Member Info for psmith64

I have no intention of dying with cash in the bank Troublesome, don't worry about that.

I would say you are very brave to hold 90K shares, but good luck. If it does hit 1500p in the next 5 years you will be laughing, me too if it hits 400p with a decent order book as I will be back in then.

A nice lie in this morning as not market watching too much at the moment.

Still got a limit order in at 175p this morning Troublesome.

CuriouserandCuriouser...... a lot of reading has gone on since those dates and the only have to look via the WHO how things are going in reverse re Covid-19 around the world, especially in the USA which has the ability to affect our market here.

The Brexit newsflow is getting worse and that certainly has the ability to affect our market here.

What hasn't changed in my view is that cash will be king in these situations and shares like ITM at the moment have the ability to crystallise the best cash, profit.......... and lots of it for many, even those who have only been in one month - three months, profit that you would have been happy to make in 5 years years.

In times of uncertainty paper profits mean nothing, cash in the bank means everything, especially if you have a sniff that there is going to be some future opportunity.

As I said, you have to remain fluid and if you have written something in public and you change your mind it is only right to declare it.

Yes, sometime in the future there is potential for ITM to rocket but I want to see a full order book now and I would rather miss out on some interim profit and rejoin the party at 400p whenever that might be now. Other market forces dictate that won't be as I initially thought, two weeks is a long time in investment in very uncertain times.

Good luck to everyone, long term holders who got in for sub 20p as I did will not have anything to worry about, but I think there is a chance to cash in and buy back a lot cheaper.

My first gamble on doing that , and let's face it the stock market is a glorified casino, paid off nicely.

I didn't do it this time to make a quick buck as I did last month, but did it to crystallise the market and watch from the sidelines and at the moment I think that is sensible investment philosophy.

You have no clue whatsoever Seangler of how I have done over the years but I would never be shy to meet any fellow investors over a coffee and bring up my contract notes over the years.

I am very proud of my efforts as a private investor and have easily outshone the majority of fund managers the last 5 years greatly helped by my Hydrogen shares, construction and certain retailers.

I would never dis a fellow private investor without knowing the full story.

Yes dsc1978.....sold Persimmon a little before the EU referendum but bought back in after as it looked over sold, as did Taylor Wimpey.

I made some more for the two years after but sold out a little too early but was happy with the profit at the time.

I will look to buy back into Taylor Wimpey and Persimmon when I feel the time is right as I think there will be a better entry point in the coming months as I think it will be subject to a profit take as the Brexit mess unfolds over the coming weeks.

As I said we are all in different places as far as retirement goes and I can't afford to muck up on over the next couple of years.

If time was on my side I would be riding it as many are here. Its not a case of losing my nerve, if I was a nervy investor I wouldn't have bought into Hydrogen shares five years ago, its a case of being sensible and grateful of the profit made the last 5 years out of Hydrogen, and I am positive their will be more to come, but I want to see contracts awarded now and monitor cash burn or the prices to fall back with no news and re-enter in a bit more of a comfort zone for my situation.

Yes, but people just can't resist on what they might be missing out on.

I thought I was filtered from many on here because some can't handle a dose of realism, but they reply to my posts.

Yes dsc1978, eventually couldn't put up with ITM being a day traders play thing. Now looks like it was the right thing to do as they seem to be leaving now and we may actually get back to a true SP soon.

As the day has gone on I believe that will be nearer to 175p now if we get no specific ITM Power news.

So much news out there in general but we do need something ITM specific now, and it needs to be good.

I feel very lucky to have escaped with the fruits of the last five years from my Hydrogen punt safe guarded for the moment.

As I said on another post. You have to remain fluid. I read a lot, not just about Hydrogen, things can change very quickly regarding the short term.

I started off many years ago being a long term investor. Having a busy career and not having time to read and keep a daily eye on things , you hope you have got it right for the longer term.

Being semi-retired now , with full retirement on the horizon, you get more time to be a hands on investor.

I still recently had longer term investments of which ITM was one for just over 5 years, but the more I read, the more I feel it's best to hold cash at the moment.

I have done more reading the last month than ever and yes my mind has changed daily at times.

It's actually changed since earlier, I have revised my limit order to 175p, that was based on people not realising that it was in the public domain that the Shell project is losing money, you now try and back track on that.

You asked for the confirmation in one post and you now claim you knew.

That makes me wonder how many other people don't know that one of the biggest projects to date is loss making and since April 2020 the trading update confirmed a further cash burn of £ 2.5 million since the year end in little over a month, potentially meaning a cash call in the next 18 months if that doesn't slow down.

I trust you picked that up as well ?

It's actually quite frightening when you learn that investors don't take the time to read through information released by a company.

To be abused on another thread of posting information where I was accused of lying to de-ramp the ITM SP when I talked about the substantial losses incurred on the Shell largest PEM project as declared in the last trading update just goes to show how people just do not take the time to read important information.

Always read in full the information the company release. I know it can be wordy at times, but it's the only way to keep your finger on the pulse.

Pinball Wiz and Mark Bantam....

I suggest you read the last company trading update in full where ITM were quite open about the substantial losses incurred on the Shell project and I quote from the update released in June......

In closing out the legacy projects, the Company has realised a gross loss of £4.8m in the 2020 financial year, of which £3.5m is attributable to the world's largest PEM electrolyser system at the Wesseling Shell refinery through the Refhyne project in Germany.

