Markets have fallen back through the previous support. Want to know who to blame? It's the World Bank which reckoned the green shoots weren't as green as we may have thought. That caused markets to get into a bad mood on Monday and fall out of bed and now they're sulking. The sulk is semi over as it's rising a little today but it could easily start a new sulk over the smallest thing!
However, other banks disagree with the World Bank and George Soros is bullish. The Investors Chronicle lost a heap going short. Up to you to decide! Personally I don't believe any of these people have a clue.
As I'm off on holiday shortly I'm not that keen to add too much more into the portfolio and in particular I don't want anything too risky while away. It has been really tempting to short but I have resisted.
After taking some lovely profits on Carclo (CAR) recently selling at 97 I'm back in for 5,000 shares at 98.6.
My main reason for getting back in were some decent larger buys that came in earlier in the week and indeed a large number reported today which I reckon are buyers from yesterday made to look like sells! My feeling that they are buys is because the price moved up yesterday, clearing 100p. If it can form a base at 100 and more of these big buyers are seen I hope for more upside though I look at this buy as a more longer-term idea. Target 145 stop 88.
I've bought back a few Heritage Oil (HOIL) this time on the spreads for a tenner at 471. I took profits at 542 recently on some of my stake and the old spreadbet, given the potential a good time to get back in on some overselling. Of course I still own the shares I bought at 175 so still very happy at the near treble! The shares are rising well today. Target 600 stop 450.
With so much profit on paper I decided to continue to bank some more, getting more of this year's brilliant profits firmly into the bank.
Galiform has been a lovely performer - sold some recently at 35ish to bank nearly £1,000 - I've now sold the rest at 32.51 and the spreadbet at just under 33 for a total profit of £2,591. That's a total profit for the share including the other recent sale of £3,510.
Looks like my sell could be a mistake as it's currently higher than I sold at! Oh well, anyway it's a good profit banked!
I also sold Innovation - it just can't seem to get any higher for now - sold at 10.54 to bank a profit of £401.
I've been patient with Workspace but it just isn't shifting above 16p ish for right now so sold at 15.83 for a profit of £524. One to keep an eye on for me though as it still remains a decent recovery play. I also sold the New Brit spreadbet at 376 to bag a profit of £660. But I've held onto the shares themselves.
That's a total profit banked for the website today of £4,176.
Porvair's statement told me nothing new and the shares remained unmoved. Already up £1,500 on these and I quite simply am hoping a similar Italian company that recently raised its stake to 22% will make a bid, and I'm hoping for 100-120.
Brilliant set of results from Celsis - they are starting to move up and look undervalued to me after those figs.
A bit of a treeshake in brilliant performer and recent topup Microgen yesterday but it's heading back up with excellent profits now building of £2,000 plus. Looking very good indeed.
Treblers remain Barclays, Heritage, and Dragon Oil. Still waiting for news on the possible bid for Dragon. Office to Office tries to make some progress. Optos appears to be consolidating.
Recent top up Alterian remains strong it came back off 137 but is on the rise again. Doubled already on the first buy of that one. Volatile PV Crystalox is in profit but it's hard work. Very volatile Wellstream only just survived two yellow cards turning into a red.
Chime Communications looks on the rise again after the ex dividend. So extremely happy with everything - the whole portfolio is still in massive profit and also it's been good to bank some of it too.
I still wonder whether the market will simply continue to tread water short-term. And I also wonder whether these types of levels are about right for now - maybe there is actually neither tons of upside or tons of downside to come over the summer?
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