Goodness me what a start to the year it's been! Late last year everyone was gloomy and expecting the markets to tank badly in Jan and Feb.
They've done the exact opposite of that and it's no surprise given most people lose and commentators talk bollocks most of the time - go against the two and you can usually win!
Traders often forget the market isn't interested in what happened recently, it's interested in the future and so far the market has spoken the future doesn't look so bad, whether they are right or not about that is another matter entirely..
It's been an amazing year so far, I have no idea how much money has come in but it's more than I can ever remember making in the shortest time ever with many shares in the portfolio putting on a stunning performance. Looking around the accounts they look overall to be nearly £175,000 higher totals than at the start of the year...
But ... of course a profit isn't a profit till it is in the bank which is why I never take any credit on a trade for the site till it is safely banked.
Oh and Greece has been saved!! Though I suspect if you talk to the Greeks they won't see it that way.
Let's face it it's just sticking plaster but being the selfish traders we all are, (well aren't we?) we don't care about that for now cos it supports the markets for now and now is all we care about - right?
The FTSE continues to hover around the 5900-5950 area not sure about 6000 however I would think it will get there but 6100 is going to be a massive test.
There's a lot of activity in the smaller oil shares with one or two bids going in, so a busy sector - however last time I saw this happen it wasn't long before there were sorry tales of burnt fingers as those buying at the top got sucked in and then spat out. Smaller oil shares are always a gamble: if you can't stomach the thought of a 50% loss overnnight, or can't afford that, be wary.
Indeed last time this happened it coincided with the market hitting a peak, so longer-term might be a clue to be cautious.
Enough wittering nonsense from me to some trades. I made a whole heap of trades to continue to make hay while the sun shines including a few shorter-term ones. I cannot possibly list them or put them on the site, I would lose the will to live but here are the best of which we will follow for the site.
I hardly ever get invoved with housebuilding and the like, I really struggle with the valuations, net asset values and the rest of it but I can't ignore the fact the sector is hot so I plumped for Taylor Wimpey (LON:TW) and picked up 20,000 at 46.6 targetting around 55p. I reckon I'll be out of there for 20%, well that's the aim! If the sector slides I hope to exit with a small loss.
As you know I am never afraid to buy shares massively higher than I bought them already.
IP Group (LON:IPO) has been a massive winner for me, up 80% fairly quickly. I never mind topping up on winners even if they are already up a lot and I bought some more, 4,000 at 102 as I liked the breakout over 100.
A brilliant announcement shows more upside to come, possibly up to 150 plus in my view. IP has a more than 20% holding in Oxford Nanopore which has made the world's first hand held DNA sequencer, probably worth a fortune for the company. Given this and other brilliant companies in IP's portfolio looks like a likely even bigger winner this year. A potential doubler even after the gains is not out of reach.
I love Nicols (LON:NICL) - a nice under the radar share no-one is interested and it just slowly tracks higher as the weeks go on so I topped up here too nabbing 500 shares at the then sell price of 616 using direct access. Targetting 700 plus on this now and hopeful of a bid from either Britvic of AG Barr at some future time, though tomorrow would be fine!
Carpetright hit 650 which was my cue to go for another short, so another fiver in at 649. I am losing on the original bet at 600ish. It's always dangerous shorting in an up market and even more dangerous in such an illiquid stock as tiny orders can push it up. I still think it's worth only half of what it is now but the market can be irrational for a long time and someone somewhere is working hard to keep it higher including "rumours" of a private buyout. (Why?!) With the idea that someone somewhere can't hold it up this high foreever I'm taking the chance!
Another favourite short is Ocado (LON:OCDO), Made a fortune shorting these from 210 last year and over a quid they look like a short again. Rumours of a bid from Morrison looks unlikely to me. So in for a short again at 30 a point at 109. Targetting about 85p this time.
I was previously a shorter of Blinkx (LON:BLNX) - making a few quid on the way down, now it's halved potentially it's about right so I bought 50 quid on the spreads at 75.
I'm trying a shorter-term swing spread trade in Dignity (LON:DTY) - it tends to bounce off 750 so got a tenner at 755. Often it goes through 800 up to 840 is so hoping for exit around there. If it can't push through 800 reasonably quickly then will take a smaller profit. I would hope to exit pretty fast whatever.
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