Biggest losers were TLOU:Tlou Energy and IKA:Ilika, both fallong 7%. TLOU has been drifting ever since they suspended operations due to Coronavirus. IKA are just drifting on lack of news. I'm reasonably confident both of these will get into profit eventually.
N4P:N4 Pharma dropped 6% as people began to realise what a load of rubbish they really are. I probably should have salvaged £350 last week as I think I'll end up losing everything, but I feel I may as well risk losing a few hundred quid in the hope they manage to do something useful.
JLP:Jubilee Metals almost got into profit, but has slid over the past couple of weeks. I think despite generating millions of dollars in revenues, most people simply don't trust the directors as they have zero success in generating shareholder value, but huge success in lining their own pockets. I think there is hope if our CEO can control the grasping instincts of our Chairman, but I fear any revenues will be thrown away bailing out his other failing companies.
Only one share rose by 5% or more this week, so Share of the Week goes to SBTX:SkinBioTherapeutics which rose 5% in my ISA and 7% in my SIPP. I'm surprised that they are going up while OPTI:Optibiotix go down, given they are 2 years from revenue whereas OPTI are earning revenue now. I think people are yo-yoing between them to trade the peaks and troughs.
Oh dear - at least the decline isn't as steep as last time, but it feels a bit relentless
The downward slide is steeper than the trend line, so not much hope of flattening it.
The ISA and share accounts look like this
| Weekly Change | |||
| Cash | £7.98 | +£0 | |
| Portfolio cost | £59,827.79 | +£0 | |
| Portfolio sell value (bid price-commission) | £39,923.44 | (-33.3%) | -£1.020.66 |
| Potential profits | £0 | +£0 | |
| Yr 5 Dividends | £0.63 | +£0 | |
| Yr 5 Profit from sales | £-167.28 | +£0 | |
| Yr 5 Average monthly cash profit | -£21.18 | (-0.4%) | +£0.12 |
| Total Dividends | £1,342.93 | +£0 | |
| Total Profit from sales | £20,224.13 | +£0 | |
| Average monthly cash profit | £371.41 | (7.4%) | -£1.56 |
| (Sold stocks profit + Dividends - Fees / Months) | |||
| Performance/Injection | 11.3% | -0.1% | |
| Compound performance | 54% | +0% |
OPTI:Optibiotix wasn't the only one to blame this week as most shares dropped, and £1,020 was taken off the value.
Still on the right side of the orange line but only just. Hopefully it's a pause for breath after the meteoric rise over the previous 4 weeks. We're still not back to the pre-coronavirus level.
At least we're still above the trend line
The SIPP looks like this after week 233
| Weekly Change | ||||
| Cash | £22.50 | +£0 | ||
| Portfolio cost | £49,176.17 | +£0 | ||
| Portfolio sell value (bid price - commission) |
£35,268.40 | (-28.3%) | -£728.55 | |
| Potential profits | £381.63 | +£142.49 | ||
| Yr 5 Dividends | £0 | +£0 | ||
| Yr 5 Interest | £0.03 | +£0 | ||
| Yr 5 Profit from sales | £0 | +£0 | ||
| Yr 5 Average monthly cash profit | -£14.15 | (-0.3%) | +£0.59 | |
| Total Dividends | £1,899.24 | +£0 | ||
| Total Interest | £0.20 | +£0 | ||
| Total Profit from sales | £12,549.10 | +£0 | ||
| Average monthly cash profit | £258.95 | (6.3%) | -£1.12 | |
| (Sold stocks profit + Dividends - Fees / Months) | ||||
| Performance/Injection | 9.8% | +0% | ||
| Compound performance | 44% | +0% |
Not as bad a drop as the ISA, and SBTX:SkinBioTherapeutics was Share of the Week so potential profits grew by £142. I've decided 20p is going to take some breaking through as the traders all sell at that point. If it hits 19.5p I'll sell and wait for the drop in the hope I can increase my holding. I may even buy some more if my pension transfer ever arrives.
Very similar to the ISA, but a much bigger buffer above the orange line.
Also very similar to the ISA, which isn't a surprise given the OPTI:Optibiotix bias in both accounts.
