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Quick entry today, mainly about Autonomy (my pet share for those of you who don't know this already). Today saw it fall through the £9.00 mark and come to rest around £8.50 in a fairly turbulent morning of trading.
I had intended to double my long position at £9.00 however given it's behaviour so far I've entered an order to buy at £8.00 and will continue to monitor the price and consider moving that buy order to £9.00 if it's behaviour changes. I've also moved my stop on the existing position to the fairly clear resistance level around £7.00 as shown below:
Oil is currently staying well below my previously marked resistance level so nothing to report there.
QTI
For those of you who don't know, Qonnectis was the first company MWM ever purchased shares in, Below is the chart of their progress over the last year or so. That peak you see? That's where we bought.
I'd love to call this a rollercoaster ride, sadly it's been more like a vertical drop. Our stake is worth about 30% of what is was a year ago and that would be less if my calls to increase out stake 6 months ago hadn't been shouted down by the others whose money was involved.
Suprisingly therefore I'm still fairly happy with this little business. Granted they tell the public nothing, don't really update their website and constantly issue new shares because they run out of money but I still really like the technology. I also think that we went into this, perhaps naively, knowing that it was an all or nothing share. At the time they had a new product, leakfrog, which we thought showed enormous potential and I still hold that view today.
If the product is successful it will move this company from an essentially loss making R&D outfit to a profit making supplier. The share is binary if you like, either it will succeed and the share price will increase dramatically or it will fail and make no money, everything in the mean time is just noise.
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FX and Trading 
