Jun 22, 2013

CP Fund 2Q13

Portfolio Activity
1. Sold all ChinaMinzhong at 1.03 in May. I noticed the volatile swinging in this counter and decided to take some money off the table while still profitable. My reason is that it is still possible to catch CMZ on  its next downswing at the same or even better entry price than my original one. It made sense to free up some funds while the market had begun to slide, and many counters(some that I favor more than CMZ) were approaching 1-yr lows.

2. Sold Tee Land at 0.57 in June, on the second day of its trading. Managed to obtain some lots at 0.54 via private placement, this was purely speculative.

3. Sold all Valuetronics at 0.20 in June. I decided to cut loss as this stock was not going anywhere. Liquidity is bad, dividends had been cut, and especially when everyone is dumping dividend stocks, the upside is very limited and it had also struggled to touch 0.225 before languishing again at 0.20-0.205 level. Again here the reason is to free up more funds while I can.

4. Bought some Krung Thai Bank on SET at 18.00 yesterday. Thai market continued its selldown on Thurs and I managed to snag some on Friday. I have yet to place the second half of my order.

1. Thai Bev
2. Marco Polo Marine
3. CACHE Reit
4. Starhill Global
5. Krung Thai Bank (SET)

Portfolio currently has ROI of 13.42%, down from the peak of 23.17% in the mid of May. I have taken several measures like the above to prepare a decent amount of funds. It was also fortunate that I have cleared off Maple Ind/Log early, and did not try to hold on to attempt picking a top. There is still value in selected REITS and for now I am still comfortable with what I have.

Thai Bev remains the anchor of the portfolio, while the stock price has also taken a bit of a beating, so far it has held above the 0.60 mark. If it does break that support, it should approach 0.555 again, which was the price of my 3rd buy-in. I have prepared some funds for a 4th order if it does come to that price.

I am also watching Marco Polo Marine and will get more at 0.35. I do not intend to allocate much more to the local market for now.

SET short term Targets
1. Krung Thai Bank at 18.0 and 17.4
2. Bumrungrad Hospital at 72.0 and 71.8
3. TRUE at 5.5 and 5.0

Related post

1 comment:

  1. For anyone watching the market today, it was red all day, especially so for the Thai market. The Thai market is much more volatile than our SG market. This is expected due to the recent outflow of foreign speculators and the mess in China.

    Around 4pm today we had some good news from China which was about the time of the sharp reversal of the indices. The Thai market swung strongly into positive.

    I took the chance to sell Krung Thai Bank at $18.80. Why 18.8, instead of 18.7 or 18.9? I simply have no reason, I just like the number, this is a funny quirk I picked up from my idols, Khun Charoen and Khun Dhanin.

    Yesterday I caught a falling knife. I jumped the gun and bought TRUE far from the price I had set for myself. It was based on improving business in one of its business units. I bought at $6.40 yesterday and today it broke $5 but later rallied up. I was too late by the time I settled KTB as I was trading on my mobile, thus my order will be waiting for tomorrow, at $6.50, I hope to escape unscathed.

    Lastly, for our local readers, Thai Bev broke $0.60 finally to close at $0.585. FNN EGM should be coming up this Friday.
    Does anyone see a H&S coming? I am watching at $0.58 but this time I will only buy more if it reaches $0.555, no concrete reason.


Crystal balls and smoke

It's that time of year again, where we put everything down and engage in that archaic ritual of crystal ball gazing. Simply put, it...