I have an IG account for years though it's been pretty dormant as I used it previously to learn currency trading. So a reminder came to tell me that I have not done anything over the past 2 years and if this continues, an inactivity fee would be charged. Naturally, I logged into the account, funded it and placed a small trade, earning $4 in the process after a few hours. During the waiting time and monitoring the position, I looked at the stock market and read a few charts.
The market movement was slack and moving listlessly sideways. My take on the market is it's waiting for a signal from any source and blue chips were already battered down. Covid has been around for more than 6 months now and prices should have more or less moderated to include business impact. Therefore, to prepare for a recovery market play, the horizon to look would be longer term and cyclical stocks were a good bet. Hence, I purchased 1000 Capitaland shares to begin my first investment into a property counter in over 10 years! It has a well-diversified portfolio mainly in Singapore and China, trading at good PB of 0.6 and with expected improvement in retail/hospitality situation, I thought the downside risk is much covered. Even if the price was to drop 20%, I am likely to add each time that happens.
Tip: Yamazaki Single Malt 12
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