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Sell Sefton at any price says Doc Holiday

Tuesday 20 August 2013

This share may be suspended at any time as its chairman and sole executive Director Jim Ellerton was last night shown beyond doubt to be a liar and a fraudster thanks to the publication of his own testimony given under oath in a 2009 Court Case.

You can read the full transcript of Jim Ellerton’s deposition which must go down as the longest suicide note in history HERE

Even before that, I have made no secret of my thoughts towards Sefton Resources (LSE:SER). Whilst I’m staggered and gobsmacked watching this story play out I have always tried to remain professional in my opinion of the company often leaving my twitter feed to share opinion so not to appear like a four pronged attack on the company.

However the technicals look shocking (short term 0.30p) with the fundamental activity weaker again. The fundamental target price has to be close to zero.

Brushing aside in true fashion, Sefton has an awfully long historic receipt of loss loss and more loss, The company adds little value other than comedy In the market these days!

Back to technicals. The Mac’d went negative at 0.6p and has since maintained its trajectory as has the RSI ” Buckling under the strain ” I guess the 100% Fib at 0.30p is now looking nailed on with a possible complete collapse regardless of big Jims downfall.

Cash burn is high and cash flow is looking like a Christmas turkey ” Well stuffed ”

Doc Holiday is a freelance financial commentator.

 

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