Starhill Global: Sell Order Fulfilled @ $0.565

I divested a small portion of my holdings on Starhill Global. The divestment amount will be channeled back to me as cash. Admittedly, I made a slight loss on this transaction but I needed liquidated cash to meet my personal expenses and to take further advantage when AIMSAMPI decides to go into depression mode again.

I have always maintained the 80/10 rule (I wrote a post about it). However, for this month, I am clearing my ORD leave and spend most of my time at home. Without SAF's free food, I am left to be robbed mercilessly by inflation of food prices outside. Suddenly, my favourite duck rice costs $3.30, upped from $3 and with an unsightly reduction in rice quanlity. Shucks. 

And with an ORD dinner treat to my family, and gotten myself a pre-owned Iphone 3GS, I am literally broke. The liquidated cash from Starhill Global will help replenish my scarce cash asset.

I am still waiting for my last NS allowance to arrive and hopefully, a job would follow suit after NS.

AIMSAMPI: Buy Order Fulfiled @ $0.945

Here we are again, seeing another buy order done for AIMSAMPI on another strong support.

I upped the buying bid from $0.940 to $0.945 yesterday night. I believed that the low volume seen on AIMSAMPI for the past few days was an indication that the price could have striked a hard floor. Yes, a hard floor is a very strong support and if it was a bottom in disguise, it could rebound strongly in the next trade. That was my early prediction.

But things didn't go well this morning. The price sank to $0.935, below the lowest low of $0.940 (my intended buy order) for 2011. Say to the main point, I was tricked by the volume data and upped the buying bid where I was supposed to get the buy order done at $0.940. Anyway, a good lesson learnt - if there are still rooms for the price to fall further, it will fall. 

The next strongest support line is at $0.920 - the lowest low for the next-half of 2010.

AIMSAMPI: Buy Order Fulfilled @ $0.955

Seizing the opportunity of a short downtrend of AIMSAMPI, I added a small amount of shares at $0.955. I wanted to load AIMSAMPI at $0.950 but the buy queue at that price level was too strong. So I upped the buying price to $0.955 and fulfilled it.

As an investor who looks into support levels to buy a stock, I identified two strong supports at $0.940 and $0.920, respectively. To explain things further, $0.940 was the lowest low for 2010 and $0.920 for next-half of 2009. My next two buy orders shall be on these supports:

Buckle Up Your Seatbelt!

Since the elevation of the US debt ceiling in Aug 1 which triggered worldwide financial storms, the largely-worried symptom of a global-scale economic depression is becoming a reality. Banks around the world are confirmed tightening up the credit. With tightened credit control, businesses will have difficulties borrowing moeny from banks to finance their operations. New businessnes can't survive without a decent amount of loan to feed their fragile cash flow foundation. Old businesses too, will run into problem trying to expand or even to sustain their current cash flow.

Singapore will not be spared this time. We are an open economy that relies pretty much on others to survive. With the fall outs of the Eurozone and US, one could probably say we still have China and India to lean on. But let's be realistic, the businesses that jacked China and India to their economic powerhouse position came from the Eurozone and US. Without these investments from the West, the two Asian beasts cannot achieve their prosperity today. In another word, negatively-speaking, if the West collapsed, China and India will bump into a recession.

Singapore depends heavily on these economic powerhouses and it seems that all of them might just fall sick next year and we will have a big problem. That implies mass unemployment, reduction of pay rolls, standards of living, collapse of the stock market, etc.

Personally, having predicted this scenerio many months back, I refrain from investing my money into the stock market. In fact, I am seeking to divest part of my riskier counter. With more divested funds returning back, I get to lower the risk on my portfolio and be ready once again to exploit the stock market. Remember - cash is king. If the economy depression arrives next year, we will see the stock market falls into the abyss. That is when many savvy investors and I shall exploit cheap shares and wait for the big bang once the economy recovers.

I may sound too pessimistic but I am always cautious of such economy earthquake. This is no joke to begin with. The 2008 economy downturn already wiped out many over-optimistic, naive people whom thought that the collapse of the US banking system was just a temporary effect of an overheated economy and remained positive that stocks were still heading north. Too bad for them, stocks headed straight south and never returned to the pre-2008 since. Many of them burnt their fingers.

But opportunists seized the chance and took cheap shares away. Many became rich in less than 3 years. Do you want to be the naive optimist or the smart opportunist?

Time to buckle up your seatbelt if you haven't!

3Q2011 Dividends Announcments

AIMSAMPI and Starhill Global have announced their 3Q2011 dividend payouts respectively.

AIMSAMPI, in its financial presentation ended Sep 2011, announced that it will pay a DPU of 2.50 cents or $0.0250 to its shareholders. AIMSAMPI's unit consolidation exercise didn't affect its DPU.

AIMSAMPI: 2QFY2012 Financial Presentation


Starhill Global, announced 1.00 cent or $0.01, slighly less than the DPU in 2Q but same as last year's 3Q.

Starhill Global: 3Q2011 Dividends

Overall, I am pleased with both REITs. However, I am waiting to divest Starhill Global in the future due to declining office property outlook, increasing volatility, and the desire to seek another REIT (preferbly industrial) that pays higher DPUs than office REITs. My choice would be either Sabana or Cache, depending on their stock performance.

First REIT: Sell Order Fulfilled @ $0.805

Bought this stock on Sep 30th last month at a price of $0.755. Read the entry here. Based on past data analysis, $0.755 is within the zone of "price reversal". In another sense, any price downtrend that sinks to the range between $0.73 - $0.76 would most likely to experience a reverse in trend from down to up (very short term, that is). Indeed, barely a month after the fulfilled buy order, the price reversed into uptrend and went straight up to $0.805 before I dropped a sell order last night.

From the graph chart, $0.8 is a strong resistance that was tested 3 times since June. Notice that for the past 2 times tested, the price reversed from uptrend to downtrend. I won't be surprised if the latest uptrend reverses into downtrend after breaking the $0.8 resistance. Further more, when market sentiments are relatively weak, any rapid uptrend is unsustainable.

Realising this, I quickly left a sell order of $0.8 last night. The sell order was done at $0.805 this morning and I locked in a decent profit.

First REIT: Buy Order Fulfilled @ $0.755

Yesterday, I spent the night analysing First REIT's graph chart to predict any possibility of its price maintaining at $0.755 when I hit the buy order the next day, which is today. Looking at both ADX and MACD indicators, I sense the possibility and went ahead with the buy order to acquire my first lot on First REIT. In fact, I bought this REIT at $0.755 not long ago but sold it after it quickly bounced back and locked in a small profit.

