Wednesday 2 March 2016

Break out the beer - Glencore is making a profit!

It's happened at last. Despite yesterday's annual returns showing a thumping great loss, the GLEN:Glencore share price has bounced back 3.8% today, which is enough to take my combined holdings to £19.71 profit!

I never thought I would see the day. From the moment I bought them they have plummeted, until just a few weeks ago when the meteoric rise began. £1,100 loss to £19.71 profit in 3 weeks.

I'm a bit torn now. If I sell the lot I'll have £2,500 to invest in something less traumatic. However, there seems to be a positive sentiment towards Glencore that I've not seen before. There's a chance this ride has yet more excitement to offer. Every 1p increase in the share price is worth £20.

If the turnaround of Glencore wasn't enough to make my day, imagine my surprise to find another phenomenal turnaround share also going into profit. On 17th February I declared that Glencore was no longer my nemesis share, and I had three contenders for the title. AFG:Aquatic Food, FXI:Fusionex and RCI:Rapidcloud.

AFG:Aquatic Food won the title, and since then luke-warm annual returns have caused the share to fall even further, now down 69% and making a £863.90 loss. By far my nemesis share, so that's not the turn-around.

FXI:Fusionex continued to drop, until today when they issued a statement that they are partnering with American company Cloudera. This caused a 7.1% gain in the share price, but they are still 12% down and losing £186.40. This does remove them from contention as a nemesis share, but is still not the great turn-around.

That leaves RCI:Rapidcloud. Their share price climbed another 21.1% today. From 17th February when they were 65% down on my purchase price and losing £734, they are now up by 9% and making £13.50 profit (there's a massive spread on this one). There is still no news as to why the price has risen so much this week. I don't really care - it's had a superb effect on my portfolio performance, with the paper losses from January more than halved. This is despite some of my "safe" shares doing really badly.

LOOK:Lookers is down 8% and losing £227, MSLH:Marshalls is down 17% and losing £151, TW.:Taylor Wimpey is down 9% and losing £138, SGRO:Segro is down 9% and losing £115, and BDEV:Barratt Developments is down 12% and losing £108. None of these were risky shares - they are the mainstream yet doing really badly and not bouncing back.

Meanwhile, in the SIPP I was almost celebrating the whole portfolio going into profit. AA:Alcoa is going bonkers, and went in to profit today, up 8% since I purchased and making £36.80. Five out of nine of my SIPP shares are now in profit, but a drop in HGM:Highland Gold today was enough to prevent the portfolio going into profit. However, the loss is only £20.89 so if nothing horrible happens, there's a chance of good news soon.

So far this is the best week since I started investing, despite the FTSE 100 not doing a lot over the last few days. I've learned that things rarely keep going well for a whole week, so I will steel myself for something nasty happening tomorrow, but it would be so nice if there were just two more days of stability.

Now where's that beer...

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