Week 268 Review - General misery all round

An utterly horrible week. Big falls in most of my larger holdings and an inexplicable fall in OPTI:Optibiotix considering the wealth of good news. Every time I think things are turning around they go crashing back down again. This week the deficit between cost and value widened by £6,817 to £29,705 and the portfolio value dropped to £90,900.

Biggest faller was JLP:Jubilee Metals which suffered panic selling when the general market declined and weak holders couldn't bear to see their profits dwindle. They plummeted 16% which hammered my potential profits. They are still 20% up in my ISA but another week like this will see all my profits wiped out.

FXPO:Ferrexpo have dropped 13% and are back making a loss at 4% down. I don't see any reason for it other than the general market dive.

OPTI:Optibiotix fell 4p despite last week's SweetBiotix announcement and this week's announcement of a Slimbiome Medical deal in the US, along with really good half yearly results. How on earth can those lead to a 7% fall when there's no profits to take as we've not had any sort of spike to enable profits to be taken. I'm feeling exasperated.

IQE:IQE just won't recover! They fell another 6% this week and are 33% down in my ISA and much, much worse in my SIPP.

CAML:Central Asia Metals didn't release any news on the SASA pollution incident or the dividend reinstatement and the shares slipped another 5% to go 20% down. This is another share price that's leaving me completely bewildered.

It wasn't blanket bad news, as TRMR:Tremor climbed 5%, although they are still 46% down so not much hope of selling them any time soon. 

Share of the Week yet again is DDDD:4D Pharma, although only an 11% rise this week a shadow of last week's 73%. They are now 236% up and making £3,436 potential profit.

Not quite down as far as the week before last but still makes me miserable.

Just above the trend line which is still pointing downwards.

The ISA and share portfolios look like this

			Weekly Change
Cash	£6.98		+£0
Portfolio cost	£62,366.49		+£0
Portfolio sell value (bid price-commission)	£43,664.02	(-30.0%)	-£3,869.03
Potential profits	£1,225.79		-£995.04
Yr 6 Dividends	£0		+£0
Yr 6 Profit from sales	£0		+£0
Yr 6 Average monthly cash profit	-£4.06	(-0.1%)	+£0.58
Total Dividends	£1,343.15		+£0
Total Profit from sales	£20,426.61		+£0
Average monthly cash profit	£348.11	(6.7%)	-£1.31
(Sold stocks profit + Dividends - Fees  / Months)
Performance/Injection	10.0%		-0.1%
Compound performance	52%		+0%

General misery as the value drops by £3,869 and even more misery as JLP:Jubilee Metals loses £995 of potential profits. Reading the bulletin boards even long term holders are panicking and selling up. I guess they'll get to buy in again at a cheaper price, but it's a risky move and not one I'm willing to make.

Almost back down to the injection line

Only just above the trend line which I suspect is about to take a steeper dive downwards as we lose the lows from 12 months ago.

The SIPP looks like this after week 252

			Weekly Change
Cash	£64.44		+£0
Portfolio cost	£55,593.53		+£0
Portfolio sell value (bid price - commission)	£45,655.84	(-17.9%)	-£2,914.40
Potential profits	£3,903.56		-£294.10
Yr 5 Dividends	£96.37		+£0
Yr 5 Interest	£0.03		+£0
Yr 5 Profit from sales	£212.32		+£0
Yr 5 Average monthly cash profit	£16.19	(0.3%)	-£0.37
Total Dividends	£1,995.61		+£0
Total Interest	£0.20		+£0
Total Profit from sales	£12,761.31		+£0
Average monthly cash profit	£243.66	(5.3%)	-£0.97
(Sold stocks profit + Dividends - Fees / Months)
Performance/Injection	7.8%		-0.1%
Compound performance	38%		+0%

Huge drop of £2,914 but only a tiny drop of £294 in potential profits thanks to DDDD:4D Pharma soaking up the drops elsewhere. I was hoping some dividends would arrive this week but they haven't reached my account. They should appear next week.

Back to about the half-way point between orange and red.

