The drop today looks pretty bad as value turnover has once again increased to 5.9B, 1.68B came from the huge cross in AEV at the open at 33.60. Discounting the huge cross, the value turnover still falls to more than 4B.
Gainers with significant volume are ELI +5.80%, LC +2.35%, RLT +2.94%, LND +1.94% and AGI +1.67%.
On the other hand, losers with significant volume is led by ION -9.59% which was the superstar the other day, MRC -5%, CMT -3.80%, RFM -3.64%, DFNN -3.26%.
Index heavyweights for today are ALI -3.45%, MA -3.33%, and MBT -3.25% with TEL also losing 0.58% after waves of selling orders.
NIKL has started its correction in the short term. I still have some cash left so I would probably put up another position here after the correction.
AGI has somehow broke out of its triangle pattern - specially from its 5-min frame) at 12.10). If AGI closes at 12.36 or higher, I am fully convinced that it has broken out of its trading range already. I really hate seeing small white candlesticks during uptrends.
I am somewhat disappointed in SMC though as it closed flat from yesterday. Still hesitating at 185 levels! I am expecting it to head back to 180 if it encounters a corrective-consolidation cycle. Breaking down below 180 after the cycle is bad.
If SMC would still remain a laggard after AGI breaking 12.36 and NIKL starts to resume its uptrend again, I would probably liquidate it to add on both positions.
AEV had a humongous cross at the opening. 50M shares at 33.60. I have learned before that volume spikes usually starts something, a turning point so to speak. Putting some special attention to it from now on.
Position in SCC(my aunt's) still looking good. Definitely trending so I'm just gonna follow it the trend.
I would try to post something about foreign activities later once the QDR comes out.
Wednesday, February 9, 2011
Psychology during Stock Market Cycles
So where are we? As for me, I am just feeling either excited or thrilled as of the moment. That's one step away before the end! XD
Anyway, I had a long talk with my aunt yesterday since I am the one managing her trading account. Despite of the relative bullishness of the market in the last two years, she still feels beaten up and skeptic with the market because of her massive loss in AJO(now MARC) from 2007 levels I think. I think I was able to persuade her to close the loser so we can use the proceeds to (try to) gain back what she lost.