Asian markets closed in the red zone today and European markets are still trading in the red zone as of this writing. US Futures are also in the red. I wonder how the market will react tomorrow as we still ended up green with 29 points after ALI went back to its normal pricing that sent the market 50 points lower earlier in the session.
Still no trades for today, still waiting for entry points. However, I looked for rotational plays today when my primary trades goes for corrections and I found two possible trades. I will try to study their behavior for the mean time.
BDO continued to trend up for 10 days straight now, gaining 15.80%. I'm surprised by its movement though as I was not expecting it to trend continuously. It might reach 60-62 before correcting back. I am expecting it to consolidate when it corrects.
One-trading day left for the first month of my new trading system.
Wednesday, September 8, 2010
DMCI Holdings (DMC)
Trading Plan
Entry: 23.37 - 22.90 - 22.42
Target: 26.42 - 27.37
Cut loss: 21.84
Gap up at 22 suggests immediate support, pointing at 25.15 as target.
Currently trading at all time high.
Entry: 23.37 - 22.90 - 22.42
Target: 26.42 - 27.37
Cut loss: 21.84
Gap up at 22 suggests immediate support, pointing at 25.15 as target.
Currently trading at all time high.
Metro Pacific Investmenst Corp. (MPI)
Trading plan
Entry: 3.55 - 3.50 - 3.43
Target: 3.94 - 4.06
Cut loss: 3.36
Gap up at 3.62 has been filled. The gap up at this level is possibly an exhaustion gap before correcting.
Gap up at 3.40 suggests immediate support, pointing at 3.82 as target.
Major resistance at 3.80.
Entry: 3.55 - 3.50 - 3.43
Target: 3.94 - 4.06
Cut loss: 3.36
Gap up at 3.62 has been filled. The gap up at this level is possibly an exhaustion gap before correcting.
Gap up at 3.40 suggests immediate support, pointing at 3.82 as target.
Major resistance at 3.80.
GMA Holdings (GMAP)
Initial trading plan
Entry: 6.65 - 7
1% Bounce from entry: 6.71 - 7.07
Break-even: 7.20
Psychological resistance: 7.70 - 8.10
Major resistance: 8.60
Cut loss: 6.40 - 6.76
New trading plan
Entry: 7.30 - 7.08 - 6.93 - 6.76
Target: 8.11 - 8.43
Cut loss: 6.56
Formed a tweezer bottom suggesting an immediate support at 7.30 in the short term.
Gap up support at 6.65, pointing at 8.30 as target.
Entry: 6.65 - 7
1% Bounce from entry: 6.71 - 7.07
Break-even: 7.20
Psychological resistance: 7.70 - 8.10
Major resistance: 8.60
Cut loss: 6.40 - 6.76
New trading plan
Entry: 7.30 - 7.08 - 6.93 - 6.76
Target: 8.11 - 8.43
Cut loss: 6.56
Formed a tweezer bottom suggesting an immediate support at 7.30 in the short term.
Gap up support at 6.65, pointing at 8.30 as target.
Alliance Global Group Inc. (AGI)
Trading Plan
Minor Trend - Short term
Entry points : 7.12 - 6.97 - 6.81
Target: 8.16 - 8.48
Cut loss: 6.65
Intermediate Trend - Medium term
Entry points: 7.06 - 6.88 - 6.70
Target: 8.23 - 8.59
Cut loss: 6.48
Major Trend - Long term
Entry points: 6.79 - 6.52 - 6.25
Target: 8.50 - 9.04
Cut loss: 5.93
Formed a tweezer top suggesting short-term peak.
Gap support at 6.87, pointing at 7.79 as target.
Caveat.
Minor Trend - Short term
Entry points : 7.12 - 6.97 - 6.81
Target: 8.16 - 8.48
Cut loss: 6.65
Intermediate Trend - Medium term
Entry points: 7.06 - 6.88 - 6.70
Target: 8.23 - 8.59
Cut loss: 6.48
Major Trend - Long term
Entry points: 6.79 - 6.52 - 6.25
Target: 8.50 - 9.04
Cut loss: 5.93
Formed a tweezer top suggesting short-term peak.
Gap support at 6.87, pointing at 7.79 as target.
Caveat.
Tuesday, September 7, 2010
Personal Disclosure
Nothing happened much in today's trading as we were down by 5 points when I left while I was basically waiting for buying opportunities. When I got back, the market closed higher by 31 points courtesy of ALI gaining 10% for the day closing at 18.
GMAP reached my predicted price and it is now starting to correct. DMC began to correct today as the recent ascend was unsustainable. AGI still bounced strongly after being sold down last week and it is now beginning to correct also. I am more inclined to buy AGI though since I already know how it moves.
