Tuesday, 07 April 2009
Every cloud has a silver lining, and in the beginning of January, I wanted to exploit that fact!
I had a small amount of savings set aside in January, and whilst I was waiting for my house purchase to complete, I decided to purchase a few shares...might as well try to profit from the bank's misfortunes. I decided to tread carefully and made "relatively small investments" in two key banks that I felt were more secure than most...ha - that's a general statement to summarise the current predicament the financial arena is in!
I purchased shares in Standard Charter (STAN.L) and HSBC (HSBA.L) - 100 of each - at a time when they were around £7 and £5 each per share, for the respective companies. This really amount to just over £1,200 (with commission fees and the like!). I had set my goal that this was a very short-term investment, with the aim that both banks would not be sending "bad vibes" into the marketplace.
Almost right...STAN seems to be doing pretty well, and the shares have shot up to around the £9-10 per share mark, whilst HSBC actually had a tougher time, having to report it is in "sound" shape - but this still caused ripples in the market.
My goal was to sell STAN when they went over £10 per share - and they did exactly that at the end of last week, so on Monday I sold the 100 shares - and made a nice tidy £300+ profit. Neat! The HSBC ones, I left, to wait for another recovery (!!) and hopefully those shares rebound in the black again! I aim to get HSBC to the £10 too, and then I will sell them...hopefully!
That wee little profit will do very nicely for my house upkeep!! Only registered users can write comments. Please login or register. Powered by AkoComment 1.0! |