Friday, January 23, 2015

The Unloading - Taking Profit from The Table

The flight to safety continued with gold strengthening and touched the $1300 psychological resistance zone. I started accumulating gold miners in Oct/Nov 2014 during the gold sell off then. I didn't expect that the bearish sentiment on gold to change so fast.  My earlier plan was to hold the gold miners for at least 6-12 months.

From the low of 73.6 cents on 16 Dec 2014, United Gold and General fund has rallied 33.6% to 98.4 cents on 20 Jan 2015. This was the price zone I projected as my initial target price. So I decided to lock-in some profit by unloading 3/8 of my total position in United Gold and General fund. Unloading was done from 20-22 Jan for a decent profit.

I also sold half of my position in Blackrock European Eqty Income A6 SGD-H, to lock-in some profit. In the meantime, it seemed the high yield fund offered a decent yield at the current price level. I initiated a position in Fidelity Asian HY AMDIST SGD Hedged. The fund distribution rate was 6.8% based on my purchase price.

January seemed to be a good month. My unit trust portfolio value appreciated some $4400 compared to 31 Dec 2015, more than the return I got for the whole of 2014. I'll post my position by end of the month.

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