April 1st 2009

A number of members of t1ps have requested that they hear more from Evil. A number of City regulators and other bores seem to think that his silence would be golden. Happily we are now pleasing everybody with the Evil Knievil diaries. Not once a fortnight but three times a week the UK's most notorious bear raider opens his heart to his faithful diarist Tom Winnifrith. It is Tom who writes and takes responsibility for...

Amount Gained on the Markets since last Report – Breakeven
Amount Retrieved from Bookmakers– Breakeven
Thought for the Day: Autonomous musings

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This morning, I have yet again been on the dog to Oz, catching up on the really undervalued situations which the long bear market in resource stocks has brought all too painfully to the attention of private investors. I was completely unaware that as part of the understandable Australian government moves to redress injustice meted out to the aborigines this latter group has been awarded its own stock exchange where tax-incentivised junior resource stocks are floated with particular benefits to the homeland areas. There are about twenty of these stocks and one that I particularly like is gold miner Looflirpa (LFA on ASX) at Aussie 10 cents (about 5p). This could be a terrific opportunity. IG are making a sterling price on this one - thus saving all the fag of dealing costs in relation to Australia

I was intrigued to learn that Connaught (CNT)'s dealings up in Glasgow are still not properly understood. I have been on to the relevant negotiating officer at Unite, the public service union, and, quite clearly, there are questions to answer. The laws of defamation inhibit me at the moment. But they won't in future.

I am asked where I stand on UK gilts. I am flat at the moment. But if I were short I would not this morning close.

I was told perhaps three years ago that Autonomy (AU.) was far too high - it was then about 500p. It is now a staggering 1315p. Yesterday I was contacted by a t1ps member who asked whether I thought it was time to short it. I replied that I simply did not know. I thought the boss, Mike Lynch, very silly perhaps nine years ago when he threatened critics with lawyers - usually a sure sign of a stock on the cusp of collapse. But the fact is that he has made acquisition after acquisition and here we are. I think it is best to wait until the chart really breaks down and then give the stock no mercy.

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Current Positions

Long: Looflirpa (LFA - Oz), Chaucer (CHU), RCG Holdings (RCG), Sunkar Resources (SKR), Barclays (BARC), Sotheby's (US), Mediterannean Oil & Gas (MOG), Alphameric (ALM), Gas Turbine Efficiency (GTE), Polo Resources (PRL), Renoveo (RNVO), Moneta Porcupine (ME.TO), Goodwin (GDWN), Amerisur (AMER), Gold, Ascent Resources (AST), RBS Prefs, Indago Petroleum (IPL), ERHC Energy Inc. (ERHE.OB), Island Gas ( IGAS), Equator Exploration (EEL), Independent Resources (IRG), Tiger Resources (TIR), Media Corp (MDC), Gulf Keystone (GKP); Plant Health Care (PHC), Independent Resources Group (IRG), Kleenair Systems (KSI), REA Holdings (RE.), Paion (PAI), Petrolatina (PELE), IQ Holdings (IQH), Frontera (FRR), Coms Plc, Nexus (NXS), Millbrook Scientific (MBK), Phytopharm (PYM), Ocean Wilsons (OCN), Molins (MLIN), Speymill (SYG), Kryso Resources (KYS), ZI Medical (ZIM), OEM (OEM), GNE Group(GNE), Clean Diesel (CDT), Pipehawk (PIP), Source Bioscience (SBS), Blavod Extreme Spirits (BES), Uruguay Minerals (UME), Oryx (US),

Short: International Bancshares Corp (IBOC - Nasdaq), FTSE 100, Aero Inventory (AI.), The Euro, Life Partners (LPHI on Nasdaq), Admiral (ADM), Cookson (CKSN), Thomas Cook (TCG), DSG International (DSGI), Sterling v the Norwegian Krone, Oilexco (OIL), Apollo (US stock), Copper, Carpetright (CPR), Savills (SVS), Lifetime Fitness (US), Peter Hambro Mining (POG), Enterprise Inns (ETI), Capital & Regional ( CAL), Southern Cross Healthcare (SCHE), Majestic Wines (MJW), Barratt Developments (BDEV), Redrow (RDW), JJB Sports (JJB), Man Group (EMG), Marks & Spencer (MKS), Allergan (AGN: US), Meldex (MDX), Lululemon Athletica (US stock), Interior Services Group (ISG), Fannie Mae (US stock), Research In Motion (RIMM), Marks & Spencer (MKS), Morgan Sindall (MGNS), Manganese Bronze (MNGS), American Superconductor (AMSC on Nasdaq), Gasol (GAS), Grainger Trust (GRI), Roxi Petroleum (RXP), Game Group (GMG), LSL Property (LSL), Phorm (PHRM), Admiral (ADM), Meyer Burger, SCI Entertainment (SEG), Spice Holdings (SPI), London Asia Capital (LDC), Arthrocare (US stock), Paragon (PAG), London Capital Group (LCG), Renesola (SOLA), , Topps Tiles (TPT), Pursuit Dynamics (PDX), Regus (RGU).

New Positions: Looflirpa (LFA - ASX) - long.

*Source Bioscience, Media Corp, Nexus and IQ Holdings are corporate clients of Bishopsgate Communications which is owned by RSH the ultimate owner of this website. China Wonder, PetroLatina, Nexus, Kryso and EMED are corporate clients of GE&CR which is also ultimately owned by RSH. The t1ps smaller companies fund holds shares in Blavod, Centamin, IQ and Nexus. RSH owns shares in Media Corp & Nexus.