I am a trader as well as an investor and hopefully this thread will reflect both aspects ....

We should start by saying this is a highly speculative share and the market takes no prisoners.

Over the last 18 months I made lots twice in the early days - then lost it back - bought a million at 2.6p average - founded the TAG - bought another half a million or so at sub 1p - sold most at average 4.25 - bought back at 2.2p and less - sold most at 3.5p and now buying back - overall a good net profit at this time.

I think the d4e will happen (say 90% chance) and the 3% currently talked about will give or should give a price equating to say 3/5p. Longer term on succcess of d4e and progress in the sales market the shares should move to around 10p - assumming markets are not in freefall.

I am looking to buy at any time and hoping for a war generated dip - when I do I will let you know.

The TAG site is a great place for catching up on the TWT news and I will post here as well.

Currently trading on TWT is light (1.7 million traded) and the price is down a littlw with a wide spread (2.01/2.35p). This is a sets share and you must expect a crtain amount of manipulation in these troubled times - FTSE down over 4% intraday

I have a core holding of at least half a million shares and intend to be a long term investor at this time.


ainsoph


http://www.investoraction.co.uk - currently we have 804 registered members holding around 100 million shares in total

Liberty helps rival bid for Hughes

David Teather in New York
Saturday March 29, 2003
The Guardian

Liberty Media has backed away from challenging Rupert Murdoch's News Corporation in a bid for Hughes Corporation, the parent company of DirecTV, the biggest
satellite television network in the US.
John Malone, the prolific media investor who runs Liberty, has instead decided to back Mr Murdoch's bid, and increase his own stake in News Corp from 17.5% to 19%.

Liberty is already the largest outside shareholder in News Corp, whose assets include the Times and the Sun newspapers, the Fox TV network and a controlling stake in BSkyB.

Liberty will pay $500m (318m) for the additional shares, which will help fund the Hughes bid.

News Corp last week issued a $1.35bn convertible bond against shares in BSkyB, of which roughly half will be added to its war chest. The company has one of the strongest balance sheets in the debt-ridden media sector and has around $3.1bn in cash.

Liberty and News Corp had been planning a joint bid for Hughes but the plans fell apart and both were considering individual offers.

Mr Malone has been shifting the strategy of Liberty and is moving more toward owning and operating businesses instead of being a passive investor.

The company might have considered DirecTV a more logical fit with News Corp, which owns cable channels in the US as well as satellite net works around the world, including Star TV in Asia.

The decision to work with Mr Murdoch also quashes speculation of a rift between the two media moguls who have worked in tandem on many deals.

Liberty's decision to back away significantly improves the chances that News Corp will win Hughes, fulfilling Mr Murdoch's long-held ambition to own a US distribution network.

In the first auction for Hughes, more than a year ago, Mr Murdoch lost to DirecTV's rival EchoStar. But regulators balked at the merger of the top two satellite providers in the US and blocked the deal.

News Corp could face opposition from SBC Communications, but it remains unclear how serious the local telephone provider is about making an offer.

Liberty is understood to have held discussions with EchoStar about a possible bid. Like News Corp, Liberty owns content including the Discovery Channel, Starz and QVC and is eager to combine its programming with a distribution network. Washington might take a dim view on a deal, given Liberty's investment in News Corp.

Mr Murdoch has appeared to be interested only in acquiring the 20% of Hughes that General Motors is making available for sale. How much control that would give Mr Murdoch or Mr Malone, who may have negotiated some kind of board representation, is debatable.

Chris Tryhorn
Monday March 31, 2003


Jean-Marie Messier: accused of 'fraud, misrepresentation and concealment'

John Malone's Liberty Media has filed a lawsuit against Vivendi Universal, claiming it was deceived about the scale of the French group's financial problems during a transaction in December 2001.

The deal involved Liberty swapping some of its stake in USA Networks for a 3.5% share of Vivendi worth 1.1bn, an investment that has lost more than 70% of its value since May 2002, when the deal was closed.

Liberty said Vivendi's chief executive at the time, Jean-Marie Messier, and his chief financial officer, Guillaume Hannezo, obscured the true picture of Vivendi's finances with "outright fraud, misrepresentation and concealment".

The deal was part of the complex negotiations to form Vivendi Universal Entertainment, which was created out of Barry Diller's USA Networks.

Vivendi described Liberty's suit, which was filed in New York, as "without merit".

