I just wanted to discuss a few things that happened today. I went long on Man Group as per the previous post at £2.40. At an 11.6% yield the highest in the ftse 100 and with the price dropping 41% over 11 consecutive days, I saw an opportunity to go long(buy). I already hold this share as you know from previous posts but I wanted to take advantage of the severe sell off recently, that was unjustified and overdone. Sentiment in the market was changing this morning and I got on board for the short term. Stop loss is £2.20 for now.
On another note, did you see the water companies today?! Wow what a move to the upside. Rumours about a bid for Northumbrian water, lifted up my holdings in United Utilties and Severn trent by 4% today.
Mr Market is realising now that the defensive income shares were or are undervalued. Will Vodafone be next? Their results are this week, watch out for those on Thursday.
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