Week 571 Review - ISA flat but gold miners hammered so the SIPP suffers.

Another red week, with the SIPP bearing most of the loss. The deficit between cost and value widened by £935 to £159,956 and the deficit between injection and value widened to £67,611. Total portfolio value fell to £120,327.

Worst performer was my biggest holding OPTI:Optibiotix which fell 13% and was responsible for much of this week's loss. There is still no sign of anything positive happening in the near term and probably the medium term too.

The gold mines were all hammered again, with GGP:Greatland Resources falling 9%, FRES:Fresnillo falling 8%,  EDV:Endeavour Mining falling 7% and PAF:Pan African Resources falling 6%. That did most of the damage to my SIPP.

HPOW:H-Power dropped another 8% as the recent spike was reversed, and W7L:Warpaint London also dropped 8% for no obvious reason.

DXRX:Diaceutics fell 6%, again for no clear reason.

SBTX:SkinBioTherapeutics dropped 5% and will continue to drop until something positive happens with Croda.

It wasn't all bad news though.

FDM:FDM Group  and FSG:Foresight Group Holdings went up 5%.

CKN:Clarkson, FOUR:4imprint and KNOS:Kainos Group went up 6%.

TAM:Tatton Asset Management went up 9% for no clear reason.

JLP:Jubilee Metals finally had a turnaround and went up 10%. Is this the long awaited reversal in fortunes or a blip?

Share of the Week for the 2nd week in a row is PAGE:Pagegroup, this time climbing 27% compared to just 13% last week. Shame I've already spent my transfer cash, as my holding is still 68% down and I could have bought some more and reduced my average and taken advantage of this momentum .

Here's the ISA and shares portfolio after week 51 of year 11.

			Weekly Change
Cash	£98.44		-£3.86
Portfolio cost	£116,490.29		+£0
Portfolio sell value (bid price-commission)	£30,783.68	(-73.6%)	-£49.69
Potential profits	£275.56		+£16.86
Yr 11 Dividends	£86.83		+£0
Yr 11 Interest	£1.82		+£0
Yr 11 Profit from sales	£873.14		+£0
Yr 11 proj avg monthly profit	£73.77	(1.0%)	-£1.81
Total Dividends	£12,574.90		+£0
Total Interest	£10.39		+£0
Total Profit from sales	£18,433.41		+£0
Average monthly cash profit	£230.39	(3.2%)	-£0.44
(Sold stocks profit + Dividends - Fees / Months)

Pretty much flat, with a big drop in OPTI:Optibiotix cancelled out by a big rise in JLP:Jubilee Metals. Potential profits went up after small rises in TRU:Trufin and IES:Invinity Energy.

Still sinking slowly.

Still below the trend line

Still nothing.

The SIPP looks like this after week 555 overall and week 35 of year 11.

			Weekly Change
Cash	£310.25		+£17.78
Portfolio cost	£163,385.47		+£0
Portfolio sell value (bid price - commission)	£89,135.45	(-45.4%)	-£885.59
Potential profits	£8,707.27		-£405.50
Yr 11 Dividends	£1.583.29		+£21.94
Yr 11 Interest	£15.48		+£0
Yr 11 Profit from sales	£9,419.73		+£0
Yr 11 proj avg monthly profit	£1,345.84	(15.9%)	-£37.32
Total Dividends	£19,803.49		+£21.94
Total Interest	£36.18		+£0
Total Profit from sales	£34,086.24		+£0
Average monthly cash profit	£407.23	(4.8%)	-£0.59

Gold mines really dragged down both the sell value and potential profits. I did get a £21 dividend from IPX:Impax Asset management, but not much else happened.

Sinking further away from that elusive injection line.

Well below the trend line.

Just 4 weeks to go before I review my magic formula ranking and hopefully bank some more profits.

Gold finished the week just over $4,000 which is hardly down from the week before, and yet my gold miners were down 7-9%. I fear we're not going to get a turnaround for some time yet, but I'm confident it will come, so I'm happy to hold my gold stocks but not happy a lot of them are down by 30%.

Week 570 Review - Yet another dreadful week continues the relentless slide.

Another rubbish week, but it ended up less rubbish than it was on Wednesday. The deficit between cost and value widened by £3,580 to £159,021 but on Wednesday I was down by over £6,000. The deficit between injection and value has increased to £66,689 and portfolio value has dropped to £121,249 despite an injection of £2,300 this week.

