Results tagged “Hold” from My Trading Diary
Electra Private Equity - historical price low 22.10, stochastic followed and price rise today 23.10. Price can be quite stable over a day but since its sell off price more range. Steady climb today. No recent gapping. Could it continue that climb tomorrow? All buyers in the queue, not a single seller! Closing price was £9.90 whereas prices prior were up to £9.60. At £9.90 not convinced this share has much legs left at this time. Seems buyers are willing to increase their offers to attract sellers. Will watch for learning. If buy only up to £9.70. Equity Investment Instruments.
Legal & General - the share I lost £170 on Wednesday on! Crossed a stochastic today. Made steady progress this afternoon having plunged in the morning. Loss before was because I bought too high. If buy here up to 68p. Some big buyers in mid-sixties, no sellers after mid-seventies. Share price tends to move slowly.
Euromoney Institutional Investor - another share trading at all time lows. Stochastic today though lower down -upward movement, reverse may still be a few days away. Movement over a day can be small but last three have seen greater movement due to selling, buying to counter this could also scope. No sellers in the queue and buyers up to £2.39. Buy up to £2.44. Media. Bought at about £2.30 - very little volume. Will hold over weekend as only open position. Price closed at £2.30 with no buyers in the queue.
WH Smith - Meets criteria and posted good results today. Marginal buy pressure in queue. Price floated in mid 340's today - would need to get to about mid 350's to realise my requirement which is an area it usually trades above. Would need to get out of Afren before purchasing.
Afren - was ranked about 2700 for the day - having lost over 18% - leaving aside how I managed the entry and exit it is quite a knock for my stock-picking formula. Decision tomorrow is even if recovers not likely to be by 6% plus - at least if break even or lose a hundred or so...thus need price to get to .58 - may take the afternoon to do that. Have two open positions? Will ensure am there at the market open as that could offer opportunities of recovery too. As per previous Afren post the issue is less about my stock picking formula and solely about the price I purchased at - had I paid attention to yesterdays prices I would have seen the 3% requirement had in fact been achieved due to gapping overnight which holds up my selections but means I should not have purchased the share. Either looked for an alternative or taken the day off which I was in a position to do.
Xstrata - continued sell pressure though end of day was buy pressure but that could just be end of day effects. Less trading volume than day before and share price declined. I would need the price to reach about 18.41 Friday to justify holding the share another trading day. Noted big aftermarket buy orders down at 16.00 - with expectation of increase? Though I would not have been aware of this when making decision about 2.30pm. Price was 18+ on 1.10 so could return Friday. A number of orders have been placed low but equally a lot of high sell orders. Currently more buy orders so to get them filled they will ultimately need to raise their offers.
The decline in price is backed up by the sell pressure which is at odds with my TA. I cannot dismiss the TA in itself but it is becoming more regular - I am wondering if some of the signals such as Stochastic are more for trend and in terms of next day I need to focus further up (20-30) where buying is underway? Test this out. Decision is to hold share to sell out by recovering commission - so wait for price to recover to about 17.45. If not then will have to take some loss but less than stop loss. If there is sustained buy pressure I will stick with it if it rises about this level but will sell as soon as drops again. Will also look to purchase another stock.
HBOS - noted decline in trading volume 2.10 yet biggest climbing share of the day. Stochastic buy signal triggered and released! Closing price 1.70. Buy as low as 1.63 - concern any price lower may not recover on the day. Only need about 5p profit per share to make percentage requirement. Will watch buy and sell pressures to determine best exit point. End of day pressure is downward but would need to see situation around 9.00am after the end and start of day frenzies have subsided.
