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Well, they continue to do pretty well
Well, they continue to do pretty well. However if you take a look at the chart of the FTSE anyone can see how 6100 is a massive barrier.
It would be really tempting to go short around 6100. But there is another side to it: a real break up through 6100 could actually see the market booming, surprising as that would be.
Which goes to show one should always be wary of guessing what might happen next with an index (unless you are a very good day trader where it's just the next few minutes that matter).
Though you gotta laugh at the press headlines "ftse hits 6000". Doh! It's been around 6,000 for ever. (It was 6,000 last year - and in 1998!) In fact you could easily argue markets haven't really risen at all for a decade or more.
Anyway plenty of reason to tuck into profits for ftse 100 traders with Portugal worries and China raising interest rates. Which is the excuse for the profit takers today.
Interestingly though the shares I deal in don't seem to be much affected by the top 100 companies for now.
I got back into Croda (LON:CRDA) again which has been great for some spreadbetting profits as it moves fast, this time I nabbed a tenner at 1848. Fine company this and it is really going well and I think would be no surprise to see it taken out to a bid.
I do have the very occasional gamble and bottom fish for fun. If it works, fine. If it doesn't, I can stand the loss and it makes life a little more entertaining.
So for a wee gamble I've gone for Filtronic (LON:FTC) getting 20,000 at 22.3p. The share price here has been hammered, down a massive amount recently after losing a major contract. It's a company in transformation, losing its old business and customers and going into a new one. Any benefits from the new one will take time so this is a toe in the water from me on the basis things should improve next year and will probably stick with it for a while unless really big new question marks come up. It is risky though but maybe the reward will eventually outweigh the risk. Patience too might pay.
I think 888 (LON:888) looks worth a go again. This gambling outfit is unlikely to be around for much longer and after Ladbrokes (LON:LAD) quit, my guess is someone will bid 50-60p for it sometime this year. So a buy and hold on bid prospects for me epecially as it's probably worth 30p on current financials anyway. I'm in for 15,000 at 33. I reckon Party Bwin wotsit weird name looks the likely bidder.
I end the buys, or at least the top ups with one of my real favourites, Kentz. (LON:KENZ). This brilliant oil services company has made me some lovely money over the years. The sad thing is as an AIM stock I couldn't get it in my ISA and so have only been able to spreadbet it tax free.
But it moves to the main market on the 22nd July and I expect to buy more from my ISA. My guess is though it will continue to go up before the actual move and I bought yet more on a spreadbet, £30 at 440.
I seems to have some odds and sods of shares that just aren't doing much and so looking at flogging some of these off to use the cash elsewhere.
Three of these gone are Macfarlane (LON:MACF) at 26 for a loss of £112, the final bit of Zotefoams (LON:ZTF) at 150 for a profit of £252 and Norcros (LON:NXR) at 14.5 for a profit of £847 .
I kept lowering the stop on Linkedin (NYSE:LNKD) and it got hit at 74 for a profit of £2,800. It did go as low as 63 which is a shame I missed that but the stop got me out at a profit there without me having to keep an eye on it. Just as well as it is going up now and looking for a reshort!
Finally I kept lowering the stop on the Mothercare (LON:MTC) short and that ended up with me getting taken out at 405 for a nice profit of £720.
That's total profits banked for the site today of £4,507.
HIGHLIGHTS
My two lovely bids Charter and Laird (LON:LRD) continue to soar as expectations with both of them are the actual final bids will be higher, perhaps 220 for Laird and 850 for Charter. Profits on them both in real life are knocking over £15,000, and for the website over £10,000.
I suspect both will go for a little higher and it won't be long I hope before I can actually bank these great profits.
Recent buys go well. Especially Dominos Pizza (NYSE:DPZ) which is already 30 pts higher though surprisingly volatile. Aegis (LON:AGS) is up a bit too, that one is slower.
The two oil plays Coastal Energy (LON:CEO) and Aminex (LON:AEX) have both risen nicely and would have thought more to come from both in time. Inmarsart (LON:ISAT) came up on a screen for shorts at the seminar. This share is not a happy one and isn't even going up on up days so I've shorted for a tenner at 451 targetting 400 intitially then maybe 350.
Supergroup (LON:SGP) has proved super with a nice 150 points rise since I bought, the question now is whether to take profits before the statement due in a few days. Tricky one.
Given a rising market and a rising tide lifts all boats the two recent shorts aren't so good: Ocado (LON:OCDO) incredibly has gone up. Can't be long before it tanks properly. It looks to be like it is being held above the float price artificially. And Inmarsat is a little higher, but I'll stick with both for the moment but also mindful it's usually better to exit shorts fast in a rising tide.
Oxford Instruments (LON:OXIG) goes well as it heads above 900. Hoping for at least a tenner there.
The wonderful Microgen (LON:MCGN) continues to go higher (and ignored by all private investors except me, not an exciting enough name!) It 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.
Ms International (LON:MSI) and Latchways (LON:LTC) have both climbed nicely - a touch lower today but I remain there as think there is more to both of them in time.
Long-term slightly boring hold Bioquel (LON:BQE) seems to be picking up new contracts and slowly goes higher. Exillon (LON:EXI) my energy play has jumped higher this week after another encouraging well report. Also Porvair (LON:PRV) came up with good figures, I have doubled on that one now.
Telecom Plus (LON:TEP) as I suspected has gone quiet between 600 and 700. Day to day price action doesn't interest me and indeed I hardly ever glance at is as I think I'll be selling these shares one day in the 1500-2000 area. Just a question of waiting. Website profit for the shares must be well over £30,000 though I'm too lazy to add it up. Profits in real life are nearer £150,000.
Alternative Networks (LON:AN) heads back up after the profit takers have done. This one I feel is a bit like Telecom Plus (LON:TEP) were barring an exceptional event it ought to carry on higher with profits and dividends just keep rising. I would expect them to hit 400 within a year.
Volex (LON:VLX) held very well when the market tanked and that is a good sign. it's on the rise again. Hyder (LON:HYC) has pushed on over 400 so resisted the urge to bank some nice profits. Capital Drill (LON:CAPD) has started to rise again and keeps announcing contracts. A nice rise yesterday. Continues to look a nice long-term hold ignoring short-term fluctuations.
Gresham (LON:GHT) is quietly still going higher under the radar! It's gradually lifting unnoticed by the market, which is fine by me!
Entertainment One (LON:ETO) tries to rise but 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.
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. Electrocomponents (LON:ECM) has been disappointing and it's heading towards a yellow.
Dialight (LON:DIA) can't crack the 750 though support in the low 700s. It is expanding into Japan. 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.
Similar story with Carclo (LON:CAR) this is a nice long-term hold where I have doubled my money. Avon Rubber (LON:AVON) holds well, already up more than 30% since buying recently, it has support now at 300 but testing that today.
Affero's (CVE:AFF) report yesterday was liked by the market and it's headed back up, could go a lot further. Together with my free shares it goes back into a pretty decent profit even taking into account the loss on the top up.
Yule Catto (CVE:AFF) has some bid stories swirling around, as usual best to take with a pinch of salt though this seems to have got it over 230. Obviously I hope the bid story at 350 will turn out to be true!
Another good statement from BTG (LON:BGC), long-termer continues to look good has nicely doubled and looks strong this week after another good statement.
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.
