I certainly didn't expect ICT to reach my target so soon. I was just getting ready to buy then poof! 32 pesos na cya. Haha! See, our computers in the office kinda break down during the first few minutes of trading. Thing is, ICT had already broken above its flag's resistance by the open and was already trading at 32.50 by 9:33am. So, would I chase after it? With our computers acting up and ICT already soaring, I felt uncomfortable to chase it. But congrats to those who made money on this one!
I had a realization today. All my current holdings are the heavyweights...the bluest of the blues. Imagine, I have SM! Haha! With the small caps and other stocks currently trading at their lows now recovering, I have decided to play some short-term games. I think it was right about this time last year that I did. These stocks bear more volatility but at least, when they spike up, they SPIKE up. Hmm... Operation Tsupita will now commence. This will take a lot of getting used to. I have been position trading for several months now. Let's bring in the excitement! ;) I'll tell update you guys about my success and failures. Haha!
Since we're in the topic of success and failures, I failed to join the fun in SFI. But anyway, EEI almost successfully broke above its resistance today. Too bad it was closed at 4.05. I think the players of EEI took their cue from HI which reached an intraday high of 3.25. Thanks to my mentor, I was able to ride HI.
2 comments:
ms. hunt do you think there will be a continuation of SFI tomorrow? how about RFM?
Hmm... I think it's possible for SFI to still go up tomorrow but if you don't have any positions on it, it would be too late to chase it tomorrow. SFI went up spectacularly today. I doubt tomorrow's move will be as huge. I checked its price history and I noticed that only once or twice, out of the several spikes it made did SFI have a follow through as huge as the previous day's move. If you weren't able to buy, like me, you can probably wait and see if a flag would form.
As for RFM, my immediate target of 1.28 has already been achieved. It is currently around resistance levels but its ascending triangle is still intact with an upside target of 1.44. A good setup would be a consolidation at current levels (1.20 to 1.30) before it spikes up to accelerate its uptrend. :)
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