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CitySpring Infrastructure Trust: Rights issue.

I divested my investment in CitySpring Infrastructure Trust last year in October. At that time, the Trust was trading at 60.5c/unit. Long regarded the investment as a mistake, the divestment was premised upon the Trust's weak fundamentals and relatively low distribution yield.

The Trust's last done price was 53.5c/unit today and its managers announced a rights issue to raise about $210.2

Mr. Market is always right.

I blogged about my partial divestment of Saizen REIT as price gap closed at 15c. I still retain more than 10% of my original investment in the REIT. See blog post here.

As Saizen REIT was the largest investment in my portfolio, making up some 40% of total funds invested (excluding funds in my frozen portfolio), the amount of money released was no small change. Leaving the money in the bank was

Saizen REIT and Sabana REIT.

Moody’s Investors Service has upgraded Saizen REIT’s corporate family rating to B1 from Caa1 following the conclusion of their rating review.

The stable outlook reflects Saizen REIT's improved liquidity and the absence of material refinancing needs in the next two years.

Read announcement here.


Sabana Real Estate Investment Management Pte. Ltd., the Manager of Sabana Shari’ah Compliant

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Golden Agriculture: Strong resistance.

I am still bullish on the long term fundamentals of crude palm oil. The more robust demand for the vegetable oil in emerging economies, especially in China and India, will provide a floor to any correction in price.

A correction? Yes, prices do not go up in a straight line. If prices do move higher, they climb a wall of worries.

The share price of Golden Agriculture is finding it hard to move

Selling shares of Capitaland and CapitaMalls Asia.

I did a contra on the shares bought earlier in the week for Capitaland and CapitaMalls Asia yesterday. To me, the way in which the share prices were moving higher on lowering volume did not look sustainable.
Downtrends are rivers of hope, no doubt, but I would not get too hopeful especially if the technicals hint of a weak rebound. Lock in some gains and let others take on the higher risk of

Balancing AIMS AMP Capital Industrial REIT and Sabana REIT.

I have been kept busy the last couple of days. By the time I took a shower and called it a day, it was technically night since it was already past 11pm. It is the same thing today. Hopefully, I will be more settled in another week or so. Till then, I can only hope to blog more regularly.

So, what have I been doing in the stock market?


I increased my investment in Sabana REIT while reducing my

The long awaited technical rebound.

I keep saying that downtrends are rivers of hope and that prices do not go down in a straight line. This is quite natural but in despair and desperation, it is all too easy to give up and throw in the towel. This is capitulation.

Capitaland and CapitaMalls Asia are both in downtrends. This is quite obvious. With no signs of reversals to the upside, I recently added to my long positions with the

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CapitaMalls Asia: Bought at $1.37.

Similar to Capitaland, I am still waiting for a technical rebound in the share price of CapitaMalls Asia before reducing exposure. The counter is dreadfully oversold and a technical rebound is probably overdue. However, in extremely bearish circumstances, a counter could stay oversold for a very long time. As always, a huge dose of luck is required.
Today, I bought more shares of CapitaMalls Asia

Golden Agriculture: A steeper trendline resistance.

Has Golden Agriculture's share price turned bearish? I would not say bearish exactly since the uptrend that started on 23 Feb 2011 is still intact. However, the inability to form a higher high is worrisome. Having said this, price could go as low as 66c in the next couple of sessions and the uptrend would still be intact.


Looking at the chart, the trendline resistance that started on 30 May

Staying positive on S-REITs.

In the recent weeks, shares of property developers, telecoms companies, commodities companies, shipping companies, gaming companies etc have mostly declined in price.

So, in a sea of red, is staying uninvested the way to go? Very probably, many are doing just that. Personally, I am staying invested and mostly in selected S-REITs. In an environment of greater volatility, S-REITs' unit prices

Capitaland: More downside?

My purchase of more shares in Capitaland yesterday at $2.81 per share, unfortunately, did not turn out well. Today, its share price closed at $2.75, the day's low. There are some very determined shortists. The bears have won for now. Well, this is the risk one has to accept if one were to go long in a downtrend when there are no clear reversal signals. Too bad for me.

I am going to employ Fibo

Golden Agriculture: Contra at 68.5c.

Golden Agriculture saw 90,289 lots changed hands today with 15,147 lots done at 68.5c after market closed.



In my last blog post on Golden Agriculture, I identified 68.5c as the immediate resistance as provided by a confluence of the 20d, 50d and 100d MAs. So, I put in a sell order last night for those units which I bought at 66c yesterday. My sell order was filled, locking in a gross gain of

Capitaland: Average buy price of $2.81.

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

Golden Agriculture: Bought at 66c.

Been another long day and I just settled down at 11pm or so. Will be another couple of weeks before I settle into a new routine. Until then, I will be blogging sporadically.

Today, my buy order for some shares in Golden Agriculture at 66c was filled. I also have another buy order at 65.5c which was not filled.


65.5c is at support provided by the trendline which started on 23 Feb. So, buying

Cheap shopping and makan in Johor Bahru?

I have not updated my blog in two days and I am suffering from withdrawal symptoms! So, what have I been up to in the evenings? They were spent packing and moving stuff. When I say moving stuff, it means moving stuff from the city fringe to the remote western part of Singapore. Imagine the journey, to and fro! Of course, there would be some cleaning up as well. Actually, a lot of cleaning up.

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My diet and dietary supplements.

I have blogged about some low cost meals which I could get outside as well as some which I cook at home. Some readers wonder if I eat like that all the time and some wonder if I could suffer from nutritional problems. I guess readers would only know as much as I reveal in my blog and, often, the picture is incomplete.
The answer is "no". I do not eat like that all the time. I enjoy a good

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CapitaMalls Asia and Capitaland: Daily versus Weekly.

The possibility of a positive divergence panning out for CapitaMalls Asia still exists. With a lower low in its share price, the MACD has stayed at a higher low. However, it seems to be having some difficulty making a positive crossover with the signal line.


I decided to look at the weekly chart and found that the MACD has just gone lower than the previous low. A lower low on the MACD in the

An elaboration on my methods.

Someone asked me why have I given up on NOL. Naturally, he asked this after reading my blog post on NOL last night which was a rather short blog post and quite unlike my usual style. Well, the facts were simple and brevity was appropriate.

The reason for buying more shares in NOL is no longer valid, from a technical perspective. I buy in a downtrend only when I see the building up of a positive

NOL: Positive divergence negated.

NOL's positive divergence has been negated. The ADX suggests a strengthening downtrend.


After strong moves downwards, a rebound is possible and if it were to test resistance, it would be a good opportunity to reduce exposure.