What an excellent week!
Trinity Mirror rocketed; this would have been good in any event but TNI is overweight in my portfolio and what’s more I bought an extra clip the day before their figures were announced because the chart looked fantastic.
Charting is a bit of a dark art and I use it a lot. I don’t use anyone’s signals but my own and one of them is to buy a stock after it has collapsed and bumped along the bottom for a long time. When it breaks up wards from its bottom crawling range I jump in.
TNI did that the day before its figures so I look a lump and low and behold the next day it rocketed. To be honest I didn’t know that the announcement was due, nor do I care. I try to avoid the short term at all costs and fundamentals are not changed by a statement, only the perception of them. I buy what I decide is the long term reality not the short term narrative.
So it was funny how it panned out for me; long term view and very strong signal turned out to big short term win.
I’m back over 15%+ return on my portfolio over the 9 months since re-entry, so with luck I should be over 20% by the years end, a level I like to think of as my norm. There is of course plenty of scope for levelling me in the current crisis conditions, but I must plough on with fingers crossed.
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