Ending a long love affair with....

Caught you didn't I? Sorry there is nothing as sordid as you thought in this posting. Actually I am selling off all of the remainder of my PICORP shares today despite the market being down, in fact I am disposing the blinking stock, on buy and hold silly strategy, at a ridiculously low price. I bet the person who bought them is laughing out loud today. Oh, it doesn't matter when I am already compensated by sweet gain on my successfully acquired MSM IPO shares recently ( please don't be jealous AC and gang!).

The reason I went headlong to discard PICORP purchased before 2008 world  financial crisis was to buy KENCANA Petroleum on news of its merger with SAPURA Crest (kicked myself for selling this gem despite knowing it was going to go to 4.20. I bought it at 3.63 in January this year and sold at 3.93!). Never mind if the investment bank was saying not to buy KENCANA at higher offer as the stock has been fully valued because sometimes people are not listening to stock analysts especially in this volatile market period. I am just hoping the crude oil prices will not dive steeply as to indirectly affect the income of both of these oil and gas companies.

You know what? I feel a sense of relief offloading PICORP, never again will I touch penny stocks. I learnt my lesson the hard way, buying a stock based on people's recommendation is one of the downsides of investing. Another wise-after -the event lesson is not to be greedy. Anyway, in my experience, it is better to stick to well-known companies with tangible outputs and so my purchase of blue chips TM,MAXIS and AXIATA when their prices were low prove to be my investing highlights.

I am also sad to sell off my THPLANT shares bought during the heyday of plantation stocks being the darling of investors. The consolation about THPLANT is during the massive selldown of plantation stocks in 2009 the company graciously gave us bonus issue, one to one and when the price recovered slightly many of us made gains. And it also gave relatively high dividends. I will buy back this stock later.

So here I am today ending my love affair with non-performing stocks held for more than three years and "uncautiously" beginning a new affair with oil and gas stocks. actually I have begun this affair in January this year by purchasing SAPURACrest and DIALOG. I am keeping the latter but it is climbing very slowly albeit steadily.

Looks like I am going to regret acquiring KENCANA at this knee-jerk high price today for the short term but I am taking the long position on this one. Yes, CAVEAT EMPTOR... is ringing in my ears!