IQE excitement

What a day!

In fact what a week - and we're only 2 days into it.

Everything was focused on IQE:IQE this morning. My £2,400 had been transferred into the SIPP on Monday and a limit order set up for 115p.

I awaited the results with trepidation - would my prediction come true and the share price plummet immediately after the RNS like it did back in March?

Yes!

Revenue was up but profits were slightly down - exactly the combination to cause an initial panic for people who don't read the outlook, which is a thing of great beauty and which triggered the immediate buy-back after the dip.

Unfortunately the price only plummeted 12% to 121p so my 115p limit order didn't get reached. When I saw the price heading up again I dashed to the PC but by the time I had logged in the price was up to 131.45p. I knew I should have gone for a 125p limit, but got greedy and paid the price. Still, 6p a share isn't a massive difference and I still got them a lot cheaper than if I had bought yesterday.

As predicted, the price soared from that point. I wonder if the shorters started closing their positions once it started heading up from 121p?

The SP ended up at 146.75p bid price, 15.3p up on my purchase price. That meant my 1,809 shares purchased for £2,389.88 made £252 (11%) paper profit on day 1 - yippee!

What's even more exciting is my original holding of 6,550 shares purchased at 29.59p ended the day £7,644 (391%) in profit.

It was great news all round, with OPTI:Optibiotix announcing an agreement with Tata Chemicals which saw a reversal of yesterdays decline, although the share price still doesn't want to rocket like I thought it would following news of this magnitude.

Then JLP:Jubilee Platinum revealed an improved contract with Dilokong Chrome Mines to increase their benefit from chrome sales from 0% to 50%. Amazingly this caused no change in the share price - I just don't know what it will take for this to get back into profit!

All this came on the back of yesterday, which delivered a strong set of interims for AMYT:Amryt Pharma triggering 2 days in the blue and taking them to £1,431 (23%) potential profit..

Most striking was the suspension of CAML:Central Asia Metals as they are in advanced negotiations for a reverse takeover bid. There are no details, but if they are buying out a larger company, then this deal could be transformational. I'm really glad I increased my holding just last week to 2,678 shares, although who knows how long they will be in limbo?

All this excitement leaves the combined portfolios up by £1,145 on the week after being down over £1,000 at the end of yesterday, and total value is now £78,496 putting them £8,218 in the black. It would only take a rise of 3.5p for OPTI:Optibiotix, and the portfolio value will get past £80,000 only 2 weeks after passing £75,000.

I don't think there have ever been 2 consecutive days with so much significant news and action for the biggest holdings in my portfolio. What else can this week throw at us?...