Still £10k underwater and bouncing along in a £4k range

The trading account looks like this after week 218

			Weekly Change
Cash	£220.72		+£0
Portfolio cost	£2,354.16		+£0
Portfolio sell value (bid price - commission)	£1,288.81	(-45.3%)	-£34.15
Potential profits	£0		+£0
Year 5 Dividends	£0		+£0
Year 5 Profit	£154.70		+£0
Yr 5 Average monthly cash profit	£67.03	(34.2%)	-£7.45
Dividends	£47.92		+£0
Profit from sales	£441.07		+£0
Average monthly cash profit	£9.72	(5.0%)	-£0.04
(Sold stocks profit + Dividends - Fees  / Months)

Another bad week with nearly everything dropping and £34 wiped off the value. This account is well and truly frozen up again for the forseeable future after a brief flurry of success was ended by my stupi mis-reading of what was about to happen to the TLOU:Tlou Energy share price.

Properly falling away now

Well below the trend line just as it was starting to point the right way.

I shudder to think how bad my wish list has fared

1. SBTX to drop in price to 16p. It's down from 20p to 17.5p this week so getting really close. Unfortunately JLP:Jubilee Metals has dropped as well so I don't really want to sell them until they have recovered a bit. Back end of next week would be perfect for both to align.
2. TLOU:Tlou Energy announce de-watering has resumed. No sign of any progress and the share price continues to slide.
3. IQE:IQE increase another 5% so we get a gradual climb to 100p. Another drop this week so I think I'll ditch this wish, as it's clearly going to remain volatile for the next few months..
   
4. Six SIPP shares to stay in potential profit. Not just POLR:Polar Capital Holdings letting the side down, dropping another 2%, but FXPO:Ferrexpo has dropped to a 4% loss so I can't even keep my magic formula shares in profit..
5. JLP:Jubilee Metals to announce permission to process platinum rich tailings at DCM. Still no sign and the share price is sliding as people take profits.
6. OPTI:Optibiotix to get within 10% of profit. I only brought this one back last week as it was looking on the cards. Instead we went the other way despite really strong interims. I'm keeping this one because I'm so desperate for it to happen.
7. CAML:Central Asia Metals re-instate their dividend. No news on the costs of the tailings leak clean up, but hopefully we'll get news next week.
   
8. MMX:Minds + Machines announce their maiden dividend. Results are out on Wednesday, so this is the wish that's most likely to come true next week.

Week 267 Review - Great week overshadowed by Central Asia Metals disaster

This was meant to be the week CAML:Central Asia Metals announced great results and re-instated the dividend. I really thought I would get back into profit on the back of that. Instead Monday saw the announcement of a breach in one of their Sasa tailings dams causing polluted tailings to enter the river. Not only an ecological disaster, but a disaster for the share price. What's most concerning is that CAML treat their safety and environmental responsibilities seriously, so this never should have happened. 

Despite this, the rest of the portfolio did really well with some big rises and OPTI:Optibitox staging a small recovery. The deficit between cost and value reduced by £7,841 to £22,887 and total portfolio value increased to £97,718.

CAML:Central Asia Metals was not surprisingly the biggest loser, dropping 12% to go 15% down. The results were really good on Wednesday given Covid and low metal prices. Although down on last year they still paid off loads of debt and have plenty of cash. They were about to re-instate the dividend as I suspected, but have postponed an announcement until they know the implications of the dam breach. Based on the relatively small amount that leaked, there shouldn't be too much of an impact. There will however be fines to pay and a cleanup operation to fund.

TLOU:Tlou Energy dropped 8% in my trading account but only 2% in my ISA. The offer price is pretty close to what I paid, but there is a 20% spread to the bid price. It was clearly a mistake to get them in the trading account, but I'm still excited for prospects here.

MMX:Minds + Machines has been drifting over the last few weeks and dropped another 5% this week. Given they stated there would be an announcement on the maiden dividend in September, I'm still hoping for a re-rate when that announcement comes.

FXPO:Ferrexpo had a good week, climbing 6% to go 9% up, and with another dividend about to arrive these are performing well.

OPTI:Optibiotix finally announced the Sweetbiotix manufacturing deal we've been waiting for so long. I thought the share price would double on that, but it hardly moved at all. It moved more after an announcement that LP-LDL would be sold in Brazil. I think the door will be open to announce lots of deals for Sweetbiotix now there's a manufacturer, so hopefully we'll be in profit before too long as I'm fed up of holding a big loss.

JLP:Jubilee Metals has another great week, climbing 11% to go 36% up in my ISA with potential profit of £2,220. I won't be selling though. I will be selling my SIPP holding which is up 34% and making £688 potential profit. I just need SBTX:Sweetbiotix to get down to my target price.

