Wednesday, April 26, 2006
Busiest day ever
On Monday, Invox, my most troublesome shareholding fell almost 20% to 50p to buy versus my original purchases at 82p and 93p. This is easily the largest decline I have ever suffered since beginning investing. Unusually, this large fall was not precipitated by a company profit warning or any other specific news but buy a SELL recommendation in a small-circulation tipsheet.
Invox remains forecast to make 17.5p profit per share this year and will probably report results in September.
To take advantage of this opportunity I sold 2000 shares in Fayrewood at 105p and bought more Invox at 49.5p.
Later in the day, NCipher shares fell back slightly, giving me the opportunity to buy at 233.5p, nicely below the entry price first suggested by my analysis.
Even after all of yesterday's excitement, SOCO went and topped all of that this morning with the announcement the oil explorer has found more black gold offshore Vietnam. This increases Soco's value considerably and the shares have pushed their way higher this morning to pass 1600p at one stage versus my 869p purchase price in March. SOCO has more than made up for Invox's suffering. But Invox remains extremely cheap and I expect the company will start to make a positive contribution later in the year - that's the plan anyway.
The Artful Dodger
Invox remains forecast to make 17.5p profit per share this year and will probably report results in September.
To take advantage of this opportunity I sold 2000 shares in Fayrewood at 105p and bought more Invox at 49.5p.
Later in the day, NCipher shares fell back slightly, giving me the opportunity to buy at 233.5p, nicely below the entry price first suggested by my analysis.
Even after all of yesterday's excitement, SOCO went and topped all of that this morning with the announcement the oil explorer has found more black gold offshore Vietnam. This increases Soco's value considerably and the shares have pushed their way higher this morning to pass 1600p at one stage versus my 869p purchase price in March. SOCO has more than made up for Invox's suffering. But Invox remains extremely cheap and I expect the company will start to make a positive contribution later in the year - that's the plan anyway.
The Artful Dodger
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