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They've been nicely up this week. Oh hang on now they're down
They've been nicely up this week. Oh hang on now they're down, which country is to blame today?
It's a bit like the Eurovision song contest. And the country with null points today is ...
Italy. We've forgotten about Greece and moved on to worry elsewhere. Does it need bailing out? If it does where is the cash coming from?
I really just can't keep up with it at all. I've decided all politicians are bonkers and I would suggest for right now it's a case of more sticking plasters. Move the problems on till the inevitable massive crash at some point down the line.
Oh by the way the politicians in Cannes treated themselves to hotel suites worth thousands, paid for by erm couldn't be the taxpayers could it?
The crazy volatility continues, however certain stocks continue to perform well for me so actually it has been a very good week so far. Though at the rate it is going today that might not be the case by the end of the week.
It is almost impossible to trade the markets at the moment so I still think a stand aside and wait policy seems the sensible option. Otherwise the market seems like a giant casino at the mo sweeping up everyone's chips whatever colour they went on.
I continue with a policy of getting rid of anything volatile that starts to go down and prefer to take small losses quickly, however the good stocks that are doing fine, well I am staying with them.
I've made a packet out of New Brit (LON:NBPO) - traded it in and out a bit over the years while keeping a holding all the way from when it was 260 odd which is up over £5,000. It's come back nicely off its high and I felt a good time to pick up new new stick so I got 500 at 805p.
I've also made several thousand on Supergroup (LON:SGP) since it floated even though I never got in anywhere near the bottom or anywhere near the top, I just hitched hitched a couple of very profitable rides on it previously as discussed earlier this year and last.
I noticed a trading statement was due today, thought it looked quite cheap now and also noticed tons of buyers coming in at 600 area so I took the plunge and bought a tenner a point at 600.
It then rose very nicely as the statement was due and today it says its previous warehouse problems are getting sorted and it appears confident (ish) again, given what I see it is probably worth more but nowhere near the crazy heights it got to at one stage. I nearly sold today at 770 but, well, didn't!
Coastal Energy (LON:CEO) has been an amazing share for me. The website trade is close to doubling for a profit of £4,000 so far. In real life I've collected quite a few of the shares between 470 and 750. Given I have quite a few it seems fair to allocate more to the website too so 500 shares added at 728.5
This company simply keeps producing the goods. Its main listing is in Canada so the share price here is mainly unaffected by London buy and sells and just mirrors the main listing price over there. It looks like it is going to at least a tenner as it keeps producing upgrades. Of course given the Canada listing it does often move down when the US markets tank, which is the one downside but overall it is in a super uptrend.
I thought I would never make anything out of the Blinkx (LON:BLNX) short, even though I thought it looked overvalued no point fighting the market I thought and I nearly came out at break even because it just didn't seem to want to go lower, indeed it looked like it was about to breakout which is why I was considering an exit. However it announced a placing today the market didn't like it but I took the chance to take a profit of £320 at 138. Grateful to be out at a profit!
Cape (LON:CIU) produced a surprise not so great announcement. It fell to about 400 early doors and given I'd raised my stop to 430 I expected to get a mail from the spreadbet company to say they'd stopped me out at the lowest price they possibly could. Maybe 395? 386? So I was shocked to get a mail saying I was out at 409.2. A good price (relatively speaking). Well, sometimes miracles happen and that's mine and that ends with a loss of £180. Which is a shame as I nearly sold it earlier in the week for a nice profit. I nearly pressed the button. But not nearly enough.
I then thought how did they get me out at 409.2 when I thought it opened at 400? Then I checked the first few trades and indeed they were at 409.7 - so Tradefair's computer just took the first trade. I would guess normally that would be in its favour and unusually on this occasion it was in mine! I have no complaints this time.
My punt on Homeserve (LON:HSV) started very well indeed. It hit about 340 but then kept falling back , sell orders were loading up on level 2 and I was out at 319 for a profit of £494. I let it fall too much really and should have taken tbe 340. After all, it had major problems and the trade initially was probably foolish and I think I was lucky. Anything with a question mark really shouldn't be bought. I've given myself a yellow card. At the moment it heads downwards sharpish. IMI spreadbet had reached its target three times and a bit like Deal or No deal when you get offered the same deal three times it is usually worth taking it, I missed taking the actual target price due to a cup of tea and toast delay but ended up with 830 for a profit of £310.
Portfolio highlights:
Microgen (LON:MCGN) went ex dividend for the special 5p dividend today but was only marked down 3p so it is really up 2p, get it? Profits here are up and over £20,000.
Eros (LON:EROS) has been a big star and has had another good week yielding profit of well over £1,000 and already reaching and beating my target. However as I like holding onto winners I've held on here for what looks like more to come.
Bid target Entertainment One (LON:ETO) sits around 200p and us holders are still waiting and wondering if a bid will happen, maybe it will take a lot longer than I thought. It will be a bit disappointing if it isn't but then again the company looks worth 180-190p without one and I've still doubled my money on it regardless.
Telecom Plus (LON:TEP) continues to be a shining star. I suspect it will buzz around 7 quid till the next re-rating but in the meantime happy to have the whopping dividends and it remains a fabulous long-term play. Total profits here are well in excess of £50,000 and way more than that personally - plus all those lovely dividends. I would think these would be trading at a tenner within about a year.
My long-term drugs hold BTG Group (LON:BCG) keeps coming up with promising statements and again is up this week knocking on the door of 300. With revenues well ahead of expectations, probably one to hold onto for at least another couple of years and a nice doubler for me.
I keep wondering whether to bank the rest of the Ocado (LON:OCDO) short as there is a profit there of more nearly £4,000 It doesn't go up much with the main market but wonder if I am being too greedy expecting any further falls. It seems to have support at 90p. For the moment still short.
Avon Rubber (LON:AVON) has bounced (gettit) nicely over 300 and I hope it can hold it.
Capital Drilling (LON:CAPD) produced a very confident report this week and the shares went up a bit. I'll continue with them as long-term hold that could come very good.
I tend to forget about little LOQ (LON:LOQ) but it has made me some very super profits and indeed I haven't looked at it for months except noted the share price stays strong. This week it announced a smartphone trial which could prove very promising indeed. The share price is rising nicely again and it could surprise some more to the upside so I'm staying in there!
I also forgot about the Carpetright (LON:CPR) short! It's nearly £2,000 in profit and sticking with it as I think there is further downside with this one. I don't know anyone who goes anywhere near Carpetright!
CML (LON:CML) has risen a bit but finds 220 a bit of a struggle. Sportingbet (LON:SBT) has got a yellow, however it's not down much and I can't figure out too much more downside though I won't fight the market and take a small loss if it retreats much further.
In general I'm still in a holding pattern with absolutely no rush to take any new trades on. In current conditions I think if you take too many trades it is just too easy to lose. I'm always happy to sit and wait it out and in the meantime the portfolio holds up well.
