as you probably know my computer went down recently and so I've decided to order a new machine from Novatech
. Anyway I missed a few blogs and so I thought I'd write a quick update...
It was a good week despite a rocky start; my portfolio is currently at an all time high and, once again, I'm wondering how long my run of good luck can last! Friday's trading was a bit patchy but 3 or 4 of my positions performed very well and saved the day...
PETRA DIAMONDS LTD gained a massive 18 points and is my best share without exception. I have 8 positions totalling £10/point. This is a classic case of a share rising so quickly that it is probably no longer viable to open any new positions. I managed to buy in before all the good news hit; to be honest I really wish I had 'real' shares in this company!
NAUTICAL PETROLEUM PLC is another example of getting in at the right time - albeit by sheer good luck. This one gained 13.5 points on Friday and is now showing a profit of £115 at £1/point (how I wish I'd taken a bigger bet!). It was only a few months ago that I was wishing this position would stop out - must be a lesson in there somewhere!
TT ELECTRONICS PLC is another rock solid company - slow but steady progress since buying in. I have 6 x contracts totalling £6/point; this gained 4.5 points on Friday to give a current profit of around £250-260. This is another company I would buy shares in if I had the spare money.
IQE PLC gained 2 points on Friday and, again, I have 6 open positions; running profit is about £320 for a total of £28/point. Five of these positions are in good profit, the sixth has yet to go 'blue' so I won't open another position just yet. It's not a fixed rule but I generally like all preceding positions to be 'blue' before opening a new one.
The rest of my portfolio from Friday is the usual mixed bag of gains/losses...
Account funds £2230 so current profit since April '10 is £1410. Hopefully I'm on course to survive the first year in spread betting; however nothing is certain, so I will continue to be careful and to maintain the patience and discipline that has served me well up to now.
One final word: it's really nice to use 'their' money to open new bets! ('Their' being IG Index).
See you tomorrow, Big Al