Monday 29 February 2016

Glencore tension mounts

The tension is almost too much to bear. A 3.9% rise in GLEN:Glencore today has taken my holding to within £19.24 of being in profit. I've got such a massively differing pair of purchases in 2 accounts. One is 24% down after paying 174p for 900 shares, while the other is 45% up after buying 1,000 for 91.8p. That leaves one losing £407.53 and one in profit by £388.28.

Results for the year are out tomorrow - will the price rises over the last few days have already factored in the expected results, or will there be a jump tomorrow - or a crash tomorrow? Should I sell my in-profit shares and bank the £388 or hang on until I at least break even, as the profit shares are climbing faster than the losses are coming off the loss-making shares? Should I hold them long term? Can the price be sustained? Have we gone past the bottom of the commodity rout?

I should just hide the keyboard for the day and wait to see what happens. It takes the Glencore roller coaster on a new section of track after six months of rampant misery. I'm seriously torn between getting out while the going is good and I've not lost any money, or continuing with the thrill of the ride.

Meanwhile the mystery rise in RCI:Rapidcloud continues, with a 20.9% increase today, meaning my losses are reduced to £190.50. There's still been no news to back up the price rise, so this is another to watch with interest tomorrow.

AFPO:African Potash also climbed mysteriously on no news today, gaining 12.3% on the share price, but unfortunately the spread is 9% and the bid price didn't change much so I didn't see such a big rise on my stats.

Disappointing news from UTV:UTV Media today. I've been waiting for a gigantic dividend after they sold Ulster TV to ITV, but we're getting quite a puny cash dividend, with the rest coming as a "B share scheme". I haven't really got a clue what that means, so will just watch and see what happens. Given the share price dropped by 4.3% suggests that the news wasn't overly popular. The new company name is WLG:Wireless Group from tomorrow.

Altogether rather an interesting week...

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