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Had some buys as well this morning. Looks like Iran are sat on their hands according to sky news.
Feel a bit like nick though! But I downside v upside v macro means time to average back in. I use time as well as price.
GLA
Usual caveats
Trek
RBC raises price target to 615p from 600p.
Been adding over the last few days.
Final tranche this morning & very much overweight.
Maybe just let the divis do it for you twice a year Nick and take the stress out of it. Wish it was four times a year thou for the same amount, make life easier for sure.
Used to buy a 1000 shares each time they drop in stages of 10p, now I wait till they drop 20p, this in these troubled times now seems to be the norm
Deepjoy,
Agree - apologies. I shouldn’t rise to it.
Trek
I have held PHOENIX for more years than I care to think about and based purely on cost is my second largest UK holding. The current analyst "consensus" target share price is 600p. The last time PHOENIX hit the analyst target, 784p, was 24 November 2020. It has been a pretty steady and sustained decline since then. Book value per share was £8.92 Dec 2020, down to £2.99 Dec 2023. 5.25% interest rates are not an abnormality, it was the years of 0.25% that were abnormal and unsustainable.
Holding for that dazzling dividend can prove to be an expensive occupation.
AceOfClubs
Trek, I have previously said 'each to their own' about you which I stand by, however, this board is about PHNX the company and not about trading strategies all the time. If I wanted to read that I'd simple go to the AIM rubbish stocks and read that style of posts. It is a shame you feel the desire to justify everything you do or do not so.
Phnx as a company has been around a very long time with a good pedigree, decent free cash flow and a great yield. I am down short term but remain relaxed as I know it is just a matter of holding for a few years and watching the power of compounding give me (hopefully) a very decent return. There is another way of protecting capital and that is investing in great companies or funds and riding the waves, all about timescales. Your way is your way, but others do things differently what matters is the health and potential of the company, which, in my view remains sound as my pound. GLA
Hi Abjectperformer,
I view PHNX as a solid long term hold. I was spooked by the ME and gathered the SP may drop due to political uncertainties and inflation proving sticky.
I fully intend to use this opportunity to build back up my position in the stock hopefully ahead of the next run up for the Sept divi. I had a significant part of my pension invested so have to be cautious when balancing income and protecting one’s capital.
I am a buyer below 480 but I often trade a few where I think there is an opportunity even if my long term view is hold. I don’t get them all right but do my best.
GG you were right with ‘few’ to a ‘load’ but I made other trades and don’t post everything. I actually went to 100% out, rare for me, and got stopped out yesterday on the ones I bought. Made a tad under £400 but that wasn’t the point. The point was to not loose money hence I used a stop. I have buys set again for today. Not to many as I want to see what the weekend brings.
I hope that The West are putting huge pressure on Israel for peace and not to react.
I use funds between dividends to pick up what I view as hot stocks. Or use divi income to invest in stocks which I think will do well but I then usually sell them. I bought SHG at 9p, sold them at around 13.5p from memory. I didn’t wait for the final offer as I saw another opportunity in PAF at 17p which I still hold. I also bought ECOR at 76p. Have sold the last there at 86p even though I think they will go to 100p.
Sold ECOR to buy HEX which I am down on atm. But I have only put in a third of my position. HEX is a rare opportunity and I have a trading calendar so I know the cost pivots and fully expect to get a free carry there which will enable me to take my stake out and reinvest for income.
TRR looks a solid play, look at the director buys. It hasn’t moved yet though as needs the next set of results. I hope slice some on news.
There are many ways to make a living out of this. I have been doing so now for 7 years self funded from a relatively small pot having been extremely lucky during Covid with serval multibaggers which afforded me the opportunity to build an income fund.
But I have to protect the capitol. Like I say…
Rule 1 of investing, protect your capitol.
Rule 2 see rule 1.
It’s served me ok on DEC has it not GG? Perhaps folk should have a peak at your posting history and see how you spend most of you life in a boiler room bashing one stock. I am glad I have given you something else to think about. Perhaps you can use your skills to help others.
HEX is a free tip for you. Pretty much guarantee you will make 100% by the end of the year. Many folk don’t trade and I get that. It’s one that you can buy and hold and sell at least some before the drill. But if you are hold you have to be prepared to stomach 8p or 15p. Then take profits before the drill.
