I haven't been posting much since I'm still pretty unsure where STI is heading. As I mentioned before, I had expected STI to hit between 3050-3100 and it has duly done that.
I personally feel now is the time to do the following:
1) Take profits
2) Cut losses on any bounce (on those that have hit stop losses or those that seemingly look weak)
3) Sit on cash and wait for direction.
Right now, I have tried to reduce my trading positions and have only bought acceptable small positions on those counters that are:
1) undervalued and near support, (DMX at 22.5c... now is about 22c with support at 21.5-22c)
2) seemingly has something brewing underneath (Popular... main shareholder kept buying for the last few months and his wife just bought 800+lots on National Day eve)
3) sold down for no reason (China Animal Health. Suppose to be working on delisting offer at 30c. Sold down on a few thousand lots volume. Not sure if there's news that delisting might not go ahead)
I cut my KTL position which was a big mistake when I didn't sell for profit about a year ago.. end up stuck with low liquidity. Decided to bite the bullet and take the loss to retrieve whatever capital there is. I don't think the business is able to turn around any time soon as well.
I'm looking out for Far East Reits to invest for my now empty DVD portfolio...
I'll try to find sometime to post charts going forward
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