Time to bail out of banks

I decided to bail out of the banking sector today. LLOY:Lloyds are due to give a trading update on Thursday so I figure there's a risk the share price will drop, and although by selling them this morning I only made a profit of £8 (1.1%) I wanted to get out of a risky sector. I don't see any great reason for optimism in banks, especially with PPI being around for another 2 years, and the final straw was reading an blog from Woodford Investment Trust about why they are avoiding the banking sector.

I wanted to consolidate my holdings in CAML:Central Asia Metals. I am so impressed with this company I want to increase my position, and the dividend ex-date is approaching, which is worth 8p a share (4.36%). Their total dividend for the year is 12.5p which is a fantastic 6.8% yield. Since listing in 2012 they have now returned more in dividends than their original listing revenue, and have heaps of cash left over. They can produce copper way cheaper than the selling price, and so are continuing to make big profits despite the crash in copper prices. They are also about to significantly step up the amount they produce.

I bought 436 more shares at 182.9074p costing £806.43. That takes my total holding to 1,787 shares costing a weighted average of 156.76p. They are £377 in profit and the dividend payout should be worth £142. The share price went up 3.4% after the purchase, as opposed to Lloyds which dropped 0.6%. I'm happy at the moment - but I may be howling on Thursday if Lloyds deliver a positive update and their shares soar!

I also decided to increase my holding in AMYT:Amryt Pharma. The main reason is the strength of their board of directors. They have plucked some of the leading lights from SHP:Shire, and already have a licensed product so should be bringing in revenue from the start. I purchased another 5,020 shares at 19.8p costing £1,002.91, taking my total holding to 10,606 shares costing £2,301.86. It's tricky to know what the average price was, as they were consolidated from FAST:Fastnet Equity and are split across 2 accounts, but it would have been about 21.6p so I am currently £257 down. However, I want to be in at the beginning for this one, as it could go far.

In order to raise the cash for this purchase, I reluctantly sold 1,000 of my 2,400 shares in TON:Titon Holdings making a profit of £178.95 (19.6%). Regrettable that these went on to climb 4.8% today, so my timing could have been a bit better. However I still have 1,400 left which are at £282 profit. Amryt didn't move today, so at least I didn't lose any more, but if I'd waited until tomorrow I could have made more in a day than I did holding Lloyds for the last few months. I still think it will be worth the hit now for the potential growth of Amryt.

Meanwhile it was a great day for GVC:GVC Holdings climbing 4.6% after their trading update. These are now in profit by a stunning £925 and by far my most profitable ever share. That's mainly because I spent £3,000 buying them in the first place, far more than any other share.

If the rest of the week goes as well as today, I'll be very happy - but that doesn't seem to happen very often...