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    Stocks are bought on expectations, not facts.

Supercalifragilisticexpealidocious

It's hard to remember my bullishness on the Dow (only short-term) when the Philippine market still failed to perform better than expected after the Dow's 125 point gain last Friday. In fact today, we saw some very heavy selling. We were up around 31 points in the beginning but as trading progressed, that lead went down to as low as 0.45.

I have to admit I am very frustrated right now. I think a lot of people are. Prices have gone back down to my cost making it "alanganin" to sell. Aside from that, I'm also confused. Previous analyses showed a bullish second half but now, although there has been no break down yet, people are calling the market toppish. Then again, we really can't avoid a little speculation since that is really what the market is all about. But that still doesn't change the fact that I don't know what to do.

BTW, I'm starting not to like EDC's move. A bear flag is in the works as long as it's resistance at 4.95 to 5 holds.



- Posted using BlogPress from my iPhone

4 comments:

Anonymous said...

In your "Welcome back..." post why is the lefthand margin of comment box "putol"?

Anyway, 192 was the heavy buyer of EEI from low 3s and absorbed most of the selling of 333 and 323. I think he spent his last bullets when he charged at 3.65. Whoever he is, if he panics...oh well. I'm pinning my hopes on 118 to catch my load. Ha ha.

melvin

Christina Hunt said...

It's not cut off in mine... Nothing seems to be wrong in my window... Hmmm...

Ayan! 118 is flexing his muscles! Hahaha!!

Anonymous said...

118 is short on gym-time, not enough muscle. Ha ha.

Sold out of EEI. Looks like bids on preferreds are building up.

Melvin

Christina Hunt said...

Hahaha! 118 has enough muscle. It just doesn't want to show off. Lol. Mas agressive talaga sellers today. I sold my eei today. Actually, almost all my positions. Haha.

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