ADP has been showing signs of distribution in the past month. Falling prices on higher volume:
It could be due to India's covid situation. But when reading charts: "Ours is not to wonder why".
Normally I could ignore little wobbles in a company's share price. But I think the bull market is coming to an end.
Source: Hedgeye, Jonesy's twitter
For AENA, it was a close decision on whether to let this stock go or hold it long term for dividends. Its got a decent yield, monopoly position, and could survive a Eurozone breakup. But I have enough dividends to live off, and it doesn't have enough growth potential - with a 5% yield while paying out 100% of their 2019 earnings. I need more dry powder for the next cycle.
Sold 300 shares of ADP @ 101.10. Profit SGD 8.8K, or 22% over 6 months. And 210 shares of AENA @ 134.25. Profit ~ SGD 5.1K, or 12%.
As a "covid recovery" trade, they've been disappointing.
