I was pleasantly surprised that Nam Cheong went up a fair bit this morning. The financial reports for this share has been really positive. I must admit I have not looked at its financial report myself, and have merely read recommendations from various brokerage houses on this.
Well, the reason why I sold this was because I want to move my portfolio into a dividend based one. I need all the spare cash I have to purchase higher dividend yield shares. When i purchased this share awhile back, it was really based on a whim - you know how you just feel like punting on a good share? Yes, that is why i bought it. Not the best of reasons. With a family and work demands, it is just impossible to do this kind of punts on a regular basis. There are weeks and months last year where i just did not look at the share market or even read the news! and that is a big no no if you put money where uncertainty lies.
I know the TP for this is about 0.45 but in light of the uncertain market conditions, I think I will play safe and pull out of this stock. I do expect the share price for this to trend downwards next week, and if it does fall to a level i am comfortable with, I may pick up a little bit just for the sake of satisfying my risk taking appetite.