Well it didn't even last a week. There was a massive crash much bigger than
last week's gains, and we're firmly back in the red. The combined portfolios
dropped by a massive £13,451 which created a deficit of £9,739 between cost
and value and reduced overall portfolio value to £119,820. Bugger!
Biggest faller was one of may main holdings CAML:Central Asia Metals. It dropped 16% and I suspect a big reason for the drop is directors either selling some of their shares or exercising options and then immediately selling. That amounted to around 800,000 shares, so was bound to impact the price.
OPTI:Optibiotix lost all last week's gains and dropped by 9p which is 14% and responsible for £11K of this week's drop. I just need to accept that OPTI is doomed to be manipulated like this until sizable profits become a regular feature.
CMCL:Caledonia Mining looked like it had started to climb but dropped 8% this week and demonstrates just how bad my timing can be. They are down 23% altogether and ruining my magic formula performance stats.
JLP:Jubilee Metals dropped 7%, but that's not surprising after recent rises. They were looking good for the week until an RNS on Friday which initially made me want to sell up. However it actually appears to be a cunning way of transferring a convertible loan to shares in order to pay a debt, save on interest and introduce a couple of new institutional investors with the proceeds. The fact that they also cashed in some shares paid in lieu of salary to the directors and sold them at the same time caused unease, but the institutions were willing to buy at no discount so I think if anything it strengthens the shares.
APAX:Apax Global Alpha has been gradually climbing, but this week took a 5% drop. There doesn't seem to be any reason other than a bit of an equities sell-off.
FXPO:Ferrexpo also dropped 5% which may have been because no special dividend was announced in their Q4 production update.
IES:Invinity Energy also dropped 5% for no identifiable reason.
RDT:Rosslyn Data are showing some promise, as they have a system that allows companies to process customs documentation for importing and exporting now we're out of the EU. That could take off quite dramatically. I had written these off a few years ago, but now have a little hope I may at least get my money back. They climbed 5% this week but are still 60% down.
Share of the Week is my new investment ITX:Itaconix which climbed a staggering 45% this week following a 47% increase last week, so they take the title 2 weeks in a row. I'm regretting only investing £500 now as they are already up 76%. I need to decide if these are a keeper or if I take my money and run. Given the sheer number of products their ingredient is in, there is a chance of a big re-rate, but their current finances don't look great and their liabilities far exceed their assets which is a worry. We'll see.
Yuck!
Oh the misery.
The ISA and share portfolios look like this after week 24 of year 6
| Weekly Change | |||
| Cash |
£32.95 |
+£0 | |
| Portfolio cost | £63,009.29 | +£0 | |
| Portfolio sell value (bid price-commission) | £56,960.15 | (-9.6%) | -£6,773.55 |
| Potential profits | £8,691.66 | -£1,307.68 | |
| Yr 6 Dividends | £0 | +£0 | |
| Yr 6 Profit from sales | £591.81 | +£0 | |
| Yr 6 projected avg monthly profit | £102.79 | (3.0%) | -£4.47 |
| Total Dividends | £1,343.15 | +£0 | |
| Total Profit from sales | £21,018.42 | +£0 | |
| Average monthly cash profit | £337.30 | (9.7%) | -£1.19 |
|
(Sold stocks profit + Dividends - Fees / Months) |
|||
| Compound performance | 53% | +0% |
A devastating drop, and the big drop of JLP:Jubilee Metals hammered the
potential profits. One ray of sunshine is that IQE:IQE are back in the
black. They are only up by 1% and £19 potential profit, but given these were
meant to be a quick win while I waited to buy more
SBTX:SkinBioTherapeutics over a year ago, having the potential to get
back my £2,000 without loss if I need the cash is very precious.
I guess the positive news is that we're still closer to the cost line than the injection line.
We're also still well above the trend line.
