A good week for the portfolio last week – a 2% rise. Market conditions seem pretty optimal to me at the moment. The FTSE has benefited from a surge in the oil price over the last month and a fall in the Pound against the Dollar. Quite a few shares on my watchlist seem to be breaking out or about to break out. There seems to be a healthy degree of scepticism in the media at the moment about how much further the market can continue to rise. Hopefully this should mean there is cash on the sidelines to provide the fuel for another leg up over the second half of the year.
I’m a little late updating on a couple of trades from the week before last. To keep my record complete I’ll update on them briefly here:
I sold out of Euronext in advance of its results. I was looking through its previous news statements the day before results and noticed that it had recently updated declining trading volumes for the last month. This didn’t seem like too much to worry about, but anticipating a possibly negative reaction, I decided to play it safe and sell out. This was possibly an over-reaction but seems to have worked out so far.
I also bought a new position in Accesso Technologies, in advance of its AGM statement, as the price seemed primed to break out to new highs. This did indeed happen after a pretty bullish statement. I’ve written about Accesso fairly recently, so won’t do so again here. I am very encouraged with the growth potential here.