It's almost funny how fast sentiment changes. Keyword: Almost. Just last Friday, I was in a sing song mood. Now... You can say I've been grumbling the whole day.
With the Dow just marginally down, I thought we'd finally breakout today. If we were able to go up when it was down 150 points, what more on an unchanged Dow? *grumble* *grumble* The market was up almost 22 points but almost all of my stocks were unchanged or down. If it weren't for the forced closings, we ought to have closed just 4 points up or around those levels.
My officemate was joking around this morning. Somebody was asking, "Breakout na ba?" Another trader replied by saying "Breakout" but he intentionally made his voice small. Haha! Unconvincing breakout, it is! Obviously, the "breakout" was not sustained and we closed right below resistance.
I'm a bit worried for my all time high stocks like DMC, JGS, AP, and AEV. Before, when a stock treads on a new all time high, it is able to gain momentum and rally further. The move is fast. These days, I can't help but feel the weight of these stocks. They seem heavier now. Instead of rallying, they trade within a range.
I completed my buy order on RCB today. I also bought back UBP at a higher price. Tsk. I had this one 41.50 a few weeks back. Cut loss at 40.50 and 41 only to buy back higher today. The question is, will it be sustained? Our market lacks continuity sometimes.
Oh yeah, for the first time, I bought VLL. Haha!
Even though today wasn't that great, I'm still singing. Here at SM, we got it all for you! Check this out:
Every time SM loses its sell postings, I make sure I post a sell order at 500. See there?! That's me!! Say hi!! :D
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