Bought 16,500 shares of CMT on 28th Nov at $1.90
If you had read my post yesterday, you will know that I sold off my 20,000 shares of Frasers Centrepoint Ltd to fund this purchase (Read here)
I had previously bought CMT at $1.87 in Nov and Dec 2015 (Read here) and sold it at $2.15 on Jun 2016 (Read here).
Seeing the price drop back to $1.90, so mai tu liao (don't wait any longer), fast hand fast leg go in and buy.
Reasons for buying CMT:
1) PB value at 1 (Although there are many good stocks with PB value below 1, but based on history, CMT rarely have a PB value below 0.9)
2) Div yield at 5.9%
3) Quarterly dividend payout
5) Big brothers is buying too - $172k worth of CMT
6) See a similar trend for CMT on the past 3 yrs??
How many times you spot the following conditions:
- Stock price fell below 1.95
- Stock price raise above 2.10
(Hint: I had mark it with a green UP arrow)
So here we are, CMT price is below $1.95 again.
Between $2.01 to $2.05, buy only if you have spare warchest to deploy or looking for good dividend stock for your portfolio.