Stocks are bought on expectations, not facts.

Philippine Realty & Holdings Corporation (RLT)

In the medium term, RLT is moving sideways with support at 0.58 and resistance at 0.76 to 0.77. Notice however, the hammer it formed this week, which suggests a possible bottom at 0.67. If this is the case, then RLT would look like it is already forming bullish higher low. If it follows the suggested upward channel (red line), then RLT has a target of 0.90, although its range suggests an upside of 0.18 or a target of 0.94 should it breakout above its current range.

In the daily chart, a convincing break above last Friday’s close of 0.71 should confirm that it is ready to resume its uptrend.

Resistances to watch out for are the 0.76 and 0.87 levels as RLT has not been able to trade around these levels since late 2006 to early 2007. It attempted to break the 0.76 level last December 2009 but was unsuccessful.  RLT retraced to as low as 0.55 before bouncing strongly off this low. RLT is currently hesitating below 0.76 again but if it is able to break above it this time, then it may retest 0.87 with an eventual target of 1.10.


How did you enjoy your bloodbath last Friday? I certainly had the time of my life! Please note my sarcasm. (Haha!) See, I bought AGI last Thursday. The setup looked promising. AGI fell for the third day last Wednesday then formed a potential bullish inside day pattern (with volume) the next day. That was the time I bought. Unfortunately, that formation failed and I was only able to get a third of my position out. Again, I just posted and posted, thinking AGI should rally one way or another. It did rally, but it was very shallow. The culprit: DBP Daiwa! Tsk tsk. They were selling across the board. Naturally, others followed suit that further deepened the correction.

Last Friday was a selling day for me. I sold EDC, CHIB and some remainder shares of VLL and BEL. I realized that I'm still slow in taking losses. Because of this, my recent losses ate up a huge chunk of my recent profits. I'm fast to take profits but I'm slow to cut losses. That's just wrong! I'm currently reading a book called Market Wizards by Jack Schwager. It's basically a collection of interviews with top traders. One of the people interviewed was Marty Schwartz. He said, "Learn to take losses. The most important thing in making money is to not let your losses get out of hand." 

I think I'm ready to take that break I keep on delaying. Besides, I think I'm really gonna have to because over the weekend, I developed a fever. Today, I'm still lightheaded. My ever supportive dad told me to rest for a week! Haha! It's now or never. 


I picked the wrong Lopez stock. Yesterday, EDC and FPH looked like they held above their support. I bought EDC because... Well, I've always bought EDC! But if you think about it, I should have picked FPH because it will always look stronger than EDC since FPH is closer to its highs. Ugh, the force of habit! See, if you want a stronger bounce and you'd like that to come as soon as possible, you go with the one in an uptrend. Actually, FPH is moving sideways to up. That's definitely stronger than sideways to down, which is the current trend of EDC. For short-term plays, the reason why you want the stock that barely retraced is because in that situation, there are more people who will bid prices up rather than posting below then selling above. 

GMA Holdings, Inc. / GMA Holdings, Inc - PDR

GMA7 is trending down. In fact, ever since its ex-cash dividend last April, the downtrend accelerated as seen through its sharper negative slope. Had it retained the same negative slope, GMA7 ought to have found support at 6. Instead, it broke below it and fell to as low as 5.6. I remember I bought GMAP and GMA7 last month around the 6 level. I told myself that a failure to hold above 6 would mean that GMA is headed to 5.3, which is its 61.8% retracement level. I also remember a lot of people being very bearish on GMA already and that made me very bullish (Haha! Contrarian play). I still got shaken out though because it fell below 6 but as we all know, it didn't go down as far as 5.3.


This morning, the market was halted when trading had barely begun. We were idle for about thirty to forty five minutes until trading resumed around 10:35 am. Consequently, market hours were extended until 12:40 pm. For the past few months, the market has been halted so many times due to network problems. I noticed that after the halt, people seem to be in a hurry to buy something. The flavor of the day seemed to be FLI and MEG. See, before the halt, sure, they gapped up but stayed around their opening prices. When the market was halted, then resumed, poom! There goes the buying pressure. It's as if people don't try to time their buying anymore. I guess the feeling is they're running out of time so, just buy, buy, buy! I actually got confused because so many issues were moving! I bought AGI because it didn't move that much yet. Then also bought more GMAP. Thank you, 220 and 118! Keep up the good work! ;)

