My investment diary after starting out on the stock market in August 2015. The highs and lows, crashes and recoveries, profits and losses, takeovers and mergers that make investing so exhilarating.
Tuesday, 24 November 2015
Bad news after bad news
It's only Tuesday and this has been a horrible week.
Was I really saying only 2 days ago how nice it would be if my losses could get under £2,000 before Christmas?
After the last 2 days my losses are only £4 away from £3,000!
Yesterday it was PTEC:Playtec announcing their 2 takeovers had fallen through, resulting in a massive crash of £1 a share.
Today it was PUR:Pure Wafer announcing they were planning to de-list. I was hanging onto them to reap the big dividend from the sale of their destroyed UK factory, and now I'm not sure. The chatter seems to be that we will get back more than the current price. 195p would give me £50 profit but anything less than 179p will give me a loss.
That was a shock, but didn't actually do today's damage. That was due to >4% declines in 6 of my stocks. It's not often Glencore is a ray of sunshine, but a 3.9% rise was nice, and a 12% rise in W Resources was also nice. However, given that these 2 shares have declined by 85% and 32% since I bought them, despite today's rise, they're not really helping me much.
Things are set to get worse tomorrow with a chancellor statement that could cause ructions in the house builder sector. Surely this government are trying to encourage house building? I'll be holding my breath to see if a third disastrous day dawns and my 3 house builders sink even further...
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