Invest my £1000
What a week! Invest my £1000 has not got off to the best start. However, we do have until the last trading day before Christmas to double or even treble Keith’s money. Trebling the money seems such a long way off at this moment in time, but it’s just been a bad start, things will improve.
Although The Footsieblog advised in a previous posting to sell all stock, therefore The Footsieblog no longer has a portfolio (well we do its all in cash at the moment) one of the conditions for Invest my £1000 was the money must be invested in stock and not held in cash, that would be too easy.
Certain events have upset the stock markets around the world and we have experienced nothing but fall after fall at each open and close. Therefore, after the first week of the £1000 being invested in stock we had to make the decision, do we carry on with this or sell the stock as it hit the stop loss.
The day came, and my initial thoughts were to let the stop loss take care of it, if the stock went up, good. If not, the stop loss would ‘kick in’ and sell all of the stock. After thinking long and hard I did something that I would not recommend anyone to do when trading, especially in these conditions. I decided that if I let the stop loss sell the stock the £1000 would incur more dealing and tax costs, which frankly with £1000 we can do without. A point to note here, a trader must always preserve his or her capital at all costs!
The afternoon came and I turned the stop loss off! I then needed a drink! Once I had done that and studied all the pro’s and con’s of selling tomorrow or the day after. I decided to just hold the stock as it is.
So, today Wednesday 14th June Tullow Oil (TLW) remains a firm hold. I have been studying the chart this morning and although I am not a ‘chartist’ I do believe that the 300p mark is the very bottom this stock will go. If, it breaks the 300p mark we are in trouble (never mind I am going on holiday soon, more on that another time).
Tullow Oil (TLW) remains a firm hold today, so here are the results of the first week, some people may need a very strong drink before looking at the figures.
The stock today is down 1.38% at 303.75
The stock since the purchase is down a massive 18.2%.
The total amount since the purchase is down £182.00
The total amount in the pot to date is down to £818.00
Once the CPI data is out, things may settle down a little.
The reasons for holding Tullow Oil are the same as before (in a previous posting). We have had one hurricane over the oil rich platforms already, more will develop which will push the price of crude even further. Tullow overall, has NOT changed in the slightest, more well tests are due shortly and the company remains strong.
Fingers crossed for next week’s update! Im off to the gym!
Stop loss explained