Major Major Wednesday*

If yesterday's 82 point decline was exaggerated, then today's 23 point rise was inflated. The major contributor with the index's movement today and yesterday was ALI. Yesterday, 1.4M shares were sold down at 14, which is 2 pesos below its normal price of 16. So, it was no surprise we were able to end the day up because ALI, naturally, bounced back to 16 today. Well, enough about ALI. What happened to the rest of the market? There were certain issues that fell like AGI, SMDC, URC. Banking issues like PNB, UBP, MBT were particularly weak today. Among the Lopezes, only EDC and FPH seemed to have found a short-term bottom. I hope their support holds. :-P 

This morning, I definitely felt like the market was sinking lower and lower. There was an intraday rally but by the close, we still closed near the lows. I was totally uncomfortable with the market as I definitely felt some selling pressure. Is this the opportunity to buy? Well, I bought EDC since I saw that its support at 4.60 held. As usual, I'm only after the bounce. Every time I buy in expectation of a strong continuation, I see profits turn into stone so I already have a posting to sell starting at 4.80. Besides, EDC is still on a downtrend. It is possible that it may already be forming a higher low but that has yet to be seen. Besides, it retraced 60% from its high. That big of a correction says that the stock isn't that strong. Another issue I bought was ORE. 

I made a wrong call on MPI. I bought at 3.31 and 3.32 because I thought it was ready to resume its trend. Unfortunately, it was sold down. I sold at 3.25 and 2.27. I still think the setup of MPI is promising. The strongest setups are those that don't want to go down. This reminds me a lot of LPZ. Both are still consolidating near their highs but somehow, I don't feel comfortable holding them. I have LPZ, by the way. These days, my greatest enemy is my impatience. 

*I got the title from the stat of my friend, Pau. :) 

Update: First Philippine Holdings

Uh-oh! Instead of holding above support, FPH broke below it. It is clear (in hindsight :-P)  that FPH formed a bull trap when it broke above its range of 51.50 to 59.50. It formed a peak at 61.50 before correcting back down and breaking below its new support at 59.50 and 58.50. FPH now looks poised to retest its (red) channel's support at 56. As long as it is able to hold above 56, then I believe the bulls may still have a fighting chance. 

Update: EEI Corporation

Remember this pattern: Failed descending triangle, consolidation, breakout


I know you know how far BEL and PNB have gone after their breakout.


For the original post on EEI, click here.

Metro Pacific Investments Corporation (MPI)

We are all aware of the strength MPI demonstrated starting the second half of July. However, last week, its uptrend accelerated and today, confirmed its short-term peak at 3.46. I'm open to the possibility that MPI can still resume its uptrend after a slight correction. Note its support levels around the 3.10 to 3.25 area, which also happens to be its 23.6% to 38.2% retracement levels. If MPI is as strong as I think it is, then it should no longer break below 3.10. 

In the medium term, we can see that MPI is moving upwards within a very wide range. At current levels, MPI is definitely closer to the top than the bottom. In the chart below, I encircled prices near its resistance line with their corresponding volume. Notice that in the past, prices peaked when MPI had a relatively spectacular volume with its corresponding price close to the resistance line. Last week, MPI registered a volume of 84M and 108M when MPI has not reached a volume more than 65M starting May of 2010. Following trend alone, this says that MPI looks ready to head back down to its support line. But given the bullishness of our market, let's give it the benefit of the doubt. Be on the look out to buy back on the the formation of a bullish higher low. If MPI is able to deviate from its prior behavior, the break of its resistance line should be a very strong move. Also note that MPI has a big gap to fill starting 3.80 to 4.70. 

First Philippine Holdings Corporation (FPH)

After its sharp price move last August 16, FPH failed to resume its uptrend. In a horizontal view, FPH looked like it broke above its range with resistance at 58.50 / 59.50, but the three black candles that formed last week indicated a hesitation to trend up from there. Last Friday, FPH slightly gapped down but found support at its prior resistance at 58.50. If it is able to hold above this level, then FPH may still be able to trend up from here. I drew a (red) upward channel, assuming last Friday's low will be the start of the formation of a higher low. If FPH is able to follow this trend line, then it may already be targeting 65. 

Recommendation: Buy if support at 58.50 holds

China Banking Corporation (CHIB)

CHIB moves in a different cycle from our favorite banking issues like MBT, PNB, RCB, UBP, etc. The news last May that it will be included in the index was very bullish on CHIB as it was able to climb almost 100 pesos before finding a peak last June 4 at 434. It has been consolidating since. At current levels, CHIB looks like it is trying to bottom out with support at 396 and resistance at 402. If it is able to convincingly break above this resistance, then CHIB may retest its symmetrical triangle's resistance of 425. Whether CHIB can resume its uptrend will depend on whether it can break above its triangle's resistance. 