The trading portfolio looks like this after week 199
| Weekly Change | |||
| Cash | £0.09 | +£0 | |
| Portfolio cost | £2,490.21 | +£0 | |
| Portfolio sell value (bid price - commission) | £1,447.35 | (-41.9%) | -£77.25 |
| Potential profits | £8.42 | -£45.27 | |
| Year 4 Dividends | £13.20 | +£0 | |
| Year 4 Profit | £120.77 | +£0 | |
| Yr 4 Average monthly cash profit | £13.50 | (6.5%) | -£0.32 |
| Dividends | £47.92 | +£0 | |
| Profit from sales | £56.48 | +£0 | |
| Average monthly cash profit | £2.27 | (1.1%) | -£0.01 |
| (Sold stocks profit + Dividends - Fees / Months) | |||
| Performance/Injection | 1.2% | +0% | |
| Compound performance | 5% | +0% |
A bad week across the board, much of which was JLP:Jubilee Metals dropping and wiping out most of the potential profit.
It was looking so much better for a short while.
Is it my imagination or is that trend line getting distinctly flatter!
I've started reading a book to try and help with my so far feeble attempts at trading. It's called "The market Maker's Edge - Day Trading Tactics" by Josh Lukeman.
It's not an easy read, and he uses a lot of trader jargon without explaining it, but there are some good pointers. My hope was to find out more about what market makers get up to so I could try and explain what's happening with share prices. What's clear from the book is that market makers are actively trading the stocks, as in shorting as well as buying and selling, and that they rely on the psychology of private investors quite extensively.
I've been scratching my head wondering who has been trading some of the shares I own so aggressively, and now I realise it's been the market makers all along.
The first read hasn't sunk in, especially as I've been reading it in bed with a wee dram. I'll need to do a second read during the day and take some notes, with pauses to look up what his jargon means.
One key message is the importance of candlestick charts. I was always very skeptical of technical analysis, as my feeling was that the share price went up with good news and down with bad, but now I realise there are not many days with news, so on all the other days traders are watching those charts and acting on what they think they should do. The chart becomes a self-fulfilling prophesy. Learning to read that should make a huge difference.
The first thing I'm watching on a few shares is what happens on days when the share price breaks higher than the previous day's high. That's meant to be the best signal that it's about to go higher. I want to test that theory before using it to choose when to buy. It would certainly be a lot easier than learning all the candlestick patterns.
The other take-home from the book is that when trading, you should aim to be selling the shares on the same day you buy them, unless there's a sound reason to keep them. That's a very different mindset that I've not managed to develop yet.
The virtual magic formula portfolio is -21.17% this week, compared to -18.09% last week, so it's been a bad week all round with a 3% drop. The shares that had gone into profit last week have gone back to loss, leaving just PLUS:Plus500 and IGG:IG Group Holdings in profit. CARD:Card Factory is now 65% down, which if they stay in business until the end of the lockdown and make changes so they are less vulnerable next time, could suggest quite a bargain.
I'm not going to rant at length about the utterly pathetic performance of Legal & General at fulfilling my pension transfer request. I don't believe their reason is to do with staff shortages or anything like that - I believe they are holding the cash for as long as they can get away with. It's despicable and is going to cost me as all the stocks I wanted to buy bounce back. Some already have, but soon they will have bounced too far for me to want to buy them any more. I can't plan what I'm going to do as I have no idea when the cash will arrive.
I'm really hoping we have an OPTI:Optibiotix trading update this week. I was expecting it last week, so can only hope the delay is due to another deal being imminent. If the share price stays this low I will be buying more when the pension transfer arrives. Part of me hopes I don't get the chance.
I suspect at some point CAML:Central Asia Metals will announce the reinstatement of the dividend, as I don't think their production has been affected by Covid-19. I want to get my holding to 5,000 shares before that happens. I'm considering using the proceeds from selling SBTX:SkinBioTherapeutics to do that if the pension transfer still hasn't arrived. Then buy back using the transfer money if the price drops. That's actually a genius idea - given it only arrived due to me writing this. There may be some action tomorrow!
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