Monday 25 October 2010
October Trading Update
On the plus side, XEL has more or less doubled in a month and is now 200% up on the year, GKP has continued its strong run from 68p (my last top up was at 73p) to now 155p - so over 100% in the last 8 weeks. Of the other major holdings, EMED has gone nowhere, Minerva similarly and I have sold down a bit there too, IAE has recovered from 100 to 130 odd.
Of some long term pain providers, both Ascent and Xtract have perked up hugely, meanwhile KDD has merged with FDI so I now own a larger diamond producer, not that the performance is anything to get excited about.
In terms of new buys, I have topped up XEL and IAE and bought AEY which is another North Sea explorer, quite a long horizon for that one into end of next year to see real gains, but looks good with a new partner to develop its key field. Also I have bought back into HOIL, I sold much earlier in the year, but the shareprice is languishing and there is lots of good news to come out of Iraq before the year end and it has already performed well in a just a few weeks.
On the downside, missed big moves in both Futura and Nautical, but you can't win em all. Overall up just a tad under 50% for the year, which would hit my conservative aims. However, Mr market is well over bought so I expect a retrace for November before a Santa rally.