The play has definitely shifted to mining. Sure, there were some non-mining issues that performed spectacularly today, like PNB, RCB, and SMDC but the sectors that had the most gainers was the mining sector. In fact, all the other sectoral indices were in the red while the Mining and Oil index formed a very bullish hammer. I don't know if I have a selective vision but from the way I saw it this morning, PX lead the rally. After it rallied from a low of 14.48, I suddenly noticed all the other issues rally too.
PX was my frustration for the day. I don't know why I hesitated to buy it up. I was watching it the whole morning, waiting for that bounce but when it finally did, I didn't even notice it. I rely too much on the charts provided by Citiseconline. :( There has been something wrong with their intraday data the past few days so I didn't see PX bounce. T_T
What I did get to buy was AT. They usually go hand in hand so when PX bounced, I placed my money in AT. It bounced too and even closed the day with a bullish hammer. AT came from a low of 14.30 and closed at 15.04, while PX low was at 14.48 and closed at 15.98. So, on AT vs. PX, the definite winner for the day is PX.
The most spectacular issue today was LC. What a ride! Opened at 0.38, threatened to fill the gap by reaching a low of .35 then suddenly rallied to as high as 0.425 to close the day at 0.42. Woaaaah! Congrats to all those who have LC!
LOLO! I bought back my MA. Good luck to me!
I think my mistake is riding the "follower" and not the "leader". The song goes, "Following the leader, the leader..." right? Not "Following the follower, the follower..." Anyway, my mentor on short-term trading taught me to go with the stronger stock and not the one that is affected by its strength. But what can I do? I couldn't make my move on the two leaders, PX and LC so I went with AT and MA. My only consolation is the possibility that AT will pick up the pace when PX slows down. That's what happened before. AT was the leader then but was overtaken by PX. Now PX is the leader. Umm.. GO AT!! Haha! As for LC and MA, I really don't know. I'll just cheer for my MA and hope it fulfills its potential. Then again, I'm happy even if it just breaks 0.25 for now. :)
2 comments:
Check ACR too. It nearly doubled in 30 trading days! Mining is really leading the rally!
Hahaha! ACR.... Yeah, I noticed it before.. But I have some very bad memories on ACR.. They're still fresh so, it's a no touch for me yet but I'm very tempted! :P Hahaha! How about you, do you have ACR? If you do, jackpot! :)
BTW, I forgot when but it should be a week or two ago that ACR was reclassified to the energy sector. :)
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