Saving & Spending
Capitaland: Average buy price of $2.81.
By A Singaporean Stockmarket Investor (ASSI)  •  June 16, 2011
Readers might remember that I said I was waiting for a chance to reduce exposure to this counter. It means waiting for a rebound to reduce at resistance. I do not like selling as prices are on their way down. Of course, as I have mentioned before, this is also a flaw in my methods. If there should be no rebound, then, it is more stocks for the freezer. However, if we believe that downtrends are rivers of hope, then, rebounds are just a matter of time.
With Capitaland, price has continued to drift lower for a month or so now. No rebound. Some traders have thrown in the towel and called it quits, selling away their shares. This, to me, shows fatigue amongst long holders and, perhaps, many, if not most, of the would be sellers have sold. The counter's share price would have a better chance of going higher then.
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By A Singaporean Stockmarket Investor (ASSI)
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