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    Stocks are bought on expectations, not facts.

Against All Odds

I'm amazed! Because of the forced closings during yesterday's trading plus the Dow down 107 points, prices gapped down at the opening. We were down to as low as 56 points. This weak opening was not sustained though as we were able to rally sharply after. There were still some forced closings today but it was not as obvious as it was yesterday because everything seemed to be going up. The PHISIX was actually able to turn green even before closing. The only effect the forced closings did today was make the PHISIX marginally higher. 

So, what did I do? Apparently, the PHISIX was able to hold onto its gains. I was anticipating a correction but the PHISIX was stronger than I had anticipated so, I decided to buy something. It was obvious that the market did opposite to what I had expected so I had to revise my strategy from wait to buy. Yesterday, my cash position was 60% of my total portfolio. Today, I went on a buying spree. I bought PX, SCC, AP, GMAP, and RLT. 

One of our traders was joking around this morning. He said, "If everyone bought today, who will be left to buy tomorrow?" Hahaha! :P 

Today's high fliers were LND and PNB. Galing! ;) 

4 comments:

Anonymous said...

It will be me!!!! ha ha ha ...Congrats on your holdings ...the market showed it's resilience...


Chambeng

Christina Hunt said...

Chambeng!! Galing ng market, even though fake ung 97points. 62 lang dapat. Haha! Did you buy anything?! :P

Anonymous said...

ha ha I did, JGS and RFM ...charts please Christina.
....our fav GMAP exhibited a nasty spike yesterday ... mukhang marami naipit sa ocho ha...

Christina Hunt said...

Talaga? Apir tayo. I bought RFM too. Not yet done with my buying though.. :P Sige, I'll post the charts of RFM and JGS within the weekend. ;)

Actually, marami nga naipit sa 8. Anyway, okay lang un. Let them sell now so that GMAP will be lighter on the way up. I'm expecting a correction on GMAP in the next couple of days. And then, I hope, we'd be saying hello to 9 pesos. Hihihi.

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