Sorry, sorry! I haven't updated since Friday. I didn't have internet the whole weekend. Then today and yesterday, I was out most of the day. Anyway, let's talk PHISIX. We are currently in a correction mode and once again, approaching support levels. Can we hold above support at around 3,360 or will we break first before we make a quick snap back up? Our market does not exactly have the smoothest uptrend so I wouldn't be surprised if it does that. In fact, our market has done that several times already during the past three months. We can thank the Dow for that. :P
Something different happened today. I saw some issues rise from the dead. For starters, there's PAX and IMI. IP tried to rally alongside PAX but it was met with resistance as it was sold down to close the day at 1.36 from a high of 1.44. If you want a speculative issue that hasn't gone up yet but is starting to show some spunk, IP might be a good candidate.
Side note: I don't usually watch APX but I noticed that during the past week, it has been trading above 2.50. It hasn't done so since February of this year.
Now, for some positionalysis... I bought more GMAP/GMA7 today. I believe that this one has already bottomed out at current levels. Also, if I play the contrarian card, a lot of people are bearish on this one already. I heard this was a buy below 6. If this is the case, then you will not be able to buy below 6! Indicators look bullish to me but I will still need to confirm tomorrow if my interpretation is right. Hahaha! Personally, I'm not scared to take a position on GMAP/GMA7 even with a weak Dow because I consider this one as part of my autistic stocks list. Last year, it even gained momentum when the market was correcting back down. I will always just take note that the current trend of GMA is down so failure to hold at current levels warrants a sell.
I didn't do anything today besides buy more GMA. I got tempted to sell my other issues but decided to hold my ground for now. And then... that's it! (Haha!) A rather boring Tuesday morning for me but an exciting one to those who have VLL, RFM and ORE. :D
5 comments:
aha! kaya pala tumaas gma :) hmm, i'm thinking of buying pax at market tonight for a possible 150ema breakout. tapos trend following na lang :)
Hmm.. Hindi ko gusto ginawa ng PAX today!
Pero cool o, Harley, meron bullish divergence sa MACD. Too bad we didn't spot it sooner. :P
meron din double bottom/i h&s :) panget nga lang ng move today!
I can't see the inverted H&S but the double bottom, I can see. Has to hold above 1.98!
Post a Comment