January has come and go. Some believed that the worst is over and started picking up stocks aggressively while others feel that it is still over-valued and stayed at the side lines. I believe that the worst is not over yet but it is also an opportunity to pick up some stocks. Hence I continued my plan of nibbling STI ETF, added a bank stock and sold off another stock for capital gains.
1. Bought 100 shares of STI ETF at $2.70 and $2.60 respectively.
I do not know how low the index will go but I will continue to nibble at each 10 cents drop.
2. Bought 100 shares of OCBC at $8.360 and $7.70 respectively.
Besides O&G, banks bore the burnt of the recent sell down. Again, it is difficult to put a number on how low OCBC will go but my next buy point will be when STI hit 2,500, I estimate OCBC will be around $7.20.
3. Sold 1 lot of MM2 Asia at $0.595
To have more capital to buy OCBC. I sold it at a all month low and the price has since rebounded. I am not going to complain as it was a punt and I tripled my money. However I regretted not being able attend any of the free movie previews.
Received my first dividend of the year from Capital Mall Asia Bond and will be added to my cash portion.
You can view my entire portfolio here.
Do you think that there the market will fall further or is the worst over?