Read the latest interims.......just make sure that you are sitting down.

as i said 7/10 days ago, sp was being artificially supported while SOLA got their NY listing off the ground ...... am now into a very nice profit and shall have to contemplate whether or not this short position should continue to run

Well Richard it's sitting right where I expected it to, 340p; either gets going here or 280p-300p next stop.

perhaps i'll just put in a stop loss around 375 or even a bit lower

Once the news is digested I expect to see a bounce back to 4+

why? .... i think GF has this one right .... also, if you look back through some of the news on this company, you will see that the management even had to own up to lack of clarity and transparency ...... no surprise there; typical modern chinese business ethics

reined in my greed and took profit at 344 ..... Peter - will be interesting to see if 340 snaps; seems disinclined to for the moment

Quite early yet Richard, 340 ish has been the Bid more or less since open, the spread has closed significantly since the early deals.

$119 million to be raised and underwrittten, but the company were looking for $200 million from reports in the press, in other words 59 million raised but were looking for 100 million a shortfall of 41 million which will not go down well with the US traders.

Wheres the additional funding coming from now given that it was imho an emergency situation dressed up in the first place.

Total of $119 million underwritten, and not $130 million, see post above.

and as for trading at a huge discount, throw in the dilution of

bonds 10%

employee scheme 7%

and now this defunked IPO 17% and the total prospective dilution is

a grand total of 34%.

Dont have to tell you how this will now affect the P/E ratio going forward.

Watching initial reaction on the Dow.

cannot disagree with you GF, though equally sp has stayed stubbornly above PTH's assessed support of 340

Never try to outguess the outguessable-the dilution may be totally overlooked in the wider picture-a green way of producing energy.

Was it not MLSB who came in with a price target of 8-I dont see them changing their stance anywhere.

you keep filling your boots then m8! .... btw, you may like to reflect on MLSB's last set of figures!

cynic-post them

don't have them, but from memory they werer a total disaster ..... anyway, have just re-shorted here albeit with stop at about 355

but i do have a successful short running on SOLA! ..... sp teased above the critical 340 level but has now plunged to 315 ..... perhaps the Americans have not been bamboozled by these scallywags, who no doubt think/thought they were a bunch of suckers!

Bit harsh dont you think cynic-well I guess money to be made in both directions then!

why harsh? ...... if Dow closes high, which it may well do (but thought that last night too!) then yes i prob shall close my position, for the (short term) trend in london may well change, dragging the likes of SOLA in its wake

Just been having a look at the SOLA chart, I may have identified a previous trendline (down) which has been used by the SP on numerous occasions as both support and resistance, it's the turn of support once more and for the next few days that support is at 300p. Obviously cos it's a downtrend the support reduces on a day by day basis. There may also be a parallel trendline 'partner' which if correct will channel the SP south during the coming months with a max SP of 400p. Interestingly should the lower trendline fail, next stop is 200p!!

AIMHO of course and any TA changes on a day by day basis.

Am tempted to short now 320 hasn't held, but shall sit on sidelines and watch...

as always Peter, many thanks for your input ..... am happy to leave my short in place, not least because sp has tracked firmly south again, despite a very strong general market