Today's session is relatively boring even though the market still ended up in green territory as I was expecting, closing up by 19 points.
Most of the stocks I am looking at are starting to weaken. AGI and MPI are just few centavos away from my entry points. MEG and LPZ are just starting to go down while RFM has still room to move up, possibly one more upswing before correcting.
What's worrying me with RFM is the volume traded during its recent climbs are starting to decline. Upswing range is also growing tighter which is bothering me. However, they have approved a regular cash dividend policy allotting 30% of their recurring net income looks pretty attractive though so I am rather unsure whether to take anymore positions here. Technical vs fundamentals, what to do?
I am partly frustrated as I didn't get to dispose my small position in FLI as my phone died when I tried to call my broker. When I got through, their line was busy. It is definitely a sell today. Now I am forced to wait for the confirmation. My position still stands 2.43% higher from break-even levels so I could probably still sell it at 1.26 tomorrow.
The overall market is now extremely overbought so there is going to be a technical correction in the immediate future, probably by mid week. 3525 is a possible support.
Still standing at 13% gain out of the 25% target.
Hoping for the greater good to happen tomorrow!
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