My goodness, a terrific summer of gains for me. And even more terrific, I was enjoying my hols and despite taking my laptop with me whereever we went, I hardly needed it. Everything pretty much went up!
Nearly all the trading plans went to plan.
A good number of trades went up and through their targets so I took a good deal of profit here and there. One or two question marks appeared here and there too so profits taken in those as well.
I did get one or two trades here and there but on the whole it's been a lovely relaxing summer, totally unlike that horrible summer of 2011 !
I haven't updated for some time so it's a bit tricky. If I wrote all my trades down here since I last updated it would probably take me two days to do it. Given life is short and getting shorter as I get older I'd really rather spend the time doing other things (sorry!) (the garden is calling me right now!)
And in any event a lot of trades I've already bought and sold and taken profits on. I've banked a considerable amount over the summer.
So I think the best idea is to concentrate on just the most recent trades I did. And give you an idea of whereabouts profits and losses have been taken during the months of July and August. Best I can do.
I've shorted (bet on it to go down) Manchester Utd (NYSE:MANU) on the American market at under 14 dollars. I just can't see this as a real business - and anyway they beat us (Fulham) 5-0 last season and 3-2 this so I can't think of a better reason to short the shares can you? I'm sure Berbatov will be proud of my short!
Also brokers were pumping up Man U shares yesterday saying they are worth 17 or 20 dollars. That's a sure sign they are only worth about ten dollars right?
APR (LON:APR) was something I lost a few quid on, it looked tempting when it first launched but a question mark appeared and it tanked soon after even further. However the fall off has now made it a buying opportunity and I bought a couple of times at 640 and just the other day at 752. My hope it will eventually head back towards a tenner. It's having another good day today. I like this temporary power sector and this could end up being a long-term hold.
I've bought some more Nichols (LON:NICL) at 716 - Britvic (LON:BVIC) and AG Barr (LON:BAG) are getting together, what's next on their agenda? Well I reckon a pretty good chance they will buy Nichols. Not right now but be surprised if it didn't happen sometime in the future so I have continued to load up on the shares. I'm already up more than £2,000 on the shares bought in the 500s and 600s.
Molins (LON:MLIN) is a nice little company I've made money on in the past. A slightly disappointing statement saw the shares fall but imo they fell too far so I nabbed a few at 109.07 targetting a run back up to 125ish. They say the second half should be good.
Keller (LON:KLR) is having a nice run and its sector is back in favour so lobbed in a spreadbet buy at 503.
And I've been loading up with a lot more Sportingbet (LON:SBT) bagging some more at 34 to add to the ones already in a tremendous profit bought in the late 20s. Plenty of buying stilll going in now at above 40p - a failed bid on that one previously, could another be on the way?
In various other trading bits of the summer which I'm not going to post here, I've been buying a lot of 3D systems (NYSE:DDD) (an American company) and up over £15,000 on spreadbets on it and in my sipp, bought at under 30 dollars and in the 30s and now over 40 dollars). Traded Fenner (LON:FENR) nicely from where it finds support ar 340-345 to where it can't get above (400ish) - Made a nice few quid shorting the appalling Facebook (NASDAQ:FB) and grabbed some quick and easy profits on Cape among a few others. I got the odd thing wrong but that didn't matter as it was easy to take one or two really tiny losses. Really, it's been a very easy summer to make money and I made the most of it. However probably now is time to be a bit wary....
All the suits are back at their desks now and lots of meetings around so my guess is we will soon say goodbye to calm markets and welcome back volatility, which is great for day traders. Which way the volatility will take us I haven't the foggiest but no surprise if we ended September sharply lower, or sharply higher. If you told me the FTSE will be at 5200 or 6100, neither would surprise!
However I have got a FTSE short on at just under 5800 on the basis September can be a poor month sometimes and it keeps banging up against that level. I'd now use a trailing stop so if it goes back up I'd just bank some profit. However do remember I am definitely NOT a Ftse trader so please take no notice.
Onto some profit and loss taking...
Photo Me (LON:PHTM) went sweetly through target and sold at 43.5 for a profit of £213. This one has been a lovely swing trade many times now. Maybe it will pay off again soon.
The spreadbet in Playtech (LON:PTEC) went lovely to plan - those of you who read spreadbet Magazine last month will have read a massive piece I wrote about the trade explaining how I planned it etc in great detail together with the stop loss and how I would raise it under the price etc.... it was nice to be able to write about a trade in big depth.
