27th July
Another uncertain week on the markets, Banks have been making quick progress with Barclay’s and Lloyd’s leading the way with Gains of over 8%! If only I was in financials.
On Monday I sold Centamin(CEY) as it seemed to have alot of resistance at 160p. I have no doubt that it will push forward sometime soon but I am impatient! I used the funds to buy back into Supergroup @ 987p. If my entry points look poor it’s because I include all trading costs in quoted prices. I didn’t wait for the worst time in the day to buy in! The Supergroup buy in looks like it may have been a bad call with prices dropping back to below 920p today. I was running a loss of about £150 this morning. Without any obvious reason for the drop and no public news I am at a loss as to why? – Any ideas? They did recover somewhat this afternoon to about 950p. I think at this price they look like a very good buy so with no available funds in the trading account, I bought in with a £1 per point spread bet at 920, this has taken a chunk out of today’s losses put unfortunately will not count towards profit on the website.
The portfolio as a whole has not made any gains this week. Fully invested profits are still hovering around the £1000 mark. Down a little on miners and retail but BP. is propping things up nicely with profits running at about £150. I plan to hold these for a couple more weeks with view to sell at about 460p.
More updates next week, trades may be updated on Wednesdays or as they are made.
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