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The main thing for me right now is to concentrate on finding good strong companies
Well, here we are with the FTSE around 6,000 as it's been forever. The bulls can't take it above 6100 and the bears can't get it below 5800.
I guess at some point this year it might break either way but you do wonder whether we are rangebound for a while. In fact the ftse really in effect is at the same price it was many years ago.
The main thing for me right now is to concentrate on finding good strong companies, holding onto the winners and continue to get rid or avoid anything too volatile to enjoy my peaceful summer.
Oh and I do like topping up on the winners which I've done with two of them.
As I mentioned last time I had just bought some Afferro (CVE:AFF) and got 2,500 at 113.5. This was spun out of Aureus (CVE:AUE) and went downhill rapidly but in the low 100s I reckon looks a good top up price. As long as nothing terrible happens I'd expect to hold these now for a good while as newsflow comes through. T 150 S 95.
Sepura (LON:SEPU) has turned into a nice profit maker already from my buy at 42. I liked the breakout and topped up with some more yesterday getting nearly 5,000 shares at 55.25. T 80 S 47.
It can be a bit dangerous topping up on one that is already making you good money but this is the kind of share that can carry on rising. We'll see. Certainly there has been some decent buying in Sepura recently.
A bigger company that has caught my attention is Homeserve (LON:HSV). I bought a tenner on the spreads at 492 which includes the dividend so the price in the cash market was around a fiver.
Good strong figures and it continues to put out bullish statements - it's quite a big company, closing in on the 2 billion mark so at some point it could make the ftse 100. It broke out very strongly from 480, I hadn't noticed it at that point but the breakup over a fiver looks strong indeed. Target 550 stop 470.
It's pretty volatile, up and down 10 or 15 points in the day sometimes but I hope with patience and ignoring the volatility I can make a good profit on it.
And I like the look of Laird (LON:LRD) where I got 2000 shares yesterday at 147.6. The price as I write this has gone lower than that today so maybe not such a great entry price. Anyhow It has a whole range of businesses so if one gets hit the others make up for it. The shares seemed to have got sold off on Japan worries but it says damage here is limited to $5m which is small beer for this FTSE 250 company worth nearly 400m. Target 180 stop 130.
I don't normally share shorter-term trades on here, I don't do that many and keep them to myself. But Pace (LON:PIC) produced a horrible statement and plunged below a quid. I did a short-term spreadbet to catch a bounce getting £50 at 92.9. I suspect it could get a little higher - it did say operating profits would still be around £100m so the plunge just looked overdone. I doubt I will be in this bet for very long though as I wouldn't want to hang around for another statement. Needs a change of management urgently. And at this kind of price directors really ought to be buying in to show some confidence behind this angst ridden share. T 115 S 85.
PORTFOLIO HIGHLIGHTS
MS International (LON:MSI) has gone very nicely so far. Be interesting if it can head above 240 which was the 2007 peak. Then my possible 300p target comes into play!
Waiting and hoping for that bid for Micro Focus (LON:MCRO) to go through. AZ Electronics (LON:AZEM) shines well. If it can head above 300 it will look very bullish but could prove a barrier.
Recent spreadbet Croda (LON:CRDA) goes well as does recent buy Avon Rubber (LON:AVON). Already up more than 20% since buying before the hols. Avon Rubber goes up again today.
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. Perhaps after the June results. Good rising dividend too.
Volex (LON:VLX) continues to move much higher yet again and it seems 300p has been conquered. Looks like it could be heading back to the 350 area. 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) hasn't done much since I bought but yesterday announced a decent future might be coming and a good contract win so I'll stay with it though no profit as yet. With a bit of patience though it could be a surprise winner later in the year.
London Capital Group (LON:LCG) has stormed higher and making excellent profits there now, I think there is still more to come, perhaps up to a quid. This year's volatility should really be adding value.
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. Probably just sitting there waiting for the next report now.
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) is trying to get hold of the 3oo level. 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.
However yesterday it provided one of those irritating long winded we'll give you some cash back statements. Why? I hate it when companies do this. It wants to return 56p to shareholders. What a waste of time. Keep the money and use it in the company!!
Aureus and Afferro seem to have bottomed out after the disastrous split. .
Recent buy Harvey Nash (LON:HVN) goes up again today and now hits 80p. Very nice indeed now. 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 this week.
Microgen (LON:MCGN) remains a cracker 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. Exillon (LON:EXI) produced yet another good drilling report today. It's raised loads of cash at 400p which shows it is being widely supported. Should go a lot higher given some time 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 etc stay in and Sepura has gone above 50 which looks bullish.
Will be back with more on the markets next Wednesday
