The portfolio has generally held up quite well to what has been quite a bad week for the markets. Given that this was a bad week for miners, things are not looking too bad. I hope this is a short term drop back in preparation for the traditional rally up to XMAS.

Xcite have once again been in the spotlight all week with rumours of delays and problems causing the share price to drop over 50p, right back to 240p due to panic selling. Yesterday Xcite very sensably released an RNS to calm the nerves. The price is now sitting at about 260p. – Give me some more rumours anytime – I got in with a little spread bet as soon as i read the RNS and closed at 260p. – Flow results now due on the first week of December. – I am expecting at least 350p on this news!

I sold my Centamin holdings this week but not because I have lost any confidence in the company… I needed to free up some cash to buy Berkeley minerals that have the potential to provide some good short term gains. Berkeley work in processing tailings from mines in Zambia. They are currently in final negotiations for the acquisition of additional tailings dumps at Kabwe. I am expecting a decent rise in SP on the next RNS!

Nothing else is really moving much. A bit disappointed With Beowulf, – now losing 18% but still holding.

– Still got the Avanti launch to look forward to on Friday. Good odds for a decent gain. Insurance policy on the launch means that failure should not be too devastating to Avanti. Could be a good little earner this one?

I would love to hear your comments, or any tips you may have! If you don’t want to comment publicly you can email me using “websitemail at dailytrading.co.uk”

More updates next week. – Usually Wednesdays.

– Update…

Took a chance this week and invested in a couple of penny shares. To fund these high risk buys I sold £1000 of BP and bought into two companies that were brought to my attention by Paul at investortrader.co.uk.

The £1000 was split between Alecto Energy and Edenville Energy. – @ 3.4 and 0.82p. Both companies are much smaller than I would normally invest in, but after doing some reading it’s quite apparent that both have acquired some excellent resources + I am feeling brave today!