What I need to do now is to find stocks to rotate my funds with as I have no trades the following week after I liquidate. MEG, FGEN, JFC, and BEL are possible candidates for rotation. However, I am a bit unsure with the trend strength of BEL. We'll see how it goes.
Will write my trading plan this week. Still waiting for entry points.
GMAP reached my predicted price and it is now starting to correct. DMC began to correct today as the recent ascend was unsustainable. AGI still bounced strongly after being sold down last week and it is now beginning to correct also. I am more inclined to buy AGI though since I already know how it moves.
What I need to do now is to find stocks to rotate my funds with as I have no trades the following week after I liquidate. MEG, FGEN, JFC, and BEL are possible candidates for rotation. However, I am a bit unsure with the trend strength of BEL. We'll see how it goes.
Will write my trading plan this week. Still waiting for entry points.
Monday, September 6, 2010
New Trading System
After 14 days of testing my new trading system, I have only gained 38.32% of the initial target(25% of capital). With six-trading days left for my new trading system, I don't think I can find a trade to make up for the 61.68% that I have not gained yet after 14-trading days without putting my trading capital at a high risk as the general market has already climbed so much this past week.
First mistake that I made with my new trading system is I didn't wait for corrections to fully mature by taking up positions prematurely as I have done with MPI as my technical indicator has not confirmed my entry before, thus prolonging my exposure to market forces too long.
Second mistake that I made was not pulling the trigger fast enough. This happened when I took a position in FLI and not selling it when there was a clear sell signal. I could have simply taken another position with lower cost as it fell to 1.15, .04 centavos lower than my original cost. Or I could have added the proceeds of FLI to my recent position in MPI. Holding longer than more than 5-trading days are exposed to missing more profitable opportunities.
The third and last mistake is waiting for too much confirmation which happened to basically all the trades I made with the exception of cutting my losses in FPH.
Another weakness I found out with this trading system is that I have no stocks to rotate one my funds once I close out my positions, leaving me waiting for five-trading days for my current positions to correct.
3 out of the 4 trades came out successful within the 20-trading day limit, with 6 trading days left. I am pretty sure that there's a computation for success rates so I will not compute it as I don't have the formula right now. Gotta check my other notes.
FGEN - 4.83% Net loss - one-trading day
FLI - 6.25% Net gain - eleven-trading days
MPI - 8.20% Net gain - seven-trading days
DMC - 10.50% Net gain - six-trading days
Trading settings:
1. 1-2% bounce from entry price should be enough to warrant a buy. The allocated bounce from entry is there to minimize the risk of the trade going south and cutting loss.
2. Holding time is now back to five to six-trading days, depending on trend strength and momentum but should not last for more than 10-trading days.
3. Never take positions prematurely. Current technical indicator is good in pointing out good entry timing.
4. Find a faster way to pull the trigger in trailing stops.
Also, the technical indicator I am using is very useful in pointing out entries but it is relatively weaker in giving selling signals so I still need another technical indicator that sends off better sell signals. Williams' Percentage Range (%R) might be good but I still need to test it to see if it works in trending positions.
Overall, my new trading system only gained 9.63% of total capital. It's not bad but I am not impressed. I still need to work on pulling the trigger faster once the trailing stops get hit.
First mistake that I made with my new trading system is I didn't wait for corrections to fully mature by taking up positions prematurely as I have done with MPI as my technical indicator has not confirmed my entry before, thus prolonging my exposure to market forces too long.
Second mistake that I made was not pulling the trigger fast enough. This happened when I took a position in FLI and not selling it when there was a clear sell signal. I could have simply taken another position with lower cost as it fell to 1.15, .04 centavos lower than my original cost. Or I could have added the proceeds of FLI to my recent position in MPI. Holding longer than more than 5-trading days are exposed to missing more profitable opportunities.
The third and last mistake is waiting for too much confirmation which happened to basically all the trades I made with the exception of cutting my losses in FPH.
Another weakness I found out with this trading system is that I have no stocks to rotate one my funds once I close out my positions, leaving me waiting for five-trading days for my current positions to correct.
3 out of the 4 trades came out successful within the 20-trading day limit, with 6 trading days left. I am pretty sure that there's a computation for success rates so I will not compute it as I don't have the formula right now. Gotta check my other notes.
FGEN - 4.83% Net loss - one-trading day
FLI - 6.25% Net gain - eleven-trading days
MPI - 8.20% Net gain - seven-trading days
DMC - 10.50% Net gain - six-trading days
Trading settings:
1. 1-2% bounce from entry price should be enough to warrant a buy. The allocated bounce from entry is there to minimize the risk of the trade going south and cutting loss.
2. Holding time is now back to five to six-trading days, depending on trend strength and momentum but should not last for more than 10-trading days.
