Tong’s Momentum Portfolio - March 20, 2015
March 20, 2015 : 11:11 AM MYT
TOTAL value for my portfolio dipped 0.12% yesterday, to RM98,308.20, dragged down by losses on disposal of Focus Lumber. By comparison, the FBM KLCI rose 0.64% to 1,809.13. On the broader market, gainers outnumbered losers by a ratio of 1.4-to-1.
Asian markets ended in positive territory mostly, following overnight rally in the US markets. The DJIA and the S&P 500 gained 1.27% and 1.22% respectively, as investors cheered Fed’s dovish statement released on Wednesday. The Fed dropped the word “patient” from its monetary-policy statement but indicated that it would be in no rush to lift rates.
Crude oil futures plunged 2.5% to around US$45.50 per barrel at the time of writing, on continued concerns of a record high inventory build-up in the US.
Meanwhile, the ringgit remained unchanged at RM3.71. Most emerging Asian currencies rose on Thursday, a rare reprieve after months of declines as Asian central banks recently raced to cut rates.
My portfolio is now down 1.7% since inception. Despite yesterday’s worse-than-market losses, I am still outperforming the FBM KLCI, which is down by 4.4% over the same period.
• Portfolio will buy stocks with positive momentum on the day
• Stocks in portfolio will be divested when they exhibit negative momentum
• Otherwise, stocks will be divested within a max 4-day holding period
This article first appeared in The Edge Financial Daily, on March 20, 2015.
http://www.theedgemarkets.com
March 20, 2015 : 11:11 AM MYT
TOTAL value for my portfolio dipped 0.12% yesterday, to RM98,308.20, dragged down by losses on disposal of Focus Lumber. By comparison, the FBM KLCI rose 0.64% to 1,809.13. On the broader market, gainers outnumbered losers by a ratio of 1.4-to-1.
Asian markets ended in positive territory mostly, following overnight rally in the US markets. The DJIA and the S&P 500 gained 1.27% and 1.22% respectively, as investors cheered Fed’s dovish statement released on Wednesday. The Fed dropped the word “patient” from its monetary-policy statement but indicated that it would be in no rush to lift rates.
Crude oil futures plunged 2.5% to around US$45.50 per barrel at the time of writing, on continued concerns of a record high inventory build-up in the US.
Meanwhile, the ringgit remained unchanged at RM3.71. Most emerging Asian currencies rose on Thursday, a rare reprieve after months of declines as Asian central banks recently raced to cut rates.
My portfolio is now down 1.7% since inception. Despite yesterday’s worse-than-market losses, I am still outperforming the FBM KLCI, which is down by 4.4% over the same period.
• Portfolio will buy stocks with positive momentum on the day
• Stocks in portfolio will be divested when they exhibit negative momentum
• Otherwise, stocks will be divested within a max 4-day holding period
This article first appeared in The Edge Financial Daily, on March 20, 2015.
http://www.theedgemarkets.com