The two firms have recently been in talks on future tie-ups and Liberty has registered an interest in buying the troubled group's US entertainment assets,

which include Universal Studios and USA Networks.

Vivendi - which posted the biggest loss in French corporate history earlier this month - has been trying to reduce its debt mountain of about 11bn over the past nine months since Mr Messier was ousted.

Last week it raised 2.4bn by issuing high-yield bonds and signing a new loan facility but its long-term prospects may depend on selling its assets.

It has already disposed of publisher Houghton Mifflin, Italian pay-TV broadcaster Telepiu and satellite broadcaster Canal Plus Technologies.

The Vivendi chairman, Jean-RenFourtou, has said his target for 2003 is to dispose of assets worth 4.8bn and reduce debt to 7.6bn.

Liberty is known to be interested in making acquisitions, having boosted its war chest to about 2.5bn in recent weeks.

Vivendi's assets are one potential target and it may buy the rest of shopping channel QVC, which it co-owns with Comcast.

Mr Malone seems to have stepped aside from bidding for US satellite broadcaster DirecTV, putting his weight instead behind Rupert Murdoch's likely bid after upping his stake in the tycoon's News Corporation last week.

MediaGuardian.co.uk special report

ainsoph, do you reckon we'll now be stuck with the 3% or could TWT follow the pattern of other recent D4Es by including warrants? I got the impression in the TAG days that you felt not or not able to say - any different views now - perhaps even on the 3%. Taking a long time too isn't it. If it was as simple as 3% we'd surely be there by now. Any insight?

Andyble

I have talked at some length with the directors and others at TWT on the question of the 3% and very specifically on the idea of including warrants. At the time it was made clear they thought the idea of warrants was a non-starter (too messy) and the 3% was 6 times better than moni and a good deal ..... good for both sides. It seemed very unlikely when it was first mooted they (Company or bondholders) would change their view or stance.

As time went bye Liberty and others took various positions and my inclination was to think the % would be higher - it never crossed my mind it would be lower. liberty are still keen to keep control but guess they don't have sufficient paper and the other bondholders clearly want to go their own way. My guess ids still a 3% minimum and the delays are about control rather than the ordinary others shareholders %

Missed the action yesterday but will be looking to add


ains

ainsoph, thanks.

Together NTL and Telewest are ahead of BT in the broadband stakes, and could sign up more than one million customers by the end of April
The UK's two major cable companies are close to reaching a total of one million broadband customers, and look set to beat BT to this landmark by at least a couple of months, according to figures released by NTL on Monday.

In its financial results, NTL stated that on 21 March it had 650,000 broadband cable modem customers. Around 133,000 of these users have signed up since the start of 2003, giving NTL a current take-up rate of around 12,000 new broadband customers per week.



With fellow cable operator Telewest having around 300,000 broadband customers, the two companies can boast a total of some 950,000 high-speed Internet users.

Reaching a combined total of million broadband users would give both firms a fillip, especially given their recent financial turmoil, and would emphasise their key role in the creation of Broadband Britain.

At current sign-up rates -- Telewest is connecting "about a thousand new broadband customers each working day", according to a company spokesman -- this milestone should be shattered before the end of April.

Whither BT?
BT chief executive Ben Verwaayen vowed last year that the telco would reach one million ADSL customers by the summer of 2003, and five million by 2006. Given the patchy state of Broadband Britain at the time, this was an ambitious target, but the telco seems to be on track.

It announced last week that it had a total of 750,000 ADSL customers -- shared between all the ISPs that resell its wholesale broadband products. Take-up rate is understood to be between 20,000 and 25,000 per week, which if maintained would certainly lift Verwaayen's firm over the finishing line with ease.

Some ISPs are speculating privately, though, that BT could soon be hit by a minor slump in orders as people begin to favour outdoor activities and decide to hold back from splashing out on broadband until after their summer holidays. The ending of its half-price activation fee offer might also lead to a decline in take-up.

BT insisted, though, that it is still "absolutely" on track for one million users by this summer. And, having not set a specific date such as 30 June, it has some leeway if the one million target isn't hit until July.

Must admit I chopped my TWT lines a month or so ago .....


BT 'second best', says Telewest
By Tim Richardson
Posted: 02/04/2003 at 14:19 GMT


Telewest claims BT is still "second best" despite today's announcement that the UK's dominant telco is to cut the cost of some of its phone calls.

