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Looks like fall in share price today is read over from CMC interim results.
Well, at least there is a dividend paid here which just about makes me in profit in the time I have invested here. I had hoped we would break 800p again and if slowly head North again. That may take a while longer. Not sure how much we can be tarred with the same brush as CMC.
Glad I am not invested in the market as I once was when much of my day was spent worrying what was happening rather than make the most of my time and being more concerned about what truly matters.
GLA
Regards
CM
Hello BT
How are you doing my friend?. Glad to see you are still posting. I am still around and just occasionally look in on this board to see what is going on and what news there is. I am very much on the sidelines these days. I only have the one investment, IGG. That is rather like GBG in its' movements. At times they seem to be neck and neck, then one falls back, the other rises, then they change place. Sometimes they move in the same direction at the same time, although neither has an effect on the other.
I spend far less time looking at shares these days. In hindsight I realise I spent far too much time in the past and wasted valuable time which should have been spent on other much more important things, like life generally. I got too absorbed in it all. As I have got "less young" my priorities have changed. I have become more settled, my financial position has improved with a small private pension, not paying into the pension scheme and having no mortgage and so I feel there is less need to go chasing rainbows!. I now have 2 young females in my life to look after too.....2 4 legged furry faces of the feline brand!.......something to come home to. Bit like you with the not so puppy puppies I guess.
I see Mrs. BT is keeping you in order..........and in jobs......no change there!. I expect everything is sorted now re the house etc.
RR is still hanging in there. She remembers the races of many years ago but doesn't jump anymore. In fact if she were to see a fence in front of her she wouldn't recognise it for what it was........doesn't always recognise me these days. Some may argue that is no bad thing!. Sad fact of getting older but at least she is being looked after now in the home.
The stock market is a strange old thing. Some things never change - companies share price can be hit after good results, some can rise on the mere hint of good news, some share prices are sheer speculative madness. I have little idea where the market is going - quite possibly sideways. Doesn't appear on the face of it to be much good news to drive it forward, potentially bad news to drive it down - ie debt ceiling needing to be raised in the US but the usual partisan arguments up to the last minute. Shortage of truck drivers affecting deliveries of all sorts leading to shortages leading to higher prices, danger of inflation, may lead to higher interest rates, higher NI contributions, less spending money etc. etc. Continued fall out from Brexit. Then we have a PM who in front of the United Nations (was it?) who quotes Kermit the bleeding frog for Gods' sake!......how embarrassing is that!. Most of them probably don't know who Kermit was!. Well Boris he was a stuffed toy puppet!.......bit like yourself mate, you even look like one!. One muppet in charge of many. Heaven help us. I suppose we get what we voted for (although I didn't).
Good luck all and regards
CM
Jan 28 share price was 904p should read Jan 20.
Agree with your earlier comments Tom. Couldn't put it better myself. When the share price falls it doesn't just trip it stumbles and falls. Jan 28 the share price was 904 p, by Jan 28 it had fallen to 749p, then by Apr 16 it was 950p. A history of slow rises and steep, sudden falls. Rinse and repeat. The stock market gives with one hand and takes back with two hands. IGG are/were confident to keep their dividend. Expect a fall of around 30p come 23 September on ex divi date.
Good luck all. Still holding here
CM
Share price fall today is related to trading update by CMC, down 27% in early trading, due to trading being subdued. See CMC RNS for report. Hold onto your hats. We've had a reasonably good run of late.
CM
Thanks for the post.
You are absolutely right in what you say. One thing i/we should remember is that it is never a good idea to make a decision to buy sell when we are at that particular moment emotional or not in a good state of mind. That often leads to a poor decision. I have read that a number of times in the Naked Trader books and articles, and he is so right. Yesterday, for whatever reason(s) I just had one of those moments when I should have just relaxed more and contemplated.
I haven't really looked at moving averages much at all for a long time. I use to spend a lot of time looking at different sites such as BritishBulls and BarChart??, which suggest which way the share is heading. I have looked at candlestick charts and bollinger bands, which I do understand but I just haven't got the will to spend so much time on them these days. Think cc and bb helped at times.
I have kept an eye on the share price during the day and had a twitch of "perhaps" buying back in late on in the day when the share price retreated to close to 300p. I will do a little more thinking and see how it pans out tomorrow morning.
Good luck all.
CM
Thanks for that.
I did have an opportunity to buy back in sub 298 this morning after it had opened higher, so waited to see if it would fall further, which of course it hasn't. Now back up, which is good for those of you still invested. Perhaps it was a rush of blood to the head and a case of shaky finger syndrome, pushed the sell button rather than go out and get some air and think more about it. I'll wait and see what happens. I haven't lost a great deal since I didn't have too many shares. But un-nerving see it fall by so much over a week or two. Perhaps I should just retire from this share investment jobbie; I have done it for long enough.
