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Trading is just about making money right?

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MARKETS

Just a reminder to those of you who don't read about my exciting life (!) above there is no update next week, back May 15th.

Sir Alex's retirement yesterday made me ponder my own from trading. I didn't mean to write that in a pompous way (by the way). He's an amazing guy with great skill, I just buy and sell numbers. 

I keep thinking I made all the money I need for a long time (upwards of £2 million now all told). I've got two properties one I could rent out and no debt so I don't feel I will ever have need to worry about money ever again. 

And so I should retire from trading pretty much. Not totally but the day to day stuff I still do now. Because trading is just about making money right?

But then I realise I really love many parts of trading. Such as finding a new share that I never saw before and realising its potential. Then adding to it as it goes up. Doing the detective work, sussing out timing, well those of you who've been to seminars have seen me do it live and probably saw how much I enjoy it. Even cutting losses fast on a trade I got wrong I find fascinating.

So I realise now I actually enjoy it apart from the money. Even after 13 years of doing it I find it totally fascinating.

So I suspect maybe I'll end up being a semi retiree. I need to mull it over!

Well, I did keep saying it's best to follow not to guess what the market will do.

There are loads of singed shorters about - More than 85% of IG's clients were short the FTSE last time I looked.

Indeed loads of people shorted the FTSE at 5900 and 6000 because they thought it looked "overbought". Many are still hanging onto their bets.

I've met one guy who shorted for £50 a point at 5900. That's a loss of £30,000 so far. Well maybe his bet will come good in the end but it's costing him a right few quid every week to keep the bet open. You ought never to let trades get out of control like that. I hope the heavies don't come knocking on his door demanding margin payments.

And of course it looks tempting to short it now at highs, but what happens if it keeps going up?

Also many people have missed out on the gains so far this year through fear the market went up too much. "It's gone up too much, I'll wait for a crash".

Remember the market is mad and irrational. Think a drunk swaying down the street. Anything could happen and he could go anywhere. Follow him slowly and respectfully, there is little point in trying to guess where he is going next.

Those listening to various pundits will be doing their dough at the moment. Be a follower, not a leader in markets. And try to take no notice of the total BS from the tipsters and commentators out there. I expect you know the ones I mean...

Some more rather interesting shares came up at Friday's seminar 

Of course I never know.. it depends on markets, and to some extent, a bit of luck what we might find on some share screens.

4 more shares we discovered on Friday have made it to my shortlist which is getting quite long!

It you'd like to come to the next seminar by the way I just booked June 14th.... email me at [email protected] for details. 

I've topped up with some more of my "boring" Hellerman Tyton (HTY) getting a fresh lot at 210.

The first lot bought when it listed around 195 are doing nicely so far.

Anyway you don't want to read me rambling on about it here do you? Way too boring right? It hasn't got any oil in a dodgy political region in a middle of a piece of swampland so it's never going to be a ten bagger, so what's the point?

I'm still targetting 250 for HTY. It's got a good chance of entering the FTSE 250 soon which should push it up some more as funds buy in.

Pace looks interesting (LON:PIC). Came up at the seminar late on and though it has gone up a lot recently I think there could be another lift up to near the 300 area and so it's on a spreadbet. 

I'm a bit wary of airlines - probably silly as look how well Easyjet (LON:EZJ) has done.

On the other hand Flybe (LON:FLYB) has been a stinker but have you been on one of their planes? Scary! Never again! And they will do you for fifty quid if you're even a matchstick over an allowance.

However Dart Group (LON:DTG) runs Jet 2 Com up north and apparently I am told they are brilliant - they don't mess their customers about with baggage allowances etc and treat them well - and so customers really like them.

Which shows in their recent figures which are excellent. Jet 2 Holidays is doing really well. As a feeble southerner I don't get to use them but my hard northern mates at seminars tell me they are the dog's, erm.. dangly bits.

Perhaps this shows if you don't try and cost cut too much passengers are prepared to pay more for a good service.

Anyhow despite good rises already I think the shares could take off further and I bought them as a spreadbet for tax reasons as they're aim and can't get them in my isa. Bit of a seller at the mo at 170 but once through that 200 at least looks likelier than not.

I'd be out if they fell much below 160.

I've had a great run with St Ives (LON:SIV) with massive profits building up in this position and I added some more - the reason is it has sat in the mid 130s for a while but it is suddenly gaining ground again - and when this one gets another re-rating it simply shoots higher quite quickly. So I'm in there for more.

PORTFOLIO HIGHLIGHTS

The portfolio is simply soaring away at the moment thanks to the strong market.

Nearly everything is going up with my spreadbetting and ISA accounts booming despite me currently forking out 100s of thousands to builders for renovating a new property. 

Lovely performance from the lovely Porvair (LON:PRV) which continues to climb most days. Looks like it should head up to the 300 area.

Parity (LON:PTY)  went through 40p quite quickly taking out a big seller which was good to see. Another few pence and I'll have doubled on the first trade. 

Esure (LON:ESUR) reported today and the market seems to like it, long-term tuckaway there I think.

Biggest holding Telecom Plus (LON:TEP) has now hit a high of 1225 today ! Running this winner from 18p, the 80s and the early 100s has paid off. Website profits of well over £100,000 and personal profits of more £400,000. I just continue a long-term holder. One could argue it is a bit overcooked for right now but I guess institutions are happy to pay a premium for a quality company. The dividends give me a substantial income.

Coastal (LON:CEO) continues to be a lovely oiler having trebled on the first buy. It's just plateauing at the moment. 

Vectura (LON:VEC) looks like it is moving up again after a long spell around the late 80s. Perhaps something good not too far away?

Loq (LON:LOQ) has headed back up after its falls and nicely up today.. it should be less volatile now still timed my money by five on the first lot.

Filtronic (LON:FTC)seems happy in the 60s. Unrealised profits for the site over £20,000 on this and banked profits over £4,000.

Sepura (LON:SEPU)has been rerated higher, might pause now before another rerating. 

And long-term open positions on the site now total a magnificent profit of over £300,000. 

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

GB Group (LON:GBG) is creeping up again and trying to tackle 100p. It fell back once from this level but the slowness this time should help it get over that hurdle.

Costain (LON:COST) continues to be a nice surprise through 300 seems the limit for now. 

Nichols just continues to rise and rise but might not be enough for it to clear a tenner for a while but I sit on a fabulous profit.

Dialight (LON:DIA) put out another nice statement and is hovering around 1300, my second biggest winner bought at 145p at a seminar in 2009 ! And topped up all the way along - as those of you who came to the seminar saw in my accounts profits on this are enormous. I don't see any reason to sell yet.

Open profits for the site have bubbled over £300,000.

 

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