MEG

MEG freaky inverse head and shoulders. 2.30 working as resistance of 10-month downtrend line.



zooming out.. 2.48-2.50 is working as resistance of a double bottom.

Fly high FLI.

Properties moving and while browsing charts, spotted this one. Perfect time to break its inverse head and shoulders pattern in the daily chart.



If one is to trade patterns, a sample trading plan is to risk .10 cents. That is already about 3x multiple of its 20 day moving ATR at .03.

Buy: 1.28-1.31
Stop: 1.18
Target: 1.6-1.62

Risk .10-.12 for a potential gain of .30-.32 cents. That's 1:3 risk to reward ratio.

Next resistance is at 1.35. Support is at 1.20.

Zooming out is the weekly chart. It looks like a 4yr cup and handle forming. Long term target could be as high as 2.8. That is still a double bagger at current levels.



:)

Agreed is Greed with an A

This one's a real monster right here. I've been hearing people compare PWR's outburst to BW. Fantastic, indeed! ...And just when everyone thought it can push higher for another day, its week long monstrosity ends today. You know what today's high of 5.66 is called? Greed. This morning, I already had a sinking suspicion PWR will find a peak today. You know why? I used yet another human indicator. He said it with such certainty, that PWR can push for another day. That was it! I heard and felt the greed. But really, gap up to 5.50?? That's really crazy! I'm sure the shorts had some real fun today. ZHI, VITA and BHI also felt the force of gravity today. I won't paste their respective charts anymore. They all look the same with some very mean looking black candles. :P

To the ceiling stocks and stockholders, I dedicate this song for you:

"Well, it was just a dream,

just a moment ago.

I was up so high,

looking down at the sky. 

Don't let me fall. 

I was shooting for stars

on a Saturday night.

They say what goes up 

must come down,

but don't let me fall." 

Anyway, let's go general. The PHISIX only gained 9 points today. If you look at the daily chart, you'll see that the index is losing momentum as evidenced by declining volatility. I expect the index to move sideways or correct a little from here. Then hopefully, we can continue our uptrend.

Honestly, I haven't been paying that much attention to the PHISIX. Hindi naman kasama sa index stocks ko eh! =)) Well, some lang. Instead, I try to spot the shift in plays. One play ended today and I think another began. It's the play that started it all.. LOLO is back! And it tagged AT and PX along with it.

Let's focus on LC. I like its chart best. Check it:

Do you see what I see? LC now looks like it's accelerating to the upside. I can't adjust the chart but I did some manual computation and I arrived at a 1.3 target for LC. Up, up here we go! Good luck, traders!

Solid!

Actually, may mas solid pa pero SGI lang ung may tawag na Solid... Hahaha! Joke time na post. =)) 

New High Plays!!

Industrials
FGEN

MWC

URC



Service - ICT

New High Plays!

Properties

GERI

ELI

Financials
MBT

SECB

Holding - DMC

.. excluding the mining plays.

Mining Play

What's up?? The "A"s were surprisingly stronger than the "B"s today. Could LC be accelerating to the upside already and could MA finally breakout from its two-month range? Mining stocks remain to be in play. PX, SCC and AT look poised to head higher. Let's see... 

Momentum, Volume, Price

Today's superstars were definitely PWR and LC. I don't know what's wrong with meeeeee, hindi ako makaporma kanina sa PWR and LC. I saw several buying opportunities in PWR but I felt a bit uncomfortable since it went up significantly already. I boxed the buying windows in PWR that I saw but didn't take. :( Who would have thought PWR would turn out to be such a monster!

LC, on the other hand, barely corrected intraday. Well, considering it only started moving around 11:15am, I guess that makes sense. The pushers couldn't afford to waste any time. Check this: 

GERI tried to be on the limelight but was outshone by PWR and LC. Ang hina kasi sa follow through, GERI. Nakaporma na eh! Maybe tomorrow! Last level of support is at current levels. 

You know what I'm doing right now? I'm shaking myself!! Hahaha! Wake up! Wake up! I need to be in tip top shape tomorrow. I've been waiting for this kind of market and it's finally here!! Act faster! Tsupita mode ON! 

Anyway, I'm fascinated with trying to figure out the right timing in the lightweight basuras. See, I have a lightweight portfolio too, where I tsupita stocks with low volume. Yesterday, I mentioned plays like the one in BC. :P I spotted another one but, I dunno, there's something about today.. hindi ko nasakyan ulit. Waaaah! I'm talking about TDY. =)) Exotic stocks!! Near the open, I was eyeing at around 4.82 this but I got distracted by PWR. The next time I drew my attention back to TDY, it was already above 5. 

I have a theory on how to spot which lightweight basura stock will move next: Volume plus breakout-ish kind of move in price. Volume is important because this raises your probability that the stock will not continue to move sideways because someone is possibly accumulating. To get the timing right, though, you need to pay attention to price so you won't be shaken out just like what happened to me in RFM. To illustrate, here's the chart of TDY. This caught my attention as I was reviewing charts last night.

Right now, I see a good setup in MAC and...EVER! :-ss We have this office joke (half meant) that when EVER moves, that's the end. It's like the ultimate basura so when it moves, that's it for the whole market. :)) Anyway, just speculating... =)) 

Benguet Corporation (BC)

Yes, I'm back to basura. HAHAHA! Being a tsupitera is a hard habit to break. Once bitten by the tsupitero bug, there's no going back. Anyway, BC is just a cheap thrill. Ever since I bottom picked RFM, I can't shake out the feeling that basura plays are back! In fact, when I do my post market notes, my watchlist is dominated by basura stocks... Hmmm... 

Anyway, my story for RFM is, I bought at 1.14 because I thought there was accumulation going on. But I was suddenly shaken out because of the fear that it can consolidate forever!! So, I sold at cost then after a few days, BOOM! Bye bye! Hello, 1.28. Naman... But BC is another story. I bought last Friday at 20.30. Teehee! Look at the chart. I don't know if you see what I saw last Friday but to me, that was a breakout and today it had momentum and I sold! BC is prone to one day spikes... If it still does go up tomorrow, it's okay. Take your profits and run. I was lucky enough that BC behaved according to expectations. What fun! :) More, please! :)