Sea of red today as fear stalks market

The FTSE 100 managed to regain some of its poise late in the session, finishing down 18 at 5,997 after being much further in the red in the morning. Worries about the Libyan crisis and poor results from retailer Walmart were offset by good consumer confidence numbers from the U.S. and encouraging news on a budget surplus in the U.K. last month. Looks like the VAT rise to 20% and the increase in capital gains tax from 18 to 28% is finally swelling the Treasury coffers!

Another dreadful day for the Contrarian Investor UK portfolio with all the stocks down and with the oil stocks feeling the pain despite the rising oil price. It was nice to see Bowleven finally rebound to finish up 2%  at 313p after falling below £3 this morning. I couldn't resist a top up at £3 with so much news to come from its Cameroon Sapele-1 well and other drilling activities. As for Rockhopper, I am gob smacked it is now at 232p after yet another 6% fall so I am well down on this. Fortunately there is no rush to sell at these levels, i'm holding firm for the results of the 14/10-4 well in mid-March. Crazy that its dropped £1.50 since the 14-10/3 well result and yet Goldman Sachs has its target price over £6. Institution selling plus private investors fearing for their lives. What's with the nonsense about a Sea Lion duster!! What next? Glad i derisked on Xcite last week with anothet 9p fall. Had far too much in Xcite until a couple of weeks ago. Shame I put some of it in Rockhopper, we're all human!!!