This morning the price unexpectedly went up to $0.76 despite increasingly downtrend strength and my buy order was put on hold. At that point of time, I could cancel the order and launch another one at a higher bid of $0.76 but knowing the erratic nature of a per-day trading pattern, I gathered my little patience and waited for the price to get weakened. My effort pays off eventually. The price indeed came down to $0.755 for a short while in late afternoon before returning back to $0.76 again. It was this short while that I acquired my first lot of First REIT.

So what's my next move? After series of stock market shocks since Aug, I have realised which REITs are more resistant to price fluctuations. My Starhill Global, being a retail REIT, fluctuated more than AIMSAMP (industrial) and First (healthcare) despite having a lower dividend yield. When the stock market improves and prices test resistance again, I will look forward to partially divest a few lots of Starhill Global and channel these returns to First. This is to reduce my portfolio's overall volatility and enhance overall dividend earnings.

Another good news is that AIMSAMP is currently undergoing a major unit consolidation which will seek to reduce volatility. In another word, the already-stable industrial REIT will become even more stable as a result.

Huge Market Selloff Again

After several weeks of price sideways, a huge wave of economic turbulence rocked the stock market yesterday and today. Yesterday was the worst punishment for cynical stocks, with my 2 REIT counters fell through their resistance prices.

AIMSAMP REIT, 26/9/11

Looking at the graph, this REIT seems to be relatively stable as price hovered around $0.205 and $0.20. Yesterday it fell down to $0.197, barely missing the $0.195 strong resistance and also the most ideal price to enjoy above-10% dividend yield. The last time it scrapped this price was in March, the month of the Japanese multi-disasters. With enough investable cash, I launched a small buy order at $0.195 but was not fulfilled due to large buy orders queuing up for the same price. Well, a lesson learnt today - if $0.195 seems pretty attractive for many investors, why not try $0.196? After all, $0.196 is still an ideal price. 

AIMSAMP REIT, 26/9/11 (including 2010)

I posted this graph, same as above but with much longer term that stretches all the way back to 2010. The rationale for this is to trace the next lower resistance line. $0.19 might seem to be the next best price but I personally prefer $0.185. This is because the $0.185 resistance price was tested twice in the graph before the next bullish uptrend. Still not get what I mean? Looking closer to the graph, you see that at both May 2010 and Jun 2011, this REIT tested the $0.185 after a downtrend and quickly reversed into an uptrend.

Using the ADX indicator, the DI+ has crossed below the DI- which suggests a bearish signal but the ADX line tells me that the bearish sentiments are relatively weak.

Starhill Global REIT, 27/9/11

This REIT took a greater hit than AIMSAMP, with price fell to as low as $0.575. I guess that is because of the riskier nature of retail real-estate as compared to industrial real-estate, thus explaining the higher volatility of Starhill Global. Let's take a look at the longer-term graph. 

Starhill Global REIT (included 2010)

The first thing that captures my attention is the ADX indicator, which suggests a downtrend with increasing strength. The ADX line has moved above the 20 value. If the price breaks through the $0.575 in coming days, there is a chance that it might reach the $0.55 resistance line. Notice that this resistance line was tested last year before price went for a huge uptrend. $0.535 and $0.51 are also possible regions for the price to descend. 

That's all for the painstaking efforts to analyse my counters.

No Plans To Enter The Stock Market

Once again, another bloodbath washed the stock market. My 2 counters are directly hit as expected. AIMSAMPI remains relatively stable while Starhill Global hits another new resistance of $0.59. I never expect this retail REIT stock to fall so much in a single-day trade, considering some positive news emerged from its plans to acquire more assets in downtown Singapore. But would I get into the market and buy the REIT stock at another new low? No.

As mentioned recently in one of my blog posts, "Next Move- Investable Cash", I am focusing my priority now on cash that will be used to invest on shares during major economic shocks. The latest bloodbath is not a major one since so many similar shocks have rattled the stock market recently. I am referring to the one similar to the 2008 economic recession where stocks above $1 now were traded as low as $0.10. Furthermore, I have abandoned the strategy to average down my dollar cost purchases. I don't have that sheer size of funds to carry out multiple purchases at each new low. Even when it reaches a strong resistance, I still need to employ technical analysis indicators and compare the trend to latest financial headlines to see if there are more rooms for further dips. The market is very volatile now and I am being extra vigilant to stay put on my plan for the time being.

With my investable cash increases over the next few months, I am looking to buy another counter, preferably First REIT, a defensive healthcare stock that adds a good dividend of 8%. Another healthcare stock, PLife REIT, is actually more defensive than First but looking at the updated 5.7% inflation rate, PLife's conservative dividend rate of 5% could not surpass it. Furthermore, it is very overvalued (NAV is only $1.39 but market price is $1.84). At such a volatile period, I am looking for dividend income instead of growth.

In the meantime, I will continue to read blog entries written by expert investors and study their ways of investment.

Next Move: Investable Cash

I don't regard any investment as risky unless an investor puts his money in a ponzi scheme, an unprofitable company, and his own ignorance. But not having a pool of investable cash is risky.

Since venturing into the stock market a year ago, I have been filling my trading account with investable cash that will be used to buy stocks. I never used up the cash pool as I was entirely new to the stock market investment. After accumulating some experience and spotting the potentials in REITs, I gobbled up shares of various REIT companies until the cash pool was almost dry.

Realised that the cash pool was almost dry, I pressed the 'stop' button and ceased all future stock purchases. Why? There are two reasons a pool of investable cash must not be dried up. First, investable cash will come into handy during emergency times. I am not saying the economic emergency but your own emergency. That is, should you encounter any emergency in yourself or your family, and require urgent money, you can withdraw investable cash immediately. Don't ever think about selling stocks to liquidate cash - it's either you wait for many days for the liquidated cash to return back, or you clock real losses if the market moves down. And second, investable cash will provide you the golden opportunity to take advantage of a massive market downturn. During the 2008 recession, those investors having a large sum of investable cash took advantage by gobbling shares of strong companies at a ultra-discounted price, allowing these nobodies to become today's millionaires in just 3 years.

As of now, my investable cash is slowly restoring back after adding in NS allowance and stock dividends. I am looking forward to sell and liquidate some of my holdings in AIMS and Starhill Global when they are ready to test the resistance lines in coming weeks, using the strategy of "buy at supports, sell at resistance". The liquidated shares will go to the investable cash.

