Just three days ago Pitstips was sitting pretty with a profit of almost £400. Today has been a catastrophe only helped by a decent last couple of hours of trading.
News from the US wasn't good first thing after news from the Federal Reserve put a dent in the opening prices. Immediately Eurasian Natural Resources hit my stop limit which I've really pissed off about. At its worst today it was down around 25 points, at its height Eurasian alone was going over the £100 mark. I had to take a profit of around £50.
The introduction of Premier Oil, Qinetiq and SIG couldn't have happened at a worst time really as I opted for £2/p. Everything took a hit basically apart from Mytrah ironically who is now entering profit territory. Aberdeen was a faller, trading lower by 16 points. Vodafone is also beginning to vex me. Down £30 as I type. This has been thrown a downward couple of days though and hopefully there will be some takers going through next week.
When all is said and done, I suppose at least the share prices were curbed although there was great pressure on the stop limits around midday. We're up £220 with equity of £561. The Eurasian thing has really pissed me off though and finished only 10pts down. If it plummets to hell in the next week then it will at least take the sting out of it.
I've learned a valuable lesson today though in terms of share volatility based on government announcements. I have sailed close to the wind with some stop limits and it was borne out today that they shouldn't be set too near.
Hopefully we can get something out of tomorrow. The FTSE 100 fell by 103pts and the FTSE 250 an astounding 185pts, where most of my portfolio is based. A hard day.
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