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I'm being very cautious about this summer
Well, no change generally, it still sits in that 5800-6100 range. But the bottom of the range keeps hoving into view so it wouldn't be a big surprise if we saw a bit of a temporary lurch down. It's tried to get below 5800 today but just managing to stick around there.
However those in the right individual stocks could be doing rather well right now as there are lots of companies producing very decent reports. So even if the main market falls I think some companies will still do fine, especially those outside the ftse 100.
I stick to my main plan which is to cut anything that starts to lose pretty quick especially if it was risky anyway and hold or top up on the ones going well.
However in general I'm being very cautious about this summer and staying clear of anything that looks too volatile or risky..
I've bought into Molins (LON:MLIN) getting 2,000 at 97.9 and 3,500 at 99.9. These look so cheap and I'm hopeful of a good increase from here. Excellent fundamentals and plenty of cash should at the very least give little downside and anything even slightly ahead of expectations would give potential very good upside.
I was kind of hoping it would fall back to about 85p however it found big support at 94 and I bought as it looked like turning up again. Target 150 stop 84. It's just cracked 100 and if it finds support there is could go nicely higher.
I've also bought some Macfarlane (LON:MACF) - an overlooked engineer - it's bottomed around here and directors have been buying this week so I've hopped on this morning getting 15,000 at 26.75. Not great timing as I could now get them at 26.5 !
Still, with the bottom looking in place for Macfarlane, there could be a nice 20% upside for me here intitially so targetting where it's peaked before at around 32p.
I topped up in Harvey Nash (LON:HVN) - already in great profit but the breakup to 90p looked very strong so I got another 5,000 at 90.9 . If it can break 100, it could have a nice bash at 110. Anyhow some very strong buying going on in this one.
On the spreads I got some Genus (LON:GNS) with a tenner at 984. Difficult to describe this one without sounding rude, well it is bull sperm we are talking about. You need a bit of spunk to buy this one as it looks a spot over at first look however the market in China looks to have unstoppable growth and so I'm in. Target 1200 stop 940.
I've just had a lovely near double on Dawson (LON:DWN), I got 60000 at 9.8 because of the bid prospects looking good and the bid went through at 17.7, I've sold at 16.9 to bank over £4,000. But I shan't take any credit for this for the website as this happened between updates.
Rgo (LON:RGO) kept falling, the break below 130 didn't look good and I exited at 123 for a loss of £350 and 122 on the spreads for a loss of £315. Best to exit risky aim stuff fast if they start falling.
I got out of Pace with a nice profit. It has a respected new head cheese but with a bid looking unlikely for now and with it nicely reaching my target it went at 116 for a profit of £1,150. All in all Pace has been pretty good to me and I expect to be back in there at some point in the future. I suspect eventually it will be bid for but it could go lower first. I've released Cineworld (LON:CINE) at 208.5. It's done little since I bought months ago and doesn't seem to want to go higher for now, even with broker upgrades. I may re-visit later this year. Profit is £138.
That's a profit banked for the site of £613 inching the total closer to the magic million and the end of the site..
PORTFOLIO HIGHLIGHTS
Telecom Plus (LON:TEP) - my biggest holding by some way .. continues to soar. It got a surprise instant promotion to the FTSE 250 late last week. Forth Ports (LON:FPT) came out after the bid for it and Telecom Plus got in from the reserve list though no-one seems to have spotted this, indeed it appears to have pretty much gone unreported. This has seen the share price go higher as funds buy in. I reckon these will be in the FTSE 100 in 7-8 years time. In the meantime, bar a black swan event, they ought to simply keep rising over time.
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.
Carclo (LON:CAR) has reported - this is a nice long-term hold where I have doubled my money. At first glance it looks a bit overvalued, however it has got such huge growth prospects with its CIT technology. I especially liked this bit buried away in the statement: " We have received an early nomination for a new concept smartphone. We expect to achieve first production before the end of 2011, and volume of production to increase rapidly thereafter. Planning is well advanced for production scale-up, with key equipment already on order."
If all goes well Carclo could easily treble over the next year or two and I hold tight!
Also reporting was Alternative Networks (LON:AN). A fantastic report, profits and dividends just keep rising here and I ignored some small profit taking and continue to hold these amazing shares. I would expect them to hit 400 within a year.
And results too from Volex (LON:VLX) were very impressive, superb profits here now as the sharess attempt to push over 350. Debt has come right down which is brilliant with profits and dividends nicely higher. It's been a tremendous share.
Also results from Hyder (LON:HYC). These looked good too. Very nice profits for me here and I've been patient. I an wondering whether to take some profits but waiting to see if it can crack 400. If it can I may stay with it.
And Capital Drill (LON:CAPD) reported three good contract wins today and another from BH Billiton (LON:BHP). Continues to look a nice long-term hold ignoring short-term fluctuations.
Recent trades all go well enough. Gresham Computers (LON:GHT), Hiscox (LON:HSX) and Electrocompents (LON:ECM) are all a little higher.
The short in Linkedin (NYSE:LNKD) is going very well indeed with profits of over £2,000 already! It is shortable again with Tradefair who I used. And the Mothercare (LON:MTC) short remains in a good profit. And the Glencore (LON:GLEN) short goes okay too. (Shorts mean I am betting on them to fall).
Entertainment One (LON:ETO) doesn't seem to want to go higher for now even though it 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 (LON:LRD) has proved disappointing so far but could still turn into a profit.
London Capital Group (LON:LCG) continues to climb slowly but surely. It 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.
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.
Loq (LON:LOQ) has broken out nicely today, patience is paying off and I am close to doubling my money on it.
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. 450 might become support, it has today.
MS International (LON:MSI) couldn't manage to hold the higher level, still will be patient. It rose again yesterday. Recent spreadbet Croda (LON:CRDA) has soared this last week and goes very well now indeed as does recent buy Avon Rubber (LON:AVON) Already up more than 30% since buying recently, it has support now at 300.
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. It's weakened a bit to 400 but that is good as dying to get some in the isa! Character (LON:CCT) 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. It went ex div today. 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.
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.
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) tries to conquer 60.
AZ Electronics (LON:AZEM) fell on a placing but recovered nicely to leave me with a very sound profit so far.