The market is relatively unstable now and economic sentiments are weak. While I can't say for sure whether there could be a worldwide economy crash, I can sense the debt pressure is rapidly building up among developed but debt-flooded economies. Once the pressure has reached the boiling and could no longer be contained, banks around the world will collapse (the same way as 2008) and another global economic recession will happen. This time round, without China to save the day (the dragon itself is hibernating due to economic slowdown), things can get very nasty.

As said, I am preparing for the worst scenario and thus a large sum of investable cash must be present.

Hit-The-Supports vs Averaging Down

Hit-the-supports and averaging down are investment strategies employed by stock traders and stock investors to time their entries into the stock market. Hit-the-supports strategy involves buy orders at new lows and is a counterpart to another extreme side known as hit-the-resistance which involves buying the stock at new highs. It is a strategy to enter the depressed market at the best possible timing, which implies that the stock may have reached its bottom using various TA indicators to measure the price dive. The buy order interval is an one-time, sharp and straight purchase at that best possible price, unlike averaging down which involves multiple purchases at different prices. There are differences the two.

1. Level of Experience

Hit-the-supports strategy requires experience and skills needed by the investor. It is used by both very short-term traders and mid-to-long-term stock investors. This strategy requires the investor to have certain experience on technical analysis using graph charts and technical indicators to predict further possibilities for the price to dive. If various indicators tell the investor that there are little rooms for more price dives, it implies that the stock may have bottomed out and could be ready for a new bullish rally.

Averaging down is a layman strategy. It involves the investor making multiple purchases at different prices while the market is still depressing. There are downsides to it, however. This strategy is most likely suitable for rich investors who are too lazy to care about technical analysis but willing to fork out a lump sum to net up shares at different prices to lower down the average dollar cost. But for small investors like me, I would most likely run out of steam before the stock bottoms out. I have since ditched this strategy in favour for the hit-the-supports after accumulating certain experience on technical analysis.


2. Size of Funds

 

Using the above graph chart as a reference, in the period between the first and the third week of August, Starhill Global experienced a significant price dive from $0.66 to $0.585. Investor A employing the averaging down strategy would make multiple 1-lot purchases at, let say, $0.65, $0.60, $0.59, and $0.585, for 4 lots amounting to $2425, with an average dollar cost of $0.606 per share. Another investor, Investor B employing the hit-the-supports strategy would make a single 1-lot purchase at the support line of $0.585, amounting to only $585. Which one is better? If you have limited funds but experienced in technical analysis and knew where is the likely bottom support line of the stock, go for the hit-the-supports.

3. Rate of Rebounding

With reference to the above graph chart, Investor A has bought 4 lots of Starhill Global at different prices, with an average dollar cost of $0.606 per share. When the stock finally rebounded slightly at the end of August from $0.585 to $0.625, Investor A enjoys 1.9% capital gains. But for Investor B, with an avearage dollar cost of $0.585, enjoys 4% capital gains, which is a double of what Investor A enjoys.

Survived The Second Market Dive

We are several days into the second market dive (this time caused by worsening Euro debt crisis and US high unemployment) and the worst seems to be over. Once again, my REIT counters have resisted themselves well against the latest market dive, second in a row since August.

For example, AIMSAMP did not dive below the $0.2 and Starhill Global floated well above $0.6 in the starting week of this month. This performance shows that the second market dive is less of a destruction than the first one in August. Admittedly, my counters are still in the sea of reds, but this time paper losses are minimal. This is partly because of my averaging down strategy where I bought shares from time to time as prices dived in the first market crash. But I won't employ this strategy again as I realised that my funds are very much limited as a small novice investor. The next time when another major stock storm approaches the shores, I would employ the hit-the-supports strategy, which states that a stock investor would only buy new shares when the prices hit a support line and not when it is falling halfway down. As the saying goes, never catch a falling knife. Pick it up only when it has dropped onto the floor. Hit-the-supports strategy would definitely allow me to sleep well at night and let my counters spin back to green at a much faster rate than averaging down, at only a fraction of the funds needed. I will explain this in detail in my next blog post.

Some conservatives have commented that my highly-concentrated exposure to only two counters which are purely REITs (not blue-chipped ones like CapitaMall) is dangerous. I beg to differ. In the series of market dives since 2008 recession, both of my chosen stocks have displayed the resilience that is needed to sustain my claim that you can be highly-concentrated, almost dangerously, but very safe. Of course I don't recommend you to throw your eggs into one basket but how about two? I am doing that now and my wounds are only this minor. Had I diversify my stocks across many "safe bets", not only my dividends are much lower but in a market dive, even blue chips are not invincible. At least the fall in prices of my counters are partly compensated by their high dividends.

This is why I can sleep well at night without worrying so much about my investment. Just have a plan, a formula, a strategy, and a goal and you are on your way to success.

If You Want A Reliable Product, Buy Apple!

I have a 3rd-gen Ipod Touch. It is 1.5-year-old. I bought it during the first 4 months of my NS. Whenever I suffered grievances in the camp, this little gem will be there to heal my wounds with its wonderful features. However, due to the 'roughness' of NS, there were occasions where my little gem got itself hurt.

The first impact was a 1m drop from a locker. The LCD was flickering at first when turned on but later disappeared as months passed by. It also survived when I accidentally placed a fully-loaded fieldpack onto it. No crack, no deform, no scratch, and everything was well and running.

The second impact was a severe water damage during a heavy rainfall which soaked me and my entire bag with the device inside. The backlit was not working, the touchscreen became insensitive and there was no sound. After a search on the net, I was advised to dry the device as there are pockets of water still left in it. I left the little gem in a dry cabinet and turned the settings to "zero humidity" a.k.a. full dryness. After 3 days, the backlit came back to life but the touchscreen was somehow not responsive to my fingers. After a week, it too came back to life and the whole device was running again. It survived the first water damage.

The third impact was also a water damage. The cap of my BMT-era bottle came loose and a small amount of water leaked and flooded a compartment of my bag which contained my little gem. The backlit was knocked off for several days and slowly it came back to life again. I was utterly impressed by Apple's durability in its manufacturing of Ipods.

Seriously speaking, I haven't seen anything that can survive multiple impacts without permanently knocking it out of action. Apple products have certainly lived up to its reputation which explains its massive popularity nowadays. No wonder Apple's shares is standing at a whopping US$374.05 as of today.

