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Wednesday, June 17, 2009

Selling for profit taking

I managed to offload all of my ST Engineering and SMRT Corporation shares today and both were done when Singapore stock market made a reversal comeback after lunch. All in all, it was an exciting trading day with the most number of shares ever transacted on any single day for me. The price sold was the highest intra-day traded price.

My reason in selling away ST Engineering for a small 3% profit is because of an impending correction. Another reason is due to a news report published by an Indian company on ST Engineering which I see it as negative. That news was not (not yet) reported on local media.

As for SMRT Corporation, reason in selling is very simple - an impending correction. I am glad to "run" with 13.4% profit.

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