This week went rapidly downhill towards the end and resulted in one of my worst weeks for a while. The deficit between cost and value widened by a whopping £7,284 to £135,703. The deficit between injection and value increased to £48,892 and total portfolio value fell to £133,876. Just as I thought things were turning around, we're sinking like a brick once more.
There was an immediate drop in OPTI:Optibiotix after the SBTX news, as that fell 16% and contributed to a big chunk of the weeks losses. I thought this had some upwards momentum now, but we're right back at recent lows with no sign of anything happening to change that. I don't think this is going anywhere unless we move to profitability, which may still be several years away.
PRU:Prudential dropped a massive 10% and halved my potential profits in a week. I don't know why, as they don't seem to have any links to the AI sell-off. They do have a competitor that reported underwhelming performance, so it may be linked to that.
THX:Thor Explorations is one of my new magic formula shares, purchased on Monday. They promptly dropped by 8% despite my other gold shares going up this week. That did enable me to buy some more. Their current P/E ration is 4, which makes me think they probably have more upside potential than my other gold stocks.
JLP:Jubilee Metals appeared to be gradually climbing, which is why I bought more last week. I was wrong, and as has happened every single time I buy some for a perceived quick profit, they immediately dropped in value. They fell 7% this week and were a large contributor to my dreadful performance.
KNOS:Kainos Group fell 16% last week and fell another 7% this week to go 22% down after being in profit 2 weeks ago. This AI scare had better bugger off soon!
HSX:Hiscox fell 5% and are no longer in profit. I don't know what has driven the fall, but as they are 49th in my magic formula ranking they are very close to falling out of the top 50. I'll keep them for the next 6 months though, until my next ranking review, as I hope this is just a blip, but as they are no longer in the top 30 I won't be buying more.
MSI:MS International are one of my new shares and dropped 5% this week for no obvious reason.
RIO:Rio Tinto continue to surge, probably because I keep selling them. They went up 5% this week so my holding is now 30% up. I still have £5k invested so it's one of my bigger holdings.
W7L:Warpaint London did put out their results this week and they were OK, so they went up 5%, but that didn't make up for the 13% drop last week and my holding is still 10% down after just 2 weeks.
PAF:Pan African Resources went up 6% and my holding is now up by 373% so I did top-slice a few to re-invest in lower valued gold share THX:Thor Explorations.
YU.:Yu Group have been making very steady progress since I bought them and went up 6% this week to go 20% up altogether.
MGNS:Morgan Sindall Group released excellent results and went up 8% to go 12% up altogether.
EDV:Endeavour Mining had a brilliant week, gaining 10% to go 20% up with £835 potential profit.
Share of the week is AFC:AFC Energy, which announced a new joint venture and reversed the recent declines to gain 12%. My holding is still 18% down, but given the new venture is looking at re-purposing existing diesel engines to run on ammonia/hydrogen, it could be a very big earner.
Here's the ISA and shares portfolio after week 29 of year 11.
| Weekly Change | |||
| Cash | £87.73 | +£0 | |
| Portfolio cost | £116,875.69 | +£0 | |
| Portfolio sell value (bid price-commission) | £40,974.10 | (-64.9%) | -£4,512.74 |
| Potential profits | £1,038.80 | -£44.95 | |
| Yr 11 Dividends | £69.36 | +£0 | |
| Yr 11 Interest | £0.80 | +£0 | |
| Yr 11 Profit from sales | £527.06 | +£0 | |
| Yr 11 proj avg monthly profit | £81.63 | (1.1%) | -£2.92 |
| Total Dividends | £12,557.43 | +£0 | |
| Total Interest | £9.37 | +£0 | |
| Total Profit from sales | £18,087.33 | +£0 | |
| Average monthly cash profit | £237.09 | (3.3%) | -£0.43 |
| (Sold stocks profit + Dividends - Fees / Months) |
Massive drop in value but only a tiny drop in potential profits as TRU:Trufin gained 2%, but CWR:Ceres Power dropped 1% and AMRQ:Amaroq dropped 4%.
