I'm glad I follow the markets and not try and forecast them - I did think they might go down! A very strong showing but the big question is, is it all too much and is 5550 the top for now? It would look pretty bullish if 5550 went. The markets are definitely strong right now. Are they right? Who knows, they are there to be followed. However one wonders whether if they carry on rising whether that would induce a nasty fall.
Anyway what have I been up to? Well mind your own business!
All right then. Let's go with some buys first.
Recruiter Harvey Nash Group (HVN) looks like it might be worth getting back into. Hammered during the recession, it said earlier this week profit is going to be 4m or more and there's 5m of cash. On those figures it looks undervalued and I think there's a good 20% underrating there. It seems to be rated like a share that could go bust which isn't going to happen on those figs. So on that basis I bought 10,000 at 34.8, and initially looking for that 20% so targetting 42 with a stop of 32.
Nestor Healthcare Group (NSR) looked worth a top up for me. I got another 10,000 at 44.7. Target 55 stop 39. It's tested my patience a bit but some persistent buyers around the last few days. I'm really looking for a bid for this one - complete speculation on my part of course. Interesting buying going on!
Huntsworth (HNT)'s rating is a bit of a mystery - I've held these for a bit and they've not budged - the company thinks they are underrated too and is buying back shares - however I noticed there was more buying interest coming in on the order book and I also wonder whether some sort of overhang is cleared or nearly cleared so taking a chance and topping up with another 5,000 at 65.8. Target 80 stop 60. If it's cleared with the buyback on, could be a good riser for me.
Finally my two fave volatile shorter-term plays, Centamin Egypt (CEY) and Afren (AFR) were both looking good, both appeared to have bottomed so in for…
