Sell @ $0.28
My last $0.275 ones bought in recent times for short term trades. A few reasons for selling,
- Free Up Cash – With many stocks -ve while Popular remains stable, this may be a good opportunity to switch and make my money work harder.
- Blackout Period – The last Shares Buy Back was on 8-Aug. The next Quarterly results for Q1 (Jul) is expected around 10-Sep (last year's date). IIRC, the blackout period is 30-days. If I'm correct, this means no price support at 28ct (Highest Shares Buy Back price to date) till then. Current price support may be due to the 1ct dividend which xd on 9-Sep but this may not be strong enough if mkt stays fearful and buyers dry up. Let's take a bet that I can buy back at 27.5ct within the 30-days.
- 8Raja Status – URA updates their site for Property Transaction on the 15th every month. For July, the 8Raja data looks puzzling – previously 3 sold in May, 1 in Jun ie cumulative = 4. But the Jul data shows 1 sold in Jul with cumulative = 2! Either the URA data is buggy or 3 units of 8Raja had been returned ie. Buyers decided to forgo their deposits and not proceed with the purchase….. The selling psf data is also lower for July and adds support to my hypothesis of the returned units…
Even if I'm wrong for (2) & (3), if the monies raised from selling is well deployed for other stocks investments, as per (1), it'd still be a good enough decision… Let's see, only time will tell… 😀