Tong’s Momentum Portfolio - Feb 4, 2015
THE benchmark FBM KLCI Index ended lower last Friday despite positive leads from the US market, closing a slight 0.92 points or 0.05% down at 1,781.26. However, market breadth was positive with gainers outpacing decliners 1.28 to 1.
Brent crude was dogged by persistent price weakness, hovering at $48.96 per barrel while WTI crude ended in positive territory at $44.49 per barrel at the time of writing. The ringgit continued to be weak at RM3.63 against the greenback.
Meanwhile, the US market rebounded after Federal Reserve Chair Janet Yellen’s assurance that there would be no hike in interest rates in the near term.
On Thursday, the Dow Jones Industrial Average recovered to close 1.31% higher at 17,416.85, while the S&P500 closed up 0.95% at 2,021.25.
Since I bought Jobstreet Corporation Berhad ( Financial Dashboard) for 44.5 sen per share on Thursday, the stock rose as high as 49.5 sen on Friday.
Given the gains, I disposed of my entire 22,000 shares at 48 sen per share. The investment yielded a decent return of 7.9%.
I did not make any new acquisition on Friday.
My portfolio, which restarted on 29 January with a capital of RM100,000, has now seen a 0.9% increase in value to RM101,898.30. It has outperformed the FBM KLCI by 6.8%.
This article first appeared in The Edge Financial Daily, on February 4, 2015.
http://www.theedgemarkets.com
THE benchmark FBM KLCI Index ended lower last Friday despite positive leads from the US market, closing a slight 0.92 points or 0.05% down at 1,781.26. However, market breadth was positive with gainers outpacing decliners 1.28 to 1.
Brent crude was dogged by persistent price weakness, hovering at $48.96 per barrel while WTI crude ended in positive territory at $44.49 per barrel at the time of writing. The ringgit continued to be weak at RM3.63 against the greenback.
Meanwhile, the US market rebounded after Federal Reserve Chair Janet Yellen’s assurance that there would be no hike in interest rates in the near term.
On Thursday, the Dow Jones Industrial Average recovered to close 1.31% higher at 17,416.85, while the S&P500 closed up 0.95% at 2,021.25.
Since I bought Jobstreet Corporation Berhad ( Financial Dashboard) for 44.5 sen per share on Thursday, the stock rose as high as 49.5 sen on Friday.
Given the gains, I disposed of my entire 22,000 shares at 48 sen per share. The investment yielded a decent return of 7.9%.
I did not make any new acquisition on Friday.
My portfolio, which restarted on 29 January with a capital of RM100,000, has now seen a 0.9% increase in value to RM101,898.30. It has outperformed the FBM KLCI by 6.8%.
This article first appeared in The Edge Financial Daily, on February 4, 2015.
http://www.theedgemarkets.com
