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 2/12/11): | Close (Friday 9/12/11): | Percentage Change: |
XJO | 4288 | 4203 | -1.98% |
XSO | 2404 | 2359 | -1.87% |
After such a strong week last week it was pretty much expected that we would see some weakness or at the very least consolidation this week. Our markets closed down almost 2%, whereas many overseas markets fared a little better. This is in large part to the position news that came out about the Eurozone on Friday night (our time), as a result our market did not get a chance to trade on the news. I would therefore expect a rally on Monday morning (baring any new negative news). However, as has been the case on the ASX for a couple of months now our ability to sustain that rally through the course of the trading session is another question.
Code: | Weighting: | Share Price Friday (2/12/2011) | Share Price Friday (9/12/2011) | Percentage Change: | Weighted Change: |
OBJ | 18.54% | 0.019 | 0.019 | 0.00% | 0.00% |
MHM | 20.71% | 1.045 | 1.015 | -2.87% | -0.59% |
KGL | 29.08% | 0.130 | 0.120 | -7.69% | -2.24% |
Cash | 31.67% | 0% | 0.00% | ||
TOTAL | 100.00% | -3.521% | -2.83% |
On a portfolio basis we saw both MHM and KGL fall. KGL was the worst performer of the week and ended up closing 7.69% down. I think the selling was largely due to short term profit takers following our run last week and I expect the price to stabilise around 11.5 – 12 cents until we get some news on Andash, Burnakura or Jervois.
OBJ closed the week flat, but that really hides what occurred on Thursday and Friday. OBJ’s “cousin”, PNO, had a couple of strong trading days going from 0.005 to 0.008 cents (intra-day high) on some fairly large volume. This also saw OBJ push higher and at one point it was at 2.1cents. However, in the last few minutes of trading on Friday it was sold down to 1.9cents.
MHM was also down a couple of cents which was surprising given that Monday (Tuesday our time) is the day of our bring press conference. To be honest this is not necessarily a negative thing. If the stock had pushed up another 5 – 10% that could have indicated strong term traders were taking a position in the stock in order to “buy the rumour, sell the fact”. That would have made any increase in the share price on Tuesday harder to sustain as they sold out of their positions. Hopefully the lack of trading this week signals that the market has ignored the potential of the announcement for now and will only price it in on its official release.
Overall the portfolio closed down 2.83%. It is also important to note that as the portfolio is now only approx. 30% cash it is more open the volatility of the market and I now expect each week’s percentage gain or loss to differ by a larger amount, when compared to the broader market.
Code: | Weighting: | Share Price Friday (2/12/2011) | Share Price Friday (9/12/2011) | Percentage Change: | Weighted Change: |
OBJ | 27.13% | 0.019 | 0.019 | 0.00% | 0.00% |
MHM | 30.31% | 1.045 | 1.015 | -2.87% | -0.87% |
KGL | 42.56% | 0.130 | 0.120 | -7.69% | -3.27% |
TOTAL | 100.00% | -4.14% |
Removing cash also highlights the extent of the individual stock moves on the portfolio. With cash removed the portfolio closed down 4.14%.
Below is the percentage change against the average purchase price. As per my earlier weekly reports OBJ and MHM remain below water with KGL the only stock currently in profit.
Code: | Weighting: | Purchase Price | Current Price: | Percentage Change: | Weighted Change: |
OBJ | 22.94% | 0.023 | 0.019 | -17.39% | -3.99% |
MHM | 22.29% | 1.100 | 1.015 | -7.73% | -1.72% |
KGL | 22.41% | 0.098 | 0.120 | 22.45% | 5.03% |
TOTAL | 67.63% | -0.68% |
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