The index today closed somehow flat, losing a mere 10 points in comparison to other Asian markets losing more than 2%. Value turnover is average with another 200M worth of foreign selling.
The superstar of yesterday, AEV, continued to be the main drag of the index, losing another 3.22%. Joining the fray are PNB -3.26%, RFM -3.03%, and SECB -2.94%. Other losers with heavy volume are LND and CYBR losing 4.15% and 3.95% respectively.
Setting the balance off the losers are TEL +1.59%, MA and MAB with 9.38% and 6.06% respectively, Lopez stocks coming back to life led by LPZ +5.51% and FPH +4.59, MWC +4.07% after getting sold down the other day, followed by SMDC +3.26% and SMPH 2.94%.
If anyone has noticed, gainers and losers are pretty much still scattered, which leads me to the conclusion that the market is experiencing rotational trading. I believe that being said, buying and holding, even trending stocks, is still not the way to go.
With that being said, I would be writing less for the moment and trade more. I would be using the 3 short-term trading methods that I have been testing and refining for the past few months plus the doji setup.
Oil is back again to the 100 levels, a flag/pennant is forming on the daily chart suggesting a huge upswing in the short term. Gold has also broke slightly higher than its previous high at 1430 at 1431.
I have been not posting charts lately as I am starting to remove charting from my trading to some extent. I am still using the charts to remember the price movements as I have a terrible memory remembering actual figures. My trading decision is now mostly based on price movement.
It feels like trend following has dulled my senses. Or I am probably doing it wrong.
Good luck to all, specially to me! :))
