Sound the fanfare, I’ve sold some shares!

Ever since I started on my journey as the Amateur Investor I’ve been building up my share and fund holdings. Some shares and funds have been bought for the income they produce, some shares and funds have been bought for growth, and some shares purchases have been a complete punt.

Whatever the reason, buy has been followed by buy. Not a sale in sight…

… until today that is!

I’ve been reading a lot of articles about when to sell shares recently. When to sell shares you’ve bought for income, when to sell shares that have made a loss and when to sell shares that have made a profit. And today was the day I sold my first shares as the Amateur Investor.

Back at the beginning of August I bought into a company called Digital Entertainment (BPTY) which were tipped in the 29th July issue of Investors Chronicle magazine.

BPTY was formed when bwin Interactive Entertainment and PartyGaming Plc merged in April 2011 to create the world’s largest listed online gaming company operating brands sucj as PartyPoker and FoxyBingo.

I bought in at 137p on 1st August, and again at 132.2p and 125.5p on 2nd and 3rd August.

The share price continued to drop and just a few days later they stood at 101.70p. I bought some more at 103p and decided not to commit any more money.

One of the black clouds that hung above their head was the fact that International online betting firms have been excluded from the lucrative US market because it was felt they fell under the scope of the so called “Wire Act” which prohibits certain forms of betting in the US.

But an announcement after the close of trading on 23rd December by the US Department of Justice implied that the “Wire Act” may not apply to online gaming.

If BPTY can enter the US market it could result in a huge boost to revenues and as a result BPTY shares rocketed 20% on the first trading day after the Christmas break.

The rise in share price meant that some of my shares were up 50% while others were up over 20%.

On 28th December my average buying price stood at 124.6p so I decided to lock in some of the profit, but retain some shares in case the rise continued. So I sold at 157p and again a few minutes later at 159p locking in profits of 32.4p per share and 34.4p per share (26% and 27.5% respectively).

I was tempted to sell all of my holding, but didn’t. So should the shares continue to rise over the coming days and months I still hold some that can be sold for an even bigger percentage profit.

Keep an eye on Digital Entertainment. I will be…

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