Share of the Week yet again is DDDD:4D Pharma, which climbed a staggering 73% of my purchase price this week and is now 225% up with potential profit of £3,273. I'm not selling any though - there's a hell of a lot more to come yet.

Not quite back up to the half-way point between the cost and injection lines

No change to the trend line, but we're well above it now

The ISA and share portfolios look like this

			Weekly Change
Cash	£6.98		+£0
Portfolio cost	£62,366.49		+£0
Portfolio sell value (bid price-commission)	£47,533.05	(-23.8%)	+£4,709.44
Potential profits	£2,220.83		+£710.74
Yr 6 Dividends	£0		+£0
Yr 6 Profit from sales	£0		+£0
Yr 6 Average monthly cash profit	-£4.64	(-0.1%)	+£0.78
Total Dividends	£1,343.15		+£0
Total Profit from sales	£20,426.61		+£0
Average monthly cash profit	£349.42	(6.7%)	-£1.31
(Sold stocks profit + Dividends - Fees  / Months)
Performance/Injection	10.1%		+0%
Compound performance	52%		+0%

Great increase in value mainly thanks to OPTI:Optibiotix, and the £710 increase in potential profits was all JLP:Jubilee Metals

Well below the halfway point between injection and cost, but a nice bounce after the misery of the last few weeks.

Back above the trend line which still seems to be ever so slightly downwards, but getting flatter

The SIPP looks like this after week 251

			Weekly Change
Cash	£64.44		+£0
Portfolio cost	£55,593.53		+£0
Portfolio sell value (bid price - commission)	£48,570.24	(-12.6%)	+£3,201.98
Potential profits	£4,197.66		+£1,301.36
Yr 5 Dividends	£96.37		+£0
Yr 5 Interest	£0.03		+£0
Yr 5 Profit from sales	£212.32		+£0
Yr 5 Average monthly cash profit	£16.56	(0.4%)	-£0.40
Total Dividends	£1,995.61		+£0
Total Interest	£0.20		+£0
Total Profit from sales	£12,761.31		+£0
Average monthly cash profit	£244.63	(5.3%)	-£0.98
(Sold stocks profit + Dividends - Fees / Months)
Performance/Injection	7.9%		+0%
Compound performance	38%		+0%

Nice increase in potential profits mainly thanks to DDDD:4D Pharma and a bit from JLP:Jubilee Metals and FXPO:Ferrexpo, but the increase in sell value was diminished by the big drop in CAML:Central Asia Metals.

This one is a lot closer to the cost line and almost at a record high. The post-covid part of the chart looks pretty good.

Still quite a steep downwards trend line, but we're well above it now.

Here's the trading portfolio after week 217

			Weekly Change
Cash	£220.72		+£0
Portfolio cost	£2,354.16		+£0
Portfolio sell value (bid price - commission)	£1,322.96	(-43.8%)	-£70.06
Potential profits	£0		+£0
Year 5 Dividends	£0		+£0
Year 5 Profit	£154.70		+£0
Yr 5 Average monthly cash profit	£74.48	(38.0%)	-£9.31
Dividends	£47.92		+£0
Profit from sales	£441.07		+£0
Average monthly cash profit	£9.76	(5.0%)	-£0.05
(Sold stocks profit + Dividends - Fees  / Months)

A dreadful week with big drops for CAML:Central Asia Metals and TLOU:Tlou Energy not matched by small rises in IQE:IQE and TRMR:Tremor and resulting in a £70 drop.

It was looking promising a few weeks ago...

Well below the trend line now, but at least it's still pointing upwards

Here's my wish list

1. OPTI:Optibiotix SweetBiotix announcement. Yes! At last! It didn't have the short term effect on the share price I'd hoped for, but is an important milestone, and the announcement made it clear that other manufacturers would be producing some of the other Sweetbiotix products, so there should be further announcements to come. The other snippet of info was that there are 11 partners in advanced testing of the product, and that's just one of six Sweetbiotix products that have been developed.
2. SBTX to drop in price to 16p. Unfortunately the drop to 19p was reversed this week and we're back up to 20p,, but given JLP:Jubilee Metals has quite a bit further to go in the short term, I'm happy to wait a bit longer.
3. TLOU:Tlou Energy announce de-watering has resumed. Nope, and the price is dropping. I'm hoping that it's being manipulated, as a 20% spread suggests the market makers may be trying to get stock and want to put off retail buyers. If that's the case we could see a spike upwards next week. That could be wishful thinking.
   
