Things have been progressing well this week with nearly everything up… (Excluding the ever disappointing Porta potty)…

Early in the week It was apparent that things were looking up and with the FTSE heading in the desired direction at quite a rate it seemed a shame to have cash sitting in the pot.

Two more buys this week and the 10k is fully invested!

Harvey Nash (HVN). Thursday last week saw the release of a statement from the recent AGM. Very positive statement  Performance was “ahead of budget” in Q1 and they are forecasting that it’s likely that this trend will continue through to end of Q2. Buy volumes were up last week and a series of large buys. Bought for 77p – target £1 stop 60p

Vodophone (VOD). Vodophone was the other buy of the week (Today) Last week there were two substantial 100k+ director buys. Vodophone have consistently performed well over last few years and in May announced 3.1% rise in group operating profit for the year to 31 March. they are also increasing dividend payments this year… not usually considered a reason to invest but VOD are buying back large quantities of their own shares. Statistically, for one reason or another – companies that are in a position to do this tend to significantly outperform the index. (this may just be because companies that buy back shares must be in a financial position to do this)… To me it’s a sign of confidence.  Bought for 166p Target £2 – Stop 140p.

 

I have still not updated the new trades table but will get onto it soon! The portfolio is up overall and showing a small profit (0.8% over it’s first whole week). All trade prices include charges so no a bad week. Nice to see some signs of recovery.

 

Doug