In what could prove to be the beginning of a war of words following BT's "radical" pricing announcement this morning, David Hobday, deputy MD of Telewest Broadband, said: "This is yet another example of BT waking from its cosy slumber, attempting to follow our lead and getting it all wrong.

"Their own research demonstrates consumers' desire for lower, less complicated call charges, and that's exactly what we've been offering for over a year now.

"Our Talk Unlimited, Talk Evenings & Weekends and Talk International packages, which BT conveniently seems to ignore in its comparisons, still make BT second best."

Casting doubt over BT's latest assertions, one insider told us: "Our Telewest Talk Unlimited service is 26 per month with no strings attached, yet their BT Anytime plan is 28.50 with call charges after an hour... go figure it out for yourself."

Almost added a few today but couldnt get the price I wanted - 13m sell after close



ains

Battle of the band

Speculation is rife about a merger between NTL and Telewest. But if it goes ahead, can the new cable giant challenge BT for the leadership of Broadband Britain? By Richard Wray

Monday April 7, 2003
The Guardian

Ten years ago there were more than two dozen cable companies operating in the UK. Today there are just two, NTL and Telewest. To get here both companies spent billions of pounds and in the process pushed themselves to the edge of the financial abyss. They are now trying to stage a recovery and speculation is rife that if a merger can be agreed a single cable company would be a powerful competitive force.

But forget Sky, the enemy here is BT, and the prize is leadership in Broadband Britain.

With all the noise made by BT over the past few months about its broadband offerings it is often forgotten that more UK households actually use cable for fast internet access. Later this month cable will announce that it has amassed one million broadband users, a target that BT will not pass until the summer.

Some in the cable industry believe that one of the key drivers behind BT's acceptance of the importance of broadband last year was its need to see off the competitive threat posed by cable.

After months and months of wrangling about gaining access to BT's local exchanges to use its lines - a process known as local loop unbundling - BT introduced a wholesale product which allows any internet access provider (ISP) to make use of its lines at an affordable price. This digital subscriber line (DSL) technology suddenly opened up BT's lines to other ISPs.

Last week BT announced it has connected 800,000 lines using a particular version of this new technology - known as ADSL. It also cut its price, having halved it last year, in order to ensure it hits its target of one million broadband customers using its network by the summer.

Bill Goodland, internet product director at NTL, believes cable rather than the government and the regulator Oftel should be thanked for BT's largesse. "The improvements that we have seen at a retail and wholesale level are directly linked to what the cable companies are doing - it is competitive, not regulatory pressure that is improving life for your average DSL customer."

The question is whether the cable companies can continue to outpace BT now that the weight of the communications group is so firmly behind broadband. What will hamper the cable industry is exactly what led them into last year's financial mire - having to pay to dig up the roads.

The cable industry is some way away from being a truly national competitor to BT. BT last week announced that 90% of the UK's population is now within reach of a local telephone exchange that can provide broadband - if enough people in the area want it. That compares with the cable networks of NTL and Telewest, which pass just over half of the UK's 25m households.

In addition the cable network is far from being fully integrated. It is more like a patchwork quilt, a consequence of the different acquisitions which formed Telewest and NTL in the 90s.

Telewest reckons that about 95% of its network, which passes 4.9m homes, is broadband-enabled while NTL is lagging the field, with just 79% of the 8.4m homes it passes able to receive fast, always-on internet access through a cable modem.

"The limiting factor is that their networks pass much fewer households than BT," according to Jonathan Tee, analyst at industry research house Analysis. "So there is inevitably going to come a point when BT does overtake both the cable companies, regardless of whether or not they are one company."

To create a national network the cable companies would need cash. While NTL has dragged itself most of the way back to some semblance of financial health, having just emerged from bankruptcy protection, Telewest is still trying to bash heads together among its creditors in order to get a new financial package passed. That is unlikely to happen until the autumn.

In the meantime both companies are very wary of scaring the financial markets by mentioning any expansion. At the time of NTL's results last month its chief executive Barclay Knapp made it clear that the company's first priority is to make use of equipment that has already been installed, connecting people who have moved into homes where the previous occupant was a customer. Then NTL will move to connecting customers that are passed on the street. NTL is unlikely to increase its geographic footprint any time soon.

Announcing results a few days later, Telewest's chief executive, Charles Burdick, said: "The focus for the team is on driving the operations and moving out of the restructuring."