If nothing goes wrong with Apple's QC and reliability following Steve Jobs' resignation, my next choice is an Apple. I am looking forward to purchase the highly-anticipated Iphone 5 after ORD and a Macbook for my university education.

Investor vs Entrepreneur: Both Are The Same, Actually

This comparison between a stock market investment and a down-to-earth business came to my mind long ago but never had the interest to write a blog entry. Today, as I read more books on investment and business, I find similar traits that exist between the two.

Going into the technical details, both are largely similar, and even related to each other:


Raising Capital

You need a certain amount of capital to start both investment and business, depending on the current market price for the stock and the current market value for the business. Investors and entrepreneurs are raising capital to start their dreams, either by working as an employee, pairing up with partners, or borrowing funds from financial institutions. A entrepreneur can raise capital through investment in the stock market, while an investor can also do that through earnings proceeded from his business.

Knowledge and Experience

Both investment and business require vast knowledge and practical experience in order to do well. An investor and an entrepreneurs spend many hours on research before and during their course of investment/business, by reading books, acquiring techniques from experts, sharing of knowledge through partnership, attending seminars, and most importantly learning from mistakes.

Objective

Both worlds seek to earn money, what else can there be? But unlike an investment, a business doubles up as a platform to satisfy societal needs. For example, a car business aims to satisfy the needs of affluent people with transport convenience and social status.

Counter vs Outlet

Any investment or business requires a platform to grow. In an investment, a platform is known as a counter. An investor buys a stock and it automatically becomes a counter. Likewise, a entrepreneur starts his business in an outlet, can be in the form of retail store, a showroom, an office, or street venture depending on the nature of his business. But unlike a counter, an outlet needs physical maintenance and staffs to run the show, which translate into a higher price than the investment which is nothing more than a digital figure presented on the computer screen.

Communication

A private investor who operates on an one-man show does not need to have a set of good communication skills, especially in this Information Age where internet has allowed private investors to skip communicating with their stock brokers and financial managers. Private investors are no longer depending on these 'middlemen' to carry out basic routines such as buy/sell orders. On the other hand, public investors who are working for investment institutions such as DBS Vickers Securities, as stock traders or stock analysts need to communicate well with their clients. Unlike a private investor, a successful entrepreneur is a powerful communicator. Good communication will produce good businessmen. All businesses are public. Entrepreneurs need to communicate effectively with their buyers in order to sell their products.

Human Resources

If there is any major difference between the two, I would say it will be the human resources. A business requires a CEO, various managers, executives and junior workers (unless it's a sole-proprietorship which doesn't sound like a business to me due to its one-man show structure). Investors do not need that kind of hassle structure. They are everything themselves. They research on new stock products, manage their own investment accounts, analyse the stocks via fundamental analysis and technical analysis, buy and sell stock products themselves, etc. Investors are like sole-proprietorships but require no registration, no communication, no physical outlet, and lower capital.

***

End of the day, I would say that both are the same, actually. An investor is a businessmen and a businessmen is an investor. Sounds complicated? A businessmen invests his time and money on a business while an investor too, invests on stocks that are part of the business. For example, I own part of AIMSAMP and Starhill Global through shareholdings. There are disparities between the two but ultimately, on a personal agenda, is to earn money, and on a macro agenda, is to start a business or investment and work towards one's goals.

Well, no doubt some people will not label an investor as an entrepreneur. But having carried the same set of elements and skills as an entrepreneur, there is this term known as "entrepreneurial investor". That is, to invest on the stock market from the perspectives from an entrepreneur. So, when people ask me whether do I own a business, I would reply with a yes. I own businesses via shares and there are already the company's management and board of directors to perform all the daily operations for me. If the company no longer meets my expectations, I will sell away this counter (like closing down a non-profitable outlet), identify another good company and invest in it when the correct timing permits.

The Return of Bulls?

A quick glance on the charts of my two sole winners, there appears to be a turning point from August's stock market landslide to September's returning of optimism.

There is no difference between the charts of my two counters. It appears that the whole stock market is rebounding, exactly a month after the painful US debt crisis. But there is no guaranteed answer to that because the market sentiments are still relatively weak. Although the MACD line of both counters have crossed above the 9-day signal line, the momentum for an uptrend is absent because the lines are below the "zero". Furthermore, three of my longer-term moving averages are still suggesting bearish sentiments.

But Starhill Global, in particular, has broken the 200d resistance line. It could hop into an uptrend if it breaks the 50d and 100d next. No regrets investing in Starhill Global as it is fundamentally a strong company that regains public confidence fast during a downturn.

On the other hand, AIMSAMP still needs some more strength to push itself above the next three moving averages. But I believe it will eventually break through those resistance lines identified by the MAs.

More Good & Bad Days?

Well, the title may sound contradicting but that is the dilemma that I am facing right now as a REIT investor. Let's start with the bad news first (I always believe the bad one must go before the good one).

REIT Data (found on INVS 2.0's sidebar) reported that office REITs may not perform that well after all, given that the present economic climate is ill. Personally, I subscribed to this theory. Office and retail REITs are not very resistant to economic fluctuations. For example, office rentals based on the financial industry would be badly affected by a global economic recession. Retail industry, especially in the local context, depends heavily on tourist arrivals to sustain or boost their rental incomes. In a bad time like now, I expect tourism to decline which could spell troubles for office and rental REITs. Fortunately, things may not be as bad as I thought. My holdings on Starhill Global REIT, which based on office and retail industries, has a stable fundamentals and survived the 2008 crisis. I believe Starhill Global REIT's board of directors can partake defensive measures to ride out the latest series of economic shocks.

That's all for the bad news, shall we continue to the good news?

AIMSAMP-REIT has proposed unit consolidation. Under this practice, a shareholder could enjoy the privilege of a new share for every 5 shares held. Meaning, if this practice is voted in by shareholders in its upcoming annual general meeting, I could received an additional of 5200 shares for my existing 26000 shares of AIMSAMP-REIT. This is to reduce the risk of this stock via lowering volatility and market capitalisation.

I quote the S-REIT article on this latest unit consolidation by saying:

AIMS AMP Capital Industrial Reit Management Limited yesterday proposed a five-into-one share consolidation, which will see shareholders receive one new share for every five existing shares held as at a book closure date to be announced.

The company currently has 2.207 billion issued units.

The company believes that the proposed share consolidation ‘may serve to reduce the magnitude of volatility of (the Reit’s) unit price and market capitalisation’ as well as ‘improve the profile of (the Reit) among institutional investors’ and ‘improve the coverage of (the Reit) among research houses’.

