What's wrong with being wrong

Here's a share chart for a change

You all know of the struggle I've had with gauging the direction of the market over the last few weeks. I've been waiting for a fall that never came, finally accepted that I was wrong and switched my position. I accepted that the bulls were in the ascendant. But joining a bull run after it has already made a lot of ground means that you are probably paying too much for the shares you buy and they are poised to go down. I have attempted to mitigate this risk by looking for shares that are moving in a regular wave pattern and are near the bottom of the wave.

This is a risky business because there still is the danger of a big fall in the market which will leave all ships stranded. But  nothing ventured nothing gained. In the last post I listed my fist batch of shares bought on the 25th. Here are the ones I have bought since then. UK QQ. and IRV. US PGN VZ TE SO. (no recommendation just some shares to look at).

We buy , we hope

Of all the shares I have bought SVS is the only one that has done well and is the main chart today. TATE is running along the bottom of its channel so I show that too. I have a way to go before I can cash in and nothing looks close to a stop loss, so I am holding on. It feels good to be picking shares again.

My portfolio is now divided as follows: Gold 4% Commodity 5% Equity 46% Cash 45%

Monday was my birthday and I was taken out on a treat to the Hand and Flowers at Marlow. It was fabulous. It has recently been awarded its second rosette by the Michelin guide. I had a Parsley Soup with Smoked Eel, Bacon and Parmesan Tortellini to start, followed by the most wonderful fish and chips ever and for my pud I had Pear Soufflé with Poire William Purée, Sweet Cheese and Mace. It was all topped off by my lovely friends singing happy birthday. They pretended to be too shy but in the end they girded their loins and most sweetly they did it too.

The birthday celebrations continued on Wednesday when I was taken to a Burns night supper at a local pub called the Foxham Inn. It has yet to be discovered but has a fabulous chef. I had never been to a Burns night before and it was a lot of fun. The Haggis came in the form of a Scotch egg with the haggis on the outside and an quail's egg on the inside. This was to help us sassenachs to cope. It was a most enjoyable evening with poems from the bard punctuating the courses (melt in the mouth roast Aberdeen Angus with roast potatoes and neeps followed by cranachan - a desert made of toasted oatmeal, whiskey, honey cream and raspberries).

So many well known phrases come from Rabbie Burns; My love is like a red red rose, Oh wad some power the giftie gie us To see oursel's as others see us!  and, most appropriate when trading, The best plans of men and mice often go awry.