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It's been a while, I can hardly remember how to write an update... How do you write?
Right, it's been an age since the last update. In fact this morning I groaned because I realised I was going to have to trawl though loads of trades. I''m still groaning now.
And groaning even more as I fell off my bike (idiot) and damaged my wrist which means I am painstakingly typing this with my left hand only. (No jokes please) So comments are shorter than normal and apologies for any mistakes. It ought to heal up over the weekend here's hoping. Glad I wrote the rest of the site before it happened otherwise not sure I could have done this at all.
In the main, it's been pretty good though the market itself has become volatile and difficult again. Some of the very small resourse stocks have been hit by falling commodity prices and serves as a warning to investors not to just load up with these in their portfolios. A balanced portfolio is a must or else you can lose a lot of your capital.
However have you noticed the ftse simply trades from 5800ish to 6100ish? It hasn't really actually moved much this year at all. (Looking further out neither has it done much this decade!)
As usual I've held onto the good ones for more, got rid of things that were going down, issuing warnings or looking ropey. I've added some positions and one or two newbies. Actually, all in all I probably overtraded something I'm trying to put right.
My best ones have carried on going up, my dodgy or unsure ones have been ruthlessly axed. Bit like Bin Laden (except best not to wait ten years). or in other words I have done a massive spring clean over the last few weeks, as I have done in other years.
Buys first.
I've bought 3,000 MS International at 180. (LON:MSI) A funny one this. It has a steady but unspectacular business however it's the defence side that interests me. It appears to be growing strongly. Its statements are hilariously short usually and it doesn't exactly shout from the rooftops so I take the recent statement a "strong second half turnout" as being really bullish!
The really good news is the head cheese has put his money where his mouth is and bought a massive 150,000 shares himself at just under 2 quid and one can still buy cheaper than he did. The next report could be really good and with its cash and good fundies I am hopeful of a run up to the 300p area. Target 295 stop 155.
I topped up in Micro Focus (LON:MCRO) at 261 for £20 on a spreadbet on a dip (price was higher in the market but the spreadbet includes the upcoming dividend already) - on the basis the head man going was good news for a potential bid as the papers reported he was an obstacle. Since then they confirmed a bid approach. It might not happen so it's in gamble territory. If it does happen I suspect it'll be in the 420 area.
I couldn't quite resist a top up of AZ Electonics (LON:AZEM) getting a further 1,000 at 246.9. Plenty of potential here, some risk too but I think worth taking. Target 320 stop 220. It said yesterday things were going well and any impact from Japan is negligible. So a nice topup on oversold. If it can head above 300 it will look very bullish but could prove a barrier.
I got a few 600 Group (LON:SIXH) 15,000 at 30.7. Just looks an overlooked and undervalued engineer with potential very good upside in time. Might need some patience but that's something I do have! target 40 stop 26.
I love "ahead of" statements. I topped up on a very bullish statement from Treatt (LON:TET) where I am already in at 340ish with a new top up of 1,000 at 386.61. This chemicals company is going really well and I loved the bullish statement. Looks like it has further to go and I'm looking for somewhere near a fiver. T 500 S 330
Onto spreadbet, I also got back into Croda (LON:CRDA) at 1693 for a fiver and so far so good.
Here is the result of the big spring clean clearout, probably bigger than last springs cleanout. One of the main reasons is I am planning a peaceful and relaxed summer and want to be free of any worry about too much risk or volatility. So I have made things more defensive. Generally axed was anything that produced a warning, uncertainty or I became worried about or anything that looked too risky for the ISA and anything I felt was going to take time to monitor over a lazy summer. And a bit of profit taking too. And I cleared out some resource stocks which have been weak and look set to be very volatile this summer with the oil price crazy and perhaps valuations even crazier.
