So here's a surprising buy I made, well surprising as it's in the dreaded
property sector.
I bought 850 shares in Quintain (QED) at 474.6 this morning. But I do have
reasons. First off I like the way it's bottomed out. Second there's been some
decent buying and possible stakebuilding. And 3 I think some property companies
will get taken out this year and I think Quintain is a prime candidate.
So scoff if you must... but we shall see! Target 550 stop 440.
I took a loss of £500 in the Johnstone short exiting at 138 as it was
hitting the stop. It's been strong for a while and I couldn't give it much more
time. However I did make £1,600 shorting it last time - still looks debt laden
so expect to get that £500 back soon enough.
As I mentioned last time with the Ncc short hitting the target I was
getting tempted to take profits and so I did as it started to rise. I wasn't
really quick enough off the mark as I could have got out at 321!
However I got 332 to take profits of £1,465 which isn't bad. It's rising
now and I think this might end up becoming a nice range-trading share at between
320 and 390. So I'm looking to short again now back up in the late 300s. It's
going up sharply as I write, probably because shorters like me are closing.
So that makes a total profit for the site today of £965.
Some very nice gains indeed for the portfolio this week. Star of the show
and luckily my biggest holding Telecom Plus just rises every day! It's not
surprising given the massive cash pile and the certain knowledge the next
statement will show profits of nearly £17m.
As it gets towards 300p I think some private investors will take profits.
It's the whole number thing. But I won't be taking profits as my view is there
is at least another 100p to go for. So I'll be sitting it out. Once it gets
through the 300p barrier, it could motor.
Hardy Oil is really bringing big profits in now. I just ignore the
ridiculous swings as the market makers try and scare holders out. I ignore the
day to day mad moves and just let the long-term uptrend continue.
Dragon Oil has been consolidating nicely in the 440-450 area - any break
over 455 should see 470 regained and then 500p.
BG has proved a smashing buy with 250 points profit reasonably quickly. I
am starting to think about profit taking.
My oil services Hunting and Petrofac are having a good day as too are PV
Crystallox.
The Rightmove short is really starting to pay off now with my patience
rewarded. I can't see why it's worth more than 350 so I'm hoping it tanks by
another 100p. If the 450 level cracks, 420 could be achieved fast.
Eaga has been quietly going higher, looks like it could try and push
through 200p soon.
Emerald can't quite break through 300p but trying hard - if it succeeds
it'll be very bullish.
Gamble Fortune Oil stil goes well and it's flirting with the 9p area!
The market is almost unreal at the moment. My finger is hovering around the
short FTSE100 button. I can't see much upside, but.. it is proving strong. Maybe
the BOE will surprise and cut by half a point tomorrow. Now that would send
prices up. Well, for a few minutes anyway!