Hello all and welcome to the next installment of my blog! I realise this is somewhat belated as I've not posted for 3 weeks now so apologies there! This is partly due to laziness on my behalf, and then searing back pain which left me unable to leave my own bed! When I say unable to leave the bed, I mean literally, even the slightest movement caused excrutiating pain that I can't even begin to explain! I am now well on the road to recovery and fingers crossed I'll be back to full fitness soon and while this means I can't go to the gym etc. like usual, it's a massive relief just to be able to walk normally!
In between this set back I've mostly been doing what everybody else does at this time of year, drink too much and generally get into the festive spirit! My PT certainly won't too overly pleased when I eventually report back with an inflated stomach! As usual I'm leaving most of my Christmas purchasing too late which means I'll be firmly in the panicking mode come next week, it's funny how we never seem to learn, or is that just me?
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.
Not a great deal has been going on, although HAT dropped enough triggering it's stop loss I had in place at 260p making me take a loss of around 10%. Now this makes my total website gains, errr not be gains but a loss over all! Not to worry though, it's part of the process and to be honest I'd rather be transparent with my trading, not so much to anyone who visits but more to myself. This is the whole reason for creating this as I mentioned in my first update, I've got nowhere to hide from myself in a way, it's there for all to see!
Elsewhere with my current holdings, MRS is still suspended with no real firm date of applying for that to be lifted, it appears there have been some fairly serious financial fiddling going from the original CEO. He has now been removed from the company and the rest of the board appear to be trying to get everything back up and running to a satisfactory level. Fingers crossed it won't take a massive hit (or even worse fold!!), but I'm not getting my hopes up too much. I've already resigned myself to fearing the worst so anything more is a bonus.
ESP is still hovering around the same level, though they have recently announced an extension to it's existing fixed rate term loan, giving them more finances to purchase more student halls.
BKY still holding firmly and have released a couple of positive updates in the past couple of weeks. The first being the completion of the Offtake Agreement with Interalloys, doubling the original contracted volume to 2 million lb with the option to extend even further. There are also other potentially similar deals in the pipeline also, further adding to the long term strength of this in my view. The company has also purchased additional land around the Salamanca mine after the recent oversubscribed placing "which will accelerate the development" of said mine. I'm currently sat at 20% profit on this though have no intentions of selling for awhile.
There have been no further updates from SOM in my absense but again I continue to hold into a profit (10%), it just seems a little bit stuck under 230p presently, all in good time though!
I've just been going through some recent breakouts and shares with positive news released today, and one which really sticks out is IQE, a company who make electronic (not McCains) chips for various uses such as smartphones, various photonic devices (optical networking, dvd drives etc.) and a whole host of other uses. They posted a rather bullish statement this morning containing one of my favourite phrases, "ahead of expectations" when referring to profit, when it's year end results are published in March. The statement has seen the price increase by a decent 7% today, but even with that in mind it still seems to be at a decent price currently. Very tempted to purchase some and will be keeping an eye on it in the coming days.
I've updated my Trades page to reflect dealings made.
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!