So, who's responsible for the piggery that happened at the closing this time? The market ought to have closed at the highs, gaining 22 points, but for some reason, we closed only 3 points higher. Check this out:
Stock - Price at 11:56am - Closing Price
ALI - 15.04 - 14.80
EDC - 5.83 - 5.72
AC - 344 - 337.2
BDO - 49.10 - 48.90
MER - 232 - 230
Those are what I found so far. Individually, they may not be much but if you put them all together, yeah, that should explain how our market could have dropped 19 points in a few minutes. By the way, I noticed, they all had the same seller: 115. Is SB Equities gunning to be the next DBP Daiwa who is infamous for its forced closings? Hahaha!
Anyway, today was rather exciting. The Dow was down 88 points last Friday so I made sure I came to the office early so I can watch my stocks breakdown, if ever. Ignorance is not bliss, afterall. :P I'm heavy on LR, light on NIKL and feather-ish on DMC and AEV. I sold DMC and AEV today, and bought AP and BDO. I had a daytrading fail on LR. Well, it wasn't really intended to be daytraded but I averaged up at 7.67, 7.68 and 7.80. With this, LR now has a 50% allocation in my portfolio. That got me a bit nervous (chicken) so I sold the 20% I bought today at the close. I think I lost with transaction costs. Thinking rationally now, I think I ought to have held on to it. Anyway, I'll see again tomorrow! Maybe LR will continue to surprise. :P
1 comments:
LR does look interesting. Maybe it's a good range-trade, unless there's a breakout.
Someone or some group with a lot of shares doesn't believe in this rally I guess. They're letting it run only to dump at the close.
I wonder what they'll do on a down day though. Would they continue with closing time dumping?
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