Thursday, December 9, 2010

The market lost 11.67 points today closing lower at 4209.42 with lower volume turnover.
Looks like we are currently consolidating in the short term.

AP continued to declined today as foreign brokerages that have bought lower continued to sell their previous positions and lack of support, losing another 3.10% closing lower at 32.80 - ATR's entry price. It's going to get ugly if it goes way below his entry.

Technically, it hasn't dropped this much since May 27 this year. I am expecting it to bounce by tomorrow though up til by mid week next week.. The buy signal that was given off two days ago is confirmed weak so it would be better to wait for a stronger buy confirmation before going in.

AP is up by 21.17% within 33 trading days.