Weekly Update: Week Ending 3 February 2012

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 27/01/12):	Close (Friday 03/02/12):	Percentage Change:
XJO	4288	4251	-0.86%
XSO	2390	2412	0.92%

First of all guys sorry the reports are late again. I have spent about 30 hours this week research a stock, Cortona Resources. I still have not made a decision on whether to add it to the portfolio or not but will certainly keep you informed if I do.

Anyway on to the markets, last week was quite unusual as we had the XJO down 0.86%, but the XSO up 0.92%. This would seem to suggest that some investors/traders are switching out of blue caps and into the more speculative small cap sector.

Code:	Weighting:	Share Price Friday (27/01/2012)	Share Price Friday (03/02/2012)	Percentage Change:	Weighted Change:
OBJ	19.26%	0.019	0.019	0.00%	0.00%
MHM	17.09%	0.830	0.850	2.41%	0.41%
KGL	29.06%	1.250	1.290	3.20%	0.93%
Trading	14.08%	1.250	1.290	3.20%	0.45%
Cash	20.52%			0%	0.00%
TOTAL	100.00%			2.937%	1.79%

While monitoring my portfolio last week I thought I was doing pretty bad. It just seems like MHM, OBJ and KGL have been stuck at the same price point for a while. However when you plug the numbers in they actually did okay this week (even if they didn’t last week or the one before).

Overall the portfolio was up 1.79% with both MHM and KGL leading the charge.

Code:	Weighting:	Share Price Friday (27/01/2012)	Share Price Friday (03/02/2012)	Percentage Change:	Weighted Change:
OBJ	24.23%	0.019	0.019	0.00%	0.00%
MHM	21.50%	0.830	0.850	2.41%	0.52%
KGL	36.56%	1.250	1.290	3.20%	1.17%
Trading	17.71%	1.250	1.290	3.20%	0.57%
TOTAL	100.00%				2.25%

Without cash in the portfolio the return would have been 2.25%. I continue to hold my trading parcel of Kentor Gold in anticipation of an announcement on Andash. This is obviously dragging on longer than expected and to a certain degree I do feel over exposed to this stock for the time being. I am monitoring the situation carefully and may decide to exit the trade if it doesn’t show some signs of improvement once it starts trading as KGL again. (It is currently trading on the code KGLDA as it has undergone a 1 for 10 consolidation).

Code:	Weighting:	Purchase Price	Current Price:	Percentage Change:	Weighted Change:
OBJ	22.93%	0.023	0.019	-17.39%	-3.99%
MHM	22.28%	1.100	0.850	-22.73%	-5.06%
KGL	22.41%	0.980	1.290	31.63%	7.09%
TOTAL	67.63%				-1.96%

The portfolio remains slightly underwater and down 1.96%. It seems that none of my stocks can go up at the same time. MHM had a gone run a month or two back, Kentor has had a few good days and OBJ came off its lows fairly well. But they all happened at different times which is a little frustrating. I look forward to the day where the portfolio is finally in the