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Friday 18 January 2013

Update on portfolio

Its been sometime since I updated.

I sold Midas at 52c on Tuesday as it felt like distribution was happening and I didn't like the fact it refused to close above 52.5c for longer. Today it gapped up on the contract news but got sold back to start point... looks like sell on news to me. Those vested, please take note.

I sold my China Merchant Pac at 88c last week cause I felt it was exhausted. Right now it's still pretty firm but loss some ground from 89c peak.

Interra I had previously exited at 44c before it hit 46c. 40-41c support must hold if not it's not looking good.

Dumb trades
I made some dumb trades with the profit i gather this month...
- I took a position on Yoma at 72.5c but cut at 71c when 72c support broke
- I took a position on Mermaid at 38c when it looked like will burst past long term resistance but so far failed and I threw back on contra at 37c. However, there might seem to be a buyer at 36.5c as 36c isn't tested so far.
- I still hold on to Genting which I bought at 1.47 above the double bottom breakout but need to watch closely incase it breaks the neckline
- I tried momentum trading on TT international today for the first time... and I'm stuck at 20.5c... it has huge potential if 21c is broken.. but so far, there seems to be a hidden seller :(

Passive portfolio
- I subscribed to 5lots of olam bonds to keep for the duration unless the price can be so good for me to dump away
- I bought 10 lots of K-green today at 1.055 but seems like UBS is the seller to me (eeks!) Results are next Monday with expected dvd at 4+c.. I might sell before dvd but see how general market sentiment is. *This isn't on my Reits and dvd stocks spreadsheet as I just discovered it a couple of days ago*

I will update soon if there are any interesting charts.



1 comment:

  1. Stupid mermaid really ran up to touch 39.5/40c...

    I cut TT on the bounce at 20c... losing 0.5c

    ReplyDelete