July 13th 2011: Markets
Hate to say this but I for one am completely bored with the phone hacking thing.
Honestly aren’t there more important things going on in the world? Yes I know it’s bad the hacking went on and it’s awful for those affected.
But for now I’ve switched the news off. I can’t take any more of it. Yes, okay, we have some corrupt journalists, politicians, and police.
But we really did know all this already didn’t we, sad though it might be. The old saying is oh so true, power corrupts whichever department the power is in.
Shame I’m not famous in a way. If I was they would struggle to hack my mobile. I haven’t got one!!!
It’s not surprising we’re in a mess, figures reveal thanks to Gordon Brown it’s the equivalent of £80,000 per household. Or £2 trillion. Can’t even think of how much it is.
The figures are so bad because Brown simply ignored them and didn’t publish them. Clever accounting you could say. Hiding the figures under the carpet you could also say.
It is pretty unlikely we are going to clear this debt in any of our lifetimes. The wartime generation must be shocked at all the spending and the debt that has built up.
At last I found a political party I can confidently vote for. Sadly it’s only in Switzerland.
Yes it’s the Anti-Powerpoint Party!
Banishing needless Powerpoint presentation would save the world £330 billion a year! Research shows these presentations cause people to sleep and take them away from real work.
It’s definitely the case. Glad to say I have no idea how to use it and all my presentations come direct from the live market.
But I wonder if said party could be extended as a party that would put a stop to idiotic things that take up our time.
I remember those idiotic long-winded meetings when I worked.
How’s about no meetings longer than 15 mins? No e-mail days so employees would actually be forced to talk to each other properly. I can think of loads more.
I’m going to think about my policies. It’s time for a new party. With new ideas, full of people who have really worked for a living, who’ve owned businesses and understand time pressures and stress and people.
None of the lot currently either in power or opposition have got a clue. No wonder nothing ever gets done.
The Apprentice moves into its last stages. (What is inventor Tom still doing there?)
Helen looks the easy winner. Lord S has probably already decided who it’s going to be.
Who’d have thought nodding dogs would be such a good seller?
If the markets crash and I lose all my money I’m going out selling nodding dogs (together with my window cleaning business).
The Greek problem is so bad that all production of taramasoalata and Humus has been stopped…..you got it, it’s a double dip recession.
Well, we’re heading into the usual summer malaise (probably not the right word but kinda nice anyway) – people are away, market maker offices are understaffed and often there isn’t much going on.
This often means shares get more volatile than usual with bigger spreads making it pretty difficult.
In the main given I’m away a lot over the hols I expect to trade sparingly, buying only where there looks like real value and maybe topslicing here and there stuff that has done really well.
Well, I did manage to get a FTSE short on near 6100, I had intended to hang onto it.
But other people are terribly persuasive. That’s why I try and avoid Bloomberg, and bulletin boards etc. I try and steer my own course and not worry about what others are up to or forecast.
By Friday afternoon I was a nice £700 up on the short and felt I would probably keep it for a while this week. Then because I was doing a follow up seminar with people in front of me I couldn’t help but be influenced, they reckoned take the profits. So I did. What a mistake that was! If I’d held on there was another £2,000 profit there. Thanks, everyone!
There, I feel better! Someone else to blame!
Remember, when you lose on a trade, there is no point blaming the tipster, the magazine, the bulletin board guru, the guy in the nice suit on TV.. you made the trade, you’re taking a loss on it and you are the only one to blame.
Of course the FTSE continues in its 5700-6100 range. Buy in the 5700s and 5800s sell and short near 6100 for the time being! Needs to go under 5700 or over 6100 properly for any new trend to establish.
As per usual this year the best time to buy is at the worst moment of panic which was sometime in the middle of yesterday. Maybe this is a new buying plan: Just as you are about to press the sell button, buy instead.
In fact, given most people lose, and perhaps if you are losing why not do the exact opposite of what you were going to do? Sounds like a winning idea?
Smith DS (SMDS) looks good value even after a good run – I bought a few but then they went down and with sellers coming in I took a small loss. Looked for a reentry and found it I think getting £20 a point at 247.3 on the spreads (that includes the div). Probably a tight stop as it is influenced by the main market but good potential too for more rises. However a market meltdown and it would sink too.
The Supergroup (SGP) bet paid off well with very good figures today, liked the look of those so surprised myself by increasing my stake by another tenner a point at 940 after the auction even though it was already up a great deal. While it was well overvalued at its peak of 1800, at around a tenner looks good value and I’m looking for a run up to 1200, maybe 1300 and consider it a shorter-term trade.
