I have longed WOS at £11.57 on Thursday 20/07/06 @ 9am(ish).

I’ve been watching Wolseley for a bit now and have been in and out of this stock several times over the past couple of months. The analysts seem to be recommending this share as a strong buy pretty much across the board.

Got (back) into Wolseley 20/07/06 at about 9a.m. at £11.57 and £2 per tic. I’ve quite a tight 30 point stop loss and have placed a limit order to sell WOS at £13.14 which is probably a tad on the optimistic side!

For those that don’t know (and that included me until very recently!) Wolseley are a distributor of heating and plumbing products and are a supplier of builders’ products to the professional market. Their brands include: Plumb Center, Drain Center, Build Center, Hire Center, Pipe Center, Climate Center, Parts Center, Bathstore.com, Broughton Crangrove, Brooks, Heatmerchants and Tubs & Tiles.

I will post more details about how my spread bet on WOS.L went when I close my position with the spread betting company…

Updated 21/07/06
Wow… these stocks are going up and down faster than a kangaroo on a pogo stick! I seem to be buying high and selling low rather than the other way round. Anyway I got stopped out today at 9:15am at £11.27 and they’re still dropping so I guess I should be thankful that I only lost £60 :-/Going back for a while til the market’s decided whether its worried about the middle east, dollar strength, commodity prices etc or (if the news is good) it feels bouyed by the reported performance of MicroSoft and Google (being announced later today)…

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