Hello Pezz, Today’s Report – HK Front:
I unloaded much of my China shares on the market.
I am not sure exactly why, although I can make a lot of excuses based on fundamentals (SARS, Taiwan, N.Korea, China breaking economy, etc). Since they are just excuses, I will not bother. The thing about excuses is that it is better to use them before others do.
I am not able to decipher the technical to make any sense, and so I will not try.
I guess I am just feeling uncomfortable even though I believe the fundamental values of the shares are still good (P/E, dividend).
I simply am happy with my latest refill on China profit, and I do not wish to be holding these shares while I abscond into the sunny hemisphere for vacation.
I doubt I will enjoy my vacation much if I have to stay glued to the CNBC channel and trying to stay up during happy napping hour because I need to save my dollops from trials by fire. We are playing with real moolah, and not chestnuts ;0)
I also do not wish to be holding these shares through the usually slap-happy first quarter since 2004 first quarter may not turn out to be a usual one.
And, I guess another reason is I do not want to be holding these chips again until, oh, say sometime during the summer?
Here is the tally:
I got away from my dollop of China Shipping finance.yahoo.com at HKD 5.85/shr, satisfied with a gain 18% 41 days;
I divested People’s Food finance.yahoo.com at HKD 5.15/shr, recognizing a loss of 1% over 41 days;
I unloaded my three dollops of Petro China finance.yahoo.com at HKD 3.95/shr, accumulated at an average cost of HKD 3.24/shr, taking home a gain of 21.9% via an weighted average holding period of 20 days;
I got rid of the last dollop of my PICC Property & Casualty finance.yahoo.com at HKD 3.25/shr, claiming a profit of 32.6% since this time Message 19470582 <<November 5th, 2003>>;
I sold my three dollops of Sinopec finance.yahoo.com at HKD 2.95/shr, accumulated at an average cost of HKD 2.64/shr, claiming a gain of 11.7% over weighted holding period of 20 days;
I flipped my three dollops of Yanzhou Coal finance.yahoo.com at HKD 7.70/shr, absconding with a gain of 10.8% over a weighted average holding period of 20 days.
I am still holding three dollops of CNOOC finance.yahoo.com and a dollop of China Life finance.yahoo.com . I imagine these will be put up for sale over the next few days.
Chugs, Jay
Buy References:
Message 19512676
November 18th, 2003
China Shipping finance.yahoo.com at HKD 4.95
CNOOC finance.yahoo.com at HKD 15.00
People’s Food finance.yahoo.com at HKD 5.20
Petro China finance.yahoo.com at HKD 2.85
Sinopec finance.yahoo.com at HKD 2.375
Yangzhou Coal finance.yahoo.com at HKD 5.70
Message 19596639
December 14th, 2003
(a) China National Offshore finance.yahoo.com at HKD 17.25/shr
(b) Petro China finance.yahoo.com at HKD 3.475/shr
(c) Sinopec finance.yahoo.com at HKD 2.80/shr, and
(d) Yanzhou Coal finance.yahoo.com at HKD 7.95/shr
Message 19601413
December 16th, 2003
(a) China National Offshore finance.yahoo.com at HKD 15.9/shr
(b) Petro China finance.yahoo.com at HKD 3.40/shr
(c) Sinopec finance.yahoo.com at HKD 2.75/shr, and
(d) Yanzhou Coal finance.yahoo.com at HKD 7.20/shr |
