EAT MY SHORTS, THE BEAR THREAD!

A very Merry Christmas to all bears. I see that Newport Networks (NNG) delivered an early Christmas present to anybody that might have shorted them when I highlighted them around this time last year - price then, ~120p. With a simply fantastic sense of market-timing, they announced an hour or so ago something of an emergency placing at 15p to provide working capital and shore up their fast deteriorating balance sheet. I guess the massive discount was the only way they could persuade Evolution to underwrite it...

I suspect pickings in general will be much better next year.

All the best,

Alex