Week 525 Review - Lots of profits taken and Jubilee Metals rescues a bad week

A pretty poor week for most of the portfolio, with some big drops for magic formula shares and the SIPP absolutely hammered. However, thanks to a revival in JLP:Jubilee Metals, the deficit between cost and value only worsened by £246, and that's despite me realising £1,900 in profits, so it really feels like I'm £1,650 up. The deficit between cost and value is now £137,678 and the deficit between injection and value is down to £59,792. Total portfolio value increased to £116,190.

Worst performer was AMP:Ampeak Energy which re-branded from SAE:Simec Atlantis Energy and promptly dropped 11% to go 70% down.

FDM:FDM Group has been an utter disaster of a magic formula investment. It dropped 7% this week after a rally last week and is now 61% down. At some point I will probably buy more to average down, but not until the share price starts going up for some length of time.

IPX:Impax Asset Management looked like it might be creeping back up, but dropped 7% this week to go 59% down and join FDM as a disastrous investment. As with FDM, I will buy more but not until there is upward momentum, as their fundamentals remain strong.

PAGE:Pagegroup is in the same bracket as the two shares above, and also dropped 7% this week to go 53% down. They are still profitable and will turn around once people start recruiting staff again, at which point I will buy more.

PSN:Persimmon dropped 5% in a week most housebuilders got battered. These are now 27% down after being in profit not that long ago.

There was good news for ARBB:Arbuthnot Banking which went up 6% and is now only 2% down. Things are looking promising for these getting into profit, and they have returned to my top 50 ranking after briefly dropping out, so I will keep them.

Share of the Week was JLP:Jubilee Metals which went up 14% after the vote to sell the South African operation was passed. Hopefully that can generate revenue quickly and start a recovery in the share price, especially if we spend some of the cash on more copper assets in Zambia.

Here's the ISA and shares portfolio after week 5 of year 11.

			Weekly Change
Cash	£81.08		+£0
Portfolio cost	£115,878.07		+£0
Portfolio sell value (bid price-commission)	£40,463.06	(-65.1%)	+£1,536.07
Potential profits	£89.00		-£14.85
Yr 11 Dividends	£0		+£0
Yr 11 Interest	£0		+£0
Yr 11 Profit from sales	£0		+£0
Yr 11 proj avg monthly profit	-£6.91	(-0.1%)	+£1.72
Total Dividends	£12,488.07		+£0
Total Interest	£8.57		+£0
Total Profit from sales	£17,560.27		+£0
Average monthly cash profit	£243.35	(3.4%)	-£0.46
(Sold stocks profit + Dividends - Fees / Months)

I big rise of £1,536 mainly thanks to JLP:Jubilee Metals as I have 410k shares in this account. My holdings are still over 50% down, but I'm reasonably optimistic they will creep up over the next 18 months or so. I'll be holding the ones in this account for the long term, in the hope of massive dividends.

Potential profits dropped £14 as BOKU:Boku fell 1%, and Year 11 performance will remain negative until I can sell something or get a dividend, as the monthly fees are pulling it down.

Sneaking up.

Back on the trend line, but no sign of holding above it.

One day I'll sell something.

The SIPP looks like this after week 509 overall and week 41 of year 10.

			Weekly Change
Cash	£1,727.87		+£1,515.25
Portfolio cost	£136,181.59		+£413.15
Portfolio sell value (bid price - commission)	£73,918.31	(-45.7%)	-£1,782.79
Potential profits	£5,490.23		-£1,809.53
Yr 10 Dividends	£1,532.07		+£25.85
Yr 10 Interest	£3.96		+£0
Yr 10 Profit from sales	£6,163.96		+£1,902.55
Yr 10 proj avg monthly profit	£794.77	(10.7%)	+£189.04
Total Dividends	£17,648.72		+£25.85
Total Interest	£16.86		+£0
Total Profit from sales	£23,171.90		+£1,902.55
Average monthly cash profit	£334.37	(4.5%)	+£15.79

This is going to be complicated!

First of all I had some dividend cash and in the hope of a JLP:Jubilee Metals revival following the vote on disposing of the South African operation, I bought 5,000 shares at 3p costing £155. They are now worth £165 so it may have actually worked.

I'd been concerned about a couple of shares falling outside the top 50 of my refreshed magic formula rankings, but decided it was down to them having 0% ROI. I realised however, that if I remove ROI from the rankings, they still fell outside the top 50, and the reason I wasn't selling them was because I like them. That's going against the whole point of the magic formula system, as there are better value companies above them in the rankings.

The first one I sold was IGG:IG Group which had fallen to 139 in the rankings. I sold them for 1153.04p and made £617.01 (40.3%) profit. I'd also had £279 dividends, so my return was actually 59%. That liberated £2,132.

I completely forgot about my plan from last week to keep the cash and set up regular investments, which is very vexing, so I initially bought another 21 shares in RIO:Rio Tinto at 4614.9113p costing £985.93. That takes my holding up to 61 shares at an average of 4925.119p costing £3,055.19. They are currently down by just 8% after averaging down and the price rising after I bought them. They are only down 3% if you include the dividends. I like their exposure to copper, which I think is going to rocket soon.

The next purchase was a new share INVP:Investec. They are ranked 31st in my magic formula ranking, which only just qualifies them for purchase, but they have a strong 6% dividend, high growth over the last 5 years of 32%, no debt and an upward momentum since April this year. I bought 206 shares at 547.5p costing £1,145.44. The price dropped 1% after I bought them, so they are 4% down mostly on spread and commission. They are ex-dividend so unfortunately I'll have a bit of a wait until the next one.

