Oil be Blowed!
What a year it's been for those of us into oil stocks. I started the year with Burren Energy and added Dragon Oil, Tullow Oil and Aminex. I thought oil prices would go up in 2005 but didn't quite expect such a boom.
How many of us have made a pile out of oil this year? Lots of us, I imagine. Are there more profits to gush our way? Well, I think so and I'm not selling just yet.
Of course, like every boom there will come a time to sell but I'm happy to lose a few points than call the top. In fact, I believe it's never possible to call a top whatever the chart soothsayers would have us believe.
I'll ride the oil trend until I feel it's really turned against me. I ignored a whole heap of e-mails telling me to sell Burren at 550p - it's now nudging 900p! So with Burren bought at 239p and 466p (now nearly 900p), Tullow bought at 224p (now 270p), Dragon bought at 109p (now 170p) and Aminex bought at 18.5p (now 29p), I'm sitting pretty!
And like many oil investors, I expect to sit pretty for a while and ignore any short-term fluctuations.
I've just discovered my newly published book The Naked Trader is a sellout! The publisher had to prepare for another print run already! I'm absolutely delighted. It seems many women are buying it for their blokes for Christmas, judging by the e-mails I'm getting. I guess they just want to make sure they don't gamble all their money away! The publisher tells me copies will be available again from 3 December, and that the bookshops should have replenished stocks by the second week of December.
The book reveals how I make my money in a clear, jargon-friendly way with (I hope) plenty of entertaining stories thrown in. Order here from the ADVFN bookstore. Any orders taken now will be dispatched to you once stocks are back in.
It looks like the markets are set for a continued good run in the days up to Christmas. Let's enjoy it while we can, as I'm not so sure the run will continue much into next year.
Shares that have really done the business for me in the last few days are Carrs Milling, Gyrus, Hunting, Carphone Warehouse, Hill and Smith, Halfords, Highway Insurance, Fletcher King and CSR - all going crazy!