Monday, October 15, 2007

Crazy weekend!

Well, the WSE review has certainly kicked in as the market was awash with announcements over the weekend.
Delistings of (PMI), (PGI), newcomer (ENL), a trading halt on (LDI) and halt lifting of (TMA).
Strong (KJL) announced that the company would suffer a loss for the month of October due to VAT. (AMI) has posted a resolution to sell the Millionaire Mall. (TMA) board has elected a new CEO and provided a roadmap for the future of the company.
The market saw some obvious movements today with (MGF-57%), (THI-12%), (TMA13%)

  • Midas Group Financials (MGF) the new entity created after the merger of (MFM) and (MPM) saw profit taking ended down at $L0.06
  • Tao Heavy Industries (THI) another victim of profit taking ending slightly down at $L0.50
  • Trouble Maker Approved (TMA) surged on news that the company will change direction and a new CEO and board will be elected. The stock was up at $L1.85
Recommendations - Volumes are returning and plenty of corrections as the market uncertainty around the company review process begins to settle.
  • (MAI) is sitting at a low at the moment at $L0.62
  • (MYT) risky buy but the volumes around the spread are seeing small profits
That's all from me right now, but the big news hasn't finished, that's for sure...
SW

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