Hohoho!

In my first year of trading (last year), I didn't experience a Christmas rally. So, come Christmas week, I was expecting a rather sleepy Christmas and even a sleepier last week of the year. (Also due to the fact that prices have been going up for several months. So, I hardly think fund managers or what not need to raise prices to make their portfolios look good.) To my surprise, the index was up the whole week last week. Oh, Santa does exist!! I am now a believer! Hohoho!

Because Santa showed some muscle last week, I will give the last week of the year the benefit of the doubt. Given the excitement we had the past couple of days, I think it's possible for some of the plays to continue this week. I got my eye on our recent high fliers namely, PCOR, PNX, and BEL. They recently corrected back down. I'll give them a few days to bottom out then on the bounce, it's hello again, old friends. :) 

I have a confession to make. I said I was on a vacation already right? Well, I didn't completely isolate myself from trading last week. Just partially. Hihihi! Remember I said I was bullish on CMT and PX and I was willing to hold on to my position until next year? I also said that if they did breakout I was willing to buy more. And buy more I did on PX (I boxed the part where I averaged up). At the end of December 22's trading day, my client asked me if I would have bought PX that day. I told him I bought and he was like, "Akala ko ba you're on vacation?!" Hahaha!! Oops! Couldn't help it!! Cheers, Melvin! :)) 

I also bought something else. Yes, this is me position-ing for the new year. I'm not trading as actively as I used to so I decided to position. I bought DMC. I like the failed head and shoulder formation, then the inverse head and shoulder that formed soon after. My only concern now is volume. Since it's Christmas (and not everyone is trading), I'll give it the benefit of the doubt. When I saw the chart of SCC though, I couldn't help but feel like I bought the wrong stock. DMC has a good chart, yes, but SCC is much stronger as it didn't correct as much as DMC. That is the kind of chart that I like because tendency is, it will move faster once it breaks its previous all time high. Anyway, I started with DMC already and I'm willing to stick with it. Yeees, conviction! Is this the new me?? Hohoho!