Said Tang Buck Kiau, head of finance at Aims AMP Capital: ‘Based on the current units, a volatility of 0.5 cents in unit price impacts market capitalisation at 2.38 per cent. After consolidation, volatility will go down to 0.5 per cent.’

The company said that it is seeking unit-holders’ approval for the implementation of the unit consolidation by way of an ordinary resolution at an extraordinary general meeting to be convened.

Following this, it will make an application to SGX for approval for the listing and quotation of the new shares arising from the consolidation and will despatch a circular to shareholders setting out the details of the move.

The counter closed down 0.1 cent at $0.199 yesterday.

I am further convinced that the board of directors are taking care of the shareholders' welfare and have no regrets invested heavily on this REIT. I am planning to load up more shares this week, should the price hits another historic low of $0.195. And I wish Starhill Global could do the same. Wishful thinking? Well, it did it in the past, why not now?

Portfolio Update - 19/8/11

AIMSAMP-REIT - 26k

Starhill Global REIT - 15k

The financial bad blood is making headlines again. Just as the global stock market was settling down, things took a dive when disturbing news broke out. US and Europe are once again, stock market woes.

Upon realising the second bad blood is approaching, I quickly divest First REIT at a little profit before it gets knock down. It also reaches its NAV - an indicator that signals me to sell in my personal practice.

But I bought more shares of Starhill Global REIT at an even more remarkably discounted price! Remember in the previous post, I said $0.605 was a strong support line. It reached the line yesterday and I moved in to drop down my order but when today's stock market reopens, it dips further to $0.595 and my order was filled at this very amazing price. However, based on technical analysis, this new historic low now opens for more rooms for the price to dip. I won't rule out this counter hitting somewhere near to the 2008 crisis level, should more negative news emerge in coming days. And I would buy more to average down my cost if that happens.

Now I have succeed in my preemptive strike against Starhill Global REIT. The next one shall be AIMSAMP-REIT. I also mentioned its $0.195 historic low before. Let's see if it can reach that level based on my technical analysis. I would expect prices to fall anywhere between $0.19 to $0.2.

In the next few days, the complete divestments of First REIT and Cambridge and dividends from earlier investments will arrive at my base. In addition to my existing funds, I will more spare cash in hand to ready to take advantage of this stock dive. Cash is champion in difficult times, always bear this in mind.

Some may feel that my portfolio is very risky and dangerous. But I doubt so. Risk originates from ignorance and danger arrives from ill-timed decisions. I have none of both. Many people say "don't put your eggs in one basket", alright I put my eggs in two baskets then.

When stock market recovers, let's smile all the way to the bank!

How to invest in Singapore REITs?

I have found this excellent article that provides insights into Singapore REITs. This article greatly eliminates the time that I need to write a wholesome of blog posts to describe REITs.

From Yahoo! Finance:

It was recently reported that Far East Organization, a leading Singapore real estate developer, was planning to raise more than S$500 million via a Real Estate Investment Trust (REIT) by listing some of its hotel and serviced apartment assets next year.

Indeed Singapore's REIT market has been growing with a number of new listings despite the volatile market as investors are attracted to the prospect of the stable yields that these securities can provide. In this article we'll examine what REITs are, the type of yields you can get from them and their performance, and what to look out for when investing in them.

What are REITs?

A REIT is a tax-advantaged corporate vehicle that is used to provide a real estate investment structure that can accommodate a wide variety of investors, similar to what mutual funds do with stocks. In this way, even a retail investor can get exposure to real estate with just a small outlay. REITs are usually required to pay out more than 90% of their taxable investors as a distribution to investors.

There are currently around 27 REITs and Business Trusts with real estate exposure listed in Singapore, with a market cap of around S$40 billion. Singapore REITs (S-REITs) are a relatively recent phenomenon with the first one (CapitaMall Trust) listed in July 2002.

What sort of yields can you get from Singapore REITs (S-REITs)?

On average the S-REITs are trading at about 6% yield, but they range from 4+% to 9+%. At the lower end of the yield range are the "blue chip" names such as CapitaCommercial Trust and CapitaMalls Trust, which tend to be large, liquid and have ownership of a large portfolio of quality assets. For example, CapitaMall Trust's assets include Plaza Singapura, IMM, Bugis Junction and Tampines Mall. At the higher end of the range are the smaller and riskier names such as AIMS and Cambridge Industrial Trust.

In general office and retail REITs tend to trade at lower yields than industrial and logistics REITs as their rental income stream tends to be more stable and less volatile, especially during economic downturns.

From a capital gains perspective, so far this year the S-REITs as a whole have been relatively flat, with the retail names such as Starhill Global and Frasers Centrepoint slightly outperforming, and the office names such as Capitacommercial Trust and and KREIT Asia slightly underperforming.

What should you take note of when investing in REITs?

Before you start investing in REITs, there are several issues you need to take note of:

1. Composition of REIT assets

REITs are typically classified according to the type of assets they are comprised of: retail (i.e. shopping malls), office, industrial, diversified or specialised such as hotel or healthcare REITs. Each type of asset has its own characteristics and have different drivers that will determine how they perform. For example, how well a hotel REIT performs depends on the number of tourist arrivals.

2. Geographic diversification and currency risk

REITs are not just comprised of different types of assets, but these assets could also be located in different countries, such as Singapore, Hong Kong, Indonesia, China, and Japan. If the REIT does not hedge this currency exposure, then the investor could be exposed to currency risk, so a strong Singapore dollar could lead to translation losses when the overseas incomes are converted back to pay the dividend.

3. Growth of Dividend Per Unit (DPU)

A good REIT will not only have a high and stable yield but one that is also growing over time. The main source of a REIT's income is rental, and so you have to also consider how that rental will grow over time. This will depend on factors including GDP growth, and also what sort of rental increases are built into the lease contracts.

4. Spread over 10 year Government Bond yield

If REITs are trading at yields that are too close to the Government Bond yield (which is risk free), then the investor might not be being compensated sufficiently for that risk. The bigger the yield spread that REITs are trading over Government Bonds, the more potentially attractive they are.

5. Gearing

REITs are allowed to borrow up to 35% of their total assets without a credit rating from a major rating agency. If REITs are heavily geared (leveraged) this creates a risk that they may run into serious problems if financing becomes an issue, as we saw during the financial crisis. Also, any potential acquisitions that they do have to be done through raising equity (e.g. through a rights issue) instead of just borrowing more to pay for it.

