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A sea of red! Have a plan and execute it!

Friday, August 5, 2011

US stock market plunged 5% overnight. European markets plunged overnight. The Singapore market opened some 100 points lower. Such ferocity in selling, I have not seen in some time.

Panic is palpable. Fear can be petrifying. However, if we have a plan, fear could be less so.


My plan is to continue investing for income and I like AIMS AMP Capital Industrial REIT and Sabana REIT.

Today, I bought more units of Sabana REIT at 92c. Looking at the chart, 92c should be a natural support level but we have to see how it closes this evening.

If it is unable to close above 92c this evening, we could see price going lower to test 91c and 90c for support. I would buy more then. Good luck.

10 comments:

Anonymous said...

Yes AK, me pain pain...., did cut loss some. Still holding some, really low can go even lower. Tks for sharing your buy list. Hope you can spot more good buy. Good Luck AK!
Pain JO...........

AK71 said...

Hi JO,

Yup, cheap can get cheaper. We are talking about price here after all.

A good buy today might not be a good buy tomorrow. ;p

Good luck to us all. :)

financialray said...

I think Sabana reits and some of the REITs will hold steady because rental income will hold steady for a while.
But to justify a QE3, think maybe will have to go down further. In fact, I think I heard QE4 even...
How about Sabana at 90.5 cents?

AK71 said...

Hi financialray,

If 92c support fails to be recaptured, we could see price testing 91c and then 90c for support. 90.5c? Possibly. ;)

Hwang said...

Hmm, now that First REIT came down to above 8% yield, i am going to top up.

Luckily i managed to sold off LMIR at 0.635 fast week as the results disappointed most.

Now learning how to play the fear :)

AK71 said...

Hi Hwang,

You are nimble footed. Congratulations!

I have also put in my buy order for First REIT. :)

JJ said...

Hi AK,

What is your preference entry point for First Reit?.

I recall 0.78 or 0.79 is the NAV.

AK71 said...

Hi JJ,

Looking at the chart, 77c seems like the top of a bowl formation. Immediate support should be around that region. If that goes, we are looking at stronger support at 74.5c.

I am looking to load up on First REIT again too. :)

Anonymous said...

Good day AK,
Going thru chat history, FYI could not read msg before 6 Aug 12.58am.

Have a safe/great weekend!
JO..........

AK71 said...

Hi JO,

Oh my, I have absolutely no idea what could be the matter. :(

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