Today was another long and discouraging day. Two days ago, I thought we were ready to bounce. I bought AGI and MPI then. Apparently, there's a global sell-off and we weren't spared from it. Major US indices fell more than 1.5% last night. Shanghai Composite and Hang Seng Index fell 2% today. With today's 70 point decline, The PHISIX once again looks vulnerable. In fact, if we break 4,050, it would seem as if that the consolidation around 4,050 to 4,150 is the rest before gaining downward momentum. In fact, this very flat consolidation can be a very strong continuation pattern should a breakdown occur.
But really, wala na ba talagang bounce?! Boring! Hahaha!
I wonder if now is the time of the basuras. LND and APC has started to move. Can they finally reach the elusive 1 peso? I was eying LND last Monday but I got distracted with AGI! :P Congrats, Amorito Girl! =D>
9 comments:
Steve Nison's book says the string of black candles is a very rare bearish reversal pattern. The Japanese call it the "Six pieces of Turd."
Just kidding!
But it does seem like nag-LBM talaga ang market.
Hahaha!! :P Six pieces of Turd.. Pwede!! :))
Anyway, not naman a reversal, Abi...or should I say, not yet.. Hahaha! Just a short-term continuation of the downtrend then we'll see from there. Check this out: http://img832.imageshack.us/img832/7808/phisixexp.jpg
I was expecting a bounce like the one I encircled. But, if we break 4,050, I think we might do the something like the one in the square. The market was able to rally after this decline but it first took a dive. :|
You forgot the support at 3896!
PSEI, bahala ka bumagsak! I'll make new highs =p
-AP
great job on AGI, you, amorito, everyone!
I like AP. SMC is another stock pushing new highs. Both interesting.
Sam, why 3896? :P
Harley, my AEV agrees with you! Syempre, correlated ang AP and AEV. :) BTW, wala na akong AGI. I sold yesterday! Hahahah!!
Abi, I agree with you there. I even bought SMC and the mother of AP today. :D
yung previous all time high! oh dapat ung close ang bilangin?
Ahhh.. Yeah, ung dating all time high... Yeah, there should be support there. But notice the the 2007 high. It disregarded the 1997 high. In my analysis of all time high prices, the index should no longer go near its previous all time high or it will have some trouble going back up. So, for the sake of the bull market, I sure hope it doesn't go near those levels anymore! :S
/xd
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