KLSE888 portfolio manage to sell MEGB at RM2.30 today. 30% of profit pocketed within a month. Overall, whole KLSE888 portfolio stands at around RM6000 (20% increase from RM5000 capital within 1 months since inception).
Why did I sell MEGB when it is still bullish? My reason being simple:
- My target for MEGB is 30% profit.
- I had identified another stock which I think will bull in the coming weeks: GENS-C8 and GENS-CC.
I think GENS will outrun MEGB in short term, since MEGB had up by 30% since it's low last month.
Thus, I had swapped MEGB with both GENS-C8 (RM0.21) & GENS-CC (RM0.12)
Reason for me to choose GENS-C8 and GENS-CC:
- Genting Singapore is going to announce it's 1st quarter result on May 2011. I am betting it to be very good, due to CNY 2011 profit and also the disposal of the money-losing GEN UK business.
- I think the current mother share price will reached SGD2.20 - 2.25 (today's closing price is SGD2.12, 52-week high was at SGD2.35).
Downside for picking GENS-C8 and GENS-CC:
- Tan Sri Lim Kok Thay always give me surprises (e.g. last quarter loses).
- I don't have luck with Genting :D
I shall monitor the coming weeks to determine whether my decision is right or not. My target is for a 10 - 20% profit exit (period around 2 weeks to 1 month).
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