This month marks the beginning of the release of first quarter earnings results. I believe whether "Sell-in-May-and-Go-Away" materializes or not depends partly on the performance of the companies for the first quarter, as well as the macro environment.
So far, earnings has been average. However, for the month, the star performers are Singpost and Mapletree Commercial Trust. Singpost has been rising and making new highs to end off the month at $1.290 per share. Mapletree Commercial Trust has also broke up its resistance to end off at $1.465 per share. On the other hand, Far East HTrust had declined gradually to $1.130 per share. Luckily based on technical analysis, I had sold 9 lots at $1.175 per share to decrease the average price of my holdings earlier.
In addition, I have purchased 3 lots of FE Orchard this month. I decided to buy this property and hospitality counter because it is one of the few counters in my watchlist that is still below book value. Hence being undervalued, I believe it has more upside. Besides, FE Orchard has just undergone restructuring from its previous status as Orchard Parade Holdings, I believe the restructuring will be beneficial to the company and it will be better able to concentrate and manage its core business. Furthermore, recently it has announced a dividend payout for the last quarter at $0.0600 per share. This is a bonus for me as I did not expect any dividends to be declared by this counter at this period. Nonetheless, more is always welcomed!
As announced earlier, I had sold my holdings in SMRT. I am glad I bit the bullet and made that decision, as by the end of the month, the share price of SMRT continues to dip further into the red. With the sale, my current unrealized profits rose by approximately 10%. How the coming months are going to be for the stock markets, only time will tell. For now, I shall just wait for any upcoming dividends.
My Current Portfolio:
Lessons learnt: Stay disciplined. I always need to remind myself to stay disciplined. Emotional investing is my biggest enemy for now.
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