Tong’s Momentum Portfolio - Feb 13, 2015
THE FBM KLCI slid 0.6% to close at 1,789 on Thursday, led by a sell-off in index-heavyweight, Tenaga Nasional . The power giant has lost 8.2% in two days, wiping out RM8.6 billion from its market capitalisation, after the government announced a surprise 2.25 sen per unit reduction in electricity tariff. Market breath was negative with losers beating gainers by 1.33-to-1.
Both the Dow Jones Industrial Average and S&P 500 ended flattish at 17,862.1 and 2,086.5, respectively, on Wednesday. Asian markets traded mixed with Japan’s Nikkei up 1.85% on the back of a weakening yen while the Singapore market ended in the red.
In other news, the International Energy Agency (IEA) warned that ample oil supply will raise global inventories before investment cuts begin to significantly dent production. At the point of writing, Brent crude traded near US$56 per barrel while WTI crude was hovering around US$50.
I bought 12,500 shares in Hexza Corporation Bhd at 79.5 sen per share, after the stock was highlighted by our momentum algorithm on The Edge Markets (www.theedgemarkets.com).
I continue to hold Hovid Bhd (-4.6%), TMC Life Sciences Bhd (-4.7%), Malaysian Pacific Industries Bhd (-1.7%), and Evergreen Fibreboard Bhd (0.5%).
My portfolio now has a total value of RM101,359 and is up 1.4% on initial capital of RM100,000. It has outperformed the KLCI FBM by 6.8%.
This article first appeared in The Edge Financial Daily, on February 13, 2015.
http://www.theedgemarkets.com
THE FBM KLCI slid 0.6% to close at 1,789 on Thursday, led by a sell-off in index-heavyweight, Tenaga Nasional . The power giant has lost 8.2% in two days, wiping out RM8.6 billion from its market capitalisation, after the government announced a surprise 2.25 sen per unit reduction in electricity tariff. Market breath was negative with losers beating gainers by 1.33-to-1.
Both the Dow Jones Industrial Average and S&P 500 ended flattish at 17,862.1 and 2,086.5, respectively, on Wednesday. Asian markets traded mixed with Japan’s Nikkei up 1.85% on the back of a weakening yen while the Singapore market ended in the red.
In other news, the International Energy Agency (IEA) warned that ample oil supply will raise global inventories before investment cuts begin to significantly dent production. At the point of writing, Brent crude traded near US$56 per barrel while WTI crude was hovering around US$50.
I bought 12,500 shares in Hexza Corporation Bhd at 79.5 sen per share, after the stock was highlighted by our momentum algorithm on The Edge Markets (www.theedgemarkets.com).
I continue to hold Hovid Bhd (-4.6%), TMC Life Sciences Bhd (-4.7%), Malaysian Pacific Industries Bhd (-1.7%), and Evergreen Fibreboard Bhd (0.5%).
My portfolio now has a total value of RM101,359 and is up 1.4% on initial capital of RM100,000. It has outperformed the KLCI FBM by 6.8%.
This article first appeared in The Edge Financial Daily, on February 13, 2015.
http://www.theedgemarkets.com
