On Taking Sides...

I was rather surprised with the performance of the market today. Since the market was just forced closed last Thursday, I was expecting SMPH, GLO, ALI, etc. to return to their normal prices so, we would gap down at the open. I guess the positive close of the Dow last week plus Dow futures up around 70 points the whole morning got the bulls fired up. I wonder what will happen if Dow closes on the red, instead, tonight? Hihihi! But then again, you can always argue that we've decoupled! :-P Anyway, our value turnover today was a spectacular 8.01B. Wow! 

Did the infamous Daiwa force close any issue today? I actually didn't notice because the whole market was going up.  But I think they didn't today as I didn't notice any "jump". Maybe they supported it but they didn't push it up by the close. Maybe they've satisfied all their buying before the close already? Haha!  Foreign funds continue to be net buyers today by about 2B.

When the market opened, I was seriously and utterly confused. Some of my positions went up and I wasn't entirely sure what I should do: stick to my target or sell while they're still going up? Thing is, I didn't want to sell because when I sell, I don't know where to shift to. Everything went up already. Finally, I came up with a comprise. I sold a fraction of my shares just to secure profits. This goes for AP and SCC. Then there were others that I sold, like PAX and PIP, simply because I was uncomfortable with them. I had a eureka moment soon after. I bought AT and TEL... near their intraday highs. Hahaha! I bought them anyway because I like their upside. I think I'll be selling all my AP and SCC tomorrow... 

FLI, MEG, and PSE were the highlight of the day. I just closed my eyes. I don't have those issues. There were several other stocks that moved fantastically today. I couldn't help but feel a little bit down because none of my stocks went berserk today. All in due time... ;) 

Anyway, I overheard a conversation today. Client X is talking with his Broker Y. Apparently, Client X wants to buy a certain issue but that issue has actually gone up quite significantly during the past few days. Being the prophet of doom (just a little nickname we have for him), Broker Y told his client why he didn't want to buy today. He gave reasons such as the market is overheated and it may correct anytime soon. Another Broker Z, who was just beside Broker Y, couldn't help but interrupt the conversation to say something on the the contrary. "Client X, short-term traders are all looking at a peak, so they are all looking to take profits. That's our cue to buy!" I believe what she's trying to say is that fear fuels the bull market. The more people are afraid, the earlier they take profits but in the end, buy back higher, thus fueling the uptrend. So, who will you side with? :-P