I'd been watching GGP:Greatland Resources ever since they bought the Telpher mine and started generating pretty big profits that should fund their other exploration projects. I decided having all my gold investment in PAF:Pan African Resources was a little risky, so it was time to top-slice a little profit and move some of it into GGP. I sold 1,912 shares at 62.6602p making £599.15 (100%) profit and liberated £1,186.11. I bought 455 shares in GGP at 266.6999p costing £1,225.43. Although the offer price stayed at 270p, the spread is quite wide so the bid price is 3% below that and my holding is 4% down if you add commission.

The next share to fall out of the top magic formula rankings was AJB:AJ Bell which is now 129th. I sold my 330 shares at 511.331p making £686.40 (68.5%) profit and liberating £1,682.39. This time I remembered my plan to hold the cash and buy small monthly investments of £250.

I added RAT:Rathbones Group to my next investment on 10th September, as they are 23rd in my Magic Formula ranking with a 5.34% dividend, 11.4% ROI, 6.51% debt to equity ratio and 4.4% 5-year earnings per share growth. They have been on a big rise since April but have dropped a little recently. I'm hoping the momentum is still upwards.

My other addition is PRU:Prudential, which is ranked 125th in my magic formula due to high debt and low dividend, but I've wanted to invest in it for ages and there's a possibility of some good shareholder returns as they sell off part of the business, so although I may regret turning my back briefly on the magic formula, I want to add them to my portfolio. These will also appear on 10th September and I have enough cash to keep this up for 3 months, and can hopefully generate £500 between now and 10th December to make it 4 purchases and around £1,000 in each investment.

Given I made £1,902 profit and potential profits only dropped by £1,809, the other profits increased by about £100.

The profits took my Year 10 performance past my target 10% to 10.7%, and if I sell nothing else in Year 10, I will still earn 8.4% which would be the best year for a while. I am however expecting lots more dividends, so as long as I don't realise a loss, it's looking good. My long term performance only improved by £15 a month and 0.2% to 4.5%, so it's going to take some epic profits to get up to 10%. I'm hoping JLP:Jubilee Metals will deliver me some of that.

I also had a £25 dividend from UKW:Greencoat UK Wind.

Getting closer to the injection line, as that includes the cash.

The big drop to the trend line is due to taking all the profits, but I think it was a worthwhile sacrifice.

Look at that little beauty! I'd like to think this is evidence of the magic formula system bearing fruit.

I had a bit of a scare, as the website I use for my magic formula ratios has removed financials from the available options. Fortunately I discovered that if I view the summary page and paste "-ratios" in the URL, I can still get to the pages. The worry is that they are going to stop supporting that data, which would mean me having to find a new source of data for my calculations. Fortunately I won't be updating it for a year, although I do want to complete my new AIM magic formula rankings, which I should maybe do sooner rather than later, as that's how I found BOKU:Boku, but I've not yet included all AIM shares so it's not a proper ranking unless they are all included

Week 524 Review - Best week for a while.

A pretty good week across the whole portfolio, with the deficit between cost and value narrowing by £1,574 to £137,431 and the deficit between injection and value to £61,474. Total portfolio value has increased to £114,508.

The only big faller was ALU:Alumasc Group which dropped 6% for no obvious reason. Results are due in a couple of weeks so it could just be people selling before then in case they disappoint.

YU.:Yu Group went up 5% after a shaky start over the few weeks since I bought them. My holding is only down by 1% now.

CWR:Ceres Power has been very volatile and went up 7% this week, but my holding is still 46% down.

Share of the Week is FDM:FDM Group which went up 12% after a recent crash on underwhelming results. It suggests the drop was over-done but my holding is still down 58%.

Here's the ISA and shares portfolio after week 4 of year 11.

			Weekly Change
Cash	£81.08		+£0
Portfolio cost	£115,878.07		+£0
Portfolio sell value (bid price-commission)	£38,926.99	(-66.4%)	+£544.09
Potential profits	£103.85		+£39.60
Yr 11 Dividends	£0		+£0
Yr 11 Interest	£0		+£0
Yr 11 Profit from sales	£0		+£0
Yr 11 proj avg monthly profit	-£8.63	(-0.1%)	+£2.88
Total Dividends	£12,488.07		+£0
Total Interest	£8.57		+£0
Total Profit from sales	£17,560.27		+£0
Average monthly cash profit	£243.81	(3.4%)	-£0.47
(Sold stocks profit + Dividends - Fees / Months)

Fairly quiet. Portfolio value went up £544 and potential profits by £39 thanks to BOKU:Boku going up 4%. Most holdings were up a small amount and OPTI:Optibiotix was flat.

A few weeks of positive momentum

Going in the right direction, but still below the trend line.

The SIPP looks like this after week 508 overall and week 40 of year 10.

