Today I bought 2 lots of SPC @ $5.42 mainly for trading purposes. Again, if it falls badly tomorrow, I will not be cutting loss and will keep it till the next dividend payout.
SPC share price has been plunging due to crude oil prices. It doesn’t really make sense as it does not profit from high oil prices either. It is likely the fall in crude oil signals falling demand for oil refinery products as well.
In any case, the US markets and crude oil prices will dictate my realise gains or unrealised paper losses. I do suspect that many traders were shorting SPC shares today. Hence, there is a slight chance of a small rebound tomorrow where I can exit for a modest gain.
Readers are reminded that my trading will be limited to $9k-$12k contract value, as it has never been my intention to substitute trading for income investing. The stocks I shortlist for trading will also be blue chips, for liquidity and dividend reasons.
Singpost went XD today. I have secured $625 dividend payout receivable on 29th August.