Tong’s Momentum Portfolio - Feb 27, 2015

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THERE were few leads from US markets after the Dow Jones Industrial Average and S&P 500 closed little changed at 18,224.57 and 2,113.86, respectively, on Wednesday. Regional markets, however, ended mostly in positive territory on Thursday, after U.S. central bank reiterated that that it will continue to be “patient” on a rate hike in its testimony to Congress.

Elsewhere, Brent crude futures traded higher at about US$62.30, at the point of writing.

The FBM KLCI closed five points or 0.28% higher at 1,820.87 yesterday. Among the top gainers was Integrax. The stock closed 20 sen higher at RM3.22 after Tenaga upped its takeover offer price from RM2.75 to RM3.25. Overall market breath was positive, with gainers beating losers by a 1.45-to-1 ratio.

I bought 48,700 shares in Raya International at 20.5 sen per share yesterday, after the stock was picked up by our proprietary algorithm for positive momentum on The Edge Markets (www.theedgemarkets.com).

I also disposed my entire stake in Mieco, making a profit of 5.8%. I continue to hold on to Hovid (unchanged), Ecofirst (-1.5%), Elsoft (-1.6%), Homeritz (1.7%), London Biscuits (-0.6%), Supercomnet (unchanged), Ingenuity (unchanged), Mclean (-2.3%) and Top Glove (0.6%).

My portfolio now has a total value of RM102,111 and is up 2.1% on the initial capital of RM100,000.

It has outperformed the FBM KLCI by 5.9% since inception.

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This article first appeared in The Edge Financial Daily, on February 27, 2015.