This is excellent news! Sold some properties, reduced gearing,...

This is excellent news!

Sold some properties, reduced gearing, still within covenants, yield of 17%, reduced the mark to market swap liability by half!

Although I sold some of my holding on a recent run at 34 cents (sorry, I couldn't resist), I'm back in today.

Trading this is proving too easy! Let me guess, next step will be to hold until mid 30's, sell again then buy back in mid 25's a month later.

Don't worry, I'm not so naive to believe I can keep getting away with this indefinitely, but I'm happy to keep doing it for as long as it works.

CWT should still be a great buy in the long run.