Welcome to Basura Wonderland

(Late post for September 16, 2010)

The wonderland actually opened yesterday with SPH as the opening act. Today, we were greeted with a broader based basura rally. The market just opened and I already saw the likes of PAX, IP, EG, running across the tape. Some opened higher but not all gains were sustained. NI reached a high of 3.45 but closed at 3.37; LND high of 0.87, closed at 0.82; SPH high of 3.10, closed at 2.75. Yikes! Biggest gainers were ELI, GEO, SUN and POPI (in no particular order). 

There were actually some spectacular moves on non-basura stocks too: AP was able to rebound from its low of 21.35; FPH broke above its previous high of 67.7 to close the day at 59; UBP accelerated to the upside, gaining a 2.50 peso gain; MER extended its uptrend to close at 212; and oh, SM spiked to 550! 

Hmm... I'm kind of in a dilemma. I don't really like playing with basura stocks but at the same time, I don't feel comfortable in buying my favorite issues at current levels. The last time I played basura issues, I was just about breakeven for several months. Hmmm... Why is it that I can tsupita the likes of MBT, DMC, and AP but I can't play CYBR, LND, APC properly?