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.
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