REITs are a good way to get exposure to a diversified portfolio of commercial properties and to enjoy an attractive dividend yield, but do not come without investment risks. Please do your homework before investing!

http://sg.finance.yahoo.com/news/How-invest-Singapore-REITs-yahoofinancesgwp-2479978652.html?x=0

Technical Analysis: Days Ahead

The stock market domino effect has not stopped and is expected to rock STI again next week. I expect my REITs to endure another week of turbulence. But what's planned days ahead?

In this blog post, I shall provide pictures of technical analysis in the form of 6-months candlestick graph charts and technical lines. I intentionally stripped away the moving averages, bollinger band, MACD, resistance lines and stochastic indicator to simplify my analysis. Only support lines will be drawn since the stock market is currently bearish.

AIMSAMP-REIT

A total of 4 support lines are identified in the graph chart. They are current and previous lows achieved by the price movement for the past 6 months. Thanks to the US debt crisis, AIMSAMP-REIT has breached 3 support lines for the past 2 weeks and is currently resting on the $0.205 support line. I believe $0.195 is a very strong support line given that the sell volume is very high in comparison to the buy volume. There could be a chance for the price to breach the $0.195 support line next week. I am keeping a close watch on it.

First REIT

First REIT has breached a number of support lines since the market turned bearish 2 weeks ago. The sell volume is shockingly high and that could explain why the price fell from the high of $0.84 last month to the current $0.76. If market turbulence continues next week, we could see its price breaching $0.735 support line. As for $0.71 and $0.7 support lines, the chance of breaching them is getting less obvious due to the increased buy volume on Friday. I am hoping to accumulate shares on First REIT if its price reaches $0.74 or $0.735.

Starhill Global REIT

There was a moment where Starhill went all the way down to the lowest support price level of $0.585. I believe it won't happen again, should buy volume stabilise next week. I believe the price could still test $0.605 support line. I am looking to accumulate a small volume of shares if its price fall to my expected level.

Portfolio Update - 12/8/11

AIMSAMP-REIT: 26k

Starhill Global: 11k

Cambridge: 1k

First REIT: 1k

Looks like the big mess is ending its rage on the stock market. Market indexes around the world are reported green figures again. I believe the big one is over but due to the financial instability of US and Europe, small turbulence is expected.

The stock market landslide has given me a good opportunity to gobble up AIMSAMP-REIT shares at a discounted price. I also roped in First REIT but due to limited funds, I can only purchase 1 lot. I divested nearly all shares of Cambridge to supply funds to my other three counters. Cambridge is a stable stock but apparently its CEO doesn't perform well when comes to investor relations. It somehow didn't want to give shareholders much privileges even when the company is doing well. Read the post here.

On the future outlook, I am going to load up more shares on AIMSAMP-REIT and First REIT, should they experience a fall in prices again.

Portfolio Update - 8/8/11

AIMSAMP-REIT: 23k shares

Cambridge - 4k shares

Starhill Global - 11k shares

First REIT - 1k shares

The "Black Monday" ended with huge losses clocked around the world markets. My REITs are badly affected but not as doomsday as I initially thought.

I loaded another 3k shares this morning after AIMSAMP-REIT price reached the 1-day strong support line of $0.205. Which to say, I enjoyed a slight gain but not able to offset the massive 20k shares that were purchased at $0.22 previously. At 5pm just now, it moved back to the 1-day resistance line of $0.210. Not bad, that's why I really admire AIMSAMP-REIT's resilience to stock market crashes. In fact, it survived last "Black Friday" and only dealt with a small blow on "Black Monday".

Another piece of victory, I purchased First REIT at a decently discounted price of $0.755. This is really a huge fall from the previously $0.79 last friday. The price was very unstable in the morning and I eschewed it until in the afternoon where it began to hover between $0.75 - 0.755. It now rests at $0.76.

To liquidate more cash for upcoming crashes, I divested 3k shares of Cambridge and suffered a slight real loss. I know this is a gamble but I want to settle my cash on First REIT or AIMSAMP-REIT in the next few days. As for Starhill Global the biggest loser of the 4 counters, I can't touch it since it is making a huge paper loss. And some more, being a retail cum office REIT, it helps to widen up the diversification of my portfolio that already has 2 industrial REITs. Starhill Global is a fundamentally strong company and I would expect its price to massively recover once this August mess passes over.

I know it's really disheartening to see my portfolio in a reddish state now. But in a chaotic period like this, it is more essential for me to stay calm, be patient, apply all the lessons learnt in the past, and don't repeat old mistakes again.

My next goal is to use all the cash from divested Cambridge shares to either load up more Starhill Global shares to average down the purchasing price or load up First REIT shares when its price moves down again.

What A Busy Market!

Followed by the "Black Friday" on 5/8/11, today is set to become another "Black Monday". Why? This morning, I logged in to my DBS iBanking to check out my transactions and stock movements and found out that the portal was extremely slow, almost coming to a halt. I realised that a lot of people are camping on their iBankings/Vickers to do all the massive selling not seen since 2008. And when I checked out my portfolio - OH GOSH! WHAT A SEA OF REDDISH...!

It's okay, just paper loss as long as I don't touch anything. The REITs are fundamentally strong. This kind of market response is very well expected. I experienced this once during the Libya War + Japanese Disasters earlier this year but later enjoyed a decent rally. Now it's back to the "Red Sea" (pun not intended) again. But don't fear, I am in fact feeling joyful now and shall exercise some of the cash to do some quick purchases in the afternoon (the time when the market is more stable).

I am also keeping a watchful eye on SG Stock Investor. The blog owner is doing an impressive job of intensive technical analysis on AIMSAMP-REIT, a stock which I also have holdings on. So I am just going to wait for the price to fall a little more before I enter the market.

The Golden Opportunity Has Arrived!!!

Massive plunge on stock market. 

I was really surprised by financial headlines when I got home just now. Apparently there is a massive stock selloff happening around the globe. Due to the great fall in Wall Street (thanks to US debt crisis) last night, many panicking investors today sold off their stocks. This caused a huge earthquake on the stock market and rattled everything from market indexes to regular stocks that are not seen since 2008 recession. My REITs have been affected but not as serious compared to high-growth stocks. For the first time since June rally, I am seeing red figures everywhere on my portfolio but in a swift outbreak of joy, I loaded 1k shares on Starhill Global at a much cheaper price. I have also ordered another 3k shares on AIMSAMP-REIT but due to the unstable buy/sell volume happening now, my order is jammed. Guess I would do it next Monday then.

