Tuesday, September 16, 2008

A Gentle Fall

STI extended its fall today, but ended the day with a drop of 25 points only. Considering over night Dow Jones went down by 504 points, this drop in STI is considered really small. Some of the counters actually even recovered a bit. For example, SGX managed to gain a bit today.

I learned the lesson of not to be greedy, so I set the exit point a bit higher for the not so good counter that I held a short position. Luckily, it triggered out. The counter is MapleTree Logistics Trust. I entered at S$0.68, but then it went up to 73 cents, and oscillating between 0.655 & 0.73. There is no sight of it going down further. So I am pretty happy that it was triggered out and I can still exit with a little bit of profit. Profit is better than loss, right?

Now, I am only left with 1 short position. I will let it run. The trigger point has been set to a very low price. Hopefully it can generate more profit to offset the huge losses from all the big 3 local banks' preference shares that I am holding :( The rate of falling of those preference shares is steep. I am losing almost S$1000 a day over the past two days. Sad...

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