Biggest loser was IES:Invinity Energy which dropped 15% for no reason other than the recent rise had been way over-done, and with hindsight I should have realised that and sold my profitable shares to buy back later. You can guarantee if I'd done that they would have continued to go up.

EDV:Endeavour Mining and FRES:Fresnillo both fell 9% despite the price of gold just dropping a few percent. 

POLR:Polar Capital also dropped 9%, but about 6% of that was due to going ex-dividend and there may be some concern over their exposure to AI in the Tech Fund.

PAF:Pan African Resources fell 8% and GGP:Greatland Resources 7% as all my gold mines had a dreadful week. THX:Thor Explorations only dropped 3% though, and CORE:Solidcore Resources actually went up 3%.

HPOW:H-Power dropped 7% as part of a continued decline on no news.

PBX:Probiotix Health and W7L:Warpaint London also dropped 7%.

BTG:BTG Consulting and MGNS:Morgan Sindall Group both dropped 6% and MGNS is now back to being at a loss.

GAW:Games Workshop and RIO:Rio Tinto both fell 5%.

There were precious few big risers.

IPX:Impax Asset Management zoomed up 12% after a good trading statement, but my main holding is still 72% down.

Share of the Week is PAGE:Pagegroup which went up 13%. I can only assume it's in anticipation of Monday's trading update, which means it's highly likely to lose the gains entirely and maybe more again if the trading is as bad as it has been in the last few updates.

Here's the ISA and shares portfolio after week 50 of year 11.

			Weekly Change
Cash	£102.30		-£3.59
Portfolio cost	£116,490.29		+£0
Portfolio sell value (bid price-commission)	£30,833.37	(-73.5%)	-£659.54
Potential profits	£258.70		-£47.40
Yr 11 Dividends	£86.83		+£0
Yr 11 Interest	£1.82		+£0.21
Yr 11 Profit from sales	£873.14		+£0
Yr 11 proj avg monthly profit	£75.58	(1.0%)	-£1.86
Total Dividends	£12,574.90		+£0
Total Interest	£10.39		+£0.21
Total Profit from sales	£18,433.41		+£0
Average monthly cash profit	£230.83	(3.2%)	-£0.43
(Sold stocks profit + Dividends - Fees / Months)

Nearly everything fell this week, so value down £649 and potential profit only down £47 as the huge drop in IES:Invinity Systems was offset by a 1% rise in Yu.:Yu Group where I own 3 times the value of shares. Sell value is getting perilously close to 75% down, after which I'll have to change from crimson to red

Apart from the brief blip 6 months ago, this is in very steady and relentless decline.

No longer following the trend line, but dipping below it.

The SIPP looks like this after week 554 overall and week 34 of year 11.

			Weekly Change
Cash	£292.47		-£904.87
Portfolio cost	£163,385.47		+£3,195.35
Portfolio sell value (bid price - commission)	£90,021.04	(-44.9%)	-£2,920.56
Potential profits	£9,112.77		-£1,683.77
Yr 11 Dividends	£1.561.35		+£0
Yr 11 Interest	£15.48		+£2.98
Yr 11 Profit from sales	£9,419.73		+£0
Yr 11 proj avg monthly profit	£1,383.16	(16.4%)	-£43.16
Total Dividends	£19,781.55		+£0
Total Interest	£36.18		+£2.98
Total Profit from sales	£34,086.24		+£0
Average monthly cash profit	£407.82	(4.8%)	-£0.82

A slightly complicated week as I had my pension transfer come through and also my monthly investment, but my gold mines were hammered and so were many of my magic formula shares, so a big drop in both value and potential profit.

I bought gold miners with my pension transfer, but a few days too soon, as they dropped by the end of the week. My first purchase was GGP:Greatland Resources where I bought 187 shares at 586.39p costing £1,103.50. They were 566p by the end of the week.

My second purchase was 1,814 shares in AMRQ:Amaroq for 87.73p costing £1,598.37. This is in anticipation of their move to the main market at the end of July when I hope they will re-rate as institutions buy in, although knowing my luck Trump will invade Greenland instead.

For my regular savings I'm continuing to buy BPM:BP Marsh & Partners this month and next month. I bought 36 shares at 679.2p costing £244.51. I also decided to buy more YU.:Yu Group as they have dropped off recently and I can buy for a similar price to my earlier holding. I bought 15 shares at 1659.8p costing £248.97. They dropped to 1620p by the end of the week.

