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Sell @ $3.26.
Quite reluctant to sell as they'd been lots of positive news lately of their various new orders. But, as xd date (23-Apr) approaches, am also afraid of a huge drop of more than Div = 12.5ct if history repeats. STI is bullish @ 3001, +15 makes me even more reluctant to sell. But, have to remind myself PE = 18.98 ; Yield = 4.74% is no longer that attractive unless I start to view it as a Growth Stock. Will likely switch to SIA Engg.
Can see a battle on-going between 1-lot buyer and seller, with the seller being more aggressive at this point. Buyer CP = CSFB, Macquarie.
1:55PM
Sell @ $3.30. My magic is working again. The moment I sell, it shoots up! I'm clearing my most expensive ones @ $3.266 (Buy on 7-Feb-11) first. In this way, I can consider to buy back the moment it drops to ~$3.26! Buyer CP – DMG.
5:05PM
Sell @ $3.29. Tried to Jump-Q for more $3.30 sales but the Q dropped at the last minute of matching. After the earlier $3.30 sell, prices weakened to ~$3.28 and that's what made me decide to sell more.. Buyer CP – UOBKH. Looks like the 'ang-mo' CP driven buy up is sucking in the local CP ones.
One possible explanation for the buy up is that with the better EPS for FY11, even the current PE of ~19 is still 'cheap' compared to the last 2 years' average of 20-21. If so, then there may be more room to run till $3.5x! PE was even higher at 24 during FY05 – FY07.
For me, take profit first. Let others make the extra 5% – 10%. I buy back again when it drops or if it doesn't, I switch to others which offers me min. 5% Yield.
The final tally for today – sold 2/3 of my holdings. I'm ok to hold the balance or to sell. I'm also open to start buying back at $3.26 based on my accounting recognition of selling the most expensive ones today ie. $3.266, $3.24, $3.215 + the cheapest ones $2.79.
Sell @ $3.17.
Decided to contra off and take profit. STI -26 @ 2956 while STEng +2ct after +6ct yesterday (-5ct the day before which triggered me to buy).
Someone is doing 1 lot buys throughout the whole day! Perhaps they are attracted by the news of STMarine winning a huge contract of S$880M from Oman with deliveries in '15 – '16. Buyer CP = JPM, Macquarie & CSFB, must be some kind of co-ordinated attack or a large buyer spreading the buys over 3 brokerages!