IQE:IQE got hammered and dropped 17% after pretty dismal results. I was surprised at the ferocity of the drop in prices, as I thought those results were expected after the trading updates. It was even worse in my trading account where it fell 22% of my purchase price.
OPTI:Optibiotix had another bad week despite great news on new distribution deals. When I see sells right at the start of the day it makes me very suspicious this is being manipulated downwards. It's so easy for a few traders to control the share price they must be making a mint from the fluctuations. It dropped 4p which is 6% and cost me £3,200 of this week's losses.
MMX:Minds + Machines is drifting, down another 6% this week and now 29% down overall. I'm still convinced this is a highly cash generative company - they just haven't demonstrated a willingness to return any of it to shareholders yet. If it's used for funding profitable acquisitions then I'm all for it. This was bought as a potential quick win though. Now it's yet another very long term hope.
TEK:Tekcapital fell another 5% and will continue to do so until they can show a profit.
TND:Tandem Group had a great surge after results, but are slipping again and fell 5% this week.
There were very few climbers. MTFB:Motif Bio announced they have set a date to meet the FDA and hopefully get an answer for how to get approval for Iclaprim. This spiked the share price early in the week, but it's drifted back and so the rise is only 6% of what I paid for them
VRS:Versarien started sneaking back up and this week's great 11% gain has seen them go into profit, albeit only £8.
Share of the Week goes to TAP:Taptica which climbed 12% and may yet make up the 35% loss I'm currently suffering.
Desperate
More desperate
The ISA and share portfolios look like this
| Weekly Change | |||
| Cash | £24.28 | +£0 | |
| Portfolio cost | £57,246.22 | +£0 | |
| Portfolio sell value (bid price - commission) | £51,554.60 | (-9.9%) | -£1,982.12 |
| Potential profits | £6,307.33 | -£2,037.47 | |
| Yr 4 Dividends | £60.50 | +£0 | |
| Yr 4 Profit from sales | £1,077.60 | +£0 | |
| Yr 4 Average monthly cash profit | £146.00 | (3.1%) | -£4.56 |
| Total Dividends | £1,298.83 | +£0 | |
| Total Profit from sales | £19,774.72 | +£0 | |
| Average monthly cash profit | £479.21 | (10%) | -£2.54 |
| (Sold stocks profit + Dividends - Fees / Months) |
Overall portfolio dropped slightly less than the profits I lost with the OPTI:Optibiotix drop so I guess that's some comfort. Average monthly performance has dropped to the target 10% and will dip under it next week, putting pressure on me to sell something. Unfortunately the only share in profit is OPTI:Optibiotix and I ain't selling any of those, so things are looking pretty bad at the moment.
The last 2 months have seen an almost continuous decline, which is even more worrying as OPTI:Optibiotix are doing ok. The last time things were this bad OPTI:Optibiotix was in the red.
In a few months time the trend line will be pointing well and truly downwards.
Here's the SIPP after week 173
| Weekly Change | |||
| Cash | £93.07 | +£0 | |
| Portfolio cost | £38,324.77 | +£0 | |
| Portfolio sell value (bid price - commission) | £39,215.16 | (2.3%) | -£1,637.49 |
| Potential profits | £5,218.25 | -£1,324.43 | |
| Yr 4 Dividends | £0 | +£0 | |
| Yr 4 Interest | £0.04 | +£0 | |
| Yr 4 Profit from sales | £484.30 | +£0 | |
| Yr 4 Average monthly cash profit | £111.81 | (3.5%) | -£6.99 |
| Total Dividends | £1,342.25 | +£0 | |
| Total Interest | £0.07 | +£0 | |
| Total Profit from sales | £11,029.22 | +£0 | |
| Average monthly cash profit | £301.68 | (9.4%) | -£1.75 |
| (Sold stocks profit + Dividends - Fees / Months) |
The big drop for IQE:IQE and 4% drop for CAML:Central Asia Metals meant losses deepened much more than profits dropped. I'm also well below target now for average monthly performance. Most likely sale to try and get that back will be PAF:Pan African Resources which I may pump into CEY:Centamin to bring my average price down. I really need PAF:Pan African Resources to get back up to 10p though, and for CEY:Centamin to stay around 90p until then. Good news is that my work pension now has enough in it to transfer some to my SIPP, so I'll be adding £2,200 in the next few weeks.
Still just the right side of the red line
Well below the trend line now, but thankfully it's still pointing upwards
The trading portfolio looks like this after week 139
| Weekly Change | |||
| Cash | £18.80 | +£0 | |
| Portfolio cost | £2,321.29 | +£0 | |
| Portfolio sell value (bid price - commission) | £1,453.52 | (-37.4%) | -£88.69 |
| Potential profits | £0 | +£0 | |
| Year 3 Dividends | £17.33 | +£0 | |
| Year 3 Profit | £177.06 | +£0 | |
| Yr 3 Average monthly cash profit | £24.07 | (12.4%) | -£0.71 |
| Dividends | £18.48 | +£0 | |
| Profit from sales | -£64.29 | +£0 | |
| Average monthly cash profit | -£1.43 | (-0.7%) | +£0.01 |
| (Sold stocks profit + Dividends - Fees / Months) |
It's been looking good the last few weeks, but IQE:IQE got whacked and we're back down again a lot quicker then we went up. Amazing that the average monthly performance is still well above 10% for year 3, but no hope of selling anything in the near future.
Just as it looked like the corner had been turned, back down we go
It may have turned downwards, but it's still above the trend line - woohoo!
I'm not going to speculate on next week, other than whether Legal & General will find some new excuse not to allow my pension transfer. I really need to snap out of this 2-month period of doom and gloom. I don't think it's Brexit-induced. It's been news induced, but none of it has been good news. Surely that's got to change some time?
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