So as the plan dictated I sold half the position at 392 to bag a profit of £620 . The plan now is to wait and see if it can bust through 400, if it can I'll hold for more gains, if it starts to recede I'll take the rest off the profits. Lovely trade.
Vislink (LON:VLK) reported very nicely and just topsliced a small amount, so taking out the last website trade at 33.15 for a profit of £1,045. However a lovely running profit building of over £7,000 on the rest. Management still seems bullish so worth holding on I think to the main bulk for more gains.
MMC (LON:MMC) went up to resistance for a profit of £845. My final bit of what turns out to be dud gamble Cad went for a loss of £650 (though I did sell some a good while back in the 30s in small bits for a profit) Seems fair though to take the full hit for the site trade.
Corin (LON:CRG) bust right up through its target and seemed a good point to take some excellent profits of £1,660.
After its report I managed to buy back in at just over 50p and resold at 57 for a quick turn, very nice, won't put that on the site as just a quick trade. I'm hoping to buy back again in the early 50s or even better late 40s.
IP also easily reached its target and I sold some rather than all as want to keep some long-term so for web purposes I'll close the 102 position (142.5)for a profit of £1,620 leaving open the other position which has built up a nice profit of around £3,000.
Question marks appeared in two longer-termers, New Brit and BTG (LON:BTG). Both are still fine in general however their statements showed some doubts and that's the time to sell some. I sold part of the BTG to close out the spreadbet for a profit of £250 and two of the site positions for profits of £4,400 and £4,722 but I have kept some of the shares (one of the site positions) and I'm looking to buy a few back lower. I felt I was way too slow parting with BTG but nicely faster with Nbpo. Nbpo (LON:NBPO) went for a profit of £230 (771.23)but kept the real long-term ones which are still in a massive profit.
That's total profits banked for the website of a whopping £14,955.
There are plenty of shares that have done well over the summer that I am still sticking with. And indeed I'm simply sitting on all profits now with nothing making a loss.
Creston (LON:CRE) went shooting right through the target and sitting on profits now of well over £3,000. However they look in distinct bid target territory and any bid I think would have to be way higher than the current price, so staying with it as I think there is more decent upside to come even without a bid.
Chime (LON:CHW) has dinged higher- Still in this from 50p so a nice times four and a great profit on the ones bought more recently in the 140s and the spreadbet. WPP (LON:WPP) continues to buy up shares and sits over 21%. I think a bid is inevitable at some point. No surprise to wake up one morning with a bid announcement, my guess is it would be at least 250p.
Telecom Plus (LON:TEP) I left well alone, it's happy now in the 800s which for now looks about right though I suspect another re-rating up to a tenner sometime before the year end. Website profits of well over £100,000 and personal profits of nearly £300,000. Add in the dividends and the income has been terrific. Mail me for how to become a distributor and get yourself a new extra income.
Vectura (LON:VEC) keeps reporting good news so I'd like to stick with that for now. Kentz (LON:KENZ) reported a very decent statement and has gone up nicely, in profit on some, loss on others. I think it should be way higher but its sector is still in the doldrums.
What to say about Dialight (LON:DIA)? It continues its brilliant progress, and my profits are well over £100,000 on it. Trying to knock above 1200 at the moment, it's struggling for that but continues to look a long-term winner with even more upside. I remember so well buying these at 150 ish at a seminar in 2009 ! I never thought I'd still have them three years later at near 12 quid. Averaging up in these has made me a real fortune.
It's been tempting to take final and big profits on the Lovely LOQ (LON:LOQ), however yesterday it announced potential in other countries so on that basis staying in there!
Crapetshite (sale now on!! 100% off everything!!!) continues to drive me bonkers. How on earth much longer can the robots continue to keep the price so high. My short will hopefully pay off though sometimes I get the feeling there could be a nuclear war and the price will still be 7 quid. "People need carpets after a war"
Brilliant GB Group (LON:GBG) has broken 80p and even went over 90p though went back under on profit taking. I have trebled and doubled on it now, I would hope it will gradually drift up to the 100p mark.
Sitting on a very nice profit on Greencore (LON:GNC) which has reached target but just holding on in case it can break out though close to taking the profit there.
So, anyway the summer is over and I'm in a nice position. If shares tank in September I should be able to bank some profits, sure they would be a little less but worth the risk in case the market climbs. And I have plenty of cash too to buy new stuff. Could be an interesting month.