Markets look a touch wobbly



Well, markets are looking a touch wobbly as I write this early doors on Wednesday, however as I write the uptrend is still there, just about. The question is if the dips continue to be bought and they are still - just!

The Cyprus business gave them a bit of a kick but like a game of Jenga the pieces are staying up (for now).

Indeed the game has stayed intact after an awful lot of kicking.

The problem is how much more kicking can they take and will something give them a killer kick that will knock all the pieces away? One gets the feeling one or two more kicks and the pieces will collapse all over the carpet.

I guess I don't mind TOO much if it does given my summer off plans.

I've been gradually topslicing, and sold quite a few of the bigger spreadbets off leaving me with a lot less leverage used.

And I've started building up a cash pile too. 

Just to remind you my plan is to have this summer off from trading and that means probably by end of May I don't expect to have much open that is volatile but I would expect to still own my nice long-termers for eventual growth and dividend yield.

I don't mind holding strong companies with cash but I'll be shutting down anything higher risk or anything with big debt.

I don't intend to do much shorting over the summer either. I simply imagine long holidays without the hassle of keeping an eye on the markets.

Of course just because I am doing this doesn't mean I necessarily believe a crash is on the way. Indeed the market could easily go to new highs considering the trend is still up.

But I made my money for this year already and so I would rather cash in on that than be too greedy to grab too much more.

Being too greedy can easily sweep away hard won profits in days.

So while my roving eye will still be out there for bargains - any new buys are going to have to pass a lot of tests to get onto the portfolio!

So, as I said this month has been more about topslicing and bagging profits rather than buying too much new.

But I did get some Esure (LON:ESUR) - my allocation was 1,319 shares at 290p - they are up a bit after the placing.

I expect simply to tuck Esure away, forget about it and bag the juicy 6% dividends on offer.

And I have bought a share you have never heard of before, I guarantee it. It has a terrible name.

Hellermann Tyton (LON:HTY). See told you. Impossible to say and hard to spell. Maybe it will be one hell of a share. I had to ring yesterday to get a deal as it wasn't online then. "No-one has been interested in this," said the broker. "You're the first!"

It's a new issue and Isaable. I doubt a single private investor will be interested. Indeed as I write this at 9am this morning I can't see any trades from private investors at all!

Because it doesn't have any of the exciting buy me buzzwords such as "Gulf, oil, desire, xcite, keystone, Egypt, mining, drill," etc. 

Yes it is incredibly boring - it's cables!! Yes, cables I ask you how dull is that!! Cable ties... borrrringgggg !!! No chance of finding any oil at all!

And there is no chance whatsoever of it "ten bagging" - no point at all in "filling your boots" with it and the guy down the pub who gives you tips will never have heard of it. Nor will the downmarket tipster you all follow who will probably lose you a packet.

"Heller wot?" your tipster mate down the pub will say. "Cables! Listen to me son, that Robbie Burns is crap!

"Listen to me, I've got a great little oiler for you that you'll 20 bag on when it finds oil in this amazing swamp land in Mosambique. I got it from this great poster on the bulletin boards who knows everything! They found oil and they're going to announce it any minute!"

In fact it is so dull I am not going to say another word about it except I have bought some at 194.5. (Same price the institutions paid). And some more at 195.5. And some more at today (online this time) at 196. (I'll sell it the minute the worst tipster in history puts it out as a buy).

And I added some more Greencore (LON:GNC) today at 101 and a touch as I liked the look of the breakout over a quid. Still in from 82p here so for the second time this one is churning out great profits.

I shorted a bit of Ashtead (LON:AHT) - not that I think it's a bad company but I think its rise might be about to come to an end and if the market falls this one will get badly hit and seemed a good idea to short as it came up towards what might be a tricky 600 area. Much over 600 and I'd take a loss.

I got kicked out of the last trade in ceo on a trailing stop at 1150 but then I topped up at 1087.75 - looked to be oversold now on the basis of no news and last time it got to around this level it shot up again. My main lot was bought in the 400s so no worries for the moment. 

I topsliced a bit of Ftc (LON:FTC) at 69.5 as I realised I had accumulated quite a few but hold onto the main lot still. Profit banked for the website is £2,300. The remaining positions have a nice open profit of nearly £20,000.

The Xch (LON:XCH) trade never worked out and gradually fell after entry. I tend to get out fast if things go wrong so the trade went at 141.8 for a loss of £135. I also topsliced a bit of Nmc (LON:NMC) at 330 for a profit of £1,288 - remain still in a massive profit on the original buy. The latest Car trade got bit by a t stop at 422.75 for a profit of £448 - but again keet the main lot and looking to buy back at the mo. 

That's cash banked of £3,901. And all those profits go into the cash pile for use if the market crashes. 


32 red (LON:TTR) holds its gains nicely. Holding for a hopeful bid!

Loq (LON:LOQ) had a weird day- a massive shake, I made a nice spreadbet this am at 570, cashing in at 610 for a quick £400. Level 2 paid for itself spotting both turns.

The recent spreadbets continue to kick on. Filtrona (LON:FLTR) in particular up again very nicely this week and nearly 120 points higher for the spreadbet, CSR spreadbet goes well too but hesitant about cracking a fiver. 

Dialight (LON:DIA) couldn't manage to hold 1400 and is now kicking around 1300. but still perfectly happy here. 

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 12 quid - website profits are up and over £70,000 and personally profits over £100,000.

I think Dialight's 20 year light is going to be a massive winner and it could end up being a mega company unless it gets bought.

The recent Brammer (LON:BRAM) trade has been a big success so far. Looking for it to hit around 400. Kentz (LON:KENZ) reported lovely results this week - it has gone up quite a bit and surely worth at least a fiver but the market isn't a fan.

GB Group (LON:GBG) reported great results ahead of expectations and went up nicely that continues as a long-term cracker. 

Being patient with the Crapetshite short may be about to pay off - the robots appear to have gone (I smashed them up with a hammer) - however I don't think I am quite there with victory just yet as they may come back. A move below 600 could see a nice big plunge which as I think the shares are worth about 2 quid at best is fair enough. 

Pendragon (LON:PDG) has motored up, looking for 25p on that one. The brilliant Low and Bonar has conquered 70p, dare I hold out for 80? I motors up again today. RWS (LON:RWS)  continues to do well, up nearly 250 points on this one, nice. The spread is a bit of an irritant though but up again this week

The lovely Porvair (LON:PRV) has closed above 200 what a star trade... and is doing nicely today.

Costain (LON:COST) announced a merger with May Gurney today. Market doesn't seem that keen but I'm holding on as still up more than 100 points now on the first buy. I suspect it will rise again once things settle down.

Telecom Plus (LON:TEP) tries hard to get above the tricky tenner. Having another good go today. Might take some time. All looks on track and I would expect a nice steady rise this year. It seems to have cracked the 900 area for now - cracking a tenner is going to take a few attempts, Website profits of well over £100,000 and personal profits of more £300,000. I just continue a long-term holder. 

Vislink (LON:VLK) reported a decent set of results this week and is on track for 8m ajusted profit, is sitting at 31p and looking for it to go to 37p ish. Management already forecasts some nice profit rises over the next 3 years.

Nichols (LON:NICL) where I now sit on a fabulous profit is up again after telling the market it is ahead of expectations - it has tons of cash. 

Alternative Networks (LON:AN.) has been rising very fast and cracked 300. Excellent profits there and worth being patient with them. I wonder if a bid is coming (they already turned one bidder down) . 

Sepura (LON:SEPU) is starting another run, 100 is the big barrier.

Fiberweb (LON:FWEB) has gone up a bit. 

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