This morning saw XEL, Xcite Energy drop back to just above 300p. This seems to be the results of yesterdays RNS. I have been in XEL to various degrees all the way up from about 80p and after selling at 363p I been looking for a re-entry point for some time. This drop was enough for me to be tempted back. I sold my Vitec group shares for a 15% profit and put all funds back into XEL at 310p. I hope to see a steady rise throughout the month as we get closer to the reserves report that is due at the end of THIS month!

This weeks other big move was to sell BEM, Beowulf. I sold today at 74p. I know this will be controversial because they have a very busy schedule ahead of them over the coming months. I sold today after weighing up risks. I bought only a small holding of £750 and at 153% profit in 9 weeks I didn’t want to risk watching dwindling profits in the wait for news. – BEM is a great company that I will probably look at again if the opportunity presents itself.

My other buy this week was HSBC. HSBC’s share price dropped back about 5% over the last couple of days following announcement of profits that obviously fell a little short of market expectation. I think this is looking over sold. Buys are outnumbering sells and I am expecting this to bounce back over the next few weeks. Ex dividend on 16th March.

Multiple director buys coming in for Avanti – not surprised as this price. It’s nice to see some confidence from the BOD. When will the market realise that Avanti are going to rocket…?

Berkeley Mineral and ascent resource have both lost a little ground since last week. Holding for now as fundamentals have not changed.

Still plenty of opportunities around at the minute, GKP is creeping back having dropped back as low as 135p over the last week. What a fantastic opportunity… I would have liked to have bought more but funds were needed for XEL.

Good luck all. – As usual, keen to hear any of your thoughts or tips! Email me at websitemail AT dailytrading.co.uk or use the comments system to get in touch.