			Weekly Change
Cash	£212.62		+£62.50
Portfolio cost	£135,768.44		+£0
Portfolio sell value (bid price - commission)	£75,287.95	(-44.5%)	+£1,030.16
Potential profits	£7,299.76		+£262.56
Yr 10 Dividends	£1,515.52		+£0
Yr 10 Interest	£3.96		+£0
Yr 10 Profit from sales	£4,261.41		+£0
Yr 10 proj avg monthly profit	£605.73	(8.1%)	-£15.53
Total Dividends	£17,622.87		+£0
Total Interest	£16.86		+£0
Total Profit from sales	£21,269.35		+£0
Average monthly cash profit	£318.58	(4.3%)	-£0.63
(Sold stocks profit + Dividends - Fees / Months)

Cash went up thanks to a tax rebate, portfolio value up £1,030 and potential profits up £262 greatly helped by CAML:Central Asia Metals going into profit.

Maintaining the gap below the injection line

Above the trend line at last.

OPTI:Optibiotix released two lots of reasonably good news this week and still remained flat, so there remains little hope of any sort of share price recovery until some big Sweetbiotix news hits, and there's still no prospect of that. Meanwhile it's the EGM for JLP:Jubilee Metals on Thursday so we should get the vote for selling South African operations, and there's a vague possibility a yes vote will have a positive effect on the share price.

Week 523 Review - A dreadful week rescued by Optibiotix.

It was a bad week across most of the portfolio, but a good week for OPTI:Optibiotix rescued it and the deficit between cost and value reduced by £1,633 to £139,005 despite me taking £580 profits. The deficit between injection and value narrowed to £63,111 and total portfolio value increased to £112,871.

The biggest faller was BEZ:Beazley which dropped 14% after H1 results, which seemed way over-done considering they were still very profitable. My holding is now 20% down after just a few weeks, but I've re-set my monthly investment to these, as I'm anticipating them slowly moving back up, and I can average my price down over the next few months. My next purchase will be around 20th August so they will be cheap.

SAE:Simec Atlantis Energy dropped 13% which was likely profit taking after a big rise last week.

TLOU:Tlou Energy dropped 13% but it moves by that amount regularly.

SBTX:SkinBioTherapeutics dropped 11% after an underwhelming trading update saying revenue would be below expectations. They still look like becoming profitable by next year, and surely a Croda deal will be announced soon?

FXPO:Ferrexpo dropped 7% and are now 89% down, so if they drop next week I won't have to report it as they will pass the 90% down mark.

IES:Invinity Energy dropped 7% and I suspect will continue to slide until there's evidence of revenue coming in.

TRX:Tissue Regenix is another one that has a recent spike upwards and is now drifting back down, falling another 7% this week.

PSN:Persimmon gave solid H1 results but still slipped 5% and are now 25% down.

FOUR:4imprint crashed last week despite decent H1 results, but bounced back 6% this week. Fortunately my regular investment went through just before the rise, so my holding is only down by 24% which is significantly better than before I started buying a little each month. It is a really good way to buy shares. Unfortunately buying small amounts only really works with the monthly investment process, because the commission is just £1.50. I suppose if I built a decent cash buffer then I could put in multiple monthly purchases. It would mean I'd spend £6 on commission for every £1,000 instead of £5 but would give me the advantage of potentially buying cheaper shares or being able to switch strategy if I decide the company I picked was a mistake.

Share of the Week is OPTI:Optibiotix which went up 15% after announcing a new Slimbiome contract in USA. This is quite a big one and could see the company into profitability even without the Sweetbiotix revenue, if it ever appears. It's a while since we got a decent rise in OPTI though, and it nullified all the big drops everywhere else.

Here's the ISA and shares portfolio after week 3 of year 11.

			Weekly Change
Cash	£81.08		-£4.22
Portfolio cost	£115,878.07		+£0
Portfolio sell value (bid price-commission)	£38,382.90	(-66.9%)	+£1,016.53
Potential profits	£64.25		-£39.60
Yr 11 Dividends	£0		+£0
Yr 11 Interest	£0		+£0
Yr 11 Profit from sales	£0		+£0
Yr 11 proj avg monthly profit	-£11.51	(-0.2%)	-£11.51
Total Dividends	£12,488.07		+£0
Total Interest	£8.57		+£0
Total Profit from sales	£17,560.27		+£0
Average monthly cash profit	£244.28	(3.4%)	-£0.50
(Sold stocks profit + Dividends - Fees / Months)

Not much happened. Monthly fees dropped cash by £4 and BOKU:Boku dropped 4% and knocked £39 off potential profits. OPTI:Optibiotix helped portfolio value go up by £1,016.

I've dropped the compound performance stat from the table above when I realised that it's just showing long term average monthly cash profit multiplied by the number of years I've been doing it, which is a waste of time.

Still grim

Still below the trend line

The SIPP looks like this after week 507 overall and week 39 of year 10.

			Weekly Change
Cash	£150.12		-£457.48
Portfolio cost	£135,768.44		+£1,043.72
Portfolio sell value (bid price - commission)	£74,257.79	(-45.3%)	+£616.84
Potential profits	£7,037.20		-£733.09
Yr 10 Dividends	£1,515.52		+£9.35
Yr 10 Interest	£3.96		+£0
Yr 10 Profit from sales	£4,261.41		+£580.29
Yr 10 proj avg monthly profit	£621.26	(8.4%)	+£50.51
Total Dividends	£17,622.87		+£9.35
Total Interest	£16.86		+£0
Total Profit from sales	£21,269.35		+£580.29
Average monthly cash profit	£319.21	(4.3%)	+£4.39
(Sold stocks profit + Dividends - Fees / Months)

Lots happened here.

First there was my regular monthly investment into FOUR:4imprint where I bought 7 shares at 3199.1185p costing £226.56. They ended the week at 3365p so it was a rare well-timed purchase.

