Today was funny! Around 10:30am, I was already convinced that the market was headed nowhere. I even wrote somewhere, "Zzz..." After a minute or so, the stocks I hesitated to buy earlier was suddenly overwhelmed by some buying interest. I thought, "Heeeeey! THAT'S MINE!!" Just when I thought the market was gonna be a snooze, alarm bells suddenly rang and woke me up. I stand corrected. Today was actually pretty interesting! I bought RCB at 28.55 and 28.65. I bought more near closing at 29.05 and 29.1. Another issue that caught my interest was EDC. The intraday chart was clear. It was poised to breakout above 5.92. Did I listen? Noooo. I hesitated again. I ended up buying at 5.97 and 6.
Why did I hesitate? Well, I was looking at intraday charts of other issues and I can't help but notice support levels breaking. Si Amorito din!! Hahahaha! She told me to wait for the breakout. HAHAHA!! Just kidding! Her birthday is coming up, by the way. This Sunday, January 9. :)
Anyway, enough with the side kwento, I had dinner with some trader and analyst friends a few days ago. We arrived at the topic of stock picks. The two analysts (fundamentalists) were in agreement with RCB. Cheap valuations, I think? Even before this, I already expressed my interest on RCB with Harley (who doesn't like banks). :)) So, with the fundamentals and technicals in agreement, RCB has been a priority ever since. Another stock they were in agreement with was FLI. I was watching it today and oooh, there was some aggressive buying near the close. What's up with that? Whatever, it's a breakout! I bought at 1.38. I was so frustrated nga eh. The buying was so aggressive I couldn't get at a lower price! Ang bilis eh!
Oh, I made a booboo with CYBR. I bought at 0.79, sold at 0.78, bought back at 0.81 and 0.82. Exciting!! I sold because I thought I wanted LND instead. In the end, I bought both. I particularly like LND because of the bullish engulfing pattern it made today but I'm a bit suspicious about it because it had no volume. CYBR, on the other hand, looks like there was a sudden change in sentiment from bearish to bullish. Let's see if it can eradicate its previous high.
6 comments:
hi christina, i read your post on cmt. i have that too. i also saw the bad tidings on the chart of cmt... but the down move was not accompanied by large volume?... could it be a shakeout on the weak hands???
I don't think you need volume when a stock is going down... I just feel like there is no buying support.. It may continue to move sideways for an extended period and with other stocks trending up, I think money is better off placed elsewhere. :P Just my opinion.. I'm also a bit impatient na din. Hahaha!
i don't like the financial sector in general.. i think it's a range-bound market. :p I need the trending sector yung all time high! :))
But price is telling me that a sharp price move is coming soon. I've seen it before. I'm willing to bet on it again. Hahaha! :P :P Jackpot stocks ka naman eh! Sorry na.. Sa pagong na ako.. Oo na. Hahaha!!
i'm always wrong naman :p
pagong ba? eh ako na lang may PX sa atin :) yun ang pagong! hahaha
that reminds me of gsmi last year...slow descent din ata...low volume...maybe you are right.:)
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