Brent crude hit $108 a barrel today on fears on the disruption of supply from Libya. The FTSE 100 is currently down 40 points to 5,975 but was down over 70 points earlier in the session.
My AIM oil and commodity stocks took the change in sentiment badly with Xcite, Bowleven and Rockhopper all deeply in the red and trading below fundamental value. A combination of fear, stop losses being triggered and profit taking all took their toll. I didn't think I would be able to buy rkh at 225p and blvn less than 300p. But that's AIM for you, extreme volatility is the norm and you need to plan for it and have cash on the sidelines for weeks like this.
No comments:
Post a Comment