Petrofac Ltd, Dragon Oil PLC
Petrofac Ltd - sold for profit £75.48 - a profit I could live on but only because of the cost of the share as in percentage terms did not make 3% would have needed to have reached £6.20 where high was £6.15.
This illustrates that even not achieving 3% there is a margin I could live on - about 1.5%? - however this particular buy may have been better tested against one extra indicator which this lacked - namely decline in volume with increase in price.
Fundamentals remain uncertain awaiting US Paulson market intervention plan - feel this could favour interim move towards Gold and other commodity related stocks. I also have my doubts about US taxpayers bailing out corporate mistakes and feel this is a plaster to the Global economy that won't hold.
Dragon Oil PLC - meets my indicators other than price looks volatile. Also Oil Mining and my Fundamental nose persuades me toward Gold related stocks. Decision will buy where stock is around £2.37.
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