I used up all the spare dividend cash I'd been building in my account, so the only cash left is another £250 to enable 2 monthly investments when I add my £250 next month, after which I'll be back to 1 investment per month until I can sell something, but that may be in August when I review my magic formula ranking.

Injection line ticks up, but value line doesn't.

That's very grim. Plunging well below the trend line when it looked like things had turned around a few months ago. It's mainly down to a combination of JLP:Jubilee Metals and OPTI:Optibiotix continuing to slide, along with my gold mine shares dropping massively despite the price of gold still being comfortably above $4,000.

Four more weeks and I hope to be back above the trend line, if any of my profitable magic formula shares drop out of the top 50.

Just 2 more weeks before the end of Year 11 for the ISA, and the anniversary of when I started all this. My intention was to make loads of money so I could retire early, but after 11 years my portfolio is worth £66,689 less than what I put in, and that's without factoring in the compound interest I would have got from leaving it in the building society. I hit retirement age in 9 years time, so I'm over halfway through my window of opportunity and have very little to show for it. At least I do have a new strategy now, but limited available cash to put it into practice unless some of my early mistakes recover enough for me to sell them.

Week 569 Review - A positive week as gold heads slightly up.

It was an OK week for the SIPP but a down week for the ISA, so the result was a narrowing of the deficit between cost and value of £664, which is way less than recent losses so not much of a recovery, but at least it's positive. The deficit is now £155,441 and the deficit between injection and value is £63,096. Total portfolio value rose to £122,542.

Worst performer was SBTX:SkinBioTherapeutics, which dropped 17% and wasn't a great surprise given the recent very strong run.

GGP:Greatland Resources dropped 6%, which was a surprise given the price of gold went up.

The rest was all good news.

AMRQ:Amaroq recovered 5% of recent losses, as did FDM:FDM Group and IPX:Impax Asset Management

HPOW:H-Power and PAGE:Pagegroup both reversed last week's losses and gained 6%.

FNX:Fonix, MSI:MS International and SBRE:Sabre Insurance all went up 7%.

IHP:Integrafin climbed a healthy 10%.

ASHM:Ashmore Group and FSG:Foresight Group Holdings both went up 11%.

Share of the week is POLR:Polar Capital, which went up a whopping 19% to go 95% in profit.

Here's the ISA and shares portfolio after week 49 of year 11.

			Weekly Change
Cash	£105.89		+£0
Portfolio cost	£116,490.29		+£0
Portfolio sell value (bid price-commission)	£31,492.91	(-73.0%)	-£503.85
Potential profits	£306.10		-£24.00
Yr 11 Dividends	£86.83		+£0
Yr 11 Interest	£1.61		+£0
Yr 11 Profit from sales	£873.14		+£0
Yr 11 proj avg monthly profit	£77.44	(1.1%)	-£1.61
Total Dividends	£12,574.90		+£0
Total Interest	£10.18		+£0
Total Profit from sales	£18,433.41		+£0
Average monthly cash profit	£231.26	(3.2%)	-£0.41
(Sold stocks profit + Dividends - Fees / Months)

Not much happened, with just a £500 drop most of which was deepening losses.

Slow decline

I love following that trend line, if only it would point up.

The SIPP looks like this after week 553 overall and week 33 of year 11.

			Weekly Change
Cash	£1,197.34		+£340.87
Portfolio cost	£160,190.12		-£23.68
Portfolio sell value (bid price - commission)	£89,746.25	(-44.0%)	+£1,144.99
Potential profits	£10,796.54		+£836.72
Yr 11 Dividends	£1.561.35		+£45.18
Yr 11 Interest	£12.50		+£0
Yr 11 Profit from sales	£9,419.73		+£22.01
Yr 11 proj avg monthly profit	£1,426.32	(17.3%)	-£35.48
Total Dividends	£19,781.55		+£45.18
Total Interest	£33.20		+£0
Total Profit from sales	£34,086.24		+£22.01
Average monthly cash profit	£408.64	(4.9%)	-£0.21

I added my monthly £250 savings to cash, and decided to flog my PRU:Prudential shares as they are under the kosh a bit since new Chinese regulations. I sold my 110 shares at 1002.69p making £22.01 (2%) profit.

