Just Another Manic Monday

The banks are back! Instead of the usual BDO-MBT-SECB trio, we have the laggard PNB-RCB-UBP trio moving this time. I recall I mentioned two weeks ago that these three have similar charts. How interesting that they also gathered momentum to breakout at the same time. Of the three, I think UBP was the strongest today, followed by PNB then RCB. 

Shux, I don't have any banking "stuck"! :-P

Since I no longer play momentum stocks, I decided to just let the banks go. I prefer to anticipate a breakout rather than chase the ones that are currently "hot". One of my experiments paid off a little today. I started buying PIP last week at 2.65 in an anticipation of a breakout. I bought more today at 2.75, only to sell it one fluct later at 2.80 for some pan de sal money (meaning, less than coffee money). I actually have a GTC sell posting at 2.85 but that wasn't matched so when 333 started selling at 2.80 and the postings at 2.85 and 2.90 became more than 1M, I decided to just day trade what I bought. 

Speaking of experiments, GMAP is performing below expectations. MACD failed to cross up. I'm giving it a few more days to stabilize. If not, I'm out. 

LPZ and FPH continued to be strong today. EDC and FGEN look like they've bounce off their support at 4.65 and 9.8, respectively. Now, the question is, will they be able to gather momentum from here? If you weren't able to get LPZ or FPH, my best bet is EDC. It just needs to break above 4.80 and we may be seeing 5 again. 

Based on position (Haha!), my favorite group is the Gokongwei family: JGS, DGTL, RLC, and URC. I don't have DGTL but I believe this one has bottomed out. JGS is a bit 50-50. I don't know if its just resting before trending up again or if it will correct first. Right now, JGS looks a lot like EEI. At least two weeks ago, EEI was consolidating at its highs but last week, it broke down. So, I'm a bit worried when I think about the similarity of JGS and EEI that way. RLC is on the brink of a big move. URC, I bought today at 29. When I looked at URC's chart again though, I realized that URC has a tendency of breaking down first before continuing its trend. Hmm... :-S 

I'm also rather interested in MER, ICT and DMC as a possible bull flag is in the works. In my bottom picking stock picks, I am watching ACR and GEO. Operative word here is "watching".