Robbie Burns
Robbie Burns's columns :
26/02/2008Trading too much?
14/01/20082008 COULD BE A GOOD YEAR!
21/11/2007Love the Shorts - but Short Term Only!
17/10/2007Oil be Blowed! >>
04/09/2007An August Of Panic
24/07/2007Trailing Stop-Losses
21/06/2007Should you follow Directors?

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Robbie Burns – The Naked Trader

Robbie has been trading full-time since 2001. His book "The Naked Trader" (which also has useful information on how to use advfn) has become one of the biggest-selling finance books, reaching the top 150 books on Amazon - order it here. Trades made for Robbie's website have amassed profits of more than £300,000. You can read about his buys and sells daily at

Oil be Blowed!


Well … I did say in my last column that we’d see bids in both the oil exploration and oil services sectors. It's really only just starting - and in earnest!

Those of you who read my last column will know that I scored with the bid for Sondex, which I'd held for quite a while. This netted me more than £15,000 in profit.

And lucky for me too is that I also had Burren Energy, which is subject to a proposed bid by ENI with other predators hovering in the background. I've held Burren for nearly three years since it was at 240p and so the current bidding war at around 1200p comes as good news.

I do think this is just the start and I hold a number of other sector stocks which I think could end up as targets – here they are in no special order:

Dragon Oil, Petrofac, Wellstream, Hunting, Velosi, Bowleven, Lamprell, Oilexco, Premier Oil and Tullow Oil.

I would expect to carry on holding these regardless of what the main market does for the foreseeable future.

I also hit lucky with some other companies recently - in fact I've had five in my portfolio bid for: Sondex, Burren, Broker Network, Foseco and Domestic & General. The bid for Foseco, an engineering company, was interesting. I wonder whether other smaller engineers like Fenner could soon be in play.

So, at the moment my general market view is to buy oil and oil services stocks, sell property stocks and be wary of retailers. I feel it's going to be a very interesting ‘end of year’ and if there isn't another bid in the oil sector by the year’s end, I'll eat my hat.

(Well I would … if I had one!)

You can read Robbie’s daily market comments together with his latest buys and sells at his website

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