One analyst calls a tirade from Barstool Sports founder Dave Portnoy – in which he calls famous investor Warren Buffett “an idiot” and day trading “so fu&*ing easy” – a strong indicator that markets could be about to turn.

“What do you do if you listen to old man Buffett? Get out of the airlines. What an idiot,” Portnoy says.

“Unbelievable, all I do is make money. This game is so f**kin’ easy, literally the easiest game I’ve ever been a part of. I’m just printing money.

“I’m up $290,000 on the day and I’m mad as hell, because I’ve sold so much of my airlines because of you ‘take profits’ people.

“Why take profits when every stock, every airline goes up 20 per cent every day? Losers take profits; winners push the chips to the middle.”

Gary Evans of the Global Macro Monitor blog compares Portnoy’s outburst to US economist Irving Fisher, who famously said stock prices had reached “what looks like a permanently high plateau” just prior to the Wall Street Crash of 1929.

Frame it, Evans says, “… then run like hell.”

The ASX dipped in early trade Wednesday before staging a recovery, which follows a mixed day on European and US markets. The ASX200 was up 24 points – or 0.39 per cent – to 6,168.9 points by 12pm EST.



Here are the best performing ASX small cap stocks at 12pm on Wednesday June 10:

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IMC Immuron 0.365 339.76% $64.7M
SGO Stream Group 0.05 138.10% $11.9M
XPE XPED 0.002 100.00% $1.8M
VAL Valor Resources 0.003 50.00% $3.8M
DHR Dark Horse Resources 0.003 50.00% $5.0M
GID GI Dynamics 0.007 40.00% $9.2M
HCD Hydrocarbon Dynamics 0.044 33.33% $11.4M
VKA Viking Mines 0.009 28.57% $2.2M
GBP Global Petroleum 0.014 27.27% $2.2M
8CO 8Common 0.092 24.32% $13.5M
1AD Adalta 0.099 22.22% $13.3M
BLV Blossomvale Holdings 0.06 20.00% $3.7M
OPL Shareroot 0.15 20.00% $4.4M
AZI Alta Zinc 0.006 20.00% $13.2M
WBE Whitebark Energy 0.006 20.00% $18.2M
HSC Homestay Care 0.006 20.00% $10.1M
CE1 Calima Energy 0.006 20.00% $12.9M
PGY Pilot Energy 0.026 18.18% $2.8M
FSG Field Solutions 0.033 17.86% $16.9M
CXX Cradle Resources 0.055 17.02% $10.4M
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Dual-listed Diarrhoea fighter Immuron (ASX:IMC) got a case of the runs with a ~340 per cent gain on no news. This followed a colossal, +800 per cent rally of its US-listed shares yesterday.

The stock is currently in a trading pause.

Struggling microcap insurance software provider Stream Group (ASX:SGO) also jumped +130 per cent after announcing a substantial 2c per share dividend.

Gold explorer Dark Horse Resources (ASX:DHR) gained 50 per cent after successfully renegotiating a payment to vendors for the Cachi gold project in Argentina.

Biotech AdAlta (ASX:1AD) has Human Research Ethics Committee (HREC) approval to commence a phase one clinical trial of its lead product candidate, AD-214.

AD-214 is being developed to treat Idiopathic Pulmonary Fibrosis (lung disease) and other human fibrotic diseases.

The stock was up 22 per cent.



Here are the worst performing ASX small cap stocks at 12pm on Wednesday June 10:

Swipe or scroll to reveal the full table. Click headings to sort.

ANL Amani Gold 0.001 -33.33% $6.8M
NEW Norwest Energy 0.003 -25.00% $14.2M
AEV Avenira 0.01 -23.08% $4.4M
CTO Citigold Corporation 0.004 -20.00% $10.4M
SER Strategic Energy Resources 0.004 -20.00% $3.8M
YPB YPB Group Ltd 0.003 -16.67% $3.4M
SLX Silex Systems 0.48 -15.79% $82.9M
HLX Helix Resources 0.011 -15.38% $5.8M
LCK Leigh Creek Energy 0.11 -15.38% $63.9M
ABT Abundant Produce 0.034 -15.00% $1.4M
OSP Osprey Medical 0.012 -14.29% $15.4M
AHL Ahalife Holdings 0.006 -14.29% $5.6M
FFG Fatfish Internet Group 0.006 -14.29% $4.9M
JXT Jaxsta 0.025 -13.79% $6.8M
MCT Metalicity 0.013 -13.33% $18.1M
AQI Alicanto Minerals 0.062 -11.43% $15.7M
AMD Arrow Minerals 0.007 -12.50% $6.8M
TNR Torian Resources 0.028 -12.50% $11.9M
OKR Okapi Resources 0.14 -12.50% $5.1M
ADX Adx Energy 0.007 -12.50% $12.0M
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