Thursday, 5 March 2020
STI ETF under $3.00 (waiting since 2016)
I have a rule that I only buy STI ETF when it is under $3. The last time this happened was 2016 which coincidentally was the year I started this blog.
On 6 March 2020, STI ETF finally succumbed to selling pressure and went under $3. However, this was a Friday, and I'm worried about trading on Fridays because shortists are closing their shorts which may distort the market and things might happen over the weekend.
So I'm starting small first using my CPF-OA and will start averaging down next week if the downtrend is confirmed.
Given the high volatility, I've also initiated a small position in CISCO as I'm buying into the story about video conferencing a growth industry due to the COVID19 situation.
I do not necessarily want to use all my CPF-OA warchest on STI ETF, so I'm also ready to consider adding to my CPF unit trusts in order to diversify
Then at night, I added $5k worth of VUKE. So my total opening deployment is about S$17k