5%

Last night, I wrote this down, in case I had a last minute change of heart: Do NOT hesitate to SELL. Buy back on dips.

I sold today. No buying. I still have some positions, so in the event that the market continues further, I won't be left behind. But I also didn't want to regret not having sold anything today when the market was up to as high as 5%. I was given an exit, I didn't want to say tomorrow that I didn't take it. Whether it's wrong or right, I don't really know. But I told myself I would sell, that was plan, and I followed through. I'm satisfied. I sold the MEG I bought last week at 1.24 at 1.32. I cut loss on URC at 24.75. I sold all my FLI at 0.98 and .099, SMDC at 6.3, EDC at 5.5. I had one fall out though. I canceled my selling of EEI at 3.3. It could have been done. But no! I canceled it. EEI represents my confusion. I'm bullish in the medium term but the short-term is giving me a sell on rally kind of message. 

I saved another image of my screen this morning but I left the image file in my desktop! Sayang! It was so fantastic! +150 plus then my quote page was all green for a change! :) Haha! 

Bull Flag Naman!

Please? :)

Have you seen Dow Futures?

I don't mean to sound uber excited but.... 

This is the first time I've seen such a fantastic UP in Dow Futures. Because of this, it is now my wall paper. After the consecutive triple digit downs, it's about time we see something like this. Hope Dow is able to sustain this until tonights trading! 

The Great Rebound

When I woke up, the first thing my sister told me was that Dow went down 347 points. STRESS! I decided to sleep some more. As a consequence, I arrived late for work. On my way though, I was already thinking about what I would write here. I thought of one liners like "Just when you thought it couldn't get any worse, it does!". (Haha!)  

I was in the MRT, asking for market updates. A friend of mine said we were down 91 points. EDC was doing 4.95 and FLI 0.91. When I arrived in the office around 10 am, the market seemed to be rebounding. From -91, it became -78, -63 and so on, until the market was only down 13 points. 

RALLY!

I was able to day trade some issues. Since I was late, I wasn't really able to get any by their lows so I was content to have sold AEV and MEG with one fluct gain. I lost in EDC though. Bought at the high of 5.3. Sold at 5.2. I was also able to buy AC at 315 then sold at 322.5 and 325. Ya-ha! AC closed at 320. Marunong din pala ako magday trade! Haha! I'm not usually content with one fluct gains but given our market's condition, I'd take whatever I can. 

I think it was a good thing I arrived in the office late, because for sure, I would have panicked at the open and regretted having sold at the lows. 

By the way, I'll be out starting next Wednesday. I usually go to the Province during May and this year is no exception. So, I won't be updating the Stock Picks Section this week until the third week of May. 

Sorta, Kinda, Like

Whatever possessed I.B. Gimenez today? Sell down here. Sell down there! I saw 180 selling so many issues aggressively the whole day; FGEN, EDC, RLC, SMDC to name a few. I heard that was possibly a fund. 

I finally sold all my DMC today. Sayang ung 3 pesos. Obviously, I wasn't able to sell my remaining shares at 17.75. Sold today at 14.75. Good thing I didn't hesitate or it could have been 14.25 for me. I was able to buy a few months ago at 12.75. Sold half of that at 16.25 a few weeks ago. 

I cut loss on my ICT too. It bounced to as high as 27 but I was only able to sell at 26.5 with a two peso loss. I can't say "Argh!" enough. I better stick to the two fluct rule. That's a cut loss strategy that indicates an exit 2 flucts below cost. It's a good cut loss rule on short-term trades. Plan "deviator" kasi! :P 

Mmm.. the market kind of bounced today. We saw selected stocks bounce off yesterday's low like FLI, FPH, MBT, BPI, SECB but there were also those that just started to breakdown today like FGEN, SMDC and URC. 

Backdrop for Disaster

It's funny how the current theme/plot of the TV series that I am following is the Apocalypse, then, I see the stock market make a nose dive. It's Supernatural, by the way. Not the market. The TV series. :)

Roadkill

  

Beautiful or disastrous?

Bear Flag

Sometimes, out of curiosity and pure anxiety (Just kidding with the anxiety part. :-P ), I watch how the Dow develops. [This is made possible through http://www.freestockcharts.com] Gosh, Dow is down 221 points as of 10:46pm... At around 10pm, I didn't think this was a bear flag... More like I was hoping it wouldn't be a bear flag. But lo and behold, it is! If you base it on that, downside target or around -300. Too big though. Baka hanggang 200 points lang. Time to rally, Dow! :P 

BTW, ang ganda ng layout sa freestockcharts. Sana ganito nalang ang layout ng PAM! Hahaha!!!  

Huh?!

Was the Dow really up 143 points?! Could have fooled me.. :-P Funny how the PSEi doesn't want to drop when the Dow goes down big time. Then, when Dow goes up instead, PSEi still doesn't want to go up! I think a down Dow would be better for us because at least in this scenario, we rally sometime. Haha! Then again, as they say, be careful what you wish for! Just last Friday, I was talking to some officemates.

I: Up futures! 11 points.
J: No!! Let the Dow go down tonight then on Monday, rebound for Tuesday's trading.

Shux! Wish come true.

Highlight of the Day: EDC and ORE

I reiterate my buy recommendation on EDC. Buy the dips perhaps.
Write-up on EDC may be found here: http://christinaahunt.blogspot.com/2010/04/fdafdafdsa.html

Stock Picks

Stock Picks Section updated! Stock picks for the week: PIP, MPI, PCOR.

As for PCOR, the presence of the tender offer complicates it a bit. Maybe this one will consolidate some more until the tender offer is done. What do you think? I was only reminded of the tender a few minutes before I made the write-up. I just decided to put it there since the chart looks good anyway. Haha! :-P

Dow is up 84 as of 11:35pm. Hope Dow is able to sustain its gains and that the PSEi would soon follow. My positions depend on it! (LOL)