The SIPP looks like this after week 268 overall and week 8 of year 6.
| Weekly Change | ||||
| Cash | £4,809.68 | +£0 | ||
| Portfolio cost | £59,093.46 | +£0 | ||
|
Portfolio sell value (bid price - commission) |
£55,816.11 | (-5.5%) | -£6,597.90 | |
| Potential profits | £5,625.87 | -£1,586.49 | ||
| Yr 6 Dividends | £378.23 | +£0 | ||
| Yr 6 Interest | £0 | +£0 | ||
| Yr 6 Profit from sales | £2,172.89 | +£0 | ||
| Yr 6 projected avg monthly profit | £1,363.81 | (40.8%) | -£194.83 | |
| Total Dividends | £2,445.31 | +£0 | ||
| Total Interest | £0.20 | +£0 | ||
| Total Profit from sales | £17,632.33 | +£0 | ||
| Average monthly cash profit | £314.06 | (9.4%) | -£1.18 | |
|
(Sold stocks profit + Dividends - Fees / Months) |
||||
| Compound performance | 48% | +0% |
Exactly the same problem as the ISA, with all last week's profit gains gone and a big deepening of the OPTI:Optibiotix loss. The good news is that 7 of the 14 holdings are in profit.
This paints a slightly rosier picture as the green line includes cash, and in a remarkable feat of discipline I've not spent my SBTX:SkinBioTherapeutics pot on anything else yet, so still have £4,000 cash. Once I spend it the red line will zoom up but the green line will stay put.
This gives a better indication of the scale of the drop, but we're above the trend line which is always good.
The trading account looks like this after week 234 overall and week 26 of year 5
| Weekly Change | |||
| Cash | £249.58 | -£508.74 | |
| Portfolio cost | £2,364.43 | +£508.74 | |
| Portfolio sell value (bid price - commission) | £1,951.59 | (-17.5%) | -£80.34 |
| Potential profits | £0 | -£40.39 | |
| Year 5 Dividends | £12.18 | +£0 | |
| Year 5 Profit | £631.65 | +£0 | |
| Yr 5 projected avg monthly profit | £107.31 | (54.5%) | -£4.29 |
| Dividends | £60.10 | +£0 | |
| Profit from sales | £918.02 | +£0 | |
| Average monthly cash profit | £18.11 | (9.2%) | -£0.08 |
|
(Sold stocks profit + Dividends - Fees / Months) |
I went for HUM:Hummingbird Resources with my cash pot and bought 1,567 shares at 31.895p costing £508.74. Now I'm trading more frequently I've got a £3 reduction in commission. The price hasn't really moved since I bought them, and the bid price is 31.5p so just 5% down on spread and commission. I thought gold was about to get back above £2,000 but it doesn't seem to be happening. I still think these are under priced and due for a re-rate soon.
All my CAML:Central Asia Metals potential profits vanished so I just
have to hope it was a blip and we'll be back on the move again soon, as
OPTI:Optibiotix has dropped enough for another go in the trading
account but I need to sell something first.
The cost is back up to its normal level. I wish TALY:Tally would come out of suspension as I've been sitting on a load of cash so when I sell them I can get back up to the £2,500 line. Although my new ambition is to get to the £5,000 line when I sell the OPTI:Optibiotix in my share account. That way I get to stay well over 100,000 shares and still top slice a little profit. They just need to get back into the 70p range first though. When I do that I'll bank the BLCC:Block Commodities loss and write off the share account so that only contains my trading shares. I need to try and make £700 profit on the OPTI shares in order to write off the BLCC loss without affecting my performance stats. It would take OPTI getting to 84p to enable that. It would give me £2,500 to add to the trading account and £800 to move into my ISA.
Still well above the trend line.
I was feeling so positive after last week. I thought nothing could stop a nice gradual increase in profits, and I'd be able to put my plan into action to transfer the share account OPTI shares to my trading account to try and boost my holiday fund. All that hope lies in dust today.
Let's see what next week brings...
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