Nasty
I knew it was too good to last
The SIPP looks like this after week 533 overall and week 13 of year 11.
| Weekly Change | ||||
| Cash | £1,416.30 | -£1,016.09 | ||
| Portfolio cost | £151,200.61 | +£2,377.26 | ||
| Portfolio sell value (bid price - commission) | £91,398.76 | (-39.6%) | -£2,772.25 | |
| Potential profits | £14,074.35 | -£12.05 | ||
| Yr 11 Dividends | £500.16 | +£5.98 | ||
| Yr 11 Interest | £6.07 | +£0 | ||
| Yr 11 Profit from sales | £5,517.32 | +£1,355.20 | ||
| Yr 11 proj avg monthly profit | £1,988.81 | (25.0%) | +£325.80 | |
| Total Dividends | £18,720.36 | +£5.98 | ||
| Total Interest | £26.77 | +£0 | ||
| Total Profit from sales | £30,183.83 | +£1,355.20 | ||
| Average monthly cash profit | £384.17 | (4.8%) | +£10.37 |
I went through with my plan to sell some RIO:Rio Tinto shares on Monday. I sold 32 shares at 6889.8923p making £463.47 (26.1%) profit. As planned, I bought 1,265 shares in THX:Thor Explorations at 86.9p costing £1,108.24 and 1,433 shares in GCP:GCP Infrastructure Investments at 76.72p costing £1,108.35.
Then I had my monthly investment, which first bought 110 shares in ESTC:The European Smaller Companies Trust at 226.497p costing £251.90. Then I bought my third installment in III:3i Group, which was 7 shares at 3306p costing £234.08. I have another 2 months of buying these. Finally I topped up FOUR:4imprint by buying 6 shares at 3895.9941p costing £236.43.
I was dismayed at the end of the week when THX:Thor Explorations tanked 8% for no apparent reason, while my other gold stocks were up. I decided to switch some of my PAF:Pan African Resources shares into THX because it appears to have more capacity for rapid growth, and it would allow me to take some profits. I sold 800 PAF shares at 143.1586p and made £891.73 (351.7%) profit. That enables me to buy another 1,719 shares in THX at 81.94p costing £1,417.50. Let's just hope they grow as much as I hope they will.
Cash dropped partly due to the monthly investment and partly using up some spare cash for the THX purchase, value collapsed by £2,772 but potential profits only fell by £12 despite cashing in £1,355 thanks to some decent rises mainly in my gold mines. I got a £5 dividend from SOI:Schroder Oriental Income and very happy to say that long-term monthly profit over the last 10 years went up by £10 a month and to 4.8%. That's still half my target, but I've only been using my magic formula for just over a year. I wish I'd discovered it right from the start.
One lousy week above the injection line - the world can be very cruel.
Absolutely plummeting back towards the trend line - and right back to the level we were at 12 months ago.
There's at least one chart that lifts my heart. I do need to be careful I don't cash in all my profitable shares though. I think a little break on selling is required.
I need a quiet week next week. I've been on a selling and buying frenzy for the last few weeks, but I now have all the new magic formula shares I want to buy in the short term. The others will be picked up gradually either as monthly investments or if I ever get to sell any JLP:Jubilee Metals shares. What is frustrating is that some of my SIPP JLP holdings were in profit last week, so I could have sold them and invested in magic formula shares, but I was holding out for more profit. I could have had £4,500 to invest if I'd sold last week, but I was hoping to have £9,000 before I sell them. That might be wishful thinking.
One lousy week above the injection line - the world can be very cruel.
Absolutely plummeting back towards the trend line - and right back to the level we were at 12 months ago.
There's at least one chart that lifts my heart. I do need to be careful I don't cash in all my profitable shares though. I think a little break on selling is required.
I need a quiet week next week. I've been on a selling and buying frenzy for the last few weeks, but I now have all the new magic formula shares I want to buy in the short term. The others will be picked up gradually either as monthly investments or if I ever get to sell any JLP:Jubilee Metals shares. What is frustrating is that some of my SIPP JLP holdings were in profit last week, so I could have sold them and invested in magic formula shares, but I was holding out for more profit. I could have had £4,500 to invest if I'd sold last week, but I was hoping to have £9,000 before I sell them. That might be wishful thinking.
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