With world markets having stuttered in the past week, I chose to step aside, and will likely stay in cash for several more days yet. There is no knowing whether the turbulence we've just seen is a brief interruption of the upward trend that has been running for several years - or the beginnings of the end of it. Plenty of analysts and others do have an opinion. Some of them will be right, some will be wrong. I am in no rush to dive back in prematurely.
About Me
- StanWellaway
- I never made serious money while working for various employers. So I wasn't giving up much when several years ago I opted to go it alone and trade shares for a living instead. I favour mid-market UK stocks, mainly in the £50m to £750m range. I combine conventional sharetrading (buying and selling via an online broker) with spreadbetting on share price movements. Much of my share trading occurs within a self-select ISA account, where gains are shielded from tax. I mostly avoid exploration stocks (oil/gas/mines) and biotechs. I also avoid the very bottom end of pennyshareland, and rarely deal in FTSE-100 stocks.--------------------------------------- UPDATED 17 years later(!). Old enough to collect a pension - so the stockmarket sharedealing is now a hobby; one that makes me a useful extra income but without any pressure. I no longer trade shares for real but instead I work entirely with spreadbets, which I find to be really convenient.
5 comments:
More than twenty fund managers hold stakes in Tanfield. Some will have been in for some time and I guess might have taken last week's market turbulence as an appropriate time to bank some of their hefty gains. So I won't be surprised to see a few announcements to that effect.
I forgot I had this blog. Time for an update. A year later, those Tanfield shares which had risen so far so fast did take a bashing. It didn't lose me any money, because I stepped aside. But I do trade via brief upbets on it now and then.
Stockmarkets generally have been messy in recent months - lots of investors and traders have come unstuck and lost money. I am still hanging in there - dipping into opportunities that present themselves - often for only days (sometimes hours) at a time, and hastily stepping aside into cash when things get hairy. Tanfield (TAN) is due to publish its Annual Results (for 2007) very soon, and is also going to be at the huge Commercial Vehicles Show at the NEC in mid-April - so I do expect its share price to move up from the lowly 90p level where it has been bobbing along lately. I am poised to shovel money into it if it does so.
The UK chancellor's Budget Speech yesterday appeared to include nothing that made any difference to my investment and trading.
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