So would a merger of the two companies help? It would have no overall effect on customers, as the two networks do not compete in any of the same areas. But the chances of the financial community suddenly feeling more confident about the economics of cable are slim in the current climate.

Anthony Walker, head of the Broadband Stakeholder Group, set up two years ago to advise the government on the new technology, believes that cable is likely to remain a smaller player than BT for some considerable time. "BT is always going to have more coverage, the big question is at what point can the cable industry start expanding its coverage - it is going to be a while before that happens."

But he believes the cable companies will continue to play a crucial role in the development of broadband. "The cable companies have been a really important competitors to BT and I think in many ways that competition has continued to drive development and innovation in the market".

The main area of innovation for the cable companies has been the introduction of broadband services which work at different speeds. While BT's ADSL-based service operates at ten times the speed of the typical household modem, Telewest recently introduced a service that operates at twice the speed of BT. It has already signed up 30,000 customers and forced BT to start developing a similar service. In response Telewest is running a trial of a service that works twice as fast again.

The company's head of internet services Chad Raube believes the ability of cable modems to operate at much faster speeds than connections into BT's network will become increasingly important as more and more households become "wired homes".

"We will always have the capability to go faster than ADSL and do that more cost effectively and to more customers. As broadband becomes more of a connection to the home, a utility as common as water, speed will become more and more important and we will be able to leverage that advantage to win the market share battle in our areas," he says.

In the home of the future, he reckons, people will connect more than just their PC to the internet, so will need more capacity from their broadband provider. Cable will play a crucial role: "BT need a lot more than rhetoric and fancy announcements to really catch up with that."

A long read but of interest to TWT or BT holders




The telecoms giant claims it has cut some call charges, but rivals argue that it is just misleading consumers. Mary O'Hara reports

Saturday April 12, 2003
The Guardian

BT last week claimed it was opening up a price war in the telecom market, introducing radical price reductions in some of its tariffs for residential customers. But are the cuts real or, as rivals claim, a misleading package which exaggerates the savings to be made?
On the face of it the changes - which apply to customers on BT's package deal tariff called Together - seem like a good deal.

People who make lots of long calls, for example, may well be better off. For instance, on the new 6p per hour tariff any call lasting up to 59 minutes and 59 seconds will cost 6p whether local and national.

However, competitors contend that very few people will actually see cheaper bills because the majority of phone calls made by domestic users last around four minutes. Someone making 15 four-minute calls under the new scheme would pay 90p for one hour's worth of calls because each one would cost 6p.

The changes do not come into effect until June. So are they just an exercise in cosmetic marketing?

BT's rivals, including cable operators NTL and Telewest, and Centrica-owned One.Tel are furious with the company for painting the tariff changes as having a widespread impact on telephone bills. The managing director of One.Tel, Ian El-Mokadem even went so far as to call BT's announcement "one of the most misleading statements I have ever seen."

Recent entrants into the home telecoms market have long complained that, despite the liberalisation of the market 20 years ago, BT still has a stranglehold on customers thanks to a mixture of inflexible regulation and technological quirks which have made it difficult for people to change suppliers.

They are desperate to eat in to BT's colossal market share. The ex-monopoly still holds on to three-quarters of the domestic market - some 20m customers - and its retail division is the most profitable arm of the organisation.

But this is more than an episode of sour grapes. Tariffs across the domestic telephone market are nothing short of bewildering; most companies will admit this. It is almost impossible to compare like with like. Firms vying for business understandably tend to emphasise those tariffs which on the surface seem to offer the best value.

"Confusion is rife in the home telephony market," says Jon Miller of uSwitch.com, a web firm offering a free online and telephone-based tariff comparison service to consumers. "The plethora of advertising and small print makes it virtually impossible to compare services and to decide on the best deal," he says.

"BT is very good at clouding the waters to retain customers on expensive tariffs. With 73% of market share, it is still abusing its monopoly power."

BT's tactic this time of comparing its packaged tariffs with the standard rates of its competitors, instead of their equivalent and cheaper packaged tariffs, may artificially put the BT deals in a better light. In some instances, BT claims to be 20 times cheaper than rivals.

Carphone Warehouse chief executive, Charles Dunstone says the statement issued by BT is significant because of what it leaves out. He says that because like with like is not compared and other changes to the way the packages are bundled are withheld, consumers are not being given the full picture.

