More play and the stock market

I played another short one-hour session over the Bank Holiday weekend, making another $40 to leave me $90 to the good.

I've realised that my bankroll data is nearly six months out of date, which shows how the love affair with the game has dwindled somewhat.
If I get the chance in the next week or two I will try to update it but I doubt it is much more than the stated total of $5.5k.

I thought I would tell you a bit about why now is a very good to invest to pump some money into the stock market.
In the time I have been following the markets (first as a journalist and now as an analyst), it is clear that the entry level is the most important ingredient to making money.
You can pick the best company in the world, which will survive a downturn and profit during boom times, but what matters more is what price you got in.

I bought JJB a month ago - partly after doing a little work for my friend in his share tipping contest I wrote about a few posts ago.

It is up 125% since then. I have bought Lloyds at 60p, Taylor Wimpey (Britain's biggest housebuilder) at 45p, Enterprise Inns at £1.30. The list goes on.

All are shit companies, that were priced to go bust. They didn't and I profited. I used to own Lloyds at £6. JJB was a fiver not so long ago.

With the FTSE 100 at 4,300 it is a fantastic to put some money away for a couple of years, take the dividends and cash out for a healthy profit.

I now have almost all my personal wealth in equities, and will keep it there until I can afford a house - the market still fears armageddon and is cheap, cheap, cheap. Armageddon has been and gone, Lehman's went bust, Lloyds, RSB and Barclays nearly went bust. But they were saved, the Government is printing money like no-one's business but we will survive.

Buying stocks and shares, you are basically backing capitalism to my mind. There has been a bounce and a lot of the dross that I bought has topped out for now but on a two to three year view it is a win-win situation. Back capitalism and profit!

Rant over :)