I used the proceeds to increase my holdings in GGP:Greatland Resources, buying another 171 shares at 612.44p costing £1052.27.

I got a healthy £45 dividend from W7L:Warpaint London

Potential profits increased by almost as much as value, mainly thanks to gold miners.

A wee tick up

Still below the trend line

My tiny profit didn't make much difference here.

I get £2,300 pension transfer next week, so pondering what to do with it. I think AMRQ:Amaroq seeing as they will be moving to the main market at the end of the month, which often gives a lift, and I'm undecided between more GGP:Greatland Resources, more BTG:BTG Consulting, or a new share BYIT:Bytes Technology.

Week 568 Review - Another bad week as gold slips

Another bad week. It got worse every day and ended up widening the deficit between cost and value by £1,118 to £156,106 and the deficit between injection and value grew to £63,828. Total portfolio value dropped to £121,560.

Biggest loser was IES:Invinity Energy which dropped 22% after a recent spike upwards. There was no news so presumably just profit taking.

GGP:Greatland Resources was the worst of the gold miners, dropping 10% as the price of gold continued to slip.

HPOW:H-Power drifted down another 10% on no news.

CORE:Solidcore Resources fell 8%.

AMP:Ampeak Energy dropped 7% as all the shares related to renewable energy had a bad week.

MSI:MS International  and PAGE:Pagegroup both dropped 6% for no particular reason

AMRQ:Amaroq, ATYM:Atalya Mining, THX:Thor Explorations and W7L:Warpaint London all dropped 5%.

MGNS:Morgan Sindall Group climbed 5% and went 3% into profit.

SBRE:Sabre Insurance climbed 6% and is now 11% up.

GAW:Games Workshop went up 8% to go 79% up.

TAM:Tatton Asset Management also climbed 8% and is now 28% up.

OPTI:Optibiotix went up 9% for no obvious reason but is still at a massive loss.

SBTX:SkinBioTherapeutics also went up 9% and is now worth twice as much as OPTI.

Share of the Week is III:3i Group which recovered 15% of recent losses after a positive update from Action, but my holding is still 17% down.

Here's the ISA and shares portfolio after week 48 of year 11.

			Weekly Change
Cash	£105.89		+£0.08
Portfolio cost	£116,490.29		+£0
Portfolio sell value (bid price-commission)	£31,996.76	(-72.5%)	-£113.09
Potential profits	£330.10		-£114.24
Yr 11 Dividends	£86.83		+£0
Yr 11 Interest	£1.61		+£0.04
Yr 11 Profit from sales	£873.14		+£0
Yr 11 proj avg monthly profit	£79.05	(1.1%)	-£1.68
Total Dividends	£12,574.90		+£0
Total Interest	£10.18		+£0.04
Total Profit from sales	£18,433.41		+£0
Average monthly cash profit	£231.67	(3.2%)	-£0.44
(Sold stocks profit + Dividends - Fees / Months)

Nearly all losses were in potential profits thanks to the drop in IES:Invinity Energy.

Still flat

Still hugging the trend line

Still rubbish.

The SIPP looks like this after week 552 overall and week 32 of year 11.

			Weekly Change
Cash	£856.47		+£2.18
Portfolio cost	£160,213.80		+£0
Portfolio sell value (bid price - commission)	£88,601.26	(-44.7%)	-£1,005.29
Potential profits	£9,959.82		-£770.89
Yr 11 Dividends	£1.516.17		+£39.10
Yr 11 Interest	£12.50		+£0.24
Yr 11 Profit from sales	£9,397.72		+£0
Yr 11 proj avg monthly profit	£1,461.80	(17.7%)	-£41.65
Total Dividends	£19,736.37		+£39.10
Total Interest	£33.20		+£0.24
Total Profit from sales	£34,064.23		+£0
Average monthly cash profit	£408.85	(5.0%)	-£0.43

A big £1,005 drop in value, £770 if which was lost potential profit as gold and many magic formula shares were hit. I got £13 dividend from FDM:FDM Group and £25 from IHP:Integrafin. Not much else happened.

Sliding

Still below the trend line

Well below the trend line now.

Nothing more to say as I was a week late writing this.

Week 567 Review - Just in the black, but most gains lost at the end of the week.

It was a positive week, but didn't feel it after being up by over £4,000 mid-week and seeing most of that vanish as the week ended, with the deficit between cost and value just £591 less and the deficit reduced to £154,987. The deficit between injection and value reduced to £62,712 and total portfolio value increased to £122,676.