I had some dividend money and the left overs from the monthly savings, so I also bought 92 shares in CAML:Central Asia Metals at 157.4727p costing £149.87. That's less than I would normally spend, but the £5 commission at AJ Bell makes smaller purchases a little more bearable than on HL where I pay £11.95.

I decided to sell BHP:BHP Group because the issue with the litigation from the burst dam years ago is still hanging around. It stopped my buying for years, and the fact it still hasn't gone away is too much of a worry, so I sold my 63 shares for 2004.452p and made £52.06 (4.3%) profit, or 5% if you include the £9 dividend. I went back to my magic formula and selected CKM:Clarkson, which is ranked number 11 and also ranks in the top 30 every time if I remove one of each of my four measures and re-rank. I bought 33 shares at 3574.104p costing £1,190.35. They dropped 3% since I bought them and are 4% down when you include spread and commission.

Next I decided to top-slice a little profit from PAF:Pan African Resources, as it was up by 102% and I could do so and still have over 10,000 shares. I sold 1,800 shares at 60.7476p making £528.22 (93.4%) profit. It was a shame I sold on a mini-dip, as it's now back at 102% up. I selected another magic formula share and bought 320 shares in FSV:Fidelity Special Values at 380.6p costing £1,235.96. They went up by 0% but are still 2% down on spread and commission.

The end result was the portfolio cost going up by £1,043, and value only going up £616 due to removing £580 profit. Potential profits dropped by £733 altogether so I lost another £253 on top of what I banked.

Year 10 performance is looking great at 8.4%, but long term performance only increased by 0.1% to 4.3% which is half of my original target 10%.

I also got a £9 dividend from GAW:Games Workshop.

Remarkable how I'm maintaining such an even gap beneath the injection line.

Just above the trend line but not enough to make any difference

This one's quite pleasing and suggests my magic formula approach may be bearing fruit. Unfortunately there's all the original stuff spoiling it, and they steadfastly refuse to increase enough for me to sell and switch to magic formula.

I am now at the stage where there are only 2 more magic formula shares I'm looking at. One is JHD:James Halstead and the other is KNOS:Kainos Group. The problem is they are both in steady share price decline, and I've learned my lesson from FDM:FDM Group that now is not a good time to buy them. The only way I can rescue myself with FDM is to start adding in my monthly investment once the price starts heading upwards. I did that successfully with IGG:IG Group and it seems to be happening with FOUR:4imprint too. I'm not catching a falling knife, but averaging down as their price heads up. With that in mind, all new purchases will be increasing my holdings in existing magic formula shares until I refresh the rankings next year.

Thinking more about what I mentioned in the FOUR:4imprint review at the top of the blog, I do quite like the idea of leaving a big lump of cash and setting up monthly investments with it. It means I earn interest on the cash, keep an emergency pot, and spread the risk when I'm buying shares. Next time I sell something I'm going to keep the cash and set up a new monthly investment for £250 and see how that works.

Week 522 Review - Big drops in my largest holdings but SIPP fights back.

An absolute disaster of a week, with big drops in my two largest holdings taking me to a record low. It would have been a lot worse had some SIPP shares not rallied and halved what the losses would have been. The deficit between cost and value widened by £2,531 to £140,639 and the deficit between injection and value widened to £65,326. Total portfolio value dropped to £110,656.

Worst performer was FOUR:4imprint which gave a good update but did its usual "uncertain times due to tariffs" comment and the share price promptly dropped 11% taking my holding to 33% down. The good news is that I'm buying as my monthly investment next week so I'm happy for the price to drop just before that.

JLP:Jubilee Metals dropped 10% after a production update from Zambia. The results weren't bad, but some big private investors have given up waiting and sold out. Hopefully now they're gone we'll get a bit of a break, as I piled a lot of money into these and the drop has been a disaster for my portfolio value.

OPTI:Optibiotix is by far my biggest holding and dropped 9% after a heated AGM where disgruntled shareholders are trying to get the board replaced. Thankfully they failed, although they had over 30% of the vote. They wouldn't be moaning if the share price wasn't so low, but surely their own actions are now contributing the the share price falling? Nobody would touch OPTI with a bargepole at the moment. Only big contracts and revenues can save us.

TRX:Tissue Regenix zoomed up a few weeks ago and is now zooming down again, dropping another 9% this week.

TLOU:Tlou Energy had its usual random big move, dropping 8% this week.

IPX:Impax Asset Management has been on a recovery run recently, but dropped 5% this week to take my holding 59% down. I should really buy some more.

FXPO:Ferrexpo zoomed up 24%, possibly because of Ukraine peace talks, but it will be short lived as I doubt peace is coming any time soon, and even if it did, the Ukrainian government are out to get FXPO anyway, withholding VAT relief.

SAE:Simec Atlantis Energy went up a massive 67% after agreeing contracts for their battery storage project, but they don't deserve Share of the Week as they are still a basket case, but mine are only down 62% now.

FDM:FDM Group climbed 5% proving that last weeks drop was over-done, but my holding is still 62% down.

PAGE:Pagegroup went up 5% too, but are still 47% down.

CAML:Central Asia Metals climbed 6% which is great news as they are one of my biggest holdings, and the rise helped offset the other big drops.

Share of the Week is PAF:Pan African Resources, which climbed 12% to take my holding 102% up, and it's one of my bigger holdings so really helped reduce this week's woes.