Thanks to Benjamin Graham and Warren Buffett - CASH IS KING.

Really, at such a critical time now, what you should have now is plenty amount of cash. In case some of you are wondering how come I only loaded 1k shares on Starhill Global and not more? Well, you can never predict the exact bottom line of the stock. I am practicing this Dollar Cost Averaging strategy at present. To consistently loading up small lots after small lots where the price of each session falls below the previous ones. For example, I bought 1k shares of Starhill Global at $0.635. If the price falls to $0.625 on Monday, I will load another 1k shares and this goes on and on until the bottom line is reached (that's when stock market experiences a massive bounce back). I will lower down the average purchasing price of Starhill Global and when the stock picks up strength again, it will break even at a much faster rate than those who didn't practice the strategy.

People, the golden opportunity has arrived. I used to hate US for all the stock market woes but I guess we need "sabotage kings" to bring down the prices and make it more affordable once again for the intelligent investors to build their fortunes.

Beginning of Another Stock-Picking Season?

I believe that the stock market functions much like our weather system. There are warm and cold seasons. A warm season in the stock market implies bullish run while cold implies bearish run. Since entering 2011, I have witnessed 3 cold seasons in the stock market, 1) Jan - Mar: Libya War + Japanese Earthquake & Tsunami, 2) May - June: Euro Debt Crisis, and 3) August: US Debt Crisis

I wrote on a previous post that another golden opportunity might be on its way, should US fail to raise its debt ceiling. I was somehow wrong. In fact, if we look at current situations, the stock market takes a blow even with a higher debt ceiling. The reason is that although raising the debt ceiling can prevent US from declaring bankruptcy, it also implies more funds will be borrowed to run the country, and thus more debts will be incurred. Already US is a debt-plunged country, more debts will spell more troubles in the future. Not to mention Europe is also drowning itself in the sea of debts, coupled with China's slowing economic growth.

There is literally no strong powerhouse in this world to "support the collapsing sky", unlike the 2008 global economic recession where we had China the red-hot machine to rescue US and Europe.

But what does this mean for the stock market? With so many negative news appearing everyday, naturally investors' confidence will suffer and so are stock prices. My REITs are taking a hit too, but at a much minimal effect due to the lower-risk nature of REIT (the risk factor of REIT is a little above govt bonds but lower than high-growth stocks). Instead of panicking like a typical ignorant investor, I am overjoyed by the latest market bearish season thanks to US. That implies I can buy my favourite stocks at an even amazing price! The lower they get, the lower my average purchasing price, but the higher capital appreciation I will get when market bounces back in the next bullish run.

Now, I have a load of cash ammo in my firearms store, ready to fire at cheap stocks again in this newest golden opportunity.

Portfolio Summary

I have loaded another 15k shares on AIMSAMP-REIT this morning. My order status was processed at 8.59am, which was a mere 1 minute short of the ex-date (today), 9.00am. Hope that AIMSAMP-REIT can recognise my VERY last minute 15k shares and grant me dividends on the 3Q distribution period.

Portfolio update as of today:

AIMSAMP-REIT: 20k 


Cambridge: 7k


Starhill Global: 10k 


Into the future:

As my portfolio is focused diversified, I won't look into too many stocks. My strategy is to pick only 3 stocks but are highly diversified within itself (5th criteria of my stock-picking policy). In this way, I can focus on boosting dividend yield and capital appreciation while maintaining minimal risk factor.

AIMSAMP-REIT has proposed rights issue that I believe may bring down its market price. If that happens, I would enter the market again and gobble its shares to lower down my average purchasing price. After all, what can be more fruitful to buy the highest dividend-paying REIT stock at an even cheaper price?

I am also looking for a healthcare REIT stock. This will automatically rope in First and Parkway Life REITs. I am filtering out Parkway Life for the following reasons:

1) Has too many healthcare properties in Japan which is disaster-prone

2) Current market price is a way above its NAV

3) Dividend yield is not as attractive as First REIT's

4) And besides, First REIT has proposed for rights issue which may see its price fall below its NAV again

This is the portfolio statistics as of now.

Another Recommended Investment Website

From the same dedicated team of REIT Data and S-REITs, I recommend this website that showcases some of the blue chips (local stocks) that pay the highest dividends on the market. Examples are Singtel, SPH, Starhub, vice versa.

I have linked the web domain to the Investorium 2.0 pages.

http://yieldstocks.reitdata.com/

Ready For AIMSAMPI-REIT

I am divesting 3k shares on Cambridge Industrial tomorrow. It is still a good stock but I want my money to reap a higher percentage of dividends in AIMSAMPI-REIT's near-10% than Cambridge Industrial's 7%. And besides, I need more spare cash in hand to get ready for Parkway Life REIT as I strongly believe that the boring volume indicated on its stock chart might spell a sharp fall in the price soon.

However, due to the looming US debt default crisis on Aug 2, I am not throwing everything on AIMSAMPI-REIT yet. I am loading 5k shares tomorrow first and see how things progress in days ahead. I am preparing to load another 15k shares, depending on the crisis situation.

Hopefully, by the end of next week, my portfolio should look something like this:

AIMSAMPI-REIT: 20k shares

Cambridge Industrial: 7k shares

Starhill Global: 10k shares


By the way, if you are wondering how come I am so interested in AIMSAMPI-REIT, basically this industrial REIT stock functions the same way as Cambridge Industrial but comes with a higher dividend payout. That's the reason why I am going for it. 

Another Golden Opportunity's Approaching?

I can't stress enough on the 2 words "golden opportunity". Successful investors are born in times of difficulties. They gobble up stocks at ultra-cheap prices and hold them long enough for the economy to recover, thus sending these previously cheap stocks to sky-high prices and give these investors super-profits. Millionaires are created in this way.

Previously, I have missed golden opportunities such as the 2008 Sub-prime Mortgage Crisis & Economy Recession, the 2009 Euro Debt Crisis, and 2010 Euro Debt Crisis 2. Only a few of my stocks managed to break out of 'recession' and head for success (eg. Mencast Holdings). I won't repeat the same mistake again.

It seems that many stock websites and finance blogs are sounding alarm on the looming US debt default. Please read this latest news article to find out more. US is running out of time and may have to bite the dust hard.