Worst performer was RAT:Rathbones, dropping 18% after announcing a series of measures following an FCA assessment of their operation. It will hit profits, but not by 18% so I'm hoping they will recover.

CKN:Clarkson  dropped 9%, presumably because things are easing up in the Middle East and much of the recent rise has been off the back of the complexities with shipping out there.

PAGE:Pagegroup continue their decline, with a 9% drop for no obvious reason. My holding is now 78% down, making this one of my worst performing magic formula shares.

BTG:BTG Consulting fell 7%, possibly due to people thinking the ceasefire in the Middle East will improve the economy to the detriment of BTG. I don't think that's the case, so may use this as an opportunity to buy more when my next pension transfer comes through.

OPTI:Optibiotix fell another 5% and there's no sign of anything changing.

RIO:Rio Tinto was the worst of the miners, dropping 5% when the rest were either flat or reasonably up.

EDV:Endeavour Mining went up 5%, and ATYM:Atalya Mining 6% but mid-week they were up by twice that.

AMP:Ampeak Energy climbed 8% for no obvious reason, but my holding is still 64% down.

GGP:Greatland Resources was the best of the miners, climbing 10% to go 94% up.

IES:Invinity Energy zoomed up 22% after another contract was announced.

SBTX:SkinBioTherapeutics dropped badly after being removed from suspension last week, but this week climbed 38% presumably on hopes that one day Croda might sell something.

I'm awarding Share of the Week to TAM:Tatton Asset Management. They climbed 18% which is amazing for a magic formula share. This was on the back of final results significantly exceeding expectations. I'm hopeful this has much further to run.

Here's the ISA and shares portfolio after week 47 of year 11.

			Weekly Change
Cash	£105.81		-£3.92
Portfolio cost	£116,490.29		+£0
Portfolio sell value (bid price-commission)	£32,109.85	(-72.4%)	+£578.37
Potential profits	£444.34		+£92.82
Yr 11 Dividends	£86.83		+£0
Yr 11 Interest	£1.57		+£0
Yr 11 Profit from sales	£873.14		+£0
Yr 11 proj avg monthly profit	£80.73	(1.1%)	-£2.13
Total Dividends	£12,574.90		+£0
Total Interest	£10.14		+£0
Total Profit from sales	£18,433.41		+£0
Average monthly cash profit	£232.08	(3.2%)	-£0.44
(Sold stocks profit + Dividends - Fees / Months)

Monthly fees slightly reduced cash, portfolio value up by £578 thanks to the big increases in IES:Invinity Energy and SBTX:SkinBioTherapeutics, and the £92 gain in potential profits was mainly down to IES.

Still pretty flat.

Back up almost on the trend line

The SIPP looks like this after week 551 overall and week 31 of year 11.

			Weekly Change
Cash	£854.29		+£40.14
Portfolio cost	£160,213.80		+£0
Portfolio sell value (bid price - commission)	£89,606.55	(-44.1%)	+£7.68
Potential profits	£10,730.71		+£278.66
Yr 11 Dividends	£1.477.07		+£44.41
Yr 11 Interest	£12.26		+£0
Yr 11 Profit from sales	£9,397.72		+£0
Yr 11 proj avg monthly profit	£1,503.45	(18.2%)	-£44.32
Total Dividends	£19,697.27		+£44.41
Total Interest	£32.96		+£0
Total Profit from sales	£34,064.23		+£0
Average monthly cash profit	£409.28	(5.0%)	-£0.43

Cash was up thanks to a £6 dividend from PAGE:Pagegroup and £37 from YU.:Yu Group, minus monthly fees. Portfolio value was just about as flat as it could be, but potential profits increased £278 mostly thanks to TAM:Tatton Asset Management.

I had a feeling I was never going to close the gap to the injection line, and that does seem to be the case.

Still well below the trend line.

Leaving the trend line behind here too.

I'm not terribly optimistic about things getting better in the Middle East, given Israel are acting as if there's no ceasefire. Markets will continue to fluctuate wildly so I may as well just accept the fact there's not likely to be any recovery in my portfolio value for the rest of the summer at least.

