Good morning! I'm starting to worry a bit about the outcome of the General Election, so have opened up a short position in the FTSE 100. Yes, I know that most of the FTSE 100 earnings are now overseas, so it's not a very good proxy for UK earnings, but the election outcome is more about sentiment than earnings. People are (rightly) starting to worry about a weak Labour Govt being propped up (i.e. held to ransom) in coalition with the Scottish Nats.

Casting my mind back to the 2010 election, I recall that the big worry then was the risk of a run on the pound, and Gilts. Here we are, with the National Debt far higher, and nobody seems to be worrying any more. There again, economic recovery seems fairly well established now, when it wasn't in 2010.

I won't be adjusting any of my long positions, as it's too expensive with small caps, to trade in & out, due to the wide bid/offer spreads. So having a short on the FTSE 100 will help me sleep at night, and will provide a cash buffer if the market as a whole does go into panic mode. After all, you need cash to be able to buy at the bottom.

I wonder if other people might now be reluctant to open any new positions until the General Election uncertainty has passed? It could throw up some interesting buying opportunities, if good companies drift down in price due to a buyers' strike.

Laura Ashley Holdings (LON:ALY) issued their results mid-afternoon on Friday last week, which was a bit of a nuisance, so I had to do a write-up on them here. Also I slotted in another interesting company, OMG (LON:OMG) - I hold long positions in both, as is always disclosed within each section of each report - and I think both look excellent companies, so if you haven't seen that report then the link is here.

Getech (LON:GTC)

Share price: 60p (up 12.5% today)
No. shares: 30.3m
Market Cap: £18.2m

Contract win - this is an interesting one. The company says it has won a contract with a national oil company, but on closer inspection it sounds as if they have actually made it onto a preferred supplier…

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