Here's the ISA and shares portfolio after week 2 of year 11.

			Weekly Change
Cash	£85.30		-£483.75
Portfolio cost	£115,878.07		+£500.00
Portfolio sell value (bid price-commission)	£37,366.37	(-67.8%)	-£2,563.12
Potential profits	£103.85		-£14.85
Yr 11 Dividends	£0		+£0
Yr 11 Interest	£0		+£0
Yr 11 Profit from sales	£0		+£0
Yr 11 proj avg monthly profit	£0	(0%)	+£0
Total Dividends	£12,488.07		+£0
Total Interest	£8.57		+£0
Total Profit from sales	£17,560.27		+£0
Average monthly cash profit	£244.78	(3.4%)	-£0.50
(Sold stocks profit + Dividends - Fees / Months)
Compound performance	34%		+0%

Cash dropped as I bought my 5,000 shares in the AFC:AFC Energy retail offer at 10p. Shame they were worth 9.5p as soon as I bought them.

Huge drop in portfolio value and small drop in potential profits as BOKU:Boku dropped 1%.

Nasty

Woeful

Dire

The SIPP looks like this after week 506 overall and week 38 of year 10.

			Weekly Change
Cash	£607.60		+£183.90
Portfolio cost	£134,724.72		+£0
Portfolio sell value (bid price - commission)	£72,597.23	(-46.1%)	+£31.59
Potential profits	£7,770.29		+£832.95
Yr 10 Dividends	£1,496.87		+£200.56
Yr 10 Interest	£3.96		+£0
Yr 10 Profit from sales	£3,681.12		+£0
Yr 10 proj avg monthly profit	£570.75	(7.7%)	+£6.11
Total Dividends	£17,613.52		+£200.56
Total Interest	£16.86		+£0
Total Profit from sales	£20,689.06		+£0
Average monthly cash profit	£314.82	(4.2%)	+£0.95
(Sold stocks profit + Dividends - Fees / Months)
Compound performance	41%		+0

A positive week despite the big drops goes to show the advantage of having magic formula companies in this portfolio. Potential profits soared by £832, most of which was PAF:Pan African Resources and also some loss-making companies moving into profit. Another 5p increase in CAML:Central Asia Metals will see them go into profit, and every 5p increase from there is worth £300.

I had a healthy £200 in dividends made up of £36 from N91:Ninety One and £164 from POLR:Polar Capital.

Not bad.

A fraction above the trend line, but not enough to start moving it.

I'd be happy if this chart keeps going like this.

Not much to look forward to next week. I'm due one dividend, and then it's just a case of whether OPTI:Optibiotix is going to drop any further and if JLP:Jubilee Metals circulate details of selling the South Africa operation, as that could be the catalyst for some interesting purchases in Zambia.

Week 521 Review - Dreadful week wiping out all recent gains.

A pretty dreadful week, especially for the SIPP which had a torrid time. The deficit between cost and value widened by £2,584 and wiped out the gains from the last few weeks. It now stands at £138,107 which I'm pretty sure is a record. The deficit between injection and value increased to £62,975 and total portfolio value dropped to £112,987.

The biggest faller was FDM:FDM Group which plummeted 40% after pretty dreadful results. I'm confident that the company is robust enough to weather the downturn, but the share price has been dropping continuously for some time now. This is a prime example of not buying a magic formula share unless it has positive share price momentum. I do think the price has dropped too far though, so may attempt to average down, but only once there's positive momentum.

IES:Invinity Energy dropped 13%. I'm not sure why, but if it drops another 2% it will be 90% down and at least I won't have to report on it any more.

PBX:Probiotix Health dropped 11% and will no doubt continue to slip until more news comes out.

PAGE:Pagegroup may have been hit by the recruitment malaise after FDM results, as they dropped 9% after a recent recovery.

TRX:Tissue Regenix went down 8% so I should have known the recent upwards spike was going to be short lived.

AFC:AFC Energy dropped 7% and are now below the 10p retail offer price, but I'm keeping my order in as it is pretty close and I don't have commission to pay.

UKW:Greencoat UK Wind dropped 7% and lost all recent momentum.

IHP:Integrafin soared on results the other week but dropped 6% this week possibly due to profit taking. I'm now only 2% up on these.

IPX:Impax Asset Management fell 5% after a recent rally and are 57% down.

SAE:Simec Atlantis Energy went up 6% for no obvious reason, but are still 78% down.

ARBB:Arbuthnot Banking went up 9% after reports suggesting they are undervalued. My holding is only 7% down now. I'll still be selling them if they get into profit, as they have fallen out of my magic formula top 50.

TLOU:Tlou Energy went up 9% bit it appears to be the usual volatile swings for no reason.

Share of the week is CWR:Ceres Power which went up 18% after announcing Doosan have started mass production of their fuel cells. My holding is still 47% down but I feel a little more hope now.

Here's the ISA and shares portfolio after week 1 of year 11.

