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    Stocks are bought on expectations, not facts.

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Exciting last few days for ORE holders. Yesterday though, ORE showed its first sign of weakness. Huge volume near its resistance, coupled with a weak close after two days of strong and sharp price movements, point to a short-term correction. Break of 1.90 to confirm. Support may be found around 1.78. 

Hmm....I wonder what's next in line...I've been hearing it's gonna be TUNA...strong rebound off its support at 1.62 but is now hesitating below 1.76. 

I'm quite happy with my recent purchase of MPI. My only regret is not buying enough. I already sold half at 3. In fact, I thought I wouldn't be able to sell at 3. During the latter half of trading, the number of sellers were increasing from 8M to 20M, 30M then finally, 50+M. But, for some reason, during run-off period, the buyers went wild. Naging buyers pa ung 3. Amazing! With the huge volume yesterday, it looks like it will retest its horizontal resistance of 3.1 and maybe its recent high of 3.25. Hmm...Where shall I shift my money to next? I wanna get more MPI but I'll do that after this swing. 

2 comments:

Anonymous said...

MPI looks to me like an inverse head and shoulder, neckline resistance somewhere 3.20/3.25. Pattern target at around 4.20, refill of a large gap area.

Melvin

Christina Hunt said...

Yeah, I agree. Saw the inverted H&S too. Neckline is at 3.3. Looking good! :)

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