Trades and observations from a British contrarian stock investor

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Wednesday, February 9, 2011

Biggest day on Xcite Energy since end 2010

Big 7% or 26p move up on Xcite Energy (xel) as we await news from the company on rig or even more interesting matters.

The market makets have been moving XEL around in a range between 355p and 375p for several weeks and now we have a solid breakout. Its been a no brainer investment since the flow test in December. Just a little patience was required and this was always going to be coiled spring. Pity the guys who sold and moved into other AIM stocks like Nautical or Rockhopper which got blasted today (down 7% but fortunately a much smaler position in the Contrarian Investor portfolio than XEL).

Lots more to come in the remainder of the week for Xcite. Happy days indeed!!

Posted by Contrarian Investor UK at 5:34 PM
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