There have been a few up’s and a few down’s this week. Luckily the ups were bigger…

Only a couple of sells over the past fortnight, one being Petro Matad. MATD released an RNS on the 6th that on first inspection looked OK. The share price started to rise as a few people jumped in on the news. I was watching the price quite carefully and did a bit of research myself into what exactly “significant hydrocarbons” were… After watching the price fall back slightly I decided to jump rig at 187p for a small profit. I wasn’t convinced by the update and it turned out to be a good move as while the update was digested by the masses the price dropped right back to 140p

The other sell was Centamin (CEY) this was triggered by the need for funds to invest in Supergroup. SGP dropped back nearly 10% on Tuesday to 1070p. I couldn’t find any good reason for this drop so decided to buy in. Supergroup released a great update in September and they have another update in a month’s time. I think SGP are a well managed dynamic company and I am expecting a positive report in Mid November. Target – 1400 Stop 1000. – Already bounced back to 1130p!
I will be looking for a re-entry point for CEY when I have the funds.

The only other new buy is Encore Oil (EO.) Following recent success within the Energy Sector I thought I would check out some other energy companies. EO. looks to have plenty of potential and are currently drilling appraisal wells in the North Sea. Potential for some really big gains here but this is high risk as dry wells can seriously knock share prices. Stop 100p Target 200p

The rest of the portfolio is looking good with small gains on most shares. BP is looking particularly good and is showing a nice consistent rise in the right direction.

Next update in two weeks!