The two stocks most beloved by Bulletin Board Morons are Quindell (QPP) and Gulf Keystone (GKP). I have got death threats, shit in the post, a hate campaign against my restaurant for questioning both companies. I am not gloating about the losses suffered by “innocent shareholders.” But the losses suffered by those who have tormented me trying to gag free speech and legitimate questioning cause me no sorrow. Quindell shares have plunged today as it failed to move from the AIM Cesspit to the main market (see HERE) but Gulf is also down by 12.5% at 79.3p: blame leverage and Al Qaeda.
To leverage first. The last time I looked 98% of IG clients were long of Gulf and its clients were overwhelmingly long of Quindell too. The slump in the Quindell share price will be causing margin calls across investor-land and that will trigger forced sales elsewhere. Gulf and Quindell are the mainstays of most Bulletin Board Moron portfolios.
Adding to Gulf’s woes is news that Al-Qaeda had taken control of Mosul in Northern Iraq.
on ShareProphets | Comments