The ups and downs of wave power May 24, 2007
Posted by CamdenKiwi in : Investing,Little Green Portfolio , trackbackMy holdings in Renewable Energy Holdings plc have been causing perplexity this week. I topped up on this share early in February, and its been in the doldrums ever since. However, a rather odd market announcement caused it to shoot up briefly, and I sold the shares I bought a couple of months ago for a nice wee 10% profit. Now, its sunk back down again, and I notice that it oscillates in this way fairly regularly.
I normally operate a buy and hold strategy for the shares, but I think for this, I’ll try something new. I’ve put in a buy order at 36p, and when I get it, I think I’ll put in a sell order at 48p and see what happens. It seems to fluctuate wildly on news which leads nowhere, although the underlying wave power technology for which I originally bought the stock still looks good. I’m keeping a basic holding throughout, so if it does ever do what its supposed to do and the stock takes off, I’ll still have an intereste.
One of the nice people over at the Interactive Investors discussion board pointed out this site, which is the subsidiary of REH that owns the CETO technology, and explains it rather well, with a rather relaxing video of the power-generating buoys floating up and down in the water. Go and have a look.
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