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Next, Dunelm, levels and confessions

By Chris Bailey of Financial Orbit | Sunday 4 November 2018

Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Interesting times for followers of more UK domestic focused shares in recent days.  Both Nigel and I have already discussed BT Group (BT.A) on these pages.  Meanwhile elsewhere, fears wax and wane over the omnipresent Brexit negotiations, which appears to be the biggest shorter-term influence on many UK listed names with high UK exposure. 
Take Next (NXT) for example.  I have talked about this company before and observed - back in late September - that 'the 50 quid round number...That's still the level I would buy the shares back at'.  Next had a trading update last week which read fine to me but - reflecting market volatility - it fell to within a few pence of this level on Wednesday morning, before bouncing back to end the week in the fifty four Pounds and change share price area.
 I did not trade - slave to levels discipline and any required related disclosure as I am - but it told me again that there is real potential in getting active with trading some of the inherently sensible UK domestic names out there.  
Talking about levels, I need to make a confession about Dunelm (DNLM) where I noted the potential of appreciation to the six quid plus level a couple of months ago .  Well blow me happened late last week, possibly aided by the first decent block of TV advertising it has undertaken for a while. 
I guess that means I get to make a trip to the frilly curtains emporium with my credit cards sooner rather than the pre or post Christmas sales.  If you followed my advice to trade this one, I would sell the shares early next week and book your profits.  Whether you use some of those profits to boost your spending in some of their stores is up to you...

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