The market hardly moved today, closing up with 13 points higher from yesterday's session at 4067.43. The market could have closed lower today if not for the mining sector.
No trades for me today as I did some personal errands today so I didn't get to chase AT, but it gave a buy signal today. I'll try to buy tomorrow. PX doesn't seem to need chasing as it lost its momentum today.
MEG has finally declined together with my technical indicator, negating its bearish divergence that I thought was bullish. The bands are tightening so I am expecting a break in the near term. Support at 2.29 should hold. Currently formed a tweezer bottom in the middle of the trading range. Let's see how would this one perform.
I am looking for a day-trade/short term play in either ACR or MARC as 50% of my capital is free but I am still looking to average up in my position in MEG and in AT. PAR-SAR just gave out a buy signal in ACR last Tuesday while the buy signal in MARC was from last Friday. I think I can catch up the last upswing tomorrow.
LC/B could also provide a good day trading for tomorrow.
I have also been looking at the monthly charts for possible "long term" trades using PAR-SAR and I found DGTL as a possible candidate. ACR gave its buy signal in the weekly charts late September. PX, LND gave its signal early this month. MA and MARC just gave its buy signal last week. LC/B gave their buy signal in the weekly charts three months early! RFM and SFI has just began sending off buy signal so it might be worth watching in the coming months.
So in the case of LC/B, how early is early and how late is late?
8.28% net loss in seven trading days courtesy of GMAP and 0.86% loss in MEG.
*I am assuming that the height of the ascent during spikes is also the time needed during consolidation. This is would be true, the index would advance again after four more days of consolidation.
