Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
I had the same natural resistance to selling at a price below what I paid but I resolved to try Ts system for a week or two to try it out and generally I am content to continue.
I have mentioned a few times that I prefer non stamp duty shares as the spike/shake technique works with a smaller range and of course you don't give up some profit to the exchequer! Most AIM shares are no stamp duty and don't forget that parcels below £10,000 do'nt pay the £1 levy either. AIM shares have risks though so be careful. I have been frequently trading FEVR and ASC lately, both non stampy. I even managed to trade FEVR 12 times (6 buys, 6 sells) in 4 hours a couple of weeks ago. I even ran a commentary on this board about it until I was told off!
2 times £12.50 plus 0.5% of share value (£25+£62.50 = £87.50 for 1000 shares at £12.50) for a sell and a buy back.
When I am trading, I visualise the stamp duty as 0.5% of share price, i.e. 6.25p
The £25 fees spread over a 1000 share sell and buy back equates to another 2.5p
so you are looking for a change of 9p to reach breakeven.
According to Treacle the oracle, OCDO will usually trade in a 50p range each day.
Remember that the 9p breakeven I mention above is not particully relevant on those occaisions when circumstances determine that you are buying selling for less than you paid.
Ts system advocates using all the money from a sale to make the next purchase. I fully support this. When making a purchase and requesting a quote, it will state how many shares you will be getting for your money. Hopefully, this will be more than you sold but note that it automatically takes stamp duty and charges into consideration so it is easy to see your change in shareholding if you accept the quote. Obviously you ask for the quote for "value" of shares as opposed to "number" of shares.
I have no doubt T will check my above figures. Good luck
Yes, I saw that 229K sell on the HL lists earlier and wondered about it. Perhaps not too significant with today's highish volume.
I hate to mention the word "shorting" because I disapprove. Looking at the short positions, they last changed downwards on the 4th Feb so I see that as a positive. However, I think I am right in thinking that compulsory reporting of short positions is only required above a certain percentage of issued shares. I often think (cynically) that several small short positions might be built up to that reporting level. I'm mumbling, I have great faith in this company plus I like to see shorters get into trouble.
Thanks for your hints for tomorrow, lets hope the volume and hence movement gets back to normal levels.
Hi V,
I am sure that T will respond to your message but I have got to tell you that 1000 OCDO shares is plenty to be trading the spikes and shakes. Yes it sometimes feels like the charges are high in comparison to the returns but the return of even 3% on 1000 OCDO shares (worth £12000 at the open) is £360 (or 30 more shares) which puts say 2 commision charges into perspective. Yes, today 3% value could be added by doing nothing but, by using Ts method and adding shares, there is a compounding effect which really does have a benefit. I "only" have 1593 OCDO shares right now, but that has grown from 1500 in quite a short period. Good Luck
Yes, inreased volume certainly makes more opportunities to make profit. Obviously Iagree that concentrating on one share is the way forward and I herewith apologise for leading you astray.
Looking at todays graph, it seems to me that a perfect application of your method could have yielded 5.5% or more, after all, just holding them through the day would have yielded 3%.
I feel a little shell shocked after today's trading. I was moving between delight and despair several times and wasn't handling it well. Perhaps I should join the TA. (Traders Anonymous)
Lost my LSE page for about 40 mins.
T. I got a second bite of the cherry with SAGA so I have sold them. As happened the other day, discovered I could get a better price by selling in 3 tranches, yes, in spite of extra dealing charges.
I have made many risky investments but with OCDO I feel very confortable, a strange but nice feeling for me.
Have had a bad hour, missed a little dip that I could have bought back ASC, missed chance to be back in OCDO and missed top of 5.4% spike on SAGA...I know, I should be ignoring my other shares but can't help it.
Trouble is, I haven't got any ASC at the moment although I am looking to buy, just had an offer at 3499 which is tempting me. With no stampy and £3 dealing charge, I might try some churning on small spikes/shakes
I can sympathise T, I also was effected by missing the MCRO spike but also by the range today (Rule 3..remember the 50p range guide), we have been lulled into accepting a lower range now for a few days. Dare I ask what is your hoped for buy back price, 1220?
My watchlist board now only half blue, at least OCDO is hanging onto its gains, showing a little strength and positive acceptance of the figures.
I am considering buying a tranche of ASC with half the proceeds from my last sale.
Very high percentage of recycled air on planes and people close together, would have thought it the ideal conditions for transmission of virus.
All shares on my 20 share watchlist are blue (with the exception of MCRO), must be a blue letter day!