For investors still holding on to cash, do not give the market a miss entirely. There are excellent blue chips out there at attractive valuations and dividend yields.
Invest in different market low points if you are not sure where the bottom is. Do not be afraid to sit on paper losses.
For me, I bought DBS @ $18.44 yesterday for its dividends. Though I am aware it will drop more than $0.20 after XD, I still couldn’t resist the lure of its dividend yield! True enough, it went to as low as $17.90 today.
The consolation is that I have locked in $200 dividends for Sept. Though it is too late to have regrets!
I have already contra my SPC for another modest $150 or so gain.
If the market dips even more tomorrow, I will pick up more blue chips and wait for a technical rebound. If not, I will also be happy to keep it for dividends and long term capital appreciation.
SGX and Capitaland will be on my radar tomorrow.