Good luck all
CM
Appreciate your thoughts.
I am not a novice investor; overall, I have made profit on my share dealings; but not of the last year when I re-entered the market after over a year out. Since then I have either bought into the wrong stocks or got my timing wrong. And yes, my time horizons should be longer. Still, it is what it is and I will see what happens. Share price is off its' bottom for today, so far. If I buy back in now with the same holdings as I had it will have cost me £50.
And of course what is a lot of money to one investor is peanuts to another.
Oh, and 5 years, that seems a long time to me at my (not so young anymore) age. I prefer to look 12 months to 3 years perhaps. Having said that I will run profits and will consider averaging up rather than averaging down. Too much time to look at the screen whilst being furloughed perhaps. Maybe SUMO is a hard one to trade with a short time horizon.
Cheers
CM
You may be right and have stayed invested; but we all have to make the decision we think is right at the time. Who knows, perhaps I should have bought rather than have sold.
The price has dropped more since I sold but is now back up some. Has the low been reached for today, or will the US market push it down more..........or up?.
I am always open to reconsider my trades.
Just a bit of a bummer..........
CM
Decided to cut my losses here. Just a week or so ago with the share price high in the 300s all looked rosey. But it has been crashing. If I have paniced then I should have paniced earlier. Dare say the price will now go back up. We all have to do what we think is right at the time, different circumstances for different folk.
Should have reviewed a stop loss when at a high price to lock in some gains, not take a loss. Such is life. Who know which way the market is going?. Win some, lose some.
Will I be back, don't know. But good luck all.
CM
Thanks for that. I would have liked to see it have bounced way before now, but don't know what the chances are.
Thechukkers, buy price is a tad over 300p right now.
What are other gaming companies doing today I wonder?
CM
Thanks for your thoughts. You echoed much of what I was thinking.
Personally Thechukkers, I hope we don't see the share price fall below 300p. My buy in price was around 313-315p but after an initial rise today I see the price is falling back again. Not too much invested here, relatively speaking but disappointed over the recent week or two. And yes, I realise markets can fall as well as rise.
Trading update is due end of next month. I would like to think there will be some good news before then.
CM
Sorry, try the following, typo mistake
https://www.shiftingshares.com/ig-announces-100-margin-requirements-on-1000-stocks/
CM
Came across this yesterday evening:
shiftingshares.com/ig-announces-100-margins-requirements-on-1999-stocks/
gives a better picture of things.
Lets hope for a better day and that the dust settles.
gla
CM
Any thoughts on the recent move South in share price from anyone?. Over valuation?, interest in SUMO as a take over target decreased (if there ever was any) after Codemasters takeover finalised?.
Just interested in views.
CM
Naked trader buys on 29 January at 752p. Below is taken from his latest trading diary 12 February:
"With all this sudden stock market gambling the spreadbetting firms are all doing
rather well. So much action and trading is going on IG even had to stop taking
new accounts temporarily. And its systems were under so much trading pressure
it went down a couple of times.
Someone from a SB company who answered questions from my delegates at last
week's zoom seminar confirmed they were ultra busy.
So I picked up both IG and CMC shares. CMC possibly looks better value.
Downside of buying SB firms? Possible sudden regulatory action."
A little disappointed personally in what has happened over the last few weeks, but not surprised the share price didn't hold above 900p. Where to from here though. This could just be short term turbulence. Markets are twitchy right now and we all know markets can go down as well as up.
Some concern in the economic news about interest rates. Personally I can't see them rising by anything significant to be a real threat as to what folk should do with their spare money, ie invest in shares or put it in the bank to earn interest...what interest?. I think the market will settle once the concern over margins settles. Never good time when shares going down in price.
Interested in others views.
CM
Should have said "share fall by the same amount as the dividend".
CM
Bear in mind that today is ex divi date so we can expect a share fall by the same amount of the share price to be factored in, ie over 12p. Does that help anyone?...........err....hmm.
CM
Jonfon, not only has the acquisition had a (temporary (he hopes)) set back to the share price but much of the market is taking a bit of a kicking too on top of that. Yes, the share price will continue to drop or can continue to drop in the meantime. I think the fall now is beyond the acquisition effect, more market generally. If we can think longer term it helps and also not having over invested. Too easy to think "if only I had sold at £9", unfortunately we don't have a crystal ball. No doubt there will be many saying "be greedy when others are f earful" and indeed this maybe a buying opportunity, but not for me at present; I will at least hold for the time being.
CM
Forgive my ignorance, but what is a Robin Hood trader?.
I am not too surprised this has fallen back to this level; just wish I had thought about it more on the day of the RNS. I am thinking this will rise again, just not sure from what level. My best guess, fwtw, would have been from about here. But, we'll see. Not too much skin in here, but not good watching all the same.
CM