My Most Successful Investment
During the first quarter, my most successful investment was probably locking some of money into the fixed deposits before the rates dropped across the board. I was hoping for interest rates to continue going up but the signs were there that interest rates in Singapore would dropped based on how the yield for Treasury Bills(T-bills) issued by Monetary Authority of Singapore were dropping. Luckily, I managed to lock in some before the rates dropped.
The institutions which offered higher interest rates more than 4.1% p.a. for fixed deposits were under RHB bank, CIMB bank and Sing investments and Finance limited and there were some promotions rates offered during the Chinese year period.
I also removed a huge chunk of my US dollars from brokerage accounts and put them into DBS Bank One Month USD fixed deposit to earn some decent rates (>4% p.a.) with different maturing dates so that I still have the liquidity when needed for the stock market. Although other banks offer much higher fixed deposit interest rates than DBS, I still put them in DBS because I can transfer the USD in and out quickly without having to worry about telegraphic transfer fees.
Now the rates for 1-month and 2-months USD fixed deposit are actually higher than that for 3 months and longer period. Looks like the banks are really expecting the Federal Reserves to drop interest in the second half the year.
DBS Fixed Deposit Rates
My First Quarter Performance
Nothing much to shout about, just some options play here and there. I think the worst is that I bided too high for some of the MAS T-bills and failed to build a continuous T-bill ladder. At some points in the first quarter, I was trying to place my trades by going against the uptrend, but I am wrong as the market is always right. Luckily not much losses as I trade in small sizes.
Lesson Learnt
I was hoping for $ASML Holding NV(ASML)$ ASML to drop further from its October lows and to add more to my positions but this never materialize. Instead ASML together with the rest of semiconductor stocks skyrocketed. The stock rallied almost 90% from its lows in October 2023. So I make a mental note to myself, the next time ASML goes into the oversold region, I will be sure to add some and not keep waiting. I think some time in the later half of the year, I may enable auto-invest in ASML.
ASML Day chart
My Investment Plan for the Remainder of the Year.
I still do not feel safe putting my money into buying stocks as I feel the market is too optimistic. I was expecting the stock market to correct more when the banking crisis unveiled, but the market was so resilient. Therefore, my plan is to mainly purchase Put Options when I see certain stocks or ETF are overbought and scalp some small profits during pullbacks. Some of the low-lying fruits are $NVIDIA Corp(NVDA)$ and $Invesco QQQ Trust(QQQ)$ as both their RSI are in the overbought (above 70)regions based on the the Day Charts below.
NVDA day chart
QQQ Day Chart
@TigerStars @MillionaireTiger @CaptainTiger
Thank you for reading.
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