To calculate the weekly performance on my portfolio I take the close from last Friday to work out the percentage increase/decrease in each stock. This is compared to the ASX 200 (Code: XJO) and the Small Ords (XSO). The Small Ords is comprised of companies included in the ASX 300 index, but not in the ASX 100 index. I include the Small Ords in my comparison as it helps highlight the markets appetite for risk.
Market: | Close (Friday 11/09/11): | Close (Friday 16/09/11): | Percentage Change: |
XJO | 4194 | 4149 | -1.07% |
XSO | 2484 | 2435 | -1.97% |
This week the market started with a 3.72% fall on Monday and although Europe and America started to show strength early in the week it wasn’t until Thursday and Friday when we actually saw some decent gains on our market. As a result the XJO closed down 1.07% with the XSO falling 1.97%. I expect the coming week to start off slowly given the FOMC that takes place on the 20th and the 21st of September (Tuesday & Wednesday), with the outcome of the meeting likely to set the direction for the market in the short term.
In regard to the individual stocks held within the portfolio we have seen the market start to “give up” on MHM so to speak. What I mean by this is that over the last couple of weeks MHM has rallied and fallen in line with the market. This week, however it was happy to fall hard but did not join in on the move up with the same amount of strength. I believe this is primarily due to the delays with US expansion, however the fundamentals remain strong (if not better than the past) and I continue to hold.
OBJ finally starting showing some short term strength and ended the week up at 0.019. Although not a large percentage increase there was significantly more volume which helps give me confidence in the share price over the next week or so (barring any major disaster in the US or Europe). As I mentioned on my blog earlier in the week it appears that our Patent has been approved in America and I expect that the announcement should come out sometime this week. The announcement won’t be a game changer in itself, however I do expect a slight boost in the share price or at least an improvement in the buyers’ depth. I am also of the opinion that the longer the announcement is delayed the more positive it could potentially be, as I can see no reason for a delay unless they wish to release additional information alongside it.
Kentor Gold had a bit of a nothing week and remained unchanged at 11 cents. As a result the portfolio increased by 0.41% on a weighted basis, with gains in OBJ being offset by the fall in MHM and cash component of the portfolio.
Code: | Weighting: | Share Price (Friday 11/09/11): | Share Price (Friday 16/09/11): | Percentage Change: | Weighted Change: |
OBJ | 25.66% | 0.018 | 0.019 | 5.56% | 1.43% |
MHM | 12.50% | 0.8 | 0.735 | -8.13% | -1.02% |
KGL | 11.81% | 0.11 | 0.11 | 0.00% | 0.00% |
Cash | 50.03% | 0% | 0.00% | ||
TOTAL | -0.856% | 0.41% |
Removing cash from the portfolio shows an improvement of 0.82% for the week.
Code: | Weighting: | Share Price (Friday 11/09/11): | Share Price (Friday 16/09/11): | Percentage Change: | Weighted Change: |
OBJ | 51.37% | 0.018 | 0.019 | 5.56% | 2.85% |
MHM | 25.01% | 0.800 | 0.735 | -8.13% | -2.03% |
KGL | 23.63% | 0.110 | 0.11 | 0.00% | 0.00% |
TOTAL | 0.82% |
As always please do your own research and consult a financial advisor. Nothing I say is advice or a recommendation to make any form of investment or trade.
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