Week 566 Review - Bad week for the ISA and flat for the SIPP

This week could have been a lot worse. I was down by £4.5k by Thursday evening, but a big rally on Friday reduced my deficit to £1,511. It means the deficit between cost and value widens to £155,573 and the deficit between injection and value increases to £63,334. Total portfolio value drops to £122,054.

Worst performer was IES:Invinity Energy, dropping 21% as people took profits following the recent surge. I guess it was bound to happen.

SBTX:SkinBioTherapeutics shares began trading again after they completed the fraud investigation. They ended up 16% down, but at one point in the week were 37% down, so this isn't bad.

HPOW:H-Power suffered a similar fate to IES, dropping 12% after recent strong gains.

THX:Thor Explorations was the worst hit of my gold miners, dropping 6%. Most of them were down this week, but not by that much.

Share of the Week is shared between GAW:Games Workshop and SBRE:Sabre Insurance, as both climbed 5% and were my only big risers this week.

Here's the ISA and shares portfolio after week 46 of year 11.

			Weekly Change
Cash	£109.73		+£0
Portfolio cost	£116,490.29		+£0
Portfolio sell value (bid price-commission)	£31,531.48	(-72.9%)	-£1,259.89
Potential profits	£351.52		-£104.52
Yr 11 Dividends	£86.83		+£0
Yr 11 Interest	£1.57		+£0
Yr 11 Profit from sales	£873.14		+£0
Yr 11 proj avg monthly profit	£82.86	(1.1%)	-£1.84
Total Dividends	£12,574.90		+£0
Total Interest	£10.14		+£0
Total Profit from sales	£18,433.41		+£0
Average monthly cash profit	£232.52	(3.2%)	-£0.41
(Sold stocks profit + Dividends - Fees / Months)

Most of my losses were in my ISA this week, with big drops for HPOW:H-Power, IES:Invinity Energy and SBTX:SkinBioTherapeutics, with the drop in IES reducing potential profits by £104.

The rise is looking more like a blip along a steady decline.

Back below the trend line

The SIPP looks like this after week 550 overall and week 30 of year 11.

			Weekly Change
Cash	£814.15		-£467.92
Portfolio cost	£160,213.80		+£493.00
Portfolio sell value (bid price - commission)	£89,598.87	(-44.1%)	-£251.52
Potential profits	£10,452.05		+£234.41
Yr 11 Dividends	£1.432.66		+£25.08
Yr 11 Interest	£12.26		+£0
Yr 11 Profit from sales	£9,397.72		+£0
Yr 11 proj avg monthly profit	£1,547.77	(18.8%)	-£49.62
Total Dividends	£19,652.86		+£25.08
Total Interest	£32.96		+£0
Total Profit from sales	£34,064.23		+£0
Average monthly cash profit	£409.71	(5.0%)	-£0.55

It was monthly investment time. I bought 106 shares in ESTC:European Smaller Companies Trust at 232.9611p costing £248.17 and 35 shares in BPM:BP Marsh & Partners at 699.5p costing £244.83. I've bought as many ESTC as I want now, but will continue with BPM for a few more months.

Portfolio value only dropped £251 and potential profits actually went up £234 and I got a £25 dividend from GCP:GCP Infrastructure Investments.

Still tantalisingly close to the injection line

Still below the trend line.

Hoping I can stay above £400 until August when I clear out some of my magic formula shares, hopefully for lots of profit.

There was an encouraging presentation from JLP:Jubilee Metals about their Molefe mine this week. It got me all excited in JLP again, but I'm not making the mistake of buying more shares. Every time I do that, the share price drops even further. I am optimistic it will turn around some time this summer when they can show production is increasing. That will be a game changer for my performance in both accounts. It's just taking a very, very long time. I need to keep reminding myself that I've been in this position with JLP before, but have made £1,700 profit in my SIPP and a massive £13,183 in my ISA, so this has been one of my best ever shares. There is hope!

Week 565 Review - SIPP hammered, ISA flat.

A dreadful week for the SIPP, with huge drops especially in miners. The ISA actually ended up in the black. The overall effect was a widening of the deficit between cost and value by £3,745 to £154,062 and a widening of the deficit between injection and value to £61,848. Total portfolio value fell to £123,540.

Worst performer by a long way was PAF:Pan African Resources, dropping 23% after an operational update that wasn't really bad. I guess given all gold miners were hammered this week, it's not a surprise. I took advantage of the drop to buy some more.

EDV:Endeavour Mining dropped 13% and is now only 4% in profit, which is amazing given the price of gold.