Gavin Patterson, managing director of Telewest Broadband, says: "BT accuses competitors' pricing claims of being 'plain misleading' because they're based on standard rate comparisons, yet it has done exactly the same. By not comparing like for like, BT is simply clouding the issue further and continuing to offer consumers second best."

NTL says that by limiting the changes to certain tariffs and to the small group of customers who make very long calls - and not the standard charge users (10m customers, according to BT) - most of BT's customers will not benefit.

"Nearly half of BT's customers are on their standard tariff," says Jenny Lynn Jones, director of telephony at NTL. "BT is charging these customers nearly 8p a minute for a national daytime call compared to 3p on our standard '321' tariff. So, for many people the changes by BT will still leave them paying more than they need to."

A spokesman for BT says: "The reassurance customers will get over the fixed fee will have the effect of making their calls last longer, so it's difficult to compare past behaviour that is likely to change."

He adds: "An average BT customer making 56 local and national calls per month would save 4 per month based on the new changes."

But there are other issues worth taking on board. The tariff changes do not take into account international calls or calls from landlines to mobiles. BT is widely seen to be more expensive on most international calls.

A spokeswoman for uSwitch.com says: "When it comes to international calls, BT is still significantly more expensive for most calling destinations." But, she concedes, "there are some ways for BT customers to make savings."

It is not all bad news for consumers, though. New entrants in to the telecoms fray including Tesco Telecom (which is committing itself to undercutting BT when it launches its tariffs in June), and a collaboration between Carphone Warehouse and Sainsbury's should put more downwards pressure on prices.

And it is about to become easier to switch your supplier thanks to new technology that means customers will no longer have to rent a line from BT while paying their bill to another supplier.

So, the old adage stands: shop around. Look carefully at how you use your phone, and then find the best tariff to suit you - and re-look on a regular basis.

How the providers compare on price

Profile 1
Customer makes 3 average-length calls to local and national destinations a day.*

Supplier & Package: Annual bill

Telco Select & Together: 175

British Gas Everycall 240: 180

Tiscali: 195

BT option 1**: 205

BT Standard non-packaged rate: 370

Profile 2
Customer makes 7-9 calls to local and national destinations a day.* Most calls are made in evenings and weekends

Supplier & Package: Annual bill

OneTel Unlimited UK Calls: 205

Telco Select & Together: 210

British Gas Everycall UK Unlimited: 220

BT option 2: 245

BT Standard non-packaged rate: 370

Profile 3
Customer makes 15 or more local and national calls per day

Supplier & Package: Annual bill

Telewest Talk Unlimited: 310

Telco Select & Together: 345

BT option 3: 345

OneTel Unlimited UK Calls: 345

BT Standard non-packaged rate: 640

*excludes mobile calls
**assumes that 30% of calls will be capped

(Bill estimates provided by uSwitch.com)

For more information and to compare tariffs go to: www.uSwitch.com or call 0800-093-0607.

`different indicators`



ROFLMAO

23 April 2003







Re: Annual Report and Accounts 2002 : Summary Financial Statement 2002 : Notice
of AGM to be held on 12 June 2003 and Form of Proxy.



A copy of the above documents have been submitted to the UK Listing Authority,
and will be shortly available for inspection at the UK Listing Authority's
Document Viewing Facility, which is situated at:



Financial Services Authority, 25 North Colonade, Canary Wharf, London, E14 5HS.

Tel: 020 7676 1000

Singer pocketed 1.8m Telewest payoff

Chris Tryhorn Guardian
Wednesday April 23, 2003


Singer: handsome payout will dismay Telewest shareholders

Adam Singer, the man who headed troubled cable giant Telewest as it came close to bankruptcy, picked up a cool 1.79m when he was ousted by the board after a two-year stewardship that saw billions wiped from the company's value and the loss of 1,500 jobs.
According to the company's annual report published today, Mr Singer got a golden goodbye of 1.42m in compensation for losing his job.

Mr Singer's payoff was calculated as two years' worth of his 600,000 salary plus benefits, meaning he walked away from the ailing company with a total of 1.79m after seven months' work.

As well as the compensation, he received 350,000 in salary to the end of July plus 22,000 in benefits and 35,000 in pension contributions.

The handsome payout will dismay shareholders who at one stage watched as billions of pounds were wiped from their shares as the value of the company plummeted by more than 90%.

