Diamond in the Rough

Because of the new fluctuation rule, any advance or decline seem more dramatic since the smaller increments make prices more volatile. In the old system, once a stock crosses 10 pesos, instead of 10 cents (fluctuation rule for 5 to 9.9 price range), it will move by 25 cents. In the new system, it will move by 1 cent either way. So, in a day, what used to be a boring 1 fluct move is now an exciting 25 fluct leap. What am I getting at? If you look at the general market, we are merely moving sideways but if you check your holdings and watch them in the ticker, you will feel your heart flutter every time your stock breaks each fluctuation. Just an observation based on personal experience. Haha!

I didn't go to the office today because it was raining when I left for work. I stood outside the gate for a while then decided I didn't want wet shoes and pants. I retreated, waited for 9 am and watched the market at home. Ang galing ng MEG! My sister will be very pleased with me when she finds out I'm praising her stock. Since nothing much is happening with FPH, I think she switched loyalties for the time being. While the whole market was going down, MEG was going up. Sure, it reacted  and went as low as 2.44 but it still closed at the high of 2.59. Now, that's what I call strength! Aside from a range breakout, it also broke out from a flag. I have a short-term target of 2.75 to 2.80. I'm looking to buy the dips but as always, open to the possibility of a bull trap. Ideally, it should no longer fall below 2.55. But suppose it does, 2.44 should be the next support. If that still doesn't hold, I will assume it will continue its range. For now, it looks like it wants to trend up. Let's go bulls! Ay, wait, I don't have MEG yet... Wait for me! ;)