I shorted Tullet Prebon (tlpr) for a tenner at 375. It’s on a pretty continual downtrend so I’ve hopped on board as it looks like a bit of more downside to come. Probably not a massive amount but I’d have thought at least 350. of course the trend could change and if it did I’d get out for a small loss. Which is kind of what I try and do with shorts.
I’ve shorted Carpetright (CPT) for a tenner at 650. Like Ocado, I can’t see why the share price is so high, it’s not a great business at the moment and I would have thought about a fiver was the right price.
I’ve taken massive profits in both my bid target shares. Both because the potential upside left in both wasn’t worth the potential downside of bids being pulled. In other words after such big rises it might be a mistake being too greedy for more and in any event there isn’t so much more that makes it worthwhile holding further.
Charter’s gone at 828 to bank a profit of £3,130 (Actually nearly £10,000 in real life)
Laird has gone at 190.1 and 190 to bank a total profit of £3,458.
Obviously very happy with both those and in real life profit of over £15,000 banked.
Electro went at 260 for a loss of £390 – shares were being hit by negativitty in the sector so it seemed best to quit. Two dull spreadbets quit: Homeserve went at 505 to bank £110 and Hiscox at 420 for breakevenish. I topsliced a bit of Volex at 329 to bank a profit of £1,310 but keeping most longer-term.
Xaar has soared since I bought but though a great company it all looks in the price, so I’ve sold at 284 to bank a very nice profit of £2982.
That’s a nice profit of £10,600 banked for the site bringing the total profits banked since I started to nearly £930,000 inching closer to the £1m mark and the point at which I say farewell.
Telecom Plus put out a statement today. It says profits are going to be significantly ahead of last year. And everything looks very rosy there, not much move on the day which is fine as it went ex dividend for 14p today which means a nice fat cheque for over £6,000 is coming my way! And as usual it is unaffected by the main market moves.
I think I’ll be selling these shares one day in the 1500-2000 area. Just a question of waiting. Website profit for the shares must be well over £30,000 though I’m too lazy to add it up. Profits in real life are nearer £150,000.
Recent buys go well. Especially Dominos Pizza which is already 40 pts higher though surprisingly volatile.
It’s getting close to target so considering a profit take. Croda has rocketed and already up by nearly £3,000. Gamble Filtronic holds higher. The two oil plays Coastal Energy and Aminex both go reasonably well.
Surprisingly given recent falls the shorts aren’t going down! Ocado incredibly has gone up. Can’t be long before it tanks properly. It looks to be like it is being held above the float price artificially. And Inmarsat is a little higher, but I’ll stick with both for the moment but also mindful it’s usually better to exit shorts fast in a rising tide.
Oxford Instruments goes well as it heads above 900. Hoping for at least a tenner there.
The wonderful Microgen continues to go higher (and ignored by all private investors except me, not an exciting enough name!) It remains a cracker and some lovely profits of more than £20,000 for the site. What a lovely share this has been since I bought it live at 45p. It holds its value and slowly advances. Up again today, and it has also paid out some nice dividends.
Ms International and Latchways have both held some decent gains. Long-term slightly boring hold Bioquel seems to be picking up new contracts and slowly goes higher. . Exillon my energy play does ok in a bad week after another encouraging well report. Also Porvair came up with good figures, I have doubled on that one now.
Alternative Networks heads back up after the profit takers have done. This one I feel is a bit like Telecom Plus were barring an exceptional event it ought to carry on higher with profits and dividends just keep rising . I would expect them to hit 400 within a year.
Gresham is quietly still going higher under the radar! It’s gradually lifting unnoticed by the market, which is fine by me! Entertainment One has risen a few points. I reckon it will power up to 200 odd from here in time.
The Vitec Group, an unsung hero of the portfolio reported great results and I’m up and over £4,000 profit here. Looks good for a few more points. Dialight can’t crack the 750 though support in the low 700s. it is expanding into Japan. The website holds profits of nearly £40,000. In reality, my profits actually way greater than this.
Similar story with Carclo this is a nice long-term hold where I have doubled my money. There could be a lot of excitement about Carclo later in the year. Avon Rubber holds well, already up more than 30% since buying recently, it is testing support now at 300ish.
Affero’s price continues to be nuts and is hard to value, still together with my free shares it goes back into a pretty decent profit even taking into account the loss on the top up.
Yule Catto has some bid stories swirling around, as usual best to take with a pinch of salt though this seems to have got it over 220. Obviously I hope the bid story at 350 will turn out to be true!
Another good statement from BTG, long-termer continues to look good has nicely doubled and looks strong this week after another good statement.
Petrofac remains a core hold. Though easy for me to say that as I bought in the 350 area. Together with spinoff Enquest sees me sitting on profits of £30,000.