Friday, 25 February 2011
Feb '11 Trading Update - Cross Roads of Disaster
However, nearly all my share positions are for the long-term now rather than pure trading.
EMED - Waiting on opening their mine in Spain, Copper is at record highs when (and this could be Q2 now having slipped from Q1) they get the go ahead the company will significantly re-rate. Up and down terribly in the mean time.
XTR - Waiting on several drills this year, ANY success will re-rate the company beyond its 5p current trading top.
AST - Good progress but a poor recent statement has scared PI's and the market. Still likely to be successful in its quest to bring online the largest onshore gas play in Europe in Slovenia. huge buy at these prices.
IAE - Solid progress by the North Sea producer. May sell down more as price range top is 190's and it is close. Long term a very safe place for your money and isa-ble.
GKP - Blown to pieces by Iraq protests. Always a big gamble and remains so; but billions of barrels of oil make it worth the continued risk. Current sell-off looks overdone - price held at 133 key support.
CAZA - Onshore US gas E&P, new buy (very poorly timed by me). No political risk and good chances of success. Isa-able
XEL - incredible sell-off despite imminent news of reserves confirmation which will re-rate the company to 600p. Massive short-term buying opportunity and have been topping up. Suffers from flight to risk despite being North Sea play - bizarre.
Overall, I have been 30% at points up this year and now the portfolio sits at exactly 0.01% up. Further market falls will be painful as the shares I have picked are all leveraged to risk effectively. On the other side, a string of good news could see the portfolio up to my 50% target for the year in no time.