Recommendation: Buy if breakout above 402

Philippine Stock Exchange Index (PSEi)

Starting mid-july, the PSEi's upward momentum waned (red channel vs. solid blue channel). The index even broke below its support line last August 13 but apparently, the index was able to rally back to its highs and break its current resistance (red) line. The index now looks ready to resume its prior upward channel with resistance around the 3,650 to 3,700 levels. 

Our head technical analyst alerted me of the possibility for the market to do a parabolic spike. Now that I think about it, certain issues had already gone ahead like AGI, LPZ, MEG, to name a few. Their recent uptrend is also almost vertical, which is characteristic of a parabolic spike. But parabolic spikes usually indicate that the end of the uptrend is near. However, as I recall, AP and AEV were in a parabolic spike. The more people tried to guess their top, the more it continued to go up because people who sold early kept on buying back higher. 

For now though, I don't see the parabolic spike in the index yet. Yes, I see a strong short-term uptrend but I wouldn't call it parabolic until the index's uptrend accelerates and accelerates. Maybe the break of the 3,650 to 3,700 area would trigger it. Then again, who trades the index? Let's look at individual issues! ;) 


I think I need to reassess my trading strategy given the obvious strength in our market. Some issues are accelerating to the upside. I haven't decided what I should do: Buy the stocks on a steep uptrend (on a flag formation, perhaps) or the stocks that may be bottoming out (but still in a short-term uptrend), like my usual strategy. Problem is, I'm having a hard time looking for stocks that are bottoming out because they bottomed out today. With this, I'm leaning more towards my first option. Let me review the charts then hopefully, I can figure out my game plan. 

BTW, can you tell, I want to buy something? This morning, there was definitely that desire and I think the whole market felt it too. After trading, I felt so tired because I felt like there were so many stocks that went up and I didn't have enough stamina to catch up to them. When I finally did, they went backwards! You get what I mean? To demonstrate, I bought LPZ and BEL. Before I bought, they were going up so I chased them. When I was finally given some shares, they went below cost! Whuuut? Hahaha! The only right decision I made today was buying DMC at 21.35. 

I hope market sentiment remains the same on Monday. I know how the market and its participants can be fickle (because I am fickle too. I just take my cue from the market. As they say, gaya gaya puto maya! Paglaki papaya!). :) 

May Pera Ito

The reign of the Lopezes ended today. EDC and FPH looks toppish while LPZ continued to correct back down and FGEN was almost unchanged (forming a flag, maybe?). The banking sector dominated with MBT, BDO and RCB leading the way. SECB, UBP and PNB were also gainers but their move wasn't as big as the previous three. Among the six, PNB was the weakest. Sigh, I have a position on PNB. I bought last week and I was totally disappointed with its move today. Anyhoo, MBT was great so that kind of evened out my emotions for the day. :-P 

MEG and FLI remained strong today but I believe they are currently facing resistances at current levels. Speaking of resistances, MPI broke above its short-term upward channel resistance at 3.30 and closed the day strongly at 3.42. If I follow my acceleration rule*, then MPI would already be a "take profits". That's a short-term recommendation, of course. Plus, MPI has a medium-term resistance at 3.50. If you looks at it in a longer view though, MPI looks like it has already bottomed out so may be taken as a "buy the dips". 

A client, obviously happy, said today, "M.P.I. May Pera Ito." Woot! Haha! Just for the record, I don't have any MPI shares. :-P

*Acceleration Rule: Sell when the price range expands significantly on a stock that is trending up. To demonstrate: 

In the case of LPZ, my acceleration rule failed even when a bearish harami formed after its acceleration. That was a very bullish indicator so LPZ even rallied after. But just as a general rule, I make sure to sell on an extra ordinary price move and its location in the chart is near the top. 

Happy Wednesday

With the way EDC behaved today, I believe it answered the question I asked yesterday: Which would come first, a correction or a retest of its resistance of 5 pesos. EDC was the strongest Lopez stock today, closing strongly at 4.96. You can expect resistance around 5 / 5.20. For those who are still holding, you can take profits somewhere around that area. For those who don't have but are waiting to buy, continue to be patient, our time will come! Mwahaha! 

