There are days when I consider the pre-close period just a period of idle time. Every so often though, the pre-close phase regales the attentive viewer a good tale about the classic conflict between the bulls and the bears. In those moments that count, I enjoy watching these two animals fight to determine the day's closing price.
Today was one of such moments.
The market fell 25 points. You can say that the bears dominated. We were up around 5 points at the start but around 10 am, the market just fell and consolidated at the lows for the rest of the day. Having fell so much, the only window the bulls had to strike was during the pre-close period where the bulls struggled to raise closing prices. I was watching two issues then. EDC last traded (11:56 am) at 6.63 but a 7M buying at 7.30 was able to close it at 6.69. DMC last traded at 47. It had a 241K selling to close it at 46.90 and a mean 544K sell posting at 47 and 150K at 47.05. The bulls answered with an 870K buying posting at 47. Booyah!
Experimentation LC failed today. The breakout yesterday was counteracted by the very bearish engulfing pattern it did today. I got out of that one alive... So, next! I experimented with ALCO this time. But because of the very small postings for this one, exposing 5% of the total portfolio would be suicide! I bought less than 1% from the total portfolio. =))
6 comments:
Nice read. I was wondering about the price jump this morning myself. I didn't realize how violent these closes can be. Let's just hope we get follow through buying from your mystery aggressive bulls tomorrow or we can call this April run (at least for now) over... Who knows, if this is indeed the top, with luck, basuras will be in the vogue again. ;)
Thanks! :) Re. the forced closings, I remember more radical forced closings before, thanks to Daiwa. :)) Those kinds are the more interesting ones. Haha! We're expecting a correction for a few days. I think I'll consider this an opportunity to buy... But if it is the end, I'm welcoming the basuras with open arms. :)) I think I'll like that much better.
Hi Christina,
I am just curios, what software are you using or which broker are you using (refering to your 1st screenshot)?
TIA! :D
Nice post, I was looking at these two issues at the close as well. I like watching the close on my positions especially when I didn't initiate any new transactions haha mas maganda yung action sa DMC. labanan talaga eh :P abangan bukas!
dejavu? pero kakamiss rin yung ginagawa ni j dati no? yung 1 board lot na mark the close nya *grin*. those were the days.
Anon, that's the PAM of PSE. It's the software provided by PSE to brokerage houses. It replaced the Maktrade system last year. :)
Pau!! Bears still have the upper hand in DMC today.. But I think they're gonna get exhausted soon! ...I hope! :))
Spy, those were the days talaga! :)) 8-> Waaait, even better... LIHC! I remember 5 mins before the close or something, napataas nila significantly! Wow. :)) Forced closing at its finest! :))
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