I had an excellent trading day so far – with Lion Selection finally received a merger / takeover deal- the stock rallied 20% yesterday, which added a nice profit to my portfolio. As expected, the US market had a mixed rally, my positions on Nasdaq had also reported good profit – and I had taken the market weakness to add more stocks yesterday and the day before including:

  • More ASX
  • More London Stock Exchange
  • More BP (But watching this closely as oil price looks like is heading down)
  • More Xstrata Mining
  • More Gindalbie

 The concern now is on the Chinese intention on commodities, the economy recover, according to the press maybe only short-lived, meaning the Chinese companies and government will stop stockpiling – and this could lead to fall in commodities price next few months.  Yesterday was a busy day on our REIT portfolio with a large number of property stocks trading on ex-distribution basis, we played well on BJT, which paid 12.5% yield, share price dropped 8% in the end, so we walked away with 4% profit net after just 1 day – Dexus just had a par performance, so we will hold on to the stock for few more days and hopefully it will rebound. LEP, which I used to hold still paying 6.2% for this period, equivalent of 12.4% yield – it invests in pubs around Australia, I need to have a closer look of its debt profile before making any decision. Today, I am mainly looking at existing some positions – already exited Nasdaq and S&P at a small profit, and looking to exit Lion Selection, also deciding if to exit on ASX and Gindalbie today – I think it will be a quiet day, but should have some recovery – which we will then decide at what point to add more short positions.