01/07/24
Hi, I have not provided an update for a little while now on VEVE / PIP / PremiumService.
As you may have noticed we have undergone a bit of a rebrand. I hope you like it www.townclose.money and the PremiumService password protected page is yet to be reinstated to the new website.
Suffice to say VEVE keeps on climbing and shows no signs of offering us a chance to jump in and out.
For your overall portfolio this is very good news, for the PIP strategy it’s rather dull just sitting on our hands, waiting, and waiting….
The current high close price was set on 28/6 at 8061. Therefore, we are waiting for this to fall to 7819 before we get interested. We last closed below that level on 4/6.
In the meantime, the cash you have allocated to PIP attracts 3% interest which is a better return than the bonds you would have otherwise held have made (down 1% since we exited VEVE on 14/5).
Patience is the name of the game.
03/08/24
On Friday VEVE closed 4.75% below its previous high set on 16/7.
That previous high is 2.5 weeks old and we were pennies away from buying VEVE a week ago.
My concern is that most of the drop happened quickly on just one day, and that might be a precursor to VEVE dropping further next week. Which may or may not turn out to be the case.
My view, therefore, is that we should only invest half of what you have available and see what Monday and Tuesday bring.
That is how we will proceed first thing on Monday.
*If you want to invest everything you have that is available let me know before then.*
05/08/24
VEVE closed lower again today, we are more than 6% down now from the most previous high on 16/7/24.
Therefore we will look to invest the remaining cash that we have allocated for the PIP strategy in the morning depending on how the US closes and what happens in Japan overnight.
If there is a bounce up or a charge down then I am minded to wait and see.
If, once we have deployed all the PIP cash, we get further falls we will look to take recent bond profits (at 10% down) first and then reduce your bonds holdings if the market drops 20%+.
These can be nerve wracking times but this is when the outsized profits can be made.
06/08/24
Yesterday morning we bought VEVE for around 7546.
The price rose during the day to close at 7605 and is climbing again this morning after Japan went up about 10% overnight.
I am therefore holding back on buying more VEVE this morning. We will either make a decent profit as VEVE continues to climb or it could be a "dead cat bounce" (https://en.m.wikipedia.org/wiki/Dead_cat_bounce) and therefore a better opportunity will likely present itself sooner rather than later.
13/08/24
Good afternoon, VEVE did not fall further as it threatened to last week. Instead it has climbed in value to the extent that we have made at least 3.5% profit in just a few days.
As a result I have arranged for your VEVE to be sold in the morning.
I will confirm the cash profit on this round of investing, and your total profit to date as soon as I have the figures later this week or early next.
06/09/24
Good afternoon, the price of VEVE has slipped back over the last few days and is now 3%+ below the previous high.
I have therefore put in an order to buy some for your account, using the cash available, once the market opens again on Monday.