			Weekly Change
Cash	£569.05		-£4.06
Portfolio cost	£115,378.07		+£0
Portfolio sell value (bid price-commission)	£39,429.49	(-65.8%)	-£672.42
Potential profits	£118.70		+£19.80
Yr 11 Dividends	£0		+£0
Yr 11 Interest	£0		+£0
Yr 11 Profit from sales	£0		+£0
Yr 11 proj avg monthly profit	£0	(0%)	+£0
Total Dividends	£12,488.07		+£0
Total Interest	£8.57		+£0
Total Profit from sales	£17,560.27		+£0
Average monthly cash profit	£245.28	(3.4%)	-£0.48
(Sold stocks profit + Dividends - Fees / Months)
Compound performance	34%		+0%

Cash only went down because I balanced what's actually in the account, so it's got £4 out over the months. Price drops wasn't as bad as the SIPP partly due to the big rise in CWR:Ceres Power and TLOU:Tlou Energy, and BOKU:Boku continued to edge upwards adding £19 to potential profits.

Pretty flat

Below the trend line

The SIPP looks like this after week 505 overall and week 37 of year 10.

			Weekly Change
Cash	£423.70		+£294.05
Portfolio cost	£134,724.72		+£0
Portfolio sell value (bid price - commission)	£72,565.64	(-46.1%)	-£1,911.66
Potential profits	£6,937.34		-£223.87
Yr 10 Dividends	£1,296.31		+£44.05
Yr 10 Interest	£3.96		+£0
Yr 10 Profit from sales	£3,681.12		+£0
Yr 10 proj avg monthly profit	£564.64	(7.6%)	-£10.38
Total Dividends	£17,412.96		+£44.05
Total Interest	£16.86		+£0
Total Profit from sales	£20,689.06		+£0
Average monthly cash profit	£313.87	(4.2%)	-£0.24
(Sold stocks profit + Dividends - Fees / Months)
Compound performance	41%		+0

I added my £250 monthly savings and got £4 dividend from ATYM:Atalya Mining and £39 from TRY:PR Property Investment. Massive drop in value as virtually everything fell, and PBX:Probiotix Health and JLP:Jubilee Metals made up a big chunk of the losses.

Potential profits also lost £223, with IHP:Integrafin contributing most of that, but several shares that were in profit dropped back to loss this week.

Proper dip

I knew we wouldn't stay above the trend line for long. Now right back on it.

I thought maybe things had turned around, but last week was horrible. Results were pretty poor for a few of my magic formula shares, and OPTI:Optibiotix stayed flat despite a positive trading update on Monday. I think most investors have got wise to the likelihood that nothing is going to happen for years yet, and are waiting for evidence that someone is using Sweetbiotix. The most exciting thing next week is getting my POLR:Polar Capital dividend, which should be around £225 so I might just buy something with it, as I should also get around £36 from N91:Ninety One and there's a bit of cash in the account too. I won't be adding any more cash after stumping up £500 for the AFC:AFC Energy retail offer.

Week 520 Review - Good week considering profit banked after both my Alpha stocks bought out.

A pretty good week, with a lot of buying and selling activity in the SIPP, some planned and some forced. The deficit between cost and value narrowed by just £318 to £135,523, but I banked more than £900 profit, so the real performance was much better. The deficit between injection and value reduced to £60,431 and total portfolio value increased to £115,281.

Worst performer was SAE:Simec Atlantis Energy which dropped 11% to go 79% down. No real reason except lack of news.

I think the same goes for IES:Invinity Energy, which fell 8% to go 86% down, so if it falls much more at least I won't have to report on it any more.

TLOU:Tlou Energy dropped 8%, but it is fluctuating wildly at the moment. It's only 19% down so I'm still feeling much more positive.

AFC:AFC Energy dropped 6% which brings it dangerously close to the retail offer price. If it drops below that, then my £500 will be wasted as I've committed to the purchase now.

YU.:Yu Group has had a pretty bad start as one of my brand new shares. I bought in anticipation of a rise on results, but it dropped 5% instead.

RIO:Rio Tinto climbed 5% and is only 10% down now, and seems to have positive momentum.

ALU:Alumasc Group has been slipping a little lately, but went up 6% this week to go 86% up altogether.

IGG:IG Group had good results and went up 6% to go 38% up since I bought them.

BOKU:Boku also had good results and climbed 7% to go 10% up, which is great as this is my only profitable ISA share.

CAML:Central Asia Metals finally gave up trying to buy an American company and the shares responded with an 8% rise, but all my holdings are still making a loss.

PAGE:Pagegroup went up 8% for no obvious reason.

Share of the Week, rather reluctantly, is TRX:Tissue Regenix which went up 29% for no obvious reason. I think the sell-off was over-done when they had their strategic review and tried to find a buyer for the company, but even with this rise my holding is 74% down, so this isn't a great performer.

Here's the ISA and shares portfolio after week 52 of year 10.

			Weekly Change
Cash	£573.11		+£0
Portfolio cost	£115,378.07		+£0
Portfolio sell value (bid price-commission)	£40,101.91	(-65.2%)	-£479.99
Potential profits	£98.90		+£74.25
Yr 10 Dividends	£180.12		+£0
Yr 10 Interest	£1.77		+£0
Yr 10 Profit from sales	£284.97		+£0
Yr 10 proj avg monthly profit	£30.70	(0.4%)	-£0.61
Total Dividends	£12,488.07		+£0
Total Interest	£8.57		+£0
Total Profit from sales	£17,560.27		+£0
Average monthly cash profit	£245.76	(3.4%)	-£0.47
(Sold stocks profit + Dividends - Fees / Months)
Compound performance	34%		+0%

The good news is that potential profits went up £74 thanks to the surge in BOKU:Boku. The bad news is I lost £479 in value with small drops in JLP:Jubilee Metals and bigger drops in TLOU:Tlou Energy and AFC:AFC Energy

We're at the end of Year 10, so how have things changed since the end of Year 9? Portfolio cost was £104,996 vs £115,378 so I've added around £11k. Portfolio value was £60,352 and it's now £40,101 so I've lost £31k of value and gone from 42.5% down to 65.2% down. My annual performance for Year 9 was £67 (1.1%) a month and in Year 10 it's £30 (0.4%), and my long term performance at the end of Year 9 was £274 (4.3%) a month and now it's £245 (3.4%). In summary, a rubbish year.

