I took the opportunity today to continue taking profit off the table from my 2 holdings – SIA Engineering and ST Engineering on a rare upside day. Both stocks have given me much profits from the moment I bought them almost 2 years ago. I just have a feeling that both stocks will go much lower than their current market price which is not warranted given their flat earnings, high historical PE and weak market sentiments.
As a result of these sales, I am now sitting on a huge cashpile to take advantage of the current weak market sentiment. I can just hope I am right.
I’ll pick ST Eng – target @ 3.60 and SIA Eng – target @ 4.40 again when prices have turned more attractive levels.