Today, the property sector came alive again. FLI and MEG continued to make new 52-week highs. Of course, AGI didn't lag behind with 7 pesos now within view. Even FDC was dragged into FLI's move. It was even a bigger gainer than its subsidiary. Break of 3.95, coming? Hihihi!

Well, I didn't do much today. Thanks, Dow for the support! Haha! I held my positions but liquidated one just so I have cash. I like cash nowadays. They provide a certain comfort when the Dow performs below expectations. They're like my lifeline to sanity. :-P 

Lopez Fashion

Today was a good day. PHISIX was up 22 points even with the Dow marginally down last Friday. The play still lies with the Lopezes: LPZ, EDC and FGEN. FPH was the weakest link in the group today but that shouldn't come out as such a surprise because its move yesterday was so big. Hang in there, bulls! 

I got out of my LPZ trade today as it reached all my target prices already. I was actually expecting LPZ to reach 5.20 slower. The fact that it did so fast makes me think that it can break its channel resistance of 5.20. Since I sold the shares I recently bought, normally, I would say that I want LPZ to fall already. Haha! (Mean, I know. But admit it, when you sell a stock, you want it to fall already!) But, you see, two years ago, when I first gambled in the stock market, I bought a few shares of BPC at 5. Today, BPC is now LPZ and it is doing at 5.17. So, if it wants to accelerate on the upside, be my guest! I waited for so long. A little interest from my two year investment, a.k.a. ipit, would be nice. 

FGEN and EDC. Of the two, I like EDC more. I have a sore spot for FGEN so I'd pick EDC anytime. Anyway, EDC made a strong bounce off its low at 4.31 last week. It broke its downward trendline's resistance at 4.65. It has been going up for the past seven trading days so I wouldn't really rush to buy it just yet. I want to see it retrace first then I would enter on the bounce of its higher low. The question is, what would it do first? Retrace or reach 5? I'm good with any. :-P

The property stock I was talking about yesterday broke out today and the other banking stock showed promise to break out soon. :-P  

Happy birthday, Pa!

Today is the real 54th birthday of my dad. He had three birthday celebrations. The first one was celebrated last month, and the other two yesterday and today. Anyway, he drove me to the bus station this morning and he told me he had a good feeling about the market. Apparently, he was right. Just as a side story, he is one of my human indicators for a bottom. When he tells me to buy a certain stock, it almost always is time to buy the stock already. Like a few days ago, was it Friday or Thursday that he told me to buy DMC even though there was no buy signal in the charts yet. Lo and behold, DMC bottomed out and today we see it bounce off its short-term trough. A few months back, he even called a buy for DMC at 9 pesos before it made a strong rally to 15. Great gut feel, dad! :) Happy birthday! 

Back to the market, it may not be reflected in the index yet as we were only up by 10 points but we saw some of the blues and second liners confirm the formation of a short-term bottom. Stocks like FPH, MBT, AGI, DMC, ALI, among others, made a strong bounce off their respective support lines. My officemate made a comment that it felt like the Dow was up 100 points with the way his stocks were moving. Haha! 

I was lucky enough to have been able to buy MBT at 61. I even made a mistake and bought more than I planned as I wasn't able to decrease my buy posting at 61 when I bought up 61.10. Oh, blessing in disguise! MBT closed at its highs at 62.20. Do I see a break above its previous high of 63.50 coming? :) I asked a friend about MBT. Do you know what he replied to me? He just said, "Hihihi!" Okay, let me join you!


I know another banking issue and a property issue that look like they want to breakout already. :) I hope I'm right. 

Lopez Holdings Corporation (LPZ)

In my trades, I make this rule to exit the trade during an extended short-term uptrend with a sharp acceleration in price. I remember this rule came from my successful exit in MBT as I was able to sell near the highs at 62.50 and 63. MBT then formed a flag for the next two days but failed to break out. Up until now, it is moving sideways. When I saw the same set up (short-term uptrend and acceleration in price) in LPZ last Thursday, I thought that it was already a sell, although I didn't particularly have any shares to sell. I was just looking around. Haha! Anyway, that "exit" would have been justified as LPZ formed a bearish harami upon the Dow's recent breakdown. Of course, it's natural to expect that prices should go down from there but last Friday, LPZ moved up instead. As I have mentioned before, a failed bearish pattern is a very bullish one. LPZ now looks poised to break above its previous high of 4.60. You can expect resistance at 4.85 then 5 but its upward channel suggests a possible upside of 5.2. Caveat. 

