Welcome to the latest instalment of The Crap Traders blog where I’ll be going over what my portfolios have been doing over the past week, along with some general rambling about the things I’ve been getting up to away from the markets.
This weekend saw Mrs CT and myself travel to Hinckley to celebrate the marriage of her brother and his lovely fiancée. Luckily the weather just about held out for the outdoor ceremony, well I say held out, there were a few spots of rain halfway through but no more. It’s just a good job it wasn’t any later as shortly after we got back inside the rain came and didn’t leave again all night! I think I must have eaten something dodgy earlier in the day as I definitely wasn’t feeling myself the next morning. I also have absolutely no idea why I had a lingering taste of Sambuca in my mouth either!!
Sunday afternoon we finally settled down to watch the first episode in the new season of Game of Thrones! We were late comers to this epic series having only started watching it a couple of years ago but I’ve been looking forward to this since we finished season 6 a few months back. It was a slow episode but I feel it was laying the groundwork for the fireworks to come, of which there’ll no doubt be a lot!
I also stuck on the first episode of the Netflix series Narcos on Tuesday evening to see what the fuss is all about. I have to say I was very impressed, I’ve added it to my watch list, although that means I’ll have to watch it again as Mrs CT was working away and we tend to watch these things together!
Please note I am not tipping any shares and would seriously encourage anyone reading this to carry out thorough research on any company they are thinking of buying!!!!!!
So not too bad a week overall really, portfolio has moved up a touch with encouraging gains from recent buy Morgan Sindall (MGNS) and also BooHoo (BOO) has started to move up after hovering around the 220p mark. I had relaxed my stop a little bit on the latter as from experience I’ve noticed the price tends to drop quite markedly before it springs back up beyond previous highs. This is what happened to me the first time I held this share and I got stopped out whilst making me nervous I would lose my gains, since then I think it’s trebled in price! So hopefully I’m being a little wiser this time and it’ll pay off longer term.
A slight cause for concern is the drop of Taptica (TAP), it appears to have dropped around 12% from recent highs. Again I’m trying to be wise and not panic into selling as I personally see no immediate reason for the drop, there was a very encouraging recent update. This is where I have to keep telling myself to look at cold hard facts rather than looking at day to day price movement, something which I am quite guilty of! To use a Naked Trader character assessment, be less like Jones ("Don't panic!!"), for those Dad’s Army fans!
Finally this brings me onto my only trade this week, and a first for myself! I’ve bought a new issue! Well, bought it as soon as it came on the market for the first day, I think I was a little late to the party to try and buy the IPO. The company in question is Quiz (QUIZ), a women’s fashion outlet with a number of stores nationwide as well as an online store. The facts released prior to listing appear encouraging in their own right, and I’m also hoping there is a large interest with similar companies such ASOS and BooHoo both showing amazing gains in recent years. I managed to get hold of some a touch under 187p first thing this morning.
Until next time…
Well what do we have here? I bet all 2 of you who read this blog thought I'd fallen off the face of the earth no?? Well fortunately not, I have however been pretty damn busy with work and general life! Trying to balance a hectic work, family and social life has never really been my strongest trait so as you can see, blog updates have been non-existent for much of this year. I will desperately try to rectify that in the coming weeks/months though so keep your eyes peeled.
I’ll try to use this update to give as brief an overview as possible on my investing has been going so far this year but I apologise in advance if this post is a bit long winded!
First of all the bad! Management Resource (MRS) finally came out of suspension in May at a heavily discounted price of 5p which I immediately sold at taking a heavy, heavy loss. It hurt in a monetary sense, however I was quite relieved to be rid of at long last. No more taking penny stock tips from Twitter from me!!!!
I spent a short time holding Empresaria (EMR) after it had broken out into it’s 52 week high. However very quickly it came back down again and hit my stop in place to sell for a 10% loss. As it stands today it’s down even further so a good move in the end!
As mentioned in a previous post I had been keeping an eye on Taptica (TAP) and eventually added it to my SIPP in the middle of last month. This is a very similar company to the already held XL Media (XLM) which did make me hesitate, however the figures were very encouraging, the chart was in a very nice upward swing and there was a trade update due soon and thought it looked too good to miss out. This has really moved upwards breaking into new highs this past week and currently sees me sitting on a paper profit of 28%. XLM is also at a healthy 22% profit at the time of writing so for the time being I’m more than happy to hold both.
Last month saw me dip my toe back into Boohoo (BOO). After months of stewing and moaning about the fact I sold last year for around a 1/3 of its current price, I saw the plans for the expansion of the distribution warehouse to cater for a huge increase of revenue and was enough to see me back in. Slightly down currently on this one but happy to look longer term with this rapidly growing clothing brand.
Creightons (CRL) released its full year results at the end of June which made very good reading. Significant revenue increase and its operating profit was up by a whopping 171% year on year. This is a slightly smaller company than I would normally go for with a market cap of only 22 million, but the figures speak for themselves and the company really do seem to be going places. I feel it could be a touch volatile but fingers crossed I’m onto a winner here.
Finally there is the purchase of Morgan Sindall (MGNS), who released a trading update with the very much sought after phrase “trading for the 6 months to 30 June 2017 has been substantially ahead of the previous year”. The profit to market cap ratio from the previous results still show that this appears to be slightly on the cheap side, so I’m expecting a decent rise here in the run to the results being announced.
That’s all I’ve got for the moment, but like I say I’ll be trying to keep this updated a bit more regularly. If you’d like to know when I post on the site please use the link in the top right corner to subscribe to the website.
Confessions of a Crap Trader is a blog following a regular investor trying to make profit via the London Stock Exchange. Follow his journey as he attempts to hopefully one day pay his mortgage off in full!