It's really pretty awful.

Perfectly following the trend line downwards.

The SIPP looks like this after week 504 overall and week 36 of year 10.

			Weekly Change
Cash	£129.65		-£52.33
Portfolio cost	£134,724.72		+£1,055.49
Portfolio sell value (bid price - commission)	£74,477.30	(-44.7%)	+£798.26
Potential profits	£7,161.21		-£20.61
Yr 10 Dividends	£1,252.26		+£23.70
Yr 10 Interest	£3.96		+£0
Yr 10 Profit from sales	£3,681.12		+£916.96
Yr 10 proj avg monthly profit	£575.02	(7.8%)	+£100.03
Total Dividends	£17,368.91		+£23.70
Total Interest	£16.86		+£0
Total Profit from sales	£20,689.06		+£916.96
Average monthly cash profit	£314.11	(4.2%)	+£7.48
(Sold stocks profit + Dividends - Fees / Months)
Compound performance	41%		+1

An awful lot happened this week.

I refreshed my magic formula ranking and two of my profitable companies dropped out of the top 50 so I decided to sell them.

The first was ATYM:Atalya Mining which dropped to 143rd. I sold my 252 shares at 462.992p making a pretty small £57.92 (5.2%) profit, but I am expecting a dividend any day and have already had £15, so the overall profit will be more like 9%. I wanted to stay in copper so bought another 802 shares in CAML:Central Asia Metals at 147.4p costing £1,194.10. Happy to say the announcement about dropping the American purchase happened shortly after and the price has gone up.

The next sale was TRY:TR Property Investment which dropped to 260th in the ranking. I sold my 383 shares for 326.02p and made £26.18 (2.1%) profit, but again I have £21 dividend and another due, so it will be more like 6% profit when that arrives. I bought a new company called YU.:Yu Group which popped up at number 5 in my rankings. I bought 84 shares at 1580p costing £1,332.20.

The next sale was expected, as ALPH:Alpha Group had been in negotiations about being bought out which were due to end this week. The news broke and the share price rocketed to just below what they will be bought for. I decided that losing £70 by not waiting until September was worth it, as I doubt there will be a bidding war and the price will stagnate at that level for 2 months. I sold my 72 shares for 4146.6p making a £971.91 (48.2%) profit, and I've only had a puny £5 dividend so that made no difference. 

I used part of the proceeds to by 785 shares in SBRE:Sabre Insurance Group who underwrite car insurance. They are ranked 12th in my magic formula spreadsheet and pay a 6.5% dividend. I paid 150.5p costing £1,199.29. I used the rest to buy another 1,129 shares in CAML:Central Asia Metals at 156.0192p costing £1,773.41. Unfortunately that was inflated as it was just after the announcement of the America deal ending and the shares fell to 153.2p by the end of the week. I now own 6,698 CAML shares in my SIPP costing £11,085, making them one of my biggest holdings. I won't buy any more now, and future copper purchases will be BHP:BHP Group and RIO:Rio Tinto as there are no others in my top 30 ranking.

The last sale was very frustrating as APAX:Apax Global Alpha announced they were getting bought out, but for quite a bit less than I paid for them. I sold my 570 shares at 163.01p making a loss of £139.04 (-13.1%). Fortunately I'd had £176 in dividends so overall I was up by 4%. I used the proceeds to buy another 193 shares in POLR:Polar Capital at 482.25p costing £935.74. These pay a massive dividend and are 7th in my magic formula spreadsheet. I now own 705 shares costing £3,438.71 and am about to get a dividend the week after next.

Given that I cashed over £900 profit, it was great to see portfolio value up by £798 and potential profits remaining pretty flat. I also had a £10 dividend from BPM:BP Marsh & Partners and £13 from III:3i Group, but no sign of my dividend from ATYM:Atalya Mining which was meant to arrive on Thursday.

Year 10 performance improves by £100 a month, but long term performance only improved by £7 a month, and at 4.2% is still way below my target of 10%.

I like the look of that green line!

Much joy that we're above the trend line, and have been relatively flat for the last 6 months despite the big declines in my 2 biggest holdings OPTI:Optibiotix and JLP:Jubilee Metals.

Although the long term performance isn't great, it's getting better.

A very busy week - so I suspect next week will be much more quiet. I should get the ATYM:Atalya Mining dividend, and one from TRY:TR property Investment, but no expectations for anything else. It would be nice to get copper production guidance from JLP:Jubilee Metals but I'm worried it won't be good and the price could drop even more. There's also the circular about the South Africa sale that we're expecting, which again isn't likely to be positive for the share price.

Week 519 Review - A rare positive week across most of the potfolio.

Not a bad week, but a few nightmare drops. Ended up positive, with the deficit between cost and value narrowing by £2,783 to £135,841 and deficit between injection and value reducing to £61,752. Total portfolio value increased to £113,960.

