Friday, April 29, 2011

Golden Agriculture: Accumulation mode.

Anyone who has been following my blog recently would know that I have been accumulating shares of Golden Agriculture. Today, I bought more shares in the company at 66.5c a share. Do I intend to buy more if price should weaken? Yes, I would.

I am confident that the demand for crude palm oil (CPO) will strengthen as an edible oil as well as for the production of bio-fuel. With increasing affluence

Thursday, April 28, 2011

LMIR: 1Q 2011 results.

LMIR is one of my long time investments. My only grouse is with its losses which stem from foreign exchange forward contracts. In 1Q 2011, it lost $2.1m from these contracts. Some degree of hedging is necessary, I believe, but in an environment which has seen the Indonesian economy and its currency strengthening quarter after quarter, 100% hedging is unnecessary. Distributable income could have

What did AK71 buy today?

Sabana REIT at 94.5c.

In the morning, before the letters "CD" came on, there was some heavy selling but it was rather well absorbed and there was a long buy queue at 94c. This was after the price touched a high of 95.5c. After some initial hesitation, I decided to add to my long position and bought more units at 94.5c which happens to be where we find the 50dMA.

Technically, things continue

Cambridge Industrial Trust: 1Q 2011 results.

I must say that Mr. Chris Calvert, CEO of Cambridge Industrial Trust, has not failed suspicions that he could underdeliver. He did so and did so stupendously.

DPU declared for 1Q 2011 is 1.001c (XD 5 May 2011). This is to be paid on 14 June 2011. Annualised DPU is provided by the management as 4.06c. This is much lower than the DPU of 4.84c, post rights, as suggested by the manager. I blogged

Wednesday, April 27, 2011

Sabana REIT: DPU of 3.04c.

While chatting with some friends, I mentioned that I expect a maiden DPU of no less than 2.8c for Sabana REIT. I also said that I could be wrong and the DPU could be higher. I am happy to be wrong and a DPU of 3.04c was announced. The REIT will go XD on 10 May and the income distribution will be made on 16 June.

Some important numbers:

NAV/unit: 98c.
Gearing: 24.9%
Interest cover ratio: 7.9x

Cache Logistics Trust: Reverse head and shoulders.

I am rather excited by the price action of Cache Logistics Trust today. Price formed a wickless white candle as it closed at 96c, the neckline of the potential reverse head and shoulders pattern I mentioned in earlier blog posts. It remains to be seen if this resistance could be overcome. 96c is also where we find the 200dEMA.

If resistance at 96c were taken out, using Fibo lines, I see more

First REIT: Weakness on XD.

First REIT went XD today and its unit price gapped down, closing at 73.5c on the back of higher volume. Could its unit price continue to weaken? Acknowledging the lack of trend, let's look at the Stochastics and it is obviously falling from overbought territory. It could continue falling and we could see First REIT's unit price testing the support of its trading range at about 72c, given time.

Tuesday, April 26, 2011

Cache Logistics Trust: 1Q FY2011 results.

Higher DPU than forecast: 1.952c.
XD: 3 May.
Payable: 30 May.

NAV/unit: 88c.
Gearing: 26.4%.
Interest cover ratio: 9.5x

See presentation slides here.

The numbers are nice and strong. Although its distribution yield is lower than AIMS AMP Capital Industrial REIT, I believe that it is a premium that is well worth the money.

Looking at the chart, a potential reverse head and shoulders is quite

Monday, April 25, 2011

First REIT: Climbing the wall.

First REIT's unit price rose and closed at 76c today. It seems to have hit a wall. Looking at the daily chart and the EMAs, it is easy to see why. The 100dEMA is at 76c. EMAs give greater weightage to more recent prices and are useful in identifying shorter term resistance and supports.

Although the +DI is rising strongly and has the advantage and although the ADX seems to have begun rising as

Sabana REIT: Turning positive.

The last time I wrote about Sabana REIT exclusively was on 4 April when I mentioned that a positive divergence was rather obvious. I also mentioned that "a significant resistance presented by the declining 20dMA at 94c would have to be cleared first." The declining 20dMA has flattened at 93.5c by now and, today, price closed at 94.5c.

For the first time in a very long time, we see the +DI

Golden Agriculture: Long term uptrend is intact.

I have felt bulllish about crude palm oil (CPO) since 2009 and made some money divesting my investment in Golden Agriculture in 2010 when its share price shot through the roof. With the fundamentals of CPO still strong and likely to strengthen with the higher price of crude, I am convinced that Golden Agriculture will do better in time and I traded its shares on a few occasions as well.