Well, no real change over the last two weeks.
Everytime you think it is going to collapse another lot of buying comes in and lifts it.
As I said last time just because I think markets should be way lower means nothing – going against a trend can be rather damaging!
So I remain cautious, in some cash. For now taking each share on its merits. Trying to short the bad ones and buying the good.
There is a lot of market gambling going on. Will such and such a share have the virus cure? I must buy an airline or a holiday company as this summer it will be takeoff!
But for now no-one really knows if the virus is on the retreat or is another wave coming.
Things could change quickly so I am on the alert if markets start to fall below support. If so I would begin to go short and backinto more cash.
I was in more than £1 million in cash till recently but spent about half of that in the last few weeks buying up shares.
Many of those have had a good run so it won’t take much for me to bank the profits, get out and spend the summer in the garden!
In the meantime I will buy and sell as I used to.Interesting to chat to so many of you online at the follow up zoom seminar and the spreadbetting one yesterday.
More of you seem interested in shorting than previously and it seemed more people were bearish than bullish – there is a case for both for now!
Btw there is still some small online space for the beginner/improvers zoom seminarwith me on Wednesday, please mail me if interested at firstname.lastname@example.org with June 24 overflow interested for details and costs.
I’ve bought some 888 – a gambling company – shares of this one have halved in recent times.
However there may be some upside here. The US is gradually opening up. It has a decent cash pile and looks to be increasing
profits for the next year. Possible downside is governments have been cracking down (rightly) on gambling cos but likely this is in the price now. I bought some more TP Group (TPG) – this one could have some serious upside. I like to average up and this looks the perfect candidate with lots of good news coming out on this one.
As the news comes out, the price carries on rising and it looks like a previous seller is out.
It’s announced its first production of oxegen from its new system which could be a good long-term earner and today it said 18m Eur of work orders have been secured under its ESA contract.
It is beginning to look like a company with bright prospects that has been underrated, if the market re-rates it there could be a lot of upside as its rating has been low for some time.
Buyers are coming in and initial target is over 10p. I bought some Telecom Plus (TEP). (This is the stock market name for Utility Discount Warehouse). It provides energy, telecoms,broadband and insurance on all one monthly bill. We have taken allthe services for years.
Before I go on, just a reminder I am a big shareholder with over £300,000 ofshares, mostly in a certificate bought many years ago for small money!
And I have also been a distributor for them since 2000 and so I am pointing out
I am definitely biased towards them – probably the only share I have an emotional attachment to so definitely biased.
Results on Tuesday were excellent. The Times summed it all up well in its “Buy” piece. The virus is putting rivals out of business and expectations that Ofgem’s price cap will fall later this year making TEP’s energy prices – which trades as Utility Warehouse – more of a bargain. It is also a decent defensive share.
The big news is dividend is up and WILL be paid out unlike a lot of companies and as long as you are in it by July 8th you’ll get a massive 30p dividend. This is my big income share and I get two massive cheques a year.
If you want to try out any of its services like energy, broadband, phone etc let me know as still a distributor. It is usually in the top 2/3 value providers on which mag. Joining via me will get you free access to the sub email. You could also sell its services too (you get an ongoing cut whenever your customer uses energy or telecoms etc).
I added some more of drugs company Vectura (VEC).I discussed reasons for this one last time – but I’ve added as it gradually seems to be adding one or two pence a day. It is trying to get through the crucial 100p mark at the moment and if it can make a few closes above that, then it would look very bullish. It is in the respiratory market which is much in demand for obvious reasons.
I’ve shorted Trainline (TRN). We discussed this at the online spreadbetting seminar yesterday and I shorted some live. I just don’t see at all why this one is so highly rated! It is not forecast to make a loss this year and next and has somedebt. The bull argument is people will have to buy their tickets online now.
But this looks all in the price. Less people will use trains for some time. I won’t fight the trend if it carries on going up but this looks a reasonable point to bet on it to fall. Also shorted AO world. Made a lot shorting this before and it looks to have risen way too much. Sure, people are buying more stuff online but no profit this a small one maybe next and a load of debt. What’s to like? I also shorted some more Card Factory (Card). Again, I don’t see any value in what looks like a dying business.
Life has moved on and people just don’t buy cards like they used to. Oh, happy father’s day this sunday! I took profits of £695 on ITV – I had some nice gains and fancied banking the profits. I expect I will be back in soon as in the back of my mind that bid will come sooner than later! Elsewhere some big risers for some recent buys. Very nice profits now from Codemasters, Avon, D4T4 and ABDP.
So, all in all, the market sits in a tighter range than it has been waiting for the next move. And that could be a lot higher or a lot lower. You could eitherplace your bets now, or like me, sit – wait and see.Don’t watch “Dogging Tales” tonight on TV. You will see some hideous sights.
I don’t understand people that “dog”.Just do what I do and be a freelance sex doll tester.