Added a new link:
Trading Systems, Methods & Resources from Finance Manila (financemanila.net).
Lots of stuff to learn in the thread. Too bad it isn't sticky-ed on FM so I'll be keeping a link for a more direct access instead of digging it from the grave. Worth every time spent reading when one needs guidance.
Wednesday, May 18, 2011
Haters gonna hate.
Despite my vow not to go/read forums anymore, I still did as I am bored as hell during trading sessions plus there's really nobody to talk to with regards to stock trading among my friends. Anyway, I am holding LC as my core position now so I frequent the LC thread in Finance Manila.
As I read the thread, I already felt that LC is poised for a heavy correction as majority of the posters are clamoring for a gap up to 1 while others are making calls for it to move to 1.20. As much as I do with everything, I ignored it and moved along. And so the correction came and so the bashers. I think yesterday was the worst day for LC as people started to dig up fundamentals again plus I really felt like bashing my head against the wall too lol.
Today it closed by more than 12%.
I think we can use the forums to use some of our trading decision too. As far as I have observed in the past, when people are clamoring for a gap up, it's time to sell. When people are bashing a certain stock - but with the exception of bash-plenty(is that even correct?) issues - it's time to sell.
Sold JGS for -2% of capital today @26.50 for PX @19.22. I still sold it despite the fact that negative momentum has slowed down/bottomed out already because positive momentum in PX has started to gain already. I am looking for a quick(a week) 10% in PX more or less.
FLI is up! Yay haha. Small position only. "GEO" fund.
DMI buy signal on SCC fyi.
See MA. Today was the confirmation that I was talking about right?