4. IQE:IQE increase another 5% so we get a gradual climb to 100p. There was a 2% climb this week, but at least it wasn't a drop, so I'm keeping this wish as I think a gradual climb to 100p is possible.
   
5. Six SIPP shares to stay in potential profit. Let down by POLR:Polar Capital Holdings again, which dropped another 2% this week to go 5% down.
6. JLP:Jubilee Metals to announce permission to process platinum rich tailings at DCM. I can't believe we've still not had this announcement, so I'm keeping it on the list.
7. OPTI:Optibiotix to get within 10% of profit. I canned this one last week, but it's back on the cards so I'm not canning it. The ISA holding is only 14% down and SIPP is 18% down so that might take a bit longer.
8. CAML:Central Asia Metals re-instate their dividend. I thought I'd be saying this had come true and scrubbing it off the list, but it hasn't. If things move quickly with the tailings dam repair then we may see an announcement, so I'll keep it in the list
9. This is a new one - that MMX:Minds + Machines announce their maiden dividend. It's meant to be happening in September so I think next week could be the week, and hopefully the price drop this week is just Market Makers trying to trigger a few more stop losses before a re-rate next week.
   

Week 266 Review - Misery as Optibiotix continues to fall

Another horrible week, with many stocks falling and OPTI:Optibiotix slipping another 4p back down below 50p. There seems no end to these doldrums. I thought things were supposed to pick up in September? The combined portfolios lost £4,822 which widened the deficit between cost and value to £30,729 and reduced the portfolio value to £89,877.

Worst performer was MMX:Minds + Machines which dropped 11% for absolutely no reason at all. It's really annoying as they were looking like they had some momentum, and I've decided I want to sell them to invest in ITV:ITV which is one of my magic formula shares which is seemingly a massive bargain right now.

IQE:IQE dropped 7% presumably on the back of the American tech sell-off. The difference is those tech companies had all been soaring at record levels and have corrected, whereas IQE have been in a slump, and now have got even worse. One could suggest that's not fair.

OPTI:Optibiotix dropped 6% on no news and general disillusionment despite everything going to plan and looking really good. I think all the long term holders have run out of spare cash to buy any more, and potential investors are put off by the wild swings up and down as traders fill their boots.

DDDD:4D Pharma suffered some profit taking after the recent meteoric rise and also fell 6% this week, but they are still 152% up so I can't complain.

There was only one share that increased by a big margin this week, so Share of the Week goes to FXPO:Ferrexpo which climbed 5% after declaring a special dividend and are now back in profit in my account.

Bad - very bad indeed.

Some consolation that we're still above the trend line, but only just

The ISA and share portfolios look like this

			Weekly Change
Cash	£6.98		+£0
Portfolio cost	£62,366.49		+£0
Portfolio sell value (bid price-commission)	£42,823.61	(-31.3%)	-£2,750.01
Potential profits	£1,510.09		+£142.15
Yr 6 Dividends	£0		+£0
Yr 6 Profit from sales	£0		+£0
Yr 6 Average monthly cash profit	-£5.42	(-0.1%)	+£1.08
Total Dividends	£1,343.15		+£0
Total Profit from sales	£20,426.61		+£0
Average monthly cash profit	£350.73	(6.7%)	-£1.32
(Sold stocks profit + Dividends - Fees  / Months)
Performance/Injection	10.1%		+0%
Compound performance	52%		+0%

Big drop in value but a tiny ray of sunshine as JLP:Jubilee Metals goes up a tiny amount and potential profits increase by £142.

Right back down to the injection line. I hoped we'd left that way behind, but the optimism of a few weeks ago has been dashed.

The trend line has switched back to a downwards slope, and we're below it. Drat!

