It is a good Friday today as our local society moves into Phase 2 Recovery from the circuit breaker. I could literally feel a sense of relief and joy of people when I walked around my neighborhood to do some “shopping”.
But the same cannot be said of STI. It dropped 1.16% today.
It has been a rather volatile week for STI – dropping sharply on Monday opening and then rising drastically on Tuesday opening. That was followed by 2 days of stability before the drop today. And guess what, after 5 days of volatility, STI was back to square one.
For me, this week has been a “Buy” week for me or more accurate, a “Buy” Monday as all the purchases were done on Monday when STI dropped sharply.
In my last post on Sunday, I mentioned that I was monitoring Hong Kong Land, Ireit Trust, Manulife Reit, Olam, SGX, Singtel, UOL and Lion-Phillip S-REIT ETF closely.
And no surprise, I was moved to buy two of them the very next day – Ireit and UOL.
I was definitely elated when STI rose on Tuesday as these purchases made immediate gain. I didn’t sell as I plan to accumulate them.
I usually trade (buy and sell within days) only in “extreme” volatility or I feel that the stock price overvalues the company. I am trying hard not to be a “trader”.
At the end of the week, they are still “Green”, so I am happy.
I will find time to review my watchlist and portfolio these 2 days but I don’t think it would change the ones that I am monitoring closely. If there are changes, I will share with you.
Have a great and fun filled weekend.