Worst performer was AFC:AFC Energy, which dropped 29% after announcing a discounted placing. Fortunately that placing was over subscribed, and there's a retail offer at 10p a share, which the buy price stayed above, so I've applied for £500 worth.

ATYM:Atalaya Mining have been doing well recently, but dropped 6% this week. They are still 2% up, but there is a risk of them dropping out of profit.

SAE:Simec Atlantis Energy dropped 5%, but there's nothing unusual about that.

The rest was all good news.

CAPD:Capital climbed 5% after great results. They have dropped to 66 on my magic formula rankings so I am looking to sell them. My SIPP holding is only 10% down, so I may be able to get rid of those fairly soon, but my dealing account holding is still 19% down.

IPX:Impax Asset Management have been sneaking up since to announcement of St James's Place dropping them as fund managers tanked the share price. The shares are still 54% down though. Part of me wants to buy more at this price, but part of me is nervous about other funds reducing eco-friendly investments.

OPTI:Optibiotix went up 5% which generated around £1,000 of this week's rise, but they are still at an astonishingly low price and causing most of my misery.

PAF:Pan African Resources also went up 5% which is a relief after buying a load more last week. The sell price is now well above the price I paid for them, and my holding is showing potential profit of £2,876 (74%). I will be hanging on to them though, as there's the prospect of a significant increase in production and they have a stonking dividend. It does mean that all my gold interest is in this one company, but there's no other I really feel comfortable with.

APAX:Apax Global Alpha went up an impressive 8%, although these have dropped to 64 in my magic formula ranking, so if they recover the 26% they are losing, then I'll sell them.

TRX:Tissue Regenix have been utterly rubbish, but went up 8% this week. They are still 80% down and I don't hold out much hope.

PBX:Probiotix Health went up and impressive 13%, but I suspect that's about it for the foreseeable future, as although the results were good, there's no prosect of anything new happening and we're still at least 12 months away from profitability.

Share of the Week is IHP:Integrafin, which zoomed up 17% after brilliant results and went 8% into profit. They are 3rd in my magic formula rankings, and I'm really glad I bought some more before the rise.

Here's the ISA and shares portfolio after week 51 of year 10.

			Weekly Change
Cash	£573.11		+£496.09
Portfolio cost	£115,378.07		+£0
Portfolio sell value (bid price-commission)	£40,581.90	(-64.8%)	+£1,027.81
Potential profits	£24.65		-£19.80
Yr 10 Dividends	£180.12		+£0
Yr 10 Interest	£1.77		+£0.32
Yr 10 Profit from sales	£284.97		+£0
Yr 10 proj avg monthly profit	£31.31	(0.4%)	-£0.96
Total Dividends	£12,488.07		+£0
Total Interest	£8.57		+£0.32
Total Profit from sales	£17,560.27		+£0
Average monthly cash profit	£246.23	(3.4%)	-£0.51
(Sold stocks profit + Dividends - Fees / Months)
Compound performance	34%		+0%

I added £500 to my ISA so I can partake in the retail offer for AFC:AFC Energy and get my average price down, as I'm excited about their prospects. The £1,027 rise in value is mainly thanks to OPTI:Optibiotix and PBX:Probiotix Health going up a bit. There's also a tiny amount of interest. The bad news is a drop in BOKU:Boku halving my potential profits, but just having potential profits in this account is a new experience.

Can't see much on this one

We're touching the trend line, but there's no danger of it changing direction any time soon.

One day it would be nice to sell something to help this chart out.

The SIPP looks like this after week 503 overall and week 35 of year 10.

			Weekly Change
Cash	£181.98		+£15.53
Portfolio cost	£133,669.23		+£0
Portfolio sell value (bid price - commission)	£72,623.55	(-45.7%)	+£1,755.73
Potential profits	£7,181.82		+£460.36
Yr 10 Dividends	£1,228.56		+£18.04
Yr 10 Interest	£3.96		+£0.84
Yr 10 Profit from sales	£2,764.16		+£0
Yr 10 proj avg monthly profit	£474.99	(6.4%)	-£11.99
Total Dividends	£17,345.21		+£18.04
Total Interest	£16.86		+£0.84
Total Profit from sales	£19,772.10		+£0
Average monthly cash profit	£306.63	(4.1%)	-£0.48
(Sold stocks profit + Dividends - Fees / Months)
Compound performance	40%		+0

A healthy increase in value, and a healthy increase in potential profits to over £7,000. It's a novel concept not selling my profitable shares and watchin that figure gradually go up. If only my bigger holdings would sort themselves out!

There was an £18 dividend from IPX:Impax Asset Management and a tiny amount of interest.

A better looking tick upwards.

We're above the trend line, but how long will it last?

Keeping steady, and with a combination of regular dividends and a strategy in place for selling non-magic formula shares, there's more prospect of this continuing to move upwards.

It's nice to get a rare positive week after months of mainly misery. It's a tad galling that every single junior share I pick has stalled horribly. My mistake has been to pile in lots of money to just a few of them, when so many fail that I probably need a wider range so the big rises in the successful ones will cancel out the disasters.

I also need to prepare myself for writing off some quite big holdings which will ruin my performance stats. KIBO:Kibo Mining is a total basket case and will certainly go bust, costing me £2,635. The other major risk is TRX:Tissue Regenix which is likely to get bought out on the cheap. At the current price that will cost me £2,749. Those are the two I'm most worried about. The others are tiny investments or showing potential for recovery.