This counter's price started trading in the day at $0.027, I immediately downloaded the earning report & digested the news. Another positive abeit speculative factor is that the management is looking for potential company for reverse takeover and encouraging MMCG to do an Initial Public Offering.
To be frank, I did not even research what does MMCG stand for, the only calculations I did were:
Dividend Yield %: $0.009 divide by $0.028 (price traded at 9.30am) = 32.1%!
NAV: US 2.99cent = roughly SG 3.73 cent (simply multiply by 1.25).
Cash Per Share: US $9,763,000 (Cash and cash equivalent in Q4 report) divide by 1,035,370,220 (total shares issued) = US $0.00942 or SG $0.011 => {this means company able to pay the large dividend}
Naturally I jump into action & bought 500 lots immediately at sell price $0.028 (bid price was $0.027).
My thinking was to wait for few days as I am quite confident that a dividend yield this high plus the various positive management commentary, high NAV, Cash per share etc., for a while in the morning, the price dropped briefly to $0.027, but I ignore and went back to work...(feverish overwhelmed by daily work again, its hard to be an employee :(
Of course, I set a price alert with one of those free Android apps which you could find, but remember that the app is base on Yahoo price which is 10mins later, plus our lousy 3G network, sometimes after the alert, the real-time price may be gone.
Well, in this case, I immediately sold away within the same day at $0.032, netting a cool net profit of $1,894.87. Great huh? well the stock closed up at $0.034, I wont be surprised if the stock go higher over the next few days... But I have earned my day...
By the way, just in case you are wondering who's Timothy Syke, he's a self-made millionaire, money manager that focus on penny stocks. His strategies and past trades that he discussed in his courses, are rather insightful and interesting... Basic lesson is still one must know what he's doing when he buy/sell, he traded skillfully especially in cases such as "pump & dump", speculative news (aka story telling)...etc.
If you are interested in his courses with a additional Singapore note that explains with real past examples on how to trade penny stocks in Singapore context, all these for only SG$100!
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