Further trimming my holdings on Armarda on 26th June 2007

For the past week, Armarda is testing my emotional limits with each higher closing in share price each day. Without any news to justify such near ridiculous price, I really find it difficult to hold on to it. I am afraid my paper profit will vanish into thin air.

As I had identified in earlier postings on Armarda, I am aware that there is anticipated profit growth in coming quarters due to the Joint Venture with PRC's FESCO group. However, at 22 cents, it is trading way above the most optimistic valuation I can come up with.

Without many options of undervalue stocks and my stubborn reluctance to sit on spare cash, I decided to pare off some of my Armarda's profit and acquire more of Tsit Wing. To date, I have taken back my cost of buying Armarda and my required return in investing in Armarda in the first place. Now I'm down to halve the amount of Armarda I used to hold.