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Shooting from the hip - topical, informed and opinionated posts each & every day!


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Zak Mir discusses the FTSE 100, Fitbug, Union Jack Oil & Gas, Ilika, Tesco and Rio Tinto on TipTV




Zak Mir Video Blog On Bulletin Board Heroes: Frontera Resources, Roxi Petroleum, Union Jack Oil


Spreadbet Magazine editor Zak Mir takes a look at the technical position of some of the bulletin board stocks of the moment amongst private investors.

Here are the key points from today’s video:

Frontera Resources (FRR):

The latest recovery attempt comes after bear trap rebound from below 0.6p.

The bull flag breakout through the initial December resistance and above the 200 day moving average at 0.76p.

A return to the post October resistance through 1p looks to be on the cards while the 200 day moving average is held.

Roxi Petroleum (RXP):

Roxi Petroleum shares have enjoyed a bear trap rebound from below the 7.8p level. Above the 10 day moving average at 7.57p we can assume a bull flag consolidation is taking place.

The latest break recovery attempt could point Roxi Petroleum shares back towards the initial November 12p gap top over the next 2-3 weeks.

Only sustained price action above the November gap at 12p would fully light up the prospect of a bullish revival for the stock.

Union Jack Oil (UJO):

There has been a sharp breakdown for shares of Union Jack Oil within a June descending triangle, following the loss of the 200 day moving average now at 0.2p in October.

The latest price action breaks the 2014 triangle and suggests intermediate recovery.

Above the former October 0.16p floor, Union Jack Oil shares could return to the post November resistance at 0.25p plus over the next 2-4 weeks.


The Morning News Update with British American Tobacco, Serco and Blinkx

FTSE 100

British American Tobacco (BATS) - subsidiary Imperial Tobacco Canada has reached an agreement in principle with The Flintkote Company - a U.S. company formerly engaged in the production and sale of asbestos-containing products - for a total of US $575 million for claims related to certain disputed dividends and existing and potential asbestos claims.

Smiths Group (SMIN) - Philip Bowman has given early notification of his intention to retire as Group Chief Executive on 31st December 2015

FTSE 250

Keller (KLR) - expects that the full year results will be in line with current market expectations.

Serco (SRP) - the City of London Police that it has concluded its investigation into the Prisoner Escort & Custody Services (PECS) contract. There was no evidence to support bringing charges against staff or Serco. 

Berensen (BRSN) - Since the Interim Management Statement of 31st October the group has traded in line with expectations.

Small caps

Orosur Mining (OMI) - reports gold production of $12,854 ounces for the quarter to November, remains on track to deliver full year guidance of 50,000 – 55,000 oz at a cash operating cost of $850 - $950/oz.

Accumuli (ACM) - has acquired the entire issued share capital of RandomStorm Limited for net cash consideration of £8.9 million. RandomStorm is a UK based integrated information security specialist. 

Progility (PGY) - has agreed to acquire Unify Enterprise Communications Private Limited for a total consideration of €1 million in cash from the Unify Group. Unify India is a systems integrator and independent solution provider specialising in communications infrastructure, applications and services for enterprise customers.

Blinkx (BLNX) - has entered into an agreement to acquire AdKarma, a leading video supply side platform, for an initial consideration of $15m in cash plus an additional $5m in cash or stock at the company’s option.


Zak Mir Video Blog On Bulletin Board Heroes: Aminex, Rose Petroleum, Solo Oil



Spreadbet Magazine editor Zak Mir takes a look at the technical position of some of the bulletin board stocks of the moment amongst private investors.

Here are the key points from today’s video:

Aminex (AEX):

After a vertical push through the 200 day moving average in September, now at 1.3p, Aminex shares have consolidated within a rising trend channel based towards 1.5p.

The latest price action could mean a move towards the September resistance zone at 3p plus.

The stop loss at this point is seen as being the 50 day moving average at 1.95p on an end of day close basis.

Rose Petroleum (ROSE):

Shares of Rose Petroleum have delivered a double bear trap rebound from below the former June support at 1.5p.

The best way forward now is probably to look to buy into any weakness towards the June floor.

Only cautious traders would wait on a clearance of the 20 day moving average at 1.83p on an end of day close basis before targeting the 200 day moving average at 2.32p over the next 2-3 weeks.

Solo Oil (SOLO):

We have an unfilled gap to the upside in the wake of this month’s bear trap rebound from below the 200 day moving average at 0.42p.

While above the 200 day moving average the upside could be towards the main 1p plus 2014 resistance over the next 4-6 weeks.

An end of day close back above the 50 day moving average at 0.6p is the buy trigger for cautious traders.


The morning news update with AstraZeneca, Hansteen Holdings and Chaarat Gold

FTSE 100

London Stock Exchange (LSE) - announces good year-on-year increases in activity across all main businesses for the 11 months to November.

AstraZeneca (AZN) - the European Commission has granted Marketing Authorisation for Lynparza™ (olaparib) capsules (400mg twice daily) as the first therapy for the maintenance treatment of adult patients with platinum-sensitive relapsed BRCA-mutated (germline and/or somatic) high grade serous epithelial ovarian, fallopian tube, or primary peritoneal cancer who are in complete response or partial response to platinum-based chemotherapy.

FTSE 250

Galliford Try (GFRD) - has been successfully appointed to the MoD’s Next Generation Estates Contract (NGEC) Framework for Capital Works Projects in Scotland. The four year framework is worth up to £250 million for projects with individual values of up to £12 million, and is extendable for a further three years. 

Hansteen Holdings (HSTN) - has completed the sale of eleven UK assets from the Ashtenne Industrial Fund , in which it has a 36.7% interest, for a combined price of £43.9 million, in three separate transactions. 

Riverstone Energy (RSE) -  announces an incremental commitment and investment in Castex Energy of approximately $150 million, comprised of approximately $100 million from Riverstone Global Energy and Power Fund V and approximately $50 million from Riverstone Energy Limited.

Small caps

SnackTime (SNAK) - EBITDA down by 21% to £0.4 million in the six months to September.

Chaarat Gold (CGH) - raises $5 million at a price of 15p per share, will enable the company to carry out the work needed to satisfy all the Kyrgyz regulatory requirements to secure construction permits for the Chaarat Project.

Brady (BRY) - two new customers have selected Brady solutions to support their business operations across the metals and energy space.

Real Good Food (RGD) - posts an EBITDA loss of £2.98 million for the six months to September.