Some decent gains may see the end of the week's turbulence

Pitstips spreads were up today but earlier there looked to be more doom and gloom in the air. The first half an hour of trading saw a swing in my favour of around £30 only for all that good work to get wiped out and overall profit to fall from yesterday's +£217 to around +£189. Much was red. However, a strongish afternoon session which may have tied into the starting of the US exchanges saw my spreads reach a profit of £247. Equity is £12 short of £600.

Laird, Ocado and Premier Oil all made some decent moves. Premier Oil must go on from here now as this is one that I've backed quite heavily. If it hits Monday's high of 388, then I see it taking off from there, so tomorrow is quite a key day. I also have my eye on a few more to add to my spread list.

Cineworld and Moneysupermarket are both in my sights. And I have put opening positions on both. Cineworld is set at 274.39, whilst Moneysupermarket is good to go at 204.77. 

Pitstips - Finance

Well it could have been a hell of a lot worse. The net result from today's trading is a loss of 65 quid. This last four or five days I'm become accustomed to these almost heart attack inducing falls in my tips. At one point, my selections were sitting on a profit of almost £500 and equity of in excess of £700. That has shrivelled as first the AAA credit rating of Britain was reduced and then yesterday, instability in Italy had a dramatic affect on trade.

Both pre-bell days saw dramatic falls and at one point Pits Tips was looking at a loss of near enough £140. So, since that moment it's fair to say that the portfolio has levelled somewhat. At the bell today Pits Tips was up £212 with equity of £553. I need a good day tomorrow though to see the tips surge towards the £300 profit mark. Don't forget this figure would have been higher has the close position not triggered to close out Eurasian Natural Resources.