Advance Happy Friday the 13th

This morning, I woke up to the sound of an incoming text. It came from my officemate greeting us an advanced happy Friday the 13th. Whut?! So... Friday the 13th came early. Now, can we have a normal Friday tomorrow?

I sold all my AGI today for a 14 to 18 cent loss. It was so difficult to sell because the postings were so thin. The next thing I knew, AGI was already down big time. Under the old fluctuation rule, that's four flucts! What a disaster! I was tempted to buy something today but as always, I have more stock positions than cash. I don't want to add to my exposure to the market so I don't buy. I just realized now that in the past year or so, I don't buy anything in breakdowns. I either sell or hold. I have been like this since I started trading. 

Anyway, some stocks were able to rally from its lows like DMC, SCC, EDC, and FPH. I particularly like EDC and FPH but given that EDC is moving sideways to down, I'll pick FPH instead. I was surprised with ANI today. Bottom at 14, confirmed! Although I doubt tomorrow's move would be as spectacular. If it still is, thank you! I still have leftover shares. Haha! But seriously, I doubt most of the people who bought a few weeks ago were able to sell. 

First Philippine Holdings Corporation

A few days ago, FPH broke below its its tight consolidation with support at 55.20. It fell to as low at 54 before slowly inching upwards until finally, today, confirmed that it formed a bear trap as it broke above its prior consolidation's resistance at 56. I will remain bullish on FPH as long as it holds above 55.4 or 56. If it is able to hold around these levels, then I believe FPH can retest its medium term consolidation's resistance of 58.50 / 59.50.

Recommendation: Buy if support holds

South China Resources, Inc. (SOC)

Filinvest Development Corporation (FDC)

After its sharp uptrend last June, FDC retraced 38.2% from its high of 3.95 to reach a low of 3.20. Notice, however, the series of higher lows it made after that. Last week, I was already watching this stock for a breakout. Finally, yesterday, it broke above its minor resistance at 3.50 to close the day with a long white candle at 3.56. There was a 4M cross today care of 220, but if you take that out, volume remains exceptional with 5M. I would remain bullish on FDC as long as support at 3.50 holds. Based on today's move, I expect a retest of its previous high of 3.95. 

Ghost Month

Say hello to the first day of the Ghost Month! Let me just say, based on today's behavior, it seems that a lot of people don't believe in ghosts. It would be interesting, although I'm not that curious, to see how people would react to a down Dow. As of 9:50 pm, the Dow is down 130 points. Before U.S. trading, I had intended to write about how critical the big move that the Dow is about to do for our index. See, in the short-term, the PHISIX resembles the Dow. Our index may be stronger as seen through the sharper ascents as compared to the Dow's sideways to up movement but notice the tight congestion present in both indices. A big move to the downside in the Dow may trigger the bull flag in our index to fail. So, Dow, fight to be unchanged! The bulls are counting on you!

Today, some mining companies actually rose from the dead. AT was the strongest, closing at its high of 10.50. I doubt that it will revisit its low of 9.6. It looks like a buy the dips already with support at 9.8 / 10. Was there a cross sale in AT yesterday and today? Volume for the past two days has been spectacular. PX, on the other hand, bottomed out two days ago at 9.9. Unlike AT, PX's recent bounce had no volume. It also still has to take out its immediate resistance at 10.50. Until it does, I will continue to assume that it is merely doing a dead cat bounce. NI is still consolidating while MIC broke out today. Personally, I will not buy mining stocks yet. I will wait for the setup that I like to form, that is, a consolidation after a big move up, like ANI at 16, before it flew to 18.75. 

Aside from mining issues, GMAP and GMA7 look like they have finally found a bottom, although I don't think they'll have such an easy time trending up from here. They have been in a downtrend since August of last year. For sure, it will be met with resistance. 

Anyway, the highlight of my day was, of course, the three stocks I bought yesterday: DMC, SCC and AGI. I was even able to day trade DMC for a 45 cent gain. I actually didn't intend to day trade DMC. It's just that, it spiked today so just to be on the safe side, I sold the shares I bought. I'm chicken that way. Haha! VLL was spectacular too. It broke above its previous high of 2.50. Will we be seeing new heights from here? Wait for me first! Haha! I also bought PNB. It's okay if we see new heights for PNB. :-P

Tuloy Ang Ligaya

What an exciting Monday! Before I slept last Friday, the Dow was down 150 points. I thought for sure that I was dead wrong about the market as I was more bullish than bearish. Then, when I woke up and found that the Dow was just down by 20 points, I thought, "Tuloy ang ligaya!" 

