Market closed 76 points higher today at 4188. Looks like the eleven-day consolidation finished yesterday.
Got whipsawed in MEG terribly as it closed at 2.39 today but you have to follow the plan. /sadface
Current position in DGTL is still lower by 7 centavos in six days. Didn't do much today except to watch the tape the whole time. I'm currently looking to range-trade some stocks if there is a viable trade setup.
I also found out a major flow in my current money management. It seems like I am exposing too much of my trading capital per trade!
Anyway, I am reading inverted charts again to see if the current trends and price movements are still valid.
Monday, October 4, 2010
Hello Monday!
Hello Monday! Looks like we're still poised for further consolidation-correction this week, courtesy of the crazy 500+ point jump this past month, plus no new news to push the prices. Quarterly company reports would be getting out sometime this month so there might be price action when that happens.
JGS is looking good as the IPO of Cebu Pacific is near. I might take a position here. Let's see how it goes tomorrow.
JGS is looking good as the IPO of Cebu Pacific is near. I might take a position here. Let's see how it goes tomorrow.