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Markets continue to be a bit 'nearly summery' and unsure of things
Markets continue to be a bit nearly summery unsure of things though the 5800 level seems to be holding for now, if it breaks there could be some downside to come. Hey, but hopefully not in my off the radar shares!
But of course we may just remain in the 5800-6100 range in which case the ftse will be a buy in the low 5800s and a sell anywhere around 6000-6100.
I've bought into Gresham Computers (LON:GHT) getting 10,000 shares at 43.7. Love the bullish statements coming from this company. The share price is rising rapidly and with such a small market cap I think there is potential for further very nice rises and would expect to hold these for the medium-term for more.
Potential as a longer-term hold as long as it keeps producing good statements... Targetting 60p initially stop 35.
Onto spreadbets I bought a tenner of Hiscox (LON:HSX) at 414. I confess I know little about how to value the insurance sector - but the chart of this one looks so strong I am literally taking a gamble with it and little more. Target 500 stop 390.
I've also bought some Electrocompents (LON:ECM) on the spreads at 286. Some very decent statements, this company looks extremely strong and if it can conquer the whole number at 300, that would be bullish for a nice run up to the 350 mark.
Both the above would probably get hit short-term if the market turns down so it's possible I might take a quick small loss on them and come back to them at a later date but I'll play it by ear.
There have been a lot of really crappy floats in the last few months the worst of which was Betfair (LON:BET) which I made a fortune shorting.
Two new to my mind crappy floats have come up which were really to me just begging to be shorted, so I did.
First off was Glencore (LON:GLEN). It's massive and will go straight into the FTSE but to my mind the reason it's being floated is those who have made their mega millions out of the float are doing it because they think the commodity boom for now is near the top. And based on that I shorted.
I got a tenner at 531. Spreadbet firms luckily traded it before the official launch. Of course FTSE funds will have to buy in so maybe this short is a bit too early but I'd be surprised if over the summer it didn't fall below 500. Of course I could be totally wrong and it is a gamble. Target 450 stop 570.
I never get involved in USA shares. It's not my scene, and in any event I like to shut off at 4.30 and I don't want to worry about what shares in the US are doing at 9pm...!
However I have done my first (and probably last) which is short the ludicrous Linkedin (NYSE:LNKD) which was given a valuation of something crazy in the billions. Crazy for a company making diddly squat.
Also I'm sick to death of getting dozens of these frigging mails in my box every day asking me if I want to link to someone I don't know. No I don't, life is short and I really have better things to do. Then more emails reminding me about the invitation I didn't want in the first place. So I must admit to some pleasure in shorting it.
I didn't think I would be able to short but was delighted when I typed the company into Tradefair and there is was, I could short! So I did. Quite honestly having never done US shorts before I wasn't totally sure about the staking but as Tradefair seemed to kick off with 0.5 I started with that then cautiously edged it up. So I have a short of 1 at a tad under 102. I'm too lazy to figure out the staking but right now I'm in profit by a bit so we'll see. I guess it if heads over the 106 figure and more I've got it wrong for now and take a small loss.
I tried to short it a bit more this afternoon with Tradefair close to 100 but it came back with "This share is prohibited from being shorted". No idea what that is about but hey I already shorted it so there! Possibly it's because the Americans maybe give a new issue a few days before it can be shorted.
If that is so, then I would imagine once people can short properly it ought to go down?
I was forced to sell 600 Group (LON:SIXH), well pretty much. It said it was moving to the aim market from main and so i would have to sell the shares at some point soon anyhow as they are in an ISA so I sold for 34 for a profit of £495. (Aim shares aren't allowed in Isas) . I suppose they're doing it to save money but I prefer moves the other way. Also all Isa holders will have to sell up so there is bound to be selling pressure. However I suspect once it is moved to AIM it will probably be a good buy at a lower price for outside an isa. Though I will just move on and leave it alone especially as it's a bit of a mean thing to do to your patient Isa holders to force them to sell and buy back. Boo, hiss!
I sold e2v. It's reached the target and on looking at it again my view is that's probably about right for now so I am out at 130 for a profit of £2,928. That's a total profit banked for the site this week of £3,423.
