I've been scaling things back, partly because the market was making me edgy, partly because I've bought too much art and needed my cash back. I sold out of ASX in two tranches at a loss of $450 all up; yes, the ASX shares I declined to sell at a profit of $600 a month or two back. (though I did buy some of the ones I've sold at far less a while back, so the loss is mitigated.) I sold out of PSV at a profit and bought back in at 20 pc less, with a lesser value overall. I sold out of REA, again at a profit, and I'm waiting for it to drop so I can rebuy a smaller parcel.

but I held and held to Biota. yesterday it dropped to $1.25. I paid an average of $1.75 for those shares. in my opinion, Biota is a special case: it's way volatile and the slightest sniff (hah!) of bird flu pushes it up. as I write, it's rising, for no apparent reason, at about 1c every couple of minutes. of course this doesn't mean I'm making money. but it does mean my losses are shrinking. it's the kind of stock people think may "go off" one day, and therefore when it starts to move, I think they jump in fast.

all I want is $1.82 and my money back. really.

just seconds after I wrote that post, the full WTE sale went through; a mere $450 profit, and I hate to think that maybe it will jump again next week. but I'm out and have some money coming back into my account; I'd reached the stage where there was NO ready cash, and a credit card bill awaiting payment. too overstretched.

WTE finally came from being well below my purchase price of .039 to just above it; I had a feeling .043 was the place to be, but left it at .044, and sure enough it peaked at one sale of .044 - not my parcel of .044 either. now I'm halfway through selling out at .042, a mere $400 profit on a couple of months of having $6000 tied up. but all the same, at least I'm unloading it; BTA continues to slide.

I noticed that PSV has gone up 50 per cent since I bought a small "keep" parcel in January. apart from annoying me that I didn't keep the two tranches I bought and sold for mere hundreds of dollars, this spooked me so much I sold out altogether; I'll buy back in if and when it goes down, and just $1000 worth. a $500 profit is a $500 profit, however it comes. and because REA put out a complex share splitting deal that drove up the price 15 per cent - but, I suspect, only until the deadline for the deal passes - I also sold out of that. my original $500 from five years ago is now worth $2000, but there are a couple of safe little property/share fund things launching soon that I think I should put the profits from those two into. in fact, as I write, that's a good new principle: recycle significant profits from the "hold" portfolio back into itself, as opposed to the daytrademadness money.

the play money is reducing anyway. I've bought a bit of art, and until BTA recover, there won't be much floating about. as well, I'm getting nervous about how hot the market is. and my country castle needs a new roof.

forgot to say: the reason I didn't get that peak is I was out and unable to watch the market; but as soon as I saw it had gone through I knew, without reading the news, that interest rates didn't go up today and that this silly market will go on a bit longer; hopefully long enough that I'll get my funds back and hopefully make a little money in the meantime.

good: OLY went up, up, up today and my resolve in holding to my sale price was rewarded, three months later, with $750. I am going to try not to buy more with the $7000 I'm getting back, as I'm way up on what I should have in the market.

bad: of course it peaked at a point where I could have made 1200 or so. but the new rules say: be happy to sell at anything over 5% (about 250-300 profit on most trades) and if it hits 10%, barring exceptional circumstances like bird flu, DO sell and be very happy, regardless of whatever other nonsense goes through your mind.

at least it goes some way to paying back the KYC debacle.