Tuesday, July 19, 2011

Bailed out on PWR today. My trailing stop at 5.10 was triggered so I had to sell and take profits. The only problem earlier today was COL going bananas. The ticker is showing 4.80+ while the quotation reading is still above 5 so I really had a very bad fill for my trailing stop which is pissing me off. I had a plan and I was trading the plan and yet, the broker won't let me trade my plan. LOL.

Anyway, average entry is below par so it is still a pretty good profit (ROI: 23%). My only regret in this trade is that I sold half of my position at 1.37! I should have increased my position since it was climbing up. Oh well, hindsight.

Didn't have any position on the blues since 40% of my funds were in LCB, 16% in GERI and the remaining fund was freed up for the second/third liner plays(shoot anything that moves) so when LC/B started to attract attention, I just increased my position in LCB (by 57%) today. Let's see if I did the right move.

All of the proceeds that gained from the basura plays are plowed into PCOR and SMC which both gave signals to buy. All the barya that's left were used to buy a very small position in LC(masabi lang may LC).

Bought the 3k VITA shares earlier today at 1.10 since I was expecting it to spike up. 5 minutes later it was trading at around 1 peso already so I sold it immediately. Sayang 300 pesos. Profit from the ELI trade was around 200 pesos I think so I've only lost coffee money.

Earlier this year, same time when the market was slowly trending down and trying to kill everyone long on index issues, I tried my hands on trading third line issues which resulted in either a loss or a missed opportunity. I was told that charting/technical analysis doesn't work on those so I promised myself that I will find a way to trade the said type of issues.

I think I did and I think I will be keeping it for myself in the mean time.