Only one buy this week and its ATC – Atlantic coal.

I was expecting an event free week with very little on the calendar but it wasn’t to be…

My new buy Atlantic coal rocketed up from 1.3 to 2p during the week and at one point I was in £750 profit! I really should implement a new rule that forces me to sell when a share shows 50% profit in under a week… This was the first victim of the great sell off. The company director Adam Wilson sold a chunk of his holdings for half a million quid… Can’t blame him really. Unfortunately this had a rather significant effect on share price. A am not phased and will continue to hold.

“The Company’s strategy is to create a significant mid tier coal company, through the expansion of activities at the Stockton anthracite mine, identifying additional sites in Pennsylvania and building its production and resource profile, by primarily acquiring defined assets in stable and recognised high quality coal regions.”

Coal is in serious demand and with ambitious plans for this year I hope to see ATC fly.

The rest of the portfolio has been holding it’s ground over the last week. An XEL Sale RNS had little impact on the SP for a change. There is no science to the reaction to a director or large sale; I have real difficulty determining how much impact it will have. I sold 30% of my XEL shares this morning on the news that Ignis were selling off some of their holdings. The anticipated drop never materialised… I may buy these back if an opportunity arises or I may just increase my holdings in Matra or Beowulf.

Outside of the portfolio things are progressing nicely. Recent buy Porta Communications PTCM dropped back slightly this week so I used the opportunity to buy another half a million shares. I now hold just under a million! I intend to hold tight to these over the next two years as the new CEO, David Wright puts his ambitious plans into action. Last weeks buys CAZA and KEFI are showing 16 and 33% gains.

For the first time this week I am using Level 2 data to try and time my trades and get some better entry points. I have not yet determined how useful it really is compared with just watching the spread. I would be very interested to hear your thoughts and on any tips you may have on how to get the most out of it.

I am also planning to make some changes to the site over the coming week – Thanks to all those who have emailed me (websitemail AT dailytrading.co.uk). I am planning to add an emails section to the site where (with your permission) I will post your emails (not your email address) and my reply. I get some great tips by email and I don’t mind sharing. I am also planning on re-introducing the live portfolio now the code has been repaired.

Happy trading,