has taken a long time to break but
PureCircle (PURE) keeps slip-sliding
away. Volume has not been huge. But I detect ennui
creeping in. And that can be fatal to a share price.
Now 237p and still a sell.
I bought 20,000 GW Pharmaceuticals
(GWP) at 105p. The case for Sativex, its
cannabis-derived drug, to alleviate the symptoms of
Multiple Sclerosis seems rock solid to me (diarists
note: derived from your deep understanding of the
complex medical science behind it EK?). But the medical
Home Office tyranny is not prepared to yield to the
prospect of others' (the sufferers') making up their
own minds. On those grounds alone, I vote
GW.
Yours sincerely
Evil's idiot Diarist
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