Halleynet Headspace

Its been a rout of late, as anone with share will tell you. I am currently mainly in cash though have a few shares I am sitting on (quite content to ride it out on) and also one I made a bit of a stupid mistake on so I am just having to ride it out for the long term.

On the upside I have sold Ascent Resources for an aggregate 88% gain in three months or so, got out around 31p and they have since droppe dint he recent panic to the low 20′s. They might be worth looking at again when it blows over (if it ever does). My long term hold Kenmare, I was stopped out of unfortunately. This is a quality little company I have been into since 10.5p. They are due to start becoming cash generative next month but the shares  have been hit by a slide in miners generally. I decided to cut and run with my profits before more turmoil took over. They peaked at 67p recently but have dropped back- and I got off at 54p.  ( I had over 54000 shares in a range from 10.5 p to 50p) I would think about buying back in- long term they have very good prospects but I may be repositioning the portfolio and looking to others for better forward gains having banked profits.

Centamin- I sold out for a modest 15% or so profit before watching them hit 60p or so. They were tipped for a buy out this side of the year. Whetehr that ever comes int he credit crunch days I dunno but of late they are back at 40p again, and if things calm down may buy back in as I think most of the downside is realise din recent falls.

Jubilee Platinum- this has been a sore one. This company has valuations as high as 220p a share and I have been in and out since 33p, recently they went to 129, and I was sitting on a bucket load in both my ISA and dealing account. They started to slide recenly and having been in and out and the charts looking quite supportive I decided in my wisdon on the last drop back to sweat it out- I was several ’000 up , what could possibly go wrong!

They continued to slide then CEO Colin Bird decided to punt over 1/3 of his holding at 108p “apparently” to diversify his portfolio, and to provide stock to brokers to increase liquidity in South Africa (They are dual listed) The shares were then rated a sell in Shares Magazine and have since tanked. Now at 70 p- ouch ouch. I got out of some  for a 25% loss but stil have loads in the ISA and will nee dto ride this out now I think. There has been no bad news really and prospects are still good, but Bird selling was a cock up I think. I seen recently on a BB he posted to another member that the house broker said that his sale had not done anything to undermine the valuation of the company and JLP had not suffered any worse in recent turbulence than any other equivalent company. My arse it hasn’t. As ever though at these levels, they may make a buying opportunity.

I am still long in

Mercator Gold
EMED- been resilient so far and looking for a multi bagger here in the next year or two
Sirius Exploration- a real punt
Kryso Resources
IImia Investments- a well run investment co with loads of cash
IQE: A tech co in wafer fab with a growing order book amongst the big boys
Glencar Mining- A small miner not much happeneing here right now
African Eagle- A dog in my portfolio- everyone should have one! woof. Probably a buy right now but I got in at 18p and they are now at 13p. But they have prospects longer term so I sit it out.
On the spreads its been a bit up and down. I am roughly break even right now. I got fed up withthe crap platform offered by Barclays (City index) and have switched to IGIndex who have an excellent platform. As a result I have been taking small trades in the DJIA, FTSE. I have had some successful trades in VOD, BHP Billiton, and RIO. and a mixture of results in DJIA and FTSE. My one bad loss has been in NOP. So far I remain close to break even point so nothing to fret about and learning a load all the time. This is a very tricky market to play right now- for example the DJIA took a leap in 60 seconds of 300 points on Friday when the Fed announced and emergency rate cut. If you were in and long you wer elaughing all the way tot he bank, if short you were crying- I was just a spectator!

Interesting shares for trading- Maypeley- these have been tanking for months, and have risen recently but will probably tank again.
VOD, trade in a range of about 10 points so good for small but steady profits.

One to watch FT (France Telecom- these have been moving steadily against the general market direction. Hese look to be range bound over a longer period and I doubt we will ever see the upside of 25euros needed for some share option schemes I have. Currently they look to be consolidating round the 20-21 euro mark.

But you can see in 5 years have basically done nothing.

Here you see the near term view and the channel they occupy.

The daily RSI is at 55 which is a good buying position andthe 21 day Moving Avrage is close to forming a golden cross. This would be a buy signal. IMO.

 Finally note there is a gap between1450 and 1550 (this chart is in pence not cents) and this might need to be closed though it did occur a few months back.