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Enjoy your trading!
Just a reminder to those of you who just read this bit and aren't the slightest bit interested in my life up above (I don't blame you) I'm taking a break from updates and the next will be friday May 6th. Meanwhile I am just packing for a holiday to the States.
So it's pretty pointless me saying anything much about the main market! Except for now it seems settled but 6100 remains pretty strong resistance.
When I go on hols I do take my laptop, however I try hard not too trade much, after all it is a holiday!
I bought one or two from my seminar shortlist.
I bought Avon Rubber (LON:AVON) - (Try not to get too excited. I gather those into rubber are rather excitable).
It's got two divisions, a dairy one which is solid but unexciting - but it's the defence division which could take off.
It looks mighty cheap after its last excellent set of results. Profits are flying. Indeed if analysts forecasts are correct it is going to look extremely cheap soon. Downside? Well, the US government might delay its spending, so it is possible a trading statement due soon could be downbeat on that score pushing it down to support at 200. However I will take the risk and consider this a long-term buy for a potential double over 1-2 years. Target 450 stop 170. I got 2,500 at 229.
I also bought 1,000 IPEL(LON:IPEL) at 310. I tried to get them live at the seminar at 285 but couldn't get any so bought them on Monday instead. A bit higher, darn it. A real turnaround story. Would not have touched it with a bargepole before last results because of the high debt but the debt has whacked down to a reasonable level while profit has stormed up. Nice.
And I made a spreadbet in Mondi (LON:MNDI) - this came up on a scan at the seminar, looks a great business and a lovely uptrend so bagged a £10 spreadbet at 582.
As I said in the last update I was looking to top up on weakness in Capital Drill (LON:CAPD) well there wasn't much but topped up anyway getting a further 4,000 at 96.7.
CAPD has already made me a quick 25% bouncing from my buy at 80. Its recent strong statement could see it go even further, especially if it comes up with more contract wins. I think this underlooked share could get to 120 and even 150 longer term. So unless a question mark appears both buys are in for the longer-term rewards.
I've sold IG at 376.9 to bank a profit of £931. Had a good run with it but it is struggling to go higher for now.
Also sold Innovation (LON:TIG) at 16.25 to bank a £852 profit - again this one seems happy to sit around the same price for now.
I took profits on the Ocado (LON:OCDO) short at 218 on the basis it was rising very fast. I got caught out by this last time I shorted it so I just wanted to get the profit banked. Profit is £440. It still looks like a short but again not going to fight the market on this one.
So a profit banked for the site of £2,223.
Some recent buys are shaping up well. Avation (OFEX:AVAP), Harvey, London Cap (LON:LGC) are all nicely ahead.
Another star is recent top up Alternative Networks (LON:AN) which continues to move gently higher. A lovely share off the radar which shows little sign of stopping. And up again today! Smashing profits here now.
Volex (LON:VLX) has moved back strongly from its 240 support area. 300 might take time to reclaim, The recent Dignity (LON:DTY) short is now in profit.
I try not to buy companies that will lose me a chunk overnight. You know it could happen with a small oil company, that's the risk you take. However with Cpp, I never imagined it. Indeed I barely remembered I had it on a spreadbet as it hardly moves. But today it fell on what seems like some kind of dodgy sales dealings. Shareholders will be fuming. You don't mind taking a hit on high risk but not on what seemed a low risk business making money. I'm not fuming myself... It's fine: this is going to happen once in a while and it's a business expense. And only a small one really overall. Normally I would sell and take the hit. On this occasion though the sell off looks totally overdone so I bought again on the spreads at 129.5 instead. I know: something my book would suggest not to do. Just call me a hypocrite, I don't mind... But if the company is telling the truth now that it claims it's a small part of its business then it should head back to 200 at least and a broker reck
ons fair price now about 230.
Kofax (LON:KFX) is off its yellow after a strong move over 500. 525 looks the next area to conquer. An institution has picked up a big stake here.
Great news from Kentz(LON:KENZ) which is going to move to the main market and about time. Once it does will get some in my ISA. Until then happy to hold in a spreadbet where I'm in profit by over £5.000.
Micro Focus (LON:MCRO) dipped and then rebounded. Dialight (LON:DIA) holds 700 well. It said last week its pension scheme has been bought out at a better price than thought which has given the shares a new lift. The website holds profits of nearly £40,000. In reality, as those who've come to seminars have seen, my profits actually way greater than this. I'd expect to continue to be patient and would hope to see a tenner maybe by year end. Potential as a bid target too.
Filtrona (LON:FLTR) still can't get over 3 quid. Star mover Xp Power has kept its value well and looks like it could take it to 2000! I bought this one at 164 a year and a half ago with a profit of £15,000 plus. It goes to show if you can hold the good ones for a bit and resist the take profits temptation it can pay off big time! Right now it seems to go up or down 100 points a day.
Character Group (LON:CCT) has recovered nicely after its strange move down, maybe spreadbetters being forced to close. Yule (LON:YULC) at last looks like it has bottomed and seems very undervalued. Needs to close above 200 a few times. Devro (LON:DVO) has moved smartly higher this week, it produced another fabulous report recently and it remains a brilliant long-term bedrock with great profits already and I think more to come. Can it push through 300?
African Auran (LON:AAAM) is rising very well again after a dip. 300 seems the barrier It's confirmed it will split into two separate companies sometime soonish. Up more than £4,000 now and a lovely near trebler. I think I will stick with it. Continued excellent statements and possibly more to come. Indeed one broker is targetting 400 which would give me a four timer!
Entertainment One (LON:ETO) continues to be a star performer, it has got hit a little by the downturn but I suspect is is overleveraged spreadbet forced selling that has done it. Profits close to £5,000. It's raised some more money for acquisitions and it announced institutions have really backed the placing at 160. I would not be surprised to be still holding this one in a year's time.
Microgen (LON:MCGN) has held its own throughout and some lovely profits of more than £20,000 for the site. What a lovely share this has been since I bought it live at a seminar at 45p. It hasn't budged during the turmoil.
Oil gamble Cadogan (LON:CAD) has risen quite nicely and sits a bit higher for now. Seems happy sitting in a 35-42 range for now. Waiting some news soon. Of course it is a gamble and could just as easily skid down as hike up.
888 (LON:888) has recovered well but 45p is now a hurdle. Exillon (LON:EXI) keeps producing good drilling reports and did that again yesterday. It's raised loads of cash at 400p which shows it is being widely supported. Should go a lot higher and might become a core holding. AZ electronic is still a bit weak but holds around 250. Telecom Plus (LON:TEP) is always a lovely share to have in a savage sell off. It It has made it onto the FTSE 250 reserve list. . Website profits are up and over £25,000. This is also my big dividend earner which brings me cash of more than £15,000. Trading update is due this week.
The Vitec Group (LON:VTC) has held well. Petrofac (LON:PFC) came back on middle-east worries but remains a core hold. Though easy for me to say that as I bought in the 350 area. Together with spinoff Enquest (LON:ENQ) sees me sitting on profits way in excess of £30,000.
Right I must away to Florida. I'll be gone for a while but back again May 6th. Enjoy your trading!
