03 Apr | Gold, Supergroup, Lavendon, Archipelago and Avocet
It seems like an age since I’ve put index fingers to keyboard and tapped out a bit of an update. It’s not as though I haven’t had a dabble on the markets here and there, it’s just that I’ve been a little preoccupied with some of our other web ventures. But more on that in a later post.
We dipped back into gold long at $5 per point at $1609 an ounce back in mid February. Since then – with a tug-of-war as China, Russia, et al. stockpile the stuff and fund managers offload it – it’s traded in a range between about $1560 and $1610 an ounce. I’ll be looking to offload at or around $1670 an ounce. We’re not trading sheep stations (not that we ever have) but I’ve opted to neglect placing a stop this time around. With gold’s short-term volatility and my long-term optimism in the yellow metal, it’s no use getting stopped out by one of the many frequent intermittent dips. When you don’t get too greedy and go too hard you can ride them out and wait patiently for the upside. Well, that’s the plan.
We upped our spread bet long on Supergroup to £4 a point. We spoke about Supergroup earlier in the year, its most recent Interims and its corresponding price rise to 12 month highs. We’re averaged in around 620 pence a point and although the recent highs of 725 pence now seem a long way off (currently it trades at 635 pence) I noticed today Investec have initiated coverage with a 843 pence price target. That’d be nice.
In March we took a profit on Lavendon Group, a very modest profit on Archipelago Resources and we’ve also been in and out of Avocet Mining for a small gain in the week leading up to their full year results – a short term investment method I’ll be on the lookout to take advantage off if the circumstances warrant, more and more going forward.
We’ve also upped our stake in an old Investor Trader favourite and bought in on a speculative tech company but more on that next time. Thanks again for dropping by.