PRU:Prudential fell 12% and are now at a loss by 3%. It sounds like investors were spooked by performance in China.

THX:Thor Explorations also dropped 12% following the trend amongst miners.

ATYM:Atalya Mining fell 10% and my ISA holding is no longer in profit.

FRES:Fresnillo and GGP:Greatland Resources both fell 9% which was pretty good compared to the rest.

FDM:FDM Group fell 7% after a recent rally and are now 68% down.

AMRQ:Amaroq, FNX:Fonix and HPOW:H-Power all fell 6%.

GAW:Games Workshop, INVP:Investec and JHD:James Halstead all fell 5%, which is especially surprising for INVP, having just been announced as a FTSE 100 entry.

There was some good news

BTG:BTG Consulting went up 7%, and 5% into profit after announcing an acquisition.

AMP:Ampeak Energy went up 13% for no obvious reason, but are still 67% down.

IES:Invinity Energy are still on a roll and went up another 13% this week. It's now even looking possible I may not make a loss on them, which I never would have thought a few years ago. My recent holding is up by 76% and I deeply regret just matching the value of my old holding, as I could have broken even by now if I'd got more at the cheap price. As it is, I need it to double again from here to break even.

Share of the Week is PBX:Probiotix Health, which seems to have had a delayed reaction to recent contract news and went up 15% this week after a 10% drop last week. Whether it will continue to climb is another question though.

Here's the ISA and shares portfolio after week 45 of year 11.

			Weekly Change
Cash	£109.73		-£3.81
Portfolio cost	£116,490.29		+£0
Portfolio sell value (bid price-commission)	£32,791.37	(-71.9%)	+£285.73
Potential profits	£456.04		-£43.92
Yr 11 Dividends	£86.83		+£0
Yr 11 Interest	£1.57		+£0
Yr 11 Profit from sales	£873.14		+£0
Yr 11 proj avg monthly profit	£84.70	(1.2%)	-£2.30
Total Dividends	£12,574.90		+£0
Total Interest	£10.14		+£0
Total Profit from sales	£18,433.41		+£0
Average monthly cash profit	£232.93	(3.2%)	-£0.44
(Sold stocks profit + Dividends - Fees / Months)

The portfolio value actually increased by £285 thanks to IES:Invinity Energy and PBX:Probiotix Health, although the big drops in HPOW:H-Power and AMRQ:Amaroq meant potential profits dropped by £43.

Still pretty flat.

Hugging the trend line

The SIPP looks like this after week 549 overall and week 29 of year 11.

			Weekly Change
Cash	£1,292.07		+£435.99
Portfolio cost	£159,720.80		+£180.21
Portfolio sell value (bid price - commission)	£89,357.39	(-44.1%)	-£4,031.66
Potential profits	£10,217.64		-£3,297.16
Yr 11 Dividends	£1.407.58		+£197.78
Yr 11 Interest	£12.26		+£0
Yr 11 Profit from sales	£9,397.72		+£180.92
Yr 11 proj avg monthly profit	£1,597.39	(19.4%)	-£0.38
Total Dividends	£19,627.78		+£197.78
Total Interest	£32.96		+£0
Total Profit from sales	£34,064.23		+£180.92
Average monthly cash profit	£410.26	(5.0%)	+£2.15

I added £250 injection for monthly savings and got £71 dividend from FOUR:4imprint, £23 from both JHD:James Halstead and KAIN:Kainos Group, and £79 from SBRE:Sabre Insurance, so cash is up. Big drop in portfolio value though, most of which was potential profits.

I sold my 81 shares in SCT:Softcat for 1824.7013p and made £180.92 (13.9%) profit. Given I've now accepted I have a curse, they rocketed the day after to 1864p which would have given me another £30. I bought 1,272 shares in PAF:Pan African Resources with the proceeds at 114.78p costing £1,472.30. They promptly dropped 7% to 106p.

The combination of small profit and dividends was enough to keep year 11 performance pretty flat, and improved long term performance by £2 a month. I hope to get to the stage where I can maintain 5% on dividends alone and the rest will be bonus selling for profit. That won't happen until I can offload the non-dividend shares.

I'll never get to cross that bloody injection line!

Very grim

The up-tick isn't enough to take us back above the trend line.

A depressing week, but I think we're stuck in a period of intense volatility for a while longer yet.