Here's the SIPP after week 250

			Weekly Change
Cash	£64.44		+£0
Portfolio cost	£55,593.53		+£0
Portfolio sell value (bid price - commission)	£45,368.26	(-18.4%)	-£2,053.88
Potential profits	£2,896.30		-£23.00
Yr 5 Dividends	£96.37		+£0
Yr 5 Interest	£0.03		+£0
Yr 5 Profit from sales	£212.32		+£0
Yr 5 Average monthly cash profit	£16.96	(0.4%)	-£0.41
Total Dividends	£1,995.61		+£0
Total Interest	£0.20		+£0
Total Profit from sales	£12,761.31		+£0
Average monthly cash profit	£245.61	(5.3%)	-£0.98
(Sold stocks profit + Dividends - Fees / Months)
Performance/Injection	7.9%		+0%
Compound performance	38%		+0%

Last week DDDD:4D Pharma protected the big drop in OPTI:Optibiotix, but not this week as value dropped by £2,053. The good news is that potential profits only dropped by £23 so my magic formula shares held up well.

Around halfway between cost and injection - resilient.

Still a good distance above the trend line, but it's proving stubborn to turn around.

The trading account looks like this after week 216

			Weekly Change
Cash	£220.72		+£0
Portfolio cost	£2,354.16		+£0
Portfolio sell value (bid price - commission)	£1,393.02	(-40.8%)	-£18.74
Potential profits	£0		+£0
Year 5 Dividends	£0		+£0
Year 5 Profit	£154.70		+£0
Yr 5 Average monthly cash profit	£83.79	(42.7%)	-£11.97
Dividends	£47.92		+£0
Profit from sales	£441.07		+£0
Average monthly cash profit	£9.81	(5.0%)	-£0.05
(Sold stocks profit + Dividends - Fees  / Months)

IQE:IQE put a downer on things, but the other shares helped limit the damage to £18. No sign of being able to sell anything for a long time.

A worrying slow decline

The trend line is getting steeper which is good, but we've now dipped below it which is bad.

Let's see how well the wish list performed. I suspect not very well

1. OPTI:Optibiotix SweetBiotix announcement. No OPTI announcements and a gradual tortuous decline.
   
2. SBTX to drop in price to 16p. We are getting closer, dropping from 21p to 19p this week. I'm starting to feel twitchy now as a good news RNS will make it rocket, but I've set my target for 16p so I'm going to stick to it. I just need a spurt from JLP:Jubilee Metals so I have more to spend.
3. TLOU:Tlou Energy announce de-watering has resumed. A flat week and still no announcement. I really need these to perk up.
   
4. IQE:IQE increase another 5% so we get a gradual climb to 100p. Hahahaha no way! Decline for 2 weeks on the trot now, so surely a 5% rise should be possible next week?
   
5. Six SIPP shares to stay in potential profit. So close to getting this one. FXPO:Ferrexpo went back into profit, but POLR:Polar Capital Holdings dropped to a 3% loss. Let's hope we can get all 6 in profit next week.
6. JLP:Jubilee Metals to announce permission to process platinum rich tailings at DCM. This was promised weeks ago. I'm definitely adding that we start production with the fine chrome plant as that ought to be ready by now.
7. OPTI:Optibiotix to get within 10% of profit. Well I may as well can this one as we're way below and it's going to take a while for that to turn around.
8. CAML:Central Asia Metals re-instate their dividend. Interim results are on Wednesday, so this one may come true, and if it does we should see a big correction upwards.

Week 265 Review - 4D Pharma soars but Optibiotix drifts

A fairly poor week with lots of small losses and OPTI:Optibiotix dropping 4p, so the deficit between cost and value widened by £3,973 and wiped out most of last week's gains. The deficit stands at £25,906 and total portfolio value has dropped to £94,699.

OPTI:Optibiotix was the biggest loser. The 4p drop was 7% and cost £4,400, but it was great that the other shares managed to pull some of that back.

JLP:Jubilee Metals is climbing in pulses of activity followed by a sell off. This week was the sell off and they dropped 5% but are still up by 22% overall.

MMX:Minds + Machines said they would review if they are going to pay their maiden dividend in September. It's now September so the 13% rise this week may be in anticipation of an announcement. The interims were released on 24th September last year. I think we should see a small re-rate if they do announce a dividend.

Share of the Week for the second week in a row is DDDD:4D Pharma. I was pleased with 35% last week after the 24% drop the week before and the amazing 85% rise the week before that. This week they rose by 63% and are now up by 158% altogether and making £2,299 potential profit. Am I going to sell? No way - these are a keeper.

Back to where we were 2 weeks ago.