Come Aug 2 and hopefully US would default its debt and plunge the world economy back to recession. Yes, my current holdings on Cambridge and Starhill Global would be affected but that's not the point. What you should be happy about is when the world is back to recession again, stock prices would fall sharply and that's the time you should enter the market and gobble up those attractive stocks previously overvalued. For example, I am setting my eyesight on Parkway Life REIT but at $1.84 now, it is very overvalued. I am also looking forward to buy more shares of Cambridge and Starhill Global to average down my purchasing price, should the second global recession take place.

My strategy now is to store up as much cash as possible and ready to deploy them in times of recession. REIT is all about long-term investment but I want to double or triple my earnings by entering the market at the right time. My 40% profit from Mencast Holdings stock has taught me this strategy.

Now, I imagine myself as the hungry eagle, waiting patiently for the big fat prey to get weakened before I rush in and enjoy the meal...

2Q2011 Starhill Global

Starhill Global has released its 2Q2011 financial presentation. But how does it perform through my 5 indicators? Let's find out.

#1 High Current Dividend Yield of >5%

2Q11 dividend yield is 6.42%.

#2 High Expected Dividend Growth

1) Quality of properties in portfolio and quality of tenants

Starhill Global has ownership in popular shopping malls like Ngee Ann City and Wisma Atria in Singapore. Top 10 tenants contributed 52.2% of gross rent. Famous tenants are Nike, BreadTalk, FJ Benjamin, and vice versa.

2) Expected increase in property prices

While the 2Q11 presentation did not specifically state the property prices, I would expect the prices to increase drastically due to recent property inflation, the limited land area, and the increase of human traffic in Orchard Road.

3) Expected increase in rental

Maintains a healthy occupancy rate of 95.2%.

4) Acquisition of new properties

A large shopping mall in Orchard Road is under construction and expected to complete in 3Q2012. Famous global brands are switching over to Starhill's properties. Many ot its overseas properties are renovating and expanding.

#3 Low Gearing Ratio of <40%

Starhill Global has a healthy gearing ratio of 30.2%.

#4 REIT Stock Price Is Undervalued

NAV is $0.94 as of 2Q11. The current market price as of 29/7/11 remains at $0.65.

#5 The Stock Is Highly Diversified Within Itself

Starhill Global is widely diversified between retail and office sectors. It has properties in Malaysia, China, Japan and Australia.


Same as Cambridge Industrial Trust, Starhill Global is a good stock to buy and hold. While its dividend yield is lower than Cambridge, the capital appreciation in the long term is much attractive due to Singapore's main focus on retail and office sectors, and also the increasing population leading to more businesses in the city centre.

2Q2011 Cambridge Industrial Trust

Cambridge has released its 2Q2011 presentation. Now it is time for me to update this stock via the 5 indicators.

#1 High Current Dividend Yield of >5%

The dividend per share was declared $0.0103. Taking the market share price of $0.51 into factor, the dividend yield is computed as 8.1% annualised, far exceeding the minimum 5%.

#2 High Expected Dividend Growth

Using the 4 sub-indicators,

1) Quality of properties in portfolio and quality of tenants

Top 10 tenants account for 55% of gross rent.

2) Expected increase in property prices

Portfolio valuation increased by 5.5% from $928.5m to $1002.9m.

3) Expected increase in rental

Maintains a healthy occupancy rate of 99.02%.

4) Acquisition of new properties

Completed the acquisitions of 4 & 6 Clementi Loop and 60 Tuas South Street 1.

#3 Low Gearing Ratio of <40%

Cambridge managed to reduce its gearing ratio from 33.3% to 32.7%.

#4 REIT Stock Price Is Undervalued

While the stock price remains at a healthy value of $0.505 (as of 29/7/11). Cambridge's NAV increased from $0.61 to $0.62. 

#5 The Stock Is Highly Diversified Within Itself

Cambridge's portfolio is diversified between logistics, light industrial, warehousing, industrial, self-storage & warehousing, car showroom & workshop. The diversification is expected to increase with announced future acquisitions.



Overall, Cambridge is a good buy. It has a very stable stock price but comes with a high dividend yield. It has so far the highest number of industrial properties compared to other industrial REITs, which implies wide diversification and lower risk. I will load up more shares if the US government clears the way for its debt defaulting crisis after Aug 2.

Portfolio Update - 25/7/11

Portfolio as of today:

Cambridge Industrial REIT - 10k shares

Starhill Global REIT - 10k shares

I have sold 1000 shares of Mencast Holdings at $0.535. I cashed in 40% profit. But in the late afternoon, this stock went up to as high as $0.56! Well, what's sold is sold, let's move on.

Actually, this is also another lesson learnt. Although a stock may far exceed its NAV or intrinsic value, it can still provide more rooms for further rises. What I could have done is - continue holding on to this stock until it has inflated so high that it reverses into a downtrend. That is, to quickly escape when the price has fallen by about 5% - 10%. But the catch is, you need to do it fast before ignorant investors realise the trend and refuse to buy at your limit price, then you might have trouble selling it off. I don't have much confidence on this and so I headed for an early exit.  

One more bad news, by the way. It seems that the 2 useful blogs (read the previous entry) that provide vast information about local REITs are now dysfunctional. Hope it is just a temporary shutdown or a domain plan renewal. I still need to source for more REITs to advance my portfolio, don't leave me!

I am currently targeting MappleTree Commercial. Although some investors may want to eschew this stock due to its short history (it just entered the market as an IPO this year), I am confident of its vast potentials due to its holdings in highly-popular properties like Vivocity and PSA Building. It may present an opportunity for further rises, should Singapore economy progress to the pre-crisis level. However, some investors may not have confidence in it due to its seemingly highly-focused portfolio; it only has 3 properties in Singapore. But if we look from another angle, taking Vivocity for example, this shopping mall is the home for food and beverage, fashion, lifestyle, hypermart, entertainment, etc. This means diversification within the shopping mall itself.

(a) By Gross Rental Income for the month of November 2010

(b) By NLA as at 30 November 2010

Extracted from: http://www.mapletreecommercialtrust.com.sg/page.aspx?pageid=163

Anyway, the volume for MappleTree Commercial stock has sunk to its new low based on its 1yr chart. This implies that the stock price may experience a downtrend soon. In fact, it just fallen by 0.56% today. Could this be the signal of a downtrend? Well, I can't guarantee that. This might be a 50/50 chance. Only time will reveal the answer. I will gobble up this stock once its price falls below $0.87.