I toyed with the idea of selling both Singtel and Capitaland, while using the profits from Capitaland to cut loss on China Sky today as I'm rather bearish. In the end, I only executed a sell order on Singtel.
My main reason for selling Singtel was simple.
1) I'm bearish about STI index, and Singtel is a major component of it.
2) Based on the Singtel chart I have below, Singtel was on the resistance line yesterday. I sold because of that.
3) From chart again, we see a lower high and lower low. Based on Dow's theory, this is bearish.
4) From chart again, Singtel was at the 38.2% retracement level. On hindsight, Singtel went on to touch the 50% retracement level, and come back down to close at the 38.2% retracement.
Initially when Singtel touched $3, I was thinking if I have made the wrong decision to sell as it appeared to have broken resistance. On hindsight, seeing that Europe and Dow Jones just crashed, I believe my decision was good. Singtel closed at $2.96 as well. There's a high likelihood I will be able to buy it cheaper based on charts.
On hindsight yet again, perhaps selling Capitaland would be a wiser choice. I didn't sell because I know the price I got it was super cheap (<$2).
For my dividend stocks, I left them as they are. Shall see...
With the sale of Singtel, my monthly dividend amount has dropped to $713. I might buy back Singtel in the near future if it drops enough.