LONDON -- For the second day running, Borders & Southern Petroleum (ISE: BOR.L) was the share most frequently bought by stockbroker TD Direct Investing's individual clients between the market's opening and noon. The reason? A 71% fall from Friday's close of 62 pence to 18 pence yesterday, with a further fall of 6% to 17 pence at the time of writing.
Is this a bargain priced to go, or a falling knife set to spear investors foolhardy enough to reach out for it?
David Kuo's analysis yesterday laid out the facts regarding the dry well south of the Falklands that Borders has now abandoned, and he also highlighted which fellow Falklands oilie could be a beneficiary by taking up Borders' now unneeded oil rig.
So perhaps we shouldn't be surprised, then, to see that very company -- Falkland Oil & Gas (ISE: FOGL.L) -- ranked second in the list of shares most bought by TD Direct Investing's individual clients between the market's opening and noon.
And TD Direct's clients sensed bargain prices among the big boys, too. Barclays (ISE: BARC.L) was the third-most-bought share this morning, as testimony from Bank of England governor Sir Mervyn King painted a damning picture of former Barclays boss Bob Diamond's time at the helm of Barclays and Barclays Capital.
According to the BBC, the Financial Service Authority's Lord Turner and Sir Mervyn King had regarded Diamond as "the individual most responsible for an unacceptable culture at the top of Barclays." Sir Mervyn told MPs that "the Barclays board ... was deeply reluctant to face up to [our] concerns."
Just behind Barclays, Aviva (ISE: AV.L) was No. 4 in the list of shares most bought this morning. Investors, seemingly, are brushing aside concerns over the sustainability of the dividend and hoping that asset sales and the exit of former CEO Andrew Moss will herald a turnaround in both the business and its share price.
Finally, out of nowhere, Yell Group (ISE: YELL.L) makes an appearance as the fifth-most-bought share this morning. Why? With no results being issued, no RNS, and no other news, it seems bottom-fishers are sensing that a share on a forecast price-to-earnings ratio of 0.3 -- and which has lost 99% of its value -- may have only one direction to go.
Are they right? Time will tell.
Finally, what are super-investors Neil Woodford and Warren Buffett buying today? We can't tell you that, but we can tell you the names of the shares they've been buying in the recent past -- and why they've been buying them.
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The article 5 Hot Stocks You Bought Today originally appeared on Fool.com.
Malcolm holds shares in Aviva, but has no interest in any other of the shares listed. The Motley Fool has adisclosure policy. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.Disclaimer: The TD Direct Investing (www.tddirectinvesting.co.uk) list of Top Ten Buys should not be taken as a recommendation to buy or sell any particular bond or stock and is not intended as any form of advice. Instead, it is simply an indication of the general buying trends among TD Direct Investing customers during the period stated.
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