GL
Usual caveats
Trek
Strange investing strategy, too, from Trek Baloney, selling an 11% yielding share for an unproven newcomer with zero dividend, and zero dividend potential for the foreseeable future. I guess he's relying on his much vaunted luck to come good for him. Looks to be on a loser at the moment though.
I have found treks posts helpful.
However a few weeks ago he was advocating to buy and hold long term, but now I read posts where he is actively trading and transferring funds away from here.
That is disappointing to read.
'...“ I sold some yesterday. Only because I found TRR and needed some funds to build a position there. Still got majority in here though.‘...'
'...But also took a load out at around 5:56 To buy TRR as posted before...'
Trek Baloney, you can't even get your story straight in the same post. Did you sell 'some' or did you sell 'a load' ? Yeah, it's fascinating, reading your BS over time, lol.
In 2023 alone, Barclays issued 'analysis' for Phoenix on 14/02, 07/09, and 29/09. So, it's a timeframe of their choosing, lol.
Don't worry about it, there was a lot of director buying around this level some time ago and they know a lot more about their business than an analyst at Barclays.
Posted 9th April 08:39, SP was 5:57.
“ I sold some yesterday. Only because I found TRR and needed some funds to build a position there. Still got majority in here though.‘
Don’t know what I got for the sale CBA’d to look back. Got lucky with that one.
Since then ME crisis meant change in tactics.
Just looked on ii last trades got stopped out on the pullback today. Only made a little. Will reset to start again from 578 down. Like I have posted here before it’s easier to trade a stock you don’t mind holding. Esp with 11% well covered yield! Takes the pressure off.
I had a sizeable pot here. Have always traded some and held some esp when vix is high.
Claimed divi on some and sold them on xd day. But also took a load out at around 5:56 To buy TRR as posted before.
Looks like you are my number one follow GG. Must tell the kids I have ‘a like!’ lol!
Still can’t beat being lucky! But more so never ride it!
Usual caveats
Trek
Broker forecasts from my understanding are for a 12 month period from when they are made what is really worrying for me is that after the initial fall on the day Barclays forecast came out it has carried on falling on subsequent days
On the subject of broker recommendations, I think you need to ask yourself one important question : Is this 'target' price what they anticipate it to be on Monday, at the end of August, at the beginning of December, or a year from the recommendation issue date ? Unless you can answer that question, the recommendation is meaningless.
Barclays downgrade 500p current price 480p i will settle for 500p now as it would take a rise of 4 per cent to get to that and it seems there is a lot of downward pressure on the share price now
'...Timing is everything lol! Got this one on pretty much on the nose with the last 5 trades!...'
REALLY ? Trek Baloney, I took a look at your posts pre- and post- ex-dividend date. I think you're mis-remembering your recent history. Or you're just a liar.
'...the crap they are sitting on if they need to mark to market is horrific...'
I don't think you understand what you're talking about, Porch. Phoenix has to 'mark to market' its' assets and liabilities every day, IT'S THE LAW. LOL. So, it's all out there, nothing hidden, even the 'horrific' et al.
Cobblers
Trek Baloney - '...Also had a cracking run on PHNX, bagging the divi selling down and winning on the last 4 trades ready to sell again now! Posted them over there...'
Surprised you see bagging the Phoenix circa 27p divi as a 'win' when you could have sold Phnx at any time in the fortnight or so (circa 540 - 550p) leading up to ex-divi date then bought back any time in the week or so since for a 50p+ discount (circa 480p - 508p)on the pre-div share price.
Maybe you're not the genius you credit yourself with being ?
Timing is everything lol! Got this one on pretty much on the nose with the last 5 trades!
Also bought SEPL yesterday, went in big, for me! 3 lots of divi due soon and chance of divestment!
Can’t beat a bit of luck in this game!
Trek
Well, it did jump up. I may have to hold my fire for just now. LOL
Except most of it's not mark to market.
Noises emitted by crying shorters...
“ Time for me to buy back. Hope that the SP won't jump up too soon tomorrow morning”
My thoughts exactly, being in cash with these I bought on the close at 479 today. Expecting a bounce tomorrow from a technical oversold position and based on the ‘MNG lag’.
Don’t worry though doesn’t change my view as I will be selling again. Just gotta make sure to clear the taxes and spread then hopefully a good profit to add to the trading pot!
If I am the wrong side I don’t mind averaging down from here is my long term view is buy. Lots of opportunities here when the volatility is high!
But timing is everything!
Usual caveats
Trek