Tuesday, July 12, 2016
BJtoto : Defensive trading
As I have been trading BJToto for 5 years now, started to buy around RM4.20 (ex-div many times, mind u) ... and trading her.
This is a boring-stock ... but it is a VERY good defensive-trade, especially many view KLSE @ RISK.
Each time it comes to RM3 or below, I will collect ... and WAIT.
Resistance at RM3.20 .... so I sold huge portion during closing at RM3.20. I bought at RM2.95 for this portion recently and its low was RM2.88 (I parked to buy more at RM2.80, never done).
Note : I do still have part of BJToto. If market is to crash, this is one good counter to buy in huge position but will not be able to give us few hundreds percent(which I m aiming).
I will be buying back if BJToto back to RM3 and sell all my portion if it went up to RM3.80. So ... wait patiently ... do nothing.
Time for dinner.