How time flies!

Monday, 5th April 2010 20:39 - by Boredmum

There is a saying of ‘How time flies when you’re having fun’. Well, I have now been writing my Blog on lse.co.uk for a year, my first one being published on 1st April 2009. I’m not entirely sure about the ‘fun’ part, but there is definitely an element of truth in the saying. We all know how stressful the stock market can be. There is a lot of uncertainty and, to an extent, worry that goes with ‘risking’ your money in order to make some more. The truth is that if there wasn’t some fun along the way then it wouldn’t be worthwhile. I spoke last week of my boredom, or as the Member called Herring referred to it as my ‘itchy trading feet’. Well, this week was entirely different and – yes - it was fun. My commiserations in advance to anyone involved in Desire Petroleum (TIDM code: DES) or Solo Oil (TIDM code: SOLO) as they plug and abandon (P&A) wells. I personally wasn’t a holder at this particular time, but I did have a little fun this week in trading them; 4 times in and out of DES and once in SOLO. There has to be something said about catching a P&A as the fall is usually overdone, with a slight bounce thereafter. I didn’t trade these for much, just a few points to grab £40-£50 each time. I’m sure I worked out that if I’d held my nerve I could have taken about £300-£400 on DES and over £100 on SOLO, but I was very much a nervous trader, in and out very quickly as I didn’t want to be left holding them or risk a loss. I managed to have a couple of other successful trades in shares that I had only bought into within the week - like Shanta Gold (TIDM code: SHG) and Eatonfield (TIDM code: EFD). So, all-in-all, my trading was fun this week. I made a nice bit of money, just a pity it was overshadowed by falls in some of my other holdings such as Maghreb Minerals (TIDM code: MMS), Pentagon Protection (TIDM code: PPR), and then an unsuccessful trade in INVU (TIDM code: INVU). I think it is fair to say that time does fly when having fun. I was lucky this week with some trading opportunities, but they don’t usually come along in such quick succession.