BlueBay Asset Management, Mapeley, Halfords, Greggs
BlueBay Asset Management - price gapped down overnight and price now in mid 170's. Thought could be to do with macro-environment and indeed US and Asian stockmarkets fell - indeed plunged - and clearly this pattern is being repeated by the FTSE. Need to be mindful of this. Could take as opportunity of buy on Thursday sell on Friday? Risky strategy. Watch. Do not buy.
Mapeley - as above. Price fell into low £6's. Not many sellers at this point - buy? Buy pressure and meeting a wide spread - buying at spread realises my PR! The spread is about 5%! In such a situation I could look for this margin but also simply offer my 3% e.g. offer higher which also increases likelihood of being sold. However as I am paper trading this I cannot replicate that effect so will just watch at this lowest offer. Bought against spread - of course that has caused the price to drop but still no sellers at this level. I have purchased low based on both recent and historical. As I have made my money on the week I am prepared to keep hold of this share for a longer period as future positions allow. Price rose sharply - pattern of little activity followed by big jumps - revised trailing stop has locked in profit. Noting that all sell offers currently appear then disappear but no change in price. Price declined end of day and triggered my revised stop loss - cleared 9%! That is three days requirement in one transaction :)
Halfords - shared gapped down then need realise 3% quickly but whilst I was sleeping! Also it was brief and I might not have been able to react quickly enough even had I seen it. Price now dropped back to low £2.30's. Sell pressure in queue. These signs are saying 'Keep away'?! Kept away!
Greggs - also gapped down before recovering - my PR was in there - a case for being up at the opening bell? More buy pressure than sell but buy offers are cheeky low. All prices are below what I was prepared to ask! Price has recovered most of the gap so on a bearish day is there much extra gain left? Huge spread - most sell prices are much higher than price and close to my maximum buy. I should guard against buying any share close to my maximum on such a bearish day. Do not buy.
This will be a learning experience. Will any of these shares realise my PR's on a day like this. Is it best to si it out? Yes, better to make nothing then lose something.
An excellent and illuminating trading day for me and in the context of a free-falling FTSE.
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