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…
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!