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A hairy old ride on the markets!

Published: 19:00 06 Nov 2008 EST

no_picture_pai

Goodness me it continues to be a hairy old ride on the markets. Right now it's easy to leave the screen with all your shares doing nicely, pop and have some tea and toast and a read of the paper and come back to find them all down!
 
 It is always risky these days buying a company close to a statement but I bought Celsis (CEL) this morning, 2,000 shares at 149.4. I've noticed some nice buying coming in ahead of Wednesday's statement so fingers are crossed. I guess if it continues to rise and was nicely up on Tuesday I could be tempted to take profits. I just don't know and I'll wait and see. Target 180 stop 130.
 
I really just had to take some of the massive profits that I've been sitting with on some of the recent buys. New Brit couldn't break 250 and started to come back fast and I managed to take profits well off highs but not bad - at 225 and 220 for nice profit of £1,367. I would reckon there's another good trade in there coming soon.
 
Elementis just couldn't break that 60p barrier so sold at 58.1 for a profit of £331.
 
This could be a really poor sell however I sold Dmatek at 147p for a profit of £560. Been waiting for news of a bid here but it's been a while now so I took profits. I do think it's a cracking company though and actually if the bid falls through I'll be a buyer. So watch for news of the bid at 180 on Monday!
 
I sold part of my Charter holding at 417.2 to bank a very tidy profit of £810 while keeping the other position open. Sometimes it's a good idea to sell half of a position so at least some profits are banked and the rest can be left to run in case it goes up some more.
 
A good run from Wood Group again I didn't sell anywhere the top but got 229 for a profit of £863 and I sold the other Fenner at 109.5 for a  profit of £420. Just awaiting to buy that back as it's dropped a bit and looks good value.     
 
All that profit taking is a very nice profit of £4,351 for the site which I am very pleased with in this kind of market.
 
Elsewhere a great rise from BTG after a statement today puts me into an excellent profit there - I was tempted to take it but it's been very strong today so holding on.
 
Telecom Plus remains solid as a rock in weak markets - and if you think that interest rates have been slashed I am more than happy to be earning 5% and more probably as I expect the dividend to be raised in its statement in a couple of weeks.
 
Ms International (MSI)  has seen a good steady rise which is good news ahead of an announcement later this month and now sitting in profits of near 15%. Be good to see it back at at least the 170 level.
 
Redhall held well against a weak market yesterday as it continues to recover and I suspect it could be a big star next year.
 
The profit in PV Crystalox is excellent and vaguely considering taking the profit there.
 
 Cineworld has quietly marched higher - perhaps shaken, rather than stirred...
 
All in all I'm thrilled with the profits over the last couple of weeks. And although I didn't take any of them near the top that never bothers me. Because I don't mind losing a few points to check that there wasn't more on the way and over time it works in my favour.
 
As I write the markets seem finely balanced and haven't quite decided about all the interest rate rises and whether it's good or bad news. It could quite easily tank or rise! Anyone got a time machine they could lend me?
 
I'm trying to stay in a correct balance of good holds, profit taking, and cash during this tricky time. Stop losses have also never been so important and I hope to adhere to all mine.
 

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