Alterian (LON:ALN) axed at 155 (warning) to take an overall profit of £4,122. 888 (LON:888) went at 45 for a loss of £53 - missed the chance for a nice profit as it bubbled up to 51. Emed (LON:EMED) went at 15.75 for a loss of £220. Asterand (LON:ATD) sold at 14 for a profit of £904. Kofax (LON:KFX) went at just under 480 for a loss of £249. (All too risky and were sliding)
Onto spreadbet sells. Cpp (LON:CPP) went in the end at 140 11th - it did get to 170 first but fell off again and I felt it wasn't worth the risk of holding any more but I made a little back on the average down. An overall loss of £2,585. I took profits on Filtrona (LON:FLTR) at 351 for a profit of £560. I took profits of £1,155 on the ftse short at 5871. Missed the bottom by miles. Encore (LON:EO) has gone at 111 for a profit of £270. Afren (LON:AFR) is out at 159 for a profit of £255.Shorts in Home Retail (LON:HOME) and Dignity (LON:DTY) didn't work and went at 208 and 747 respectively for losses of £ 240 and £55.
All of which profit minus losses gives a profit of £3,864 for the site.
That now leaves me with a strong lot of shares I can relax with for the summer. And I have a nice list I want to buy on any big weakness with plenty of cash to pick up shares on any really bad days of fear.
Portfolio Highlights:
Recent buy Avon Rubber (LON:AVON) goes well and this week reported a good increase in profit and also a pretty good outlook, so on that basis happy to remain holding. Already up more than 20% since buying before the hols.
Capital Drill (LON:CAPD) has become a nice star performer. Glad I topped up, while I was away it announced some very decent contract wins, and one with the mighty BH Billiton (LON:BLT) which has got to be very good news for the future. I mark this down as a longer termer which could produce fantastic returns.
Alternative Networks (LON:AN) continues to move gently higher. A lovely share off the radar which shows little sign of stopping. Smashing profits here now. Would suspect a plateau here at 240 before onwards to 300.
Volex (LON:VLX) has moved back strongly and regained the 300p level providing some good profits. Kentz (LON:KENZ) goes from strength to strength and 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. Heritage has been coming back a lot - have taken some profits on it in the past and also had the 100p dividend but just about holding onto my last bits of it.
Character (LON:CCT) has been very disappointing but I looked at it afresh and it just appears so cheap I'm sticking with it despite it hovering at stop levels. In fact really I am considering buying more at the cheaper price. 2 Ergo (LON:RGO), same comment.
London Capital Group (LON:LCG) has stormed higher and making excellent profits there now, I think there is still more to come.
Dialight (LON:DIA) holds its recent rises well and 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.
Yule Catto (LON:YULC) has at last picked up after some poor days and looks like it has bottomed at 200 and seems very undervalued. Devro (LON:DVO) produced a decent enough statement while I was gone and remains a good long term hold. Aggreko (LON:AGK) has stormed ahead even higher, what a great business and this is simply one to continue to hold, probably for another year.
African Auran (LON:AAAM) has transformed into two separate companies, Aureus (CVE:AUE) and Afferro (CVE:AUR). Sadly the split seems to have done the opposite of what was intended and the combined price is way lower than when the split happened. Still doubled on the combined price but wish I'd sold before the split now obviously. Right now looks oversold so looking at buying some anew. In fact I just had a look. I really couldn't resist with level 2 looking good and just topped up at 113.5 !
Recent buy Harvey Nash (LON:HVN) goes well and it produced good results. Entertainment One (LON:ETO) profits are close to £5,000. It's come back a tad but 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. BTG, long-termer has nicely doubled and looks strong.
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 holds its value and slowly advances.
E2V (LON:E2V) has been going great guns with super profits. Norcros (LON:NXR) has been a nice riser and it's nearly at target.
Exillon (LON:EXI) keeps producing good drilling reports 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. Good support for this in the low 400s.
Telecom Plus (LON:TEP) website profits are up and over £25,000. This is also my big dividend earner which brings me cash of more than £15,000. Recent trading looks good. Little LOQ (LON:LOQ) holds well at a higher price, still think 2 quid could be achievable, good summer weather will help.
The Vitec Group (LON:VTC) has quietly gone up. held well. Petrofac (LON:PFC) 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 of £30,000. Long termers with great profits like New Brit, Porvair (LON:PRV) etc stay in and Sepura (LON:SEPU) has gone above 50 which looks bullish.
Will write more on the markets next Wednesday when hopefully the hand will have healed. Ouch, my wrist really hurts now.
