Today, I felt the panic because I myself experienced it. I wasn’t in a panic mode the past three days but for some reason, I was today. That must be the effect of the broad based decline. I saw my profits turn into stone and even have that stone thrown at me...so to speak. And I wasn’t well prepared for it. After reflecting quite a bit though, I realized that if I’m panicking, so are others. It shows in the index, right, as the PHISIX fell as much as 94 points! I seriously felt devastated that I even thought of the Dante’s supposed inscription at the entrance of Hell that reads “Abandon all hope all ye who enter here.” Now that’s what I call an acceleration! Then I tried to be rational. Think! Accelerations are usually exhaustion levels. This made me surmise that the market is near the bottom. Having declined too steeply though, I doubt prices will be able to shoot up from here. I think we will range trade for now.
Tsupita...ON!
Tsupita...ON!
For your reference, here's the chart of the PHISIX.
9 comments:
WTD WTD WTD 0.o
O_o BUY!! :))
yeah, buy! :)) i might get 100% invested tomorrow if there's another dip.. eheheh..
Just another bloody day...hopefully tomorrow will be the confirmation where we are really going
No trailing stops?
I'm looking at a bounce next week. You can't see it in the index yet but several issues look a bit dried up like AGI. I haven't reviewed the charts of everything but I'm definitely on the look out for something like AGI... Ah, and RFM. Check it out. :)
You might want to look at your PSEi charts again, particularly 1997, 1999, 2007...If you haven't experienced a bear market yet, good luck.
I'll be needing that luck then, Anon. :P The worst I've experienced is a sideways market. I've got a lot to learn...
In that case, you will be in for some serious schooling should this correction turn out to be a longer term reversal :(
Just watch the charts and dig for the underlying reasons on the market's movements.
Review your trading style/philosophy and adjust accordingly :)
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