First reit weekly:
First reit had been very good to me, with its high dividend yield and the very low capital cost after the rights exercise. But I had parted ways with it for the time being. The charts both at weekly and daily level doesn’t look good. Both weekly and daily show a bearish divergence with today (7th July 2011) showing relatively higher volume plus a doji (you candlestick experts might have a different name for it, pardon me).
I’ve been doing partial divestment of first reit since June to reduce my position, but it went up and up. It’s ok, I don’t have to capture the peak and I’m super happy with the returns. Will get it back at another opportune timing again.
As a sidenote, after weeks of queuing everyday after market hours to sell, the queue finally hit around afternoon today. Why today? Perhaps …