I will of course await your apology Pinball Wiz

This is the downfall of many in not reading wordy updates, that was a major concern to me along with the major director sales.

To to be the bearer of bad news if you was lazy in reading the update in full, it was a lot of words and was not fully headlined at the top.

It's a fluid situation Troublesome, you have to be willing to change your view on a regular basis.

Yes today I have reviewed all available information and 225p is my buy back point should no new news be forthcoming.

We have all been so lucky with ITM. I looked back last night and when you do back to when Linde bought in at 40p and we got a quick rise into the mid 50p range, what really has changed here to get the SP to last week at 323p when I sold out ?

Nothing really as far as ITM is concerned, apart from the 2019 trading update saying there was over £ 400 million in the tender pipeline and here we are 12 months down the line with just over £ 4 million turnover and it's largest job at shell going seriously wrong financially.

Last week I think I come to my senses in taking the best ever investment profits in my lifetime on a few companies that have rocketed just like the Space Shuttles did in the past using its product. All companies that have yet to make a profit in a market that is going to be very competitive to secure work in the future.

Just how competitive ITM are remains to be seen and off the back of no major news I won't be buying back in unless we see 225p.

I would be much happier to buy back at 400p with a heavy order book and missing out on some profit.

In the meantime it's the safe territory of cash at the moment for me and the land of opportunity after the biggest carnage on the world markets I think we are going to see in the not too distant future now.

I am too close to 60 years old to be taking risks on my retirement. I have seen the effects in the past of a very close friend who got too ambitious near retirement only for the markets to crash and add 10 years to his eventual retirement date.

I have been a very confident and successful investor over the years and you learn all the time.

I now know I need to be a little more cautious in my position, that said everyone needs to be cautious at times.

There is a fine line between being brave in investment and stupid, I seriously believe very soon a lot of people are going to be caught out.

We are in totally new territory with Covid-19 on a worldwide basis and Brexit here in the UK. I am happy to now sit it out and bide my time to get back in anywhere, hydrogen, housebuilders, retail and the services sector. All my favourite sectors that have done me well the last decade in particular.

Good luck everyone, be careful. It's hard work making money as we all know, but it's very easy to lose it.

Cash is always king especially off the back of 10 years of major profits with Hydrogen the last five years being the holy grail of all Investments which I doubt that many private investors were fortunate to stumble across.

We have all been incrediblly lucky to taken the risk we did.

Currently holding 90% cash at the moment.

Majority sold out everything apart from some of my safer FTSE stuff.

I am too near retirement to take too many chances and was sitting on so much profit.

I did a similar thing with housebuilders just before the Brexit referendum , and had a double whammy with the likes of Taylor Wimpey and Persimmon soon after.

The whole market is in danger of a sell off especially in Hydrogen where many are sitting on maga profits never to be repeated in a lifetime.

I sold my entire Hydrogen portfolio out last week . I don't mind missing out on a little profit if I have got it wrong, but I think there is potential to buy back in a couple of months down the road maybe cheaper.

It's good to have cash in uncertain times and it is sensible to bank profits at times. Paper profits are nice but they don't mean a thing and things can change very quickly.

I currently have order in on ITM at 225p, I would feel comfortable at buying back in around that SP.

Good luck everyone.

The UK government launches Hydrogen Advisory Council with Shell on the board.

A positive step by the government......

https://www.energyvoice.com/oilandgas/253835/uk-government-launches-hydrogen-advisory-council/

As we all know there is no doubt the future for green hydrogen is positive.

I believe the price drop the last week is down to market sentiment in general. A lot of people will be keen to protect profit at the moment and you can't blame them.

Not sure if we have reached the bottom of the fall with ITM. I suspect not .

Long term I believe there is no issue with the current price but short term there could be a better entry point for new investors. If we see a drop to 250p I would have no hesitation in a top up.

In the meantime a good positive read below.......

https://www.h2-view.com/story/hydrogen-2020-engaging-with-innovation/

I think you are right about Musk. Ñot that he is too worried about wealth, he probably has enough to live on for the rest of his life regardless of the outcome for Tesla.

It will hurt his pride and he must be aggravated that a Hydrogen infrastructure is now rolling out across the world.

Having driven a Hydrogen car on the ITM test track five years ago and had a go at filling one up that is when the penny dropped for me that this was the real future for motoring.

With the likes of Hyundai, Toyota and Shell behind Hydrogen the future is changing for sure and it's not so certain that Battery will win the race over the long run.

Good to have a foot in the door with their refinery project and with ITM Motive in the UK.

A good read below.......

https://www.h2-view.com/story/by-rail-road-or-sea-why-shell-is-adamant-about-hydrogen-mobility/

I like the sound of this line in the ITM job advert below. ....

"We have ambitious plans to grow the network substantially in the next two years"

Looking at how McPhy's SP has reacted recently to new hydrogen stations , wait until the ITM newsflow starts to flow

https://itmpowerplc.bamboohr.com/jobs/view.php?id=82

Maybe some input down the line for the ITM /Linde JV.......

https://www.h2-view.com/story/linde-china-power-mou-to-develop-green-hydrogen-in-china

Absolutely no complaints about much the last few months dsc and it's only going to get better over the next decade.

There is plenty of room in the market for quite a few companies involved with Hydrogen to do well.

Well SatellitePro if it was you, thank you very much because it was down to this board I researched and got in a few weeks back.

A nice tick up this week. My AFC Energy and Powerhouse are also doing good this week.