Ride the RCECAP again, BOUGHT 10,000 RCECAP @ 0.660, TRIMMED MYEG

Over the last few weeks, we have seen the strength of the DOW JONES. The Greece debt crisis is trying hard to defect the DOW JONES. As of today, DOW JONES is still standing strong, well defended by excellent quarter reports.

Now, in the month of May, it's the turn for the BURSA for quarter reports. Can BURSA keep up the momentum? With the recent mega projects(i.e. penang bridge II , LRT extension) on the headlines, will these excite the retailers to participate and goreng up the stocks? Unclepicks decided to add a little more. Bought RCECAP.

Not exposing too much stocks, Unclepicks also trimmed MYEG by 15,000 units @ 0.450 (BOUGHT 8/March/2010 @ 0.430). Left 10,000 units

Do some reading

While the local market is damn boring, let's read some news

http://money.cnn.com/2010/04/27/markets/markets_newyork/index.htm

http://www.financialstandard.com.au/news/view/28632/

Impressive quarter reports

Citigroup, IBM, GS, Coca-Cola, Apple and Yahoo all delivered impressive results.  Bull days are over? not quite..

Let's continue to monitor the market. Unclepicks is not buying nor selling at the moment. Portfolio carries ~60% stocks.

Interesting week ahead

Besides GS, the releasing of quarter reports will determine the fate of the markets. Let's watch. :=)

SOLD 10,000 RCECAP @ 0.705

Good morning. SOLD all RCECAP with 6% gain. A counter with lots of spikes. So, catch the spikes.

BOUGHT @ 0.665 on  31/03/2010

Flash back to November 2009

Let's flash back to the post that unclepicks wrote in November 2009.
http://unclepicks.blogspot.com/2009/11/portfolio-review-ytlpowr-ytlpowr-wb-lhh.html

SOLD 20,000 IRIS @ 0.165, 3,000 FAVCO @ 1.030

Quick Note,
Sold IRIS with little gain (bought: 29/Dec/2010, 0.155). All sold
Sold FAVCO for 38% gain (bought: 26/Jan/2010, 0.745). 3,000 units left


FAVCO is still backed by 4% dividend. Will keep the rest for further gain.

Take a look at TGOFFS

Unclepicks portfolio stood at ~74% stock, ~26% cash. Not buying at the moment.

Why TGOFFS?
- If you are observant enough, the executive director (finance) of the Tanjung Offshore Services who has just resigned, acquired quite a big stake of TGOFFS. He has been disposing TGOFFS since December 2008.
- Lembaga Tabung Haji has purchased some recently.
- The company is already awarded 5 contracts this year,

1. long term charter contract from Petronas Carigali, 
2. waste heat recovery package from Solar Turbines, USA
3. spare parts for gas engine generator package from Murphy Sarawak Oil
4. provision of glycol dehydration package from Petronas Carigali
5. wellhead maintenance services from Petronas Carigali

- The stock found its ground last year at 0.950 after reported a 3rd quarter loss. 4th quarter returned back to profit. At current < 1.100, it is relatively cheap & safe to buy and hold.
- Subsidary CERS' management team has been restructured, and cost overrun is expected to come to an end.
- Oil price is going higher and higher.

Crude Oil, thumbs up!

Interesting article:
Oil price surges 17th month high