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Robbie has been trading full-time since 2001. His book The Naked Trader has become one of the biggest-selling finance books, reaching the top 150 books on Amazon. Trades made and published by Robbie’s have amassed profits over £600,000. You can read about his buys and sells daily on Proactive Investors.
There, I feel better! Someone else to blame!July 13 2011, 3:58pm
Well, we're heading into the usual summer malaise (probably not the right word but kinda nice anyway) - people are away, market maker offices are understaffed and often there isn't much going on.
This often means shares get more volatile than usual with bigger spreads making it pretty difficult.
In the main given I'm away a lot over the hols I expect to trade sparingly, buying only where there looks like real value and maybe topslicing here and there stuff that has done really well.
Well, I did manage to get a FTSE short on near 6100, I had intended to hang onto it.
But other people are terribly persuasive. That's why I try and avoid Bloomberg, and bulletin boards etc. I try and steer my own course and not worry about what others are up to or forecast.
By Friday afternoon I was a nice £700 up on the short and felt I would probably keep it for a while this week. Then because I was doing a follow up seminar with people in front of me I couldn't help but be influenced, they reckoned take the profits. So I did. What a mistake that was! If I'd held on there was another £2,000 profit there. Thanks, everyone!
There, I feel better! Someone else to blame!
Remember, when you lose on a trade, there is no point blaming the tipster, the magazine, the bulletin board guru, the guy in the nice suit on TV.. you made the trade, you're taking a loss on it and you are the only one to blame.
Of course the FTSE continues in its 5700-6100 range. Buy in the 5700s and 5800s sell and short near 6100 for the time being! Needs to go under 5700 or over 6100 properly for any new trend to establish.
As per usual this year the best time to buy is at the worst moment of panic which was sometime in the middle of yesterday. Maybe this is a new buying plan: Just as you are about to press the sell button, by instead.
In fact, given most people lose, and perhaps if you are losing why not do the exact opposite of what you were going to do? Sounds like a winning idea?
Smith DS (LON:SMDS) looks good value even after a good run - I bought a few but then they went down and with sellers coming in I took a small loss. Looked for a reentry and found it I think getting £20 a point at 247.3 on the spreads (that includes the div). Probably a tight stop as it is influenced by the main market but good potential too for more rises. However a market meltdown and it would sink too.
The Supergroup (LON:SGP) bet paid off well with very good figures today, liked the look of those so surprised myself by increasing my stake by another tenner a point at 940 after the auction even though it was already up a great deal. While it was well overvalued at its peak of 1800, at around a tenner looks good value and I'm looking for a run up to 1200, maybe 1300 and consider it a shorter-term trade.
I shorted Tullet Prebon (LON:TLPR) for a tenner at 375. It's on a pretty continual downtrend so I've hopped on board as it looks like a bit of more downside to come. Probably not a massive amount but I'd have thought at least 350. of course the trend could change and if it did I'd get out for a small loss. Which is kind of what I try and do with shorts.
I've shorted Carpetright (LON:CPR) for a tenner at 650. Like Ocado (LON:OCDO), I can't see why the share price is so high, it's not a great business at the moment and I would have thought about a fiver was the right price.
I've taken massive profits in both my bid target shares. Both because the potential upside left in both wasn't worth the potential downside of bids being pulled. In other words after such big rises it might be a mistake being too greedy for more and in any event there isn't so much more that makes it worthwhile holding further.
Charter's (NASDAQ:CHTR) gone at 828 to bank a profit of £3,130 (Actually nearly £10,000 in real life)
Laird (LON:LRD) has gone at 190.1 and 190 to bank a total profit of £3,458.
Obviously very happy with both those and in real life profit of over £15,000 banked.
Electro (LON:ECM) went at 260 for a loss of £390 - shares were being hit by negativitty in the sector so it seemed best to quit. Two dull spreadbets quit: Homeserve (LON:HSV) went at 505 to bank £110 and Hiscox (LON:HSX) at 420 for breakevenish.
I topsliced a bit of Volex at 329 to bank a profit of £1,310 but keeping most longer-term.
Xaar (LON:XAR) has soared since I bought but though a great company it all looks in the price, so I've sold at 284 to bank a very nice profit of £2982.
That's a nice profit of £10,600 banked for the site bringing the total profits banked since I started to nearly £930,000 inching closer to the £1m mark and the point at which I say farewell.
Telecom Plus (LON:TEP) put out a statement today. It says profits are going to be significantly ahead of last year. And everything looks very rosy there, not much move on the day which is fine as it went ex dividend for 14p today which means a nice fat cheque for over £6,000 is coming my way! And as usual it is unaffected by the main market moves.
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.
Recent buys go well. Especially Dominos Pizza (NYSE:DPZ) which is already 40 pts higher though surprisingly volatile.
It's getting close to target so considering a profit take. Croda (LON:CRDA) has rocketed and already up by nearly £3,000. Gamble Filtronic (LON:FTC) holds higher. The two oil plays Coastal Energy (LON:CEO) and Aminex (LON:AEX) both go reasonably well.
Surprisingly given recent falls the shorts aren't going down! 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 (LON:ISAT) 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 held some decent gains. 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 does ok in a bad week after another encouraging well report. Also Porvair (LON:PVR) came up with good figures, I have doubled on that one now.
Alternative Networks (LON:AN.) heads back up after the profit takers have done. This one I feel is a bit like Telecom Plus 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.
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) has risen a few points. 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. 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. There could be a lot of excitement about Carclo later in the year. Avon Rubber (LON:AVON) holds well, already up more than 30% since buying recently, it is testing support now at 300ish.
Affero's (CVE:AFF) price continues to be nuts and is hard to value, still 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 (LON:YULC) has some bid stories swirling around, as usual best to take with a pinch of salt though this seems to have got it over 220. 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.