Charter plc - A second bite of the cherry.

Today Charter Plc (CHTR.L) is down over 6.5%. My plan was to go long on a pullback such as this one and I was filled at 463.08.

My order details;

Buy Market @ 463.08p (Pre-determined entry point)

Stop - 434.08p (Logical level of support)

Target - 522.08p (75% of the upward channel)

Position size - £7/point. (£7 * 29pts = £203)

Max risk - £203 (1.8% of The AtticFund)

Charter plc - A missed opportunity....

Charter PLC - A missed opportunity

In my blog post on 30th March, I highlighted Charter Plc as a stock I would be interested in getting involved in. I was waiting for a pullback, which duly occurred on 8th April (see point B on the chart below). My limit order was set at 432 (just so you know I'm not making this up, see the screen print I've attached of the Charter order!!). The stock made a low of 432.5 before continuing its move north. It now currently sits at 485.9p and is looking good for more gains.

I'm going to be waiting patiently for another pullback (secretly cursing that I missed this move!)

Thats trading though.

See my Charter order that failed to fill by 0.5p and which I then subsequently cancelled.

Trading Update - Hurry up and wait...

AtticFund Update;

Centamin Egypt +12.9%

Autonomy Corp +6.7%

AtticFund +3.8%

Centamin Egypt

After Mondays rise in Gold ($884 to $894), I felt that Centamin Egypt (CEY.L) could well benefit from this rise and from the open things looked good, with Centamin rising from 57.3 on open to a high of 60.8p in only 2 hrs.

As I'm using a leveraged product this 6.1% rise equated to a nice 1% increase in the AtticFund. However by the close Centamin had given back all of these early gains to close at 57.2p leaving me staring at a very bearish candlestick pattern (below).

Further investigation revealed that this candle has been formed on average volume which suggests that this is not a reversal and so I remain invested with my stop at 50p.

Autonomy Corp PLC (AUTN.L) was also down today.

This stock is now trading 7.6% off its recent highs, and the Attic Funds profit from this stock has eroded from a high of 5.2% to 2.3%. Taken in isolation, that is not a bad return from a single position, but it is hard to accept as this is starting to feel like a loss. On the plus side, the chart still looks incredibly bullish, with the current dip in the share price looking like a pullback (as opposed to a reversal). On further inspection, Autonomy looks to be creating a Bull Flag on the daily charts (below).

So I remain invested in Autonomy, with a stop at 1300, guaranteeing a 1.9% return. If I was to get stopped out (which is a real possibility over the next couple of days), then I will continue to search for buying opportunities on this stock as I am still generally very bullish about this company.