Ultimately the shareholders were forced to cede control of all but 3% of the company when the bondholders - who

ADVERTISEMENT

had priority over their debts - took over 97% of the shares in exchange for 3.5bn of the company's 5.3bn debt.

Telewest is still in negotiations with its bondholders, who include Deutsche Telekom and John Malone's Liberty Media, and reports have suggested the refinancing will not be completed until at least the end of May.

Only last June Mr Singer was at the centre of a row over pay when shareholders protested against bonuses totalling 690,000 awarded to him and other executives.

The National Association of Pension Funds called on its members to abstain from voting for the reappointment of Mr Singer and the group finance director, Charles Burdick, now managing director, because of their bonuses.

Telewest's annual report also revealed the executive directors were paid 440,000 in bonuses even though the firm, Britain's second largest cable company, made a pre-tax loss of 2.2bn and its share price fell from a year's high of 67.5p to 2p at the end of December.

Mr Burdick collected a 160,000 bonus while his replacement as finance director, Mark Luiz, and the group strategy director, Stephen Cook, each pocketed 140,000.

The bonuses are set according to the group's EBITDA [earnings before interest, tax, depreciation and amortisation] performance against budget, supplemented by the "achievement of personal objectives as set by the remuneration committee".

They were paid in full for 2002, the annual report says, but if Mr Burdick or Mr Cook were to leave "in certain specified circumstances" this year, a proportion of their bonus ranging between 25% and 100% would have to be repaid.

Mr Burdick could collect a similar payout to Mr Singer if he lost his job following a change of control at the company.

The terms of his contract state he would receive 24 months' notice - worth 1m - if his employment were terminated in the six months after any such change, not an unlikely scenario given speculation that Telewest may eventually merge with its rival NTL.

Mr Burdick's annual salary for 2003 is 500,000 and he is also provided with a company car, private medical insurance for himselft and his family, life assurance and income protection assurance.

Mr Cook and Mr Luiz earn a basic salary of 370,000 and 350,000 respectively, with benefits similar to Mr Burdick's.

The non-executive directors who left Telewest in 2002 - three from Microsoft who were withdrawn in May, and three from Liberty Media who departed two months later - received no fees or compensation for loss of office.

It was their departure that triggered the boardroom coup that removed Mr Singer at the end of July.

Mr Singer took over as the company's chief executive in April 2000 after Telewest merged with TV channel operator Flextech, of which had been chairman since 1997.

Before that he had worked for the BBC and US media giant Viacom.

During the dotcom boom, Mr Singer was an enthusiastic advocate of cable because of its capacity to provide access to broadband internet, digital TV and telecoms.

Mr Singer also left with 3.15 million share options, which can be exercised at various points over the next three years.

With the company's share price limping along at about 2p, the share options are currently of little value - worth about 60,000.

However, Mr Singer can still exercise his shares at a later point.

Many analysts regard a merger with Britain's leading cable company NTL, which emerged from chapter 11 bankruptcy in January, as inevitable.

LOL !

I think TWT is fairly priced around 2p. It is difficult to see the price going north after the d4e has been finalised.

I had my digital tv box removed because the channels offered were quite frankly not worth a paying for after they increased the price recently.

Hmmmmmmmm ...... your timing is out again snappy ..... huge condition trade at a high price late yesterday after market closed ..... 13 million shares from memory. Volumes are high again today with over 21 million shares traded and a quick buy earlier could have netted a quick 10% profit - you have to be quick though. Currently 2.21 mid and up over 5%.


A or two extra is not enough to make us worry about the cost of having over a 100 channels to chose from - just the CNBS/CNN/Bloomberg channels plus the music makes it all worthwhile. Also helps the bottom line as time goes on


ains

NO I wouldn't trade these ains, I mean as an investment stock I feel they are fully valued in the 2p region.

hmmmmmmmm ..... guess you are wrong again then :-))

I wouldn't trade any of these penny tiddlers.

spreads are too large

they are too risky

cannot trade them as a CFD so must pay stamp duty each time and a brokers commission. There's better picks for short term trading out there.

I hadn't realised you ever traded anything snappy but everyone to their own ..... my brokers commission is tiny and what I care about is the net and margin. i can trade them on CFD's but choose not to.

I am surprised you spend so much time on these threads if you have no interest in them ..... Personally made several hundreds of % on some relatively recent TWT trades .... no matter it was a penny a share - on several million shares



ains