I am now populating the numbers for counters on my watchlist while trimming those that I did not feel comfortable with. I guess it will take pretty long before I finish the entire watchlist numbers ^^"
- Subscribed to Mapletree Commercial Trust Preferential Offering at 1.42 (I applied for it here.)
- Reasons
- A strong sponsor
- Hybrid REIT of commercial and retail (Look at Vivocity >_>)
- Good management by the REIT Manager so far
- Acquisition is accreditive too
- Wish to increase my stake in the REIT, it is a low cost way for me to add to my positions.
- Sell Soilbuild Business Space REIT at 0.675 (Half of position, 2200 shares)
- Reasons
- Soilbuild REIT decided to go for a preferential offering as well (News here as well as the schedule for it here.)
- I expended most of my remaining cash for MCT's Preferential Offering T_T
- There is some level of risk involved in the REIT, such as:
- Heavy exposure to O&G and poor tenant diversification
- Solaris expiry on FY2018
- Unencumbered assets still not as high as I would like, considering a possible rate hike soon.
- Decided to be more cautious and sell half of holdings after discussion with a fellow blogger (Thanks LP!)
- Still maintain cautious watch of this share as it is more risky than most of the counters in my current portfolio
- Left with 2100 shares to take advantage of the odd lots rounding
- Considered to sell all at 70c using TA, however, with the preferential offering, unlikely to hit that price. However, considering the current TA, weekly trend is slow and sloppy, indicating a fading downtrend momentum. Daily is observed to have a bollinger squeeze into a bullish breakout. Strong support is observed both on weekly and daily at about 66.5c.
- In hindsight, considering the share price now is 0.685, I might have let it go too early though (to squeeze a tiny bit more)
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| Initial Target Exit for Soilbuild REIT |
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| TA analysis of Soilbuild REIT (18Aug16) |
Well, that's all for my money right now.
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