I think I became too accustomed to prices going higher and higher that I'm very uncomfortable now that prices are declining. The short-term trader in me is scared of corrections (because the objective is to just make some money and run) while the position trader in me acknowledges that corrections are part of the overall uptrend. Just from there, you can tell that both kinds of traders have a different levels of greed. Sometimes, this results in a conflict that I am still trying to resolve. When prices start to decline, the tsupitera in me becomes worried. And prices have been falling for three straight trading days. Oh gosh. It's very difficult watching paper profits shrink. I even have one that became a loss. I realized that loss in PNB because I decided to buy back AP. Haha! It wasn't big anyway and it was offset by a small (decreased) gain in MBT.
Let's assess the situation. The index went down 29 points today. Yesterday, it was 53 points; last Friday, 45 points. MACD crossed down again after crossing up a few days ago. That's not good. Stochastic Oscillator, on the other hand, is still not turning but is approaching oversold levels. Based on the daily variances, the decline accelerated when the index fell 53 points. In the next couple of days, I expect prices to consolidate within a narrow range and dry up before reversing or continuing its trend. This is around 4250 to 4300. If a sharp price move should occur instead, take that as the confirmation or contradiction of your worst nightmare. >:)
BTW, compare and contrast the index with AT. I think they look very similar.
7 comments:
Both AT and PSEi both started their recent down moves with Bearish Engulfing Patterns near your trend lines.
Still all-in and holding all my stocks. Will start selling of course if this keeps up!
So you're one of those "asking for a correction and yet you run away"! :P
You should be dancing, daming bargains oh hehe
Oops, mali pala ung values na linagay ko. I wrote 2,550 and 2,300 for some reason. I was in a hurry when I was writing this so I wasn't able to double check. Wahaha! Anyway, changed it already.
Abi, galing! I get itchy to sell in times like these. I still have most of my positions though. At least those that I've committed to a medium term hold.
Sam! Hahaha! Dami nga bargains. When I decided to go a little bit more "long" term, they correct big time!! So I didn't get to sell at a higher price as I ordinarily would have, had I been on tsupita mode. Hahah! See.. I didn't runaway! Aaaah! I can do this! :))
let's do this guys. AP all the way!
nako.. :(
huhuhu :`(
It's alright guys. We are all lemmings swimming in this market.
http://www.youtube.com/watch?v=vF_E10e4Bzo
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