Today, the Lopezes were able to rise from the dead. I have been ignoring them for the longest time because they have been generally weak, with the exception of LPZ. Among the Lopezes, I am more familiar with FGEN and EDC, which, coincidentally, are the weakest in the group. (Haha!) All I can say for these two is that if they really have found a bottom, tomorrow, they should no longer revisit their lows. Still, keep in mind that these two are still on a downtrend so all you can hope for here is a bounce unless a clear reversal presents itself. 

Today, I sold all my BEL, VLL, and HLCM. I bought DMC, SCC and AGI. Hmm... SCC... 209 sold it down by the close. Kill joy! It already looked ready to make a new all time high! As for AGI, I'm looking at a flag formation with a minor resistance at 6.39. MEG actually has a similar short-term picture. 

EEI Corporation

Maybe you can profit from my mistake. For some reason, I can't seem to catch EEI. No matter how bullish I am on this stock, I always somehow end up being shaken out because I was never granted with the right timing. I can't say that I just wasn't patient because I waited for months. Maybe I just wasn't patient enough. Recently, I sold my EEI at around 3.65 because I just wanted to exit the trade so I can find a fresh start somewhere else. The next day, EEI bounced to 3.77 and today, as high as 3.86.  

First, let me tell you why I decided to sell. Three days ago (Monday), EEI ought to have bottomed out around the 3.65 level as seen through the bullish hammer it made. However, if you'd notice, this hammer had no volume so the next day, when it formed a black candle, I sort of panicked so I sold. Can you just imagine what I felt when it rallied the next day? It's not yet confirmed but if EEI is able to convincingly break above 3.85, then we may see its descending triangle fail and a failed bearish pattern, is a very bullish one. PNB had a similar pattern, which failed. It subsequently rallied to as high as 44.50. My two candidates for a failed descending triangle are: EEI and BEL. By the way, I almost forgot. EEI has a cash dividend coming up. Look at EEI's movement before its previous ex-div date of June 1, 2010.


Greed is Good

Yesterday, I was already so happy to have made a 55 cent gain on URC. Day trade! I bought at 33.10 and sold at 33.65. I was really just after the spike up after its tight consolidation. Seeing that it spiked up after I bought, I sold it near the close. After all, before I entered the trade, I already planned my exit. The setup I was looking for presented itself, so I took it. Today, I couldn't help but laugh at the market's humor as URC closed at the highs at 34.50. Here I was trying not to be greedy but I noticed that every time I try not to, the market just keeps on showing me that even a little greed is good. 

Today, I was able to sell a quarter of my FLI holdings at 1.12 and another quarter on 1.15. Two days ago, I really thought I didn't read FLI correctly. Remember I bought back higher at 1.05 and 1.04 after selling it at 1.01 to 1.03? The next day, it formed a potential bearish dark cloud cover but I didn't get to sell as it closed at the sellers price of 1.03. Good thing it was able to close at 1.08 yesterday and it made a follow through move today. Should it spike another day, I still have two more sell postings above. If my sell orders get hit before FLI corrects, I sure hope it falls back down after so I can buy back. *evil grin*

Just as a side story, FLI is my first love in the stock market. I first bought it when it was still at 0.32. I was shaken out, not because I was bearish but because it was one of my first few trades. This was during March 2009. I was very shaky during my first week of trading. I sold at 0.34 only to watch it "FLI" to 0.42. The next time it consolidated around the 0.40 level, I made sure I bought and I refused to be shaken out. I was able to sell this at around 0.65. I was in and out after this and I was able to ride it the first and second time it attempted to break the 1 level. It seems FLI and I started where we left off one year ago. This time, we are seeing new heights! 


It seems my vacation would have to be postponed for a while because today, I saw prices bounce. If that bounce is real, then we should no longer see prices below today's low. In the short-term, the index is moving sideways to up with support at 3,422 and resistance at 3,463 / 3,485. The PHISIX closed at the highs today at 3,455. 

I got a little overwhelmed today. With the behavior of the market this morning, all I could think of was: What should I buy? I ended up buying back my FLI, more MBT, RCB and ALI. I told you my selling of FLI was an emotional decision as I even caught the low to sell. So, as punishment, I had to buy back higher today.