The market volume is quite good for the past few trading days. So I decided to take profit on SKPetro and sold my 2000 units at RM2.85. Earning 25.92% or RM1.2k in less than two months is not too shabby huh. In my opinion, there will be more chances to earn short term cash like this in the coming months due to the volatility in the market. Lets not forget that GST is on the horizon.
GST itself is actually a good thing as Malaysia has got a very huge shadow economy. In order to tax this shadow economy, GST is the best choice. You pay when you consume. There is no running away from it. And it is harder to evade tax too with the computerized system. I reckon, people will push forward their big ticket purchases and this will leave a huge lull in the economy after the GST. Retail and property will be hardest hit. Then stocks like Padini will be worth considering. So cash could come handy then. From now on, I will build up my cash holding and invest in dividend stocks whenever possible.
Huat Fund looks like this after this transaction: