AGI: Smart money seems they are still in. However, the uptrend got weaker during the sell down this week. Gap down target of 6.35 was exceeded this week, closing at 6.33. Next possible support at 6.15 and resistance at 6.95. Might consolidate for a while. Uptrend is still intact.
BDO: Smart money seems to be flowing back in again. However, price movement still seems rather slow for now. Uptrend is now starting to get stronger. I'll be putting special attention here this week.
EDC: Seems to be holding at 4.60. Buy if it continues to hold at 4.60 and if it bounces off strongly from that level. Short term target is 5.05. Wait for entry confirmation. Smart money is also following price movement however, trend strength got relatively weaker.
MBT: Smart money seems to be following price movement. Trend strength got relatively weaker from the previous week. Possible support at 63.50. Wait for entry confirmation.
PX: Smart money just started flowing back in. Immediate resistance at 10.50 was also taken out this week after making a gap from the previous session.
Saturday, August 28, 2010
Personal Disclosure
Just when you thought that the market will end up in green, the market still closed in red territory in Friday's session with - 36.91 points . The sell down from Tuesday proves the market this week is impossible to read. Hopefully, the market becomes more predictable by next week.
Just when I thought that the smoke has cleared, FLI still met strong selling pressure in Friday's session. However, it held right at its current support at 1.15 and bounced right off the bat. The only thing that would change its current trend is if it is sold down to 1.08 levels by Tuesday next week and I'll be ready to cut loss if that happens. My position in FLI closed 0.8% lower this week. 6-trading day in portfolio.
I am now confident and comfortable to what MPI did in Friday's session even though my position here closed 0.9% lower this week. This is probably the best time to get into position instead of rushing in last Wednesday. 3-trading day in portfolio.
MEG strongly held at its support at 1.88. It is probably the best price to get into position. However, it needs to close higher than 1.98 on Tuesday's session to confirm the uptrend. 1-trading day in comparison with DMC.
Surprisingly DMC held at its current levels leaving me with a measly 0.02% gain for the week! DMC needs to close above 21.60 to sustain its uptrend. 1-trading day in portfolio. Previous post should be 21.50 that left me with 1% gain.
I might look into other stocks that could be posing more possible upside in the shorter time frame i.e., 5 trading days.
It is rather hard to predict the market movement for next week as the information I have at hand seems incorrect. However, my data on DJIA seems alright so I am going to write my take on it. DJIA is more likely to go up further next week as to what it is showing in its chart. Futures are also up. Asia with the exception of (Hang Seng) and Europe is also up so I am hoping for a green field on our side next week. I am a little disappointed that we can't ride the waves when Monday comes as it is an official holiday(no trading). Hopefully DOW continues to move up the entire week.
Standing at 12.41% gain today of the target. I will not include the paper gains this time. 12.41% gain of the target is from AGI. Three weeks more to reach the target.
0.8% paper loss in FLI
0.9% paper loss in MPI
0.2% paper gain in DMC
Trade the plan: Watch out for cut loss exits, let the profits run. DON'T read anything other than the ticker when trading.
Just when I thought that the smoke has cleared, FLI still met strong selling pressure in Friday's session. However, it held right at its current support at 1.15 and bounced right off the bat. The only thing that would change its current trend is if it is sold down to 1.08 levels by Tuesday next week and I'll be ready to cut loss if that happens. My position in FLI closed 0.8% lower this week. 6-trading day in portfolio.
I am now confident and comfortable to what MPI did in Friday's session even though my position here closed 0.9% lower this week. This is probably the best time to get into position instead of rushing in last Wednesday. 3-trading day in portfolio.
MEG strongly held at its support at 1.88. It is probably the best price to get into position. However, it needs to close higher than 1.98 on Tuesday's session to confirm the uptrend. 1-trading day in comparison with DMC.
Surprisingly DMC held at its current levels leaving me with a measly 0.02% gain for the week! DMC needs to close above 21.60 to sustain its uptrend. 1-trading day in portfolio. Previous post should be 21.50 that left me with 1% gain.
I might look into other stocks that could be posing more possible upside in the shorter time frame i.e., 5 trading days.
It is rather hard to predict the market movement for next week as the information I have at hand seems incorrect. However, my data on DJIA seems alright so I am going to write my take on it. DJIA is more likely to go up further next week as to what it is showing in its chart. Futures are also up. Asia with the exception of (Hang Seng) and Europe is also up so I am hoping for a green field on our side next week. I am a little disappointed that we can't ride the waves when Monday comes as it is an official holiday(no trading). Hopefully DOW continues to move up the entire week.
Standing at 12.41% gain today of the target. I will not include the paper gains this time. 12.41% gain of the target is from AGI. Three weeks more to reach the target.
0.8% paper loss in FLI
0.9% paper loss in MPI
0.2% paper gain in DMC
Trade the plan: Watch out for cut loss exits, let the profits run. DON'T read anything other than the ticker when trading.