PORTFOLIO HIGHLIGHTS
Wow, a really excellent statement from Telecom Plus (LON:TEP) - my biggest holding by some way .. I have very roughly about £200,000 of these shares for the slow steady increase in capital and the big dividend which brings me a good yearly income. Website profit for the shares must be well over £30,000 though I'm too lazy to add it up.
Profits up to near £28m, and a fantastic new deal with N Power which is even supplying them with £3m of promotion money so they can offer customers in their first year an addtional 10% off their gas and electricity bills. The outlook for growth is terrific: it can offer a low cost package of utilities and telephony all on one monthly bill and with a cashcard offering discounts, 10% off for the first year and various guarantees on being the cheapest for energy and telephony, including mobiles plus improved margins means this to me looks like a long-term hold for many years and I believe the shares will double from here over time while remaining a nice sleep at night share even if the market tanks.
On top of that, entry into the FTSE 250 could be on the cards later this year as it grows. So a very happy holder.
Please note re the above I have been a distributor for many years and I'm a big fan of the management!
Entertainment One (LON:ETO) came up with an excellent statement, Peppa Pig is booming in the USA and it looks alike a great share to hold onto long term. A library worth a fortune too. I reckon it will power up to 200 odd from here in time.
TT Electronics (LON:TTG) hasn't done much for me yet but 200p looks like becoming support. Laird has proved disappointing so far but could still turn into a profiot
London Capital Group (LON:LCG) reported a reasonable start to the year with a good balance sheet and plenty of cash, it has also won a decent contract with TD Waterhouse which has pushed the price up even more, very nice profits building there now. That contract is a good win and along with the fundies the share should I think be gradually rerated up to a quid. I simply think London Capital which also runs Tradefair and some others is under the radar but when it gets noticed I think it will rise quickly.
Shaft Stinker... I mean Shaft Sinker (LON:SHFT) made a fair report, it remains risky but I'll stay with it hoping it doesn't prove a sinker, or indeed, a stinker. I'm in a small loss at present. The Vitec Group (LON:VTC), an unsung hero of the portfolio reported great results and I'm up and over £4,000 profit here. Looks good for a few more points.
Anite (LON:AIE) has suddenly powered ahead with a very powerful breakout over 70p, looks good for more.
Capital Drill (LON:CAPD) holds well above 100p I mark this down as a longer termer which could produce fantastic returns and await a further rerating in due course.
Exillon (LON:EXI) keeps on dishing out good reports. Drilling is going well and worth staying patient with event though I am already up a lot.... Should go a lot higher given some time and might become a core holding. Good support for this in the low 400s. It might well hang about here for a bit though.
My Pace bounce bet is kind of working but I'm nervous about it, some bid rumours are around which I am not sure I believe and one way or another I don't want to hold them for too much longer.
MS International (LON:MSI) couldn't manage to hold the higher level, still will be patient. AZ Electronics (LON:AZEM) shines well. If it can head above 300 it will look very bullish but could prove a barrier. The last couple of days it holds well around 300p and hoping it can break clear soon.. it tries hard again, potential bid candidate I think.
Recent spreadbet Croda (LON:CRDA) goes very well now indeed as does recent buy Avon Rubber (LON:AVON) already up more than 30% since buying recently, it cleared 300 today so here's hoping for a lift up to 350 ish.
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 but it struggles a bit to properly clear 300p. 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. Character remains ultra disappointing but I looked at it afresh and it just appears so cheap I'm sticking with it despite it hovering at stop levels.
Dialight (LON:DIA) has given back a little but 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. 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.
Recent buy Harvey Nash (LON:HVN) goes up again today and now hits well over over 80p. Very nice indeed now. BTG (LON:BGC), long-termer continues to look good has nicely doubled and looks strong this week after another good statement.
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. Up again today, and it has also paid out some nice dividends.
Little LOQ (LON:LOQ) holds well at a higher price, still think 2 quid could be achievable, good summer weather will help.
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 (LON:NBPO), Porvair (LON:PRV) etc stay in and Sepura (LON:SEPU) tries to conquer 60.
