David Fuller's view

This morning, I used the market setback to top up two of my largest personal long-term holdings.  I bought more JPMorgan Indian Investment Trust (JII LN) at 479.1875p, and also more JPMorgan Chinese Investment Trust (JMC LN) at 170.3p.  These were trading at discounts to NAV of -9.485% and -9.962%, respectively, according to Bloomberg.  These discounts to NAV have increased in recent weeks, indicating that some investors have taken profits.

I also placed a slightly in-the-money stop on yesterday’s silver purchase, on seeing it up over 20¢ this morning, although crude oil was weaker at the time and the USD was firming.  That may have been overly cautious and I was stopped out shortly thereafter.  My March silver was sold at $15.74, against yesterday’s purchase at $15.713, including all spread-bet dealing costs.