Not quite flat yet

The ISA and share portfolios look like this

			Weekly Change
Cash	£6.98		-£3.75
Portfolio cost	£62,366.49		+£0
Portfolio sell value (bid price-commission)	£45,573.62	(-26.9%)	-£3,026.00
Potential profits	£1,367.94		-£284.30
Yr 6 Dividends	£0		+£0
Yr 6 Profit from sales	£0		+£0
Yr 6 Average monthly cash profit	-£6.50	(-0.1%)	-£2.43
Total Dividends	£1,343.15		+£0
Total Profit from sales	£20,426.61		+£0
Average monthly cash profit	£352.05	(6.8%)	-£1.40
(Sold stocks profit + Dividends - Fees  / Months)
Performance/Injection	10.1%		-0.1%
Compound performance	52%		+0%

Cash dropped by the monthly ISA fee which also blatted year 6 performance as nothing has been sold yet. A really big drop which was much bigger than last weeks' gains, and JLP:Jubilee Metals fell by £284 tp reduce paper profit.

Back to being perilously close to the injection line

The line is just about pointing upwards, but I think that might change when the 4 weeks of low value vanish off the left side.

The SIPP looks like this after week 249

			Weekly Change
Cash	£64.44		-£16.66
Portfolio cost	£55,593.53		+£0
Portfolio sell value (bid price - commission)	£47,422.14	(-14.7%)	-£948.68
Potential profits	£2,919.30		+£782.40
Yr 5 Dividends	£96.37		+£0
Yr 5 Interest	£0.03		+£0
Yr 5 Profit from sales	£212.32		+£0
Yr 5 Average monthly cash profit	£17.37	(0.4%)	-£2.24
Total Dividends	£1,995.61		+£0
Total Interest	£0.20		+£0
Total Profit from sales	£12,761.31		+£0
Average monthly cash profit	£246.59	(5.3%)	-£1.29
(Sold stocks profit + Dividends - Fees / Months)
Performance/Injection	7.9%		-0.1%
Compound performance	38%		+0%

The big drops were offset by the massive increase in DDDD:4D Pharma, so this account fared much better than the ISA, and potential profits rose by £782.

Just a little blip downwards but still looking much better than a few months ago.

Still way off turning around the trend line

The trading portfolio looks like this after week 215

			Weekly Change
Cash	£220.72		+£0
Portfolio cost	£2,354.16		+£0
Portfolio sell value (bid price - commission)	£1,411.76	(-40.0%)	+£0.72
Potential profits	£0		+£0
Year 5 Dividends	£0		+£0
Year 5 Profit	£154.70		+£0
Yr 5 Average monthly cash profit	£95.76	(48.8%)	-£15.96
Dividends	£47.92		+£0
Profit from sales	£441.07		+£0
Average monthly cash profit	£9.86	(5.0%)	-£0.04
(Sold stocks profit + Dividends - Fees  / Months)

Virtually no change, with an increase of just 72p. Still no sign of being able to sell anything.

Not really making great strides at a recovery.

This chart looks better than the one above. Onward and upwards!

Let's see if any wishes came true this week

1. OPTI:Optibiotix SweetBiotix announcement. No OPTI announcements for a while so we have to keep hoping.
   
2. SBTX to drop in price to 16p. This is now down from 22.5p offer price to 21p so there may be an opportunity to buy back in before the next big news.
3. TLOU:Tlou Energy announce de-watering has resumed. All quiet this week.
   
4. IQE:IQE increase another 5% so we get a gradual climb to 100p. Nope - there was a 3% fall this week, but it may get worse as the tech conpanies are having a hard time.
5. Six SIPP shares to stay in potential profit. Drat! This one was true last week, but FXPO:Ferrexpo slipped back to loss during the week.
6. JLP:Jubilee Metals to announce permission to process platinum rich tailings at DCM. This still hasn't happened but surely must come soon. It's now getting to the stage where re-commencement of fine chrome production will be announced after all the kit was moved.
   
7. OPTI:Optibiotix to get within 10% of profit. It's nearer 20% down than 10% so no quick fix .
8. CAML:Central Asia Metals re-instate their dividend. Still a few weeks to wait for interim results, so this wish may be a bit premature.
   

I want to know why the American stock exchange was riding at record highs whereas we are still over 2,000 points behind the highs. American stocks have a big sell-of because they are over-priced, but instead of ours stayng still as we've already had the sell-off, we join in and everything drops.

Let's hope the end of summer holidays helps perk up our market.