Monday, 26 March 2012

March Trading Update




Another month goes by and yet again I have missed some great trading opportunities. It's not that surprising on AIM some of my share seem to move 15-20% in a few minutes and being employed full time I miss it alot.

The key mover of the last month has been GKP, which has really taken a beating as takeover speculation comes off. However, I am still confident this thing will sell at some point this year and it will be for more than the £4 it reached.

EMED, well the election is now and a new Government should approve the mine - all set to fly at last?

XTR -  I have dropped after a bad well drill in the North Sea. Having stayed with it for 3 years I have given up - no success at all and nothing to come for months. I sold at 1.5 which means on balance I came out slightly at a loss after some sells in profit and sells at a loss in previous years. I will keep tracking it, but it was only a small amount anyway (£1k).

IAE - Still awaiting takeover news, due tomorrow!

XEL - Again, now drilling again in the North Sea. Finely balanced here on a tipping point with the charts, with no news this could sink back to £1 or it could bounce. The Key is the support at 117-119p. With reserves of 116 million barrels this is valued about 1/3rd of what it should be. So a confident long-term hold.

Really looking at Circle Oil, San Leon Energy and EMG this month for future investment.

6 comments:

Ed said...

I am investing heavily in Premium Bonds and my zero interest current account.

Depression economics? Oh yes.

Budgie said...

Yes, a disappointing drift down for mine too. EMED down this morning on political news - probably more delays. The no-show well from XTR was primarily drilled as a geologist's exploration for info, so I think they are oversold at the moment.

However I am interested in RRL, PCI, AFE, RGM, PPA. Surely one of them will come good? The big questions are of course Israel and Iran, N Korea, and the Falklands going to Argentina.

Budgie said...

Not forgetting, which I did this morning, all the other problems: the eurozone; Cameron's complete uselessness; CAGW tripe; the EU; closing power stations; Cameron's complete uselessness; UK debts; MoD incompetence; and finally Cameron's complete uselessness.

Did I mention that Cameron is completely useless? No? - well then Cameron is completely, mind numbingly, Heath-without-brains useless.

dave said...

Got to admire your continued ramping of EMED. Years and years and years of lies and hope and they still have nothing to show for it.

I have money in it too by the way.

Budgie said...

Hey, CU, what're your thoughts on GKP? Are you still invested?

Budgie said...

Duh! I've just had a brain seizure, CU - of course you have posted on GKP but in haste I overlooked it because it was not on a side header like EMED, or XTR. My apologies.