3. Never take positions prematurely. Current technical indicator is good in pointing out good entry timing.
4. Find a faster way to pull the trigger in trailing stops.
Also, the technical indicator I am using is very useful in pointing out entries but it is relatively weaker in giving selling signals so I still need another technical indicator that sends off better sell signals. Williams' Percentage Range (%R) might be good but I still need to test it to see if it works in trending positions.
Overall, my new trading system only gained 9.63% of total capital. It's not bad but I am not impressed. I still need to work on pulling the trigger faster once the trailing stops get hit.
Personal Disclosure
The market opened strong in today's trading with a high of 3787 but most traders locked in their profits today driving the index lower gaining and closing with 9.4 points only. Today might be the start of the correction as the candlesticks are showing a scary shooting star - possibly evening star in the making. Possible support at 3620. If it does otherwise, the market is running into the danger of overheating.
By mid-session, I decided to take profits and close out my positions in MPI at 3.66 with 8.20% net gain and FLI at 1.30 with 6.25% net gain, as both trailing stop got hit. I could have sold MPI for more but a misunderstanding happened with my broker today as they were seeing 3.71 in the bid but I was seeing 3.69 already so I decided not to sell just yet. When 3.68 bid side was demolished, I decided to sell at market which was 3.66 already as 3.67 was easily sold down. The error cost me 1.10% in that trade, .04 centavos off my trailing stop.
Later in today's session, the support in DMC collapsed steadily, closing at 24.20, the same level I closed my position with a 10.50% net gain.
Overall performance, DMC outperformed all the other stocks I held, taking me by surprise as it has relatively low risk with high reward performance. Performance was also confirmed by the length of holding time vs the profit it gained. DMC gained 10.50% within six-trading days, MPI with 8.20% within seven-trading days, and FLI with 6.25% within eleven trading days.
Most of the stocks that I held closed with bearish patterns. MPI and FLI both closed with bearish engulfing while DMC closed with a shooting star, all are enough to merit a sell signal.
Now that I closed my positions early this week, it's now a waiting game to find possible entries in GMAP, GMA7, PX and in DMC again. I need to write a trading plan for these before the weekends.
By mid-session, I decided to take profits and close out my positions in MPI at 3.66 with 8.20% net gain and FLI at 1.30 with 6.25% net gain, as both trailing stop got hit. I could have sold MPI for more but a misunderstanding happened with my broker today as they were seeing 3.71 in the bid but I was seeing 3.69 already so I decided not to sell just yet. When 3.68 bid side was demolished, I decided to sell at market which was 3.66 already as 3.67 was easily sold down. The error cost me 1.10% in that trade, .04 centavos off my trailing stop.
Later in today's session, the support in DMC collapsed steadily, closing at 24.20, the same level I closed my position with a 10.50% net gain.
Overall performance, DMC outperformed all the other stocks I held, taking me by surprise as it has relatively low risk with high reward performance. Performance was also confirmed by the length of holding time vs the profit it gained. DMC gained 10.50% within six-trading days, MPI with 8.20% within seven-trading days, and FLI with 6.25% within eleven trading days.
Most of the stocks that I held closed with bearish patterns. MPI and FLI both closed with bearish engulfing while DMC closed with a shooting star, all are enough to merit a sell signal.
Now that I closed my positions early this week, it's now a waiting game to find possible entries in GMAP, GMA7, PX and in DMC again. I need to write a trading plan for these before the weekends.
Personal Disclosure and trading plan for this week
DOW closing another +127 points last Friday is still making me bullish. However this might be a sign of impending correction this week. I still believe that the correction might come late this week, possibly on Thursday as Friday was declared as a non-working holiday in recognition of the end of Ramadan. I am looking at 3595 as possible support once the market makes a correction.
Basically, the trading plan for this week is to look for possible exits.
FLI has started to show weakness in the charts. However, it still needs confirmation before taking action. MPI has also shown weakness as shown in its rate of change. Possible exit at 3.82 once weakness surfaces. DMC seems like it lost momentum and it's ready to make a correction, possibly forming the usual rising three methods. This might be the only one I'd keep as it only makes small corrections before moving back up again. All trailing stop are now active, maybe with an exception to DMC. Let's see what happens this week.
PX, GMAP and GMA7 might also be worth looking this week.
Monday!
Basically, the trading plan for this week is to look for possible exits.
FLI has started to show weakness in the charts. However, it still needs confirmation before taking action. MPI has also shown weakness as shown in its rate of change. Possible exit at 3.82 once weakness surfaces. DMC seems like it lost momentum and it's ready to make a correction, possibly forming the usual rising three methods. This might be the only one I'd keep as it only makes small corrections before moving back up again. All trailing stop are now active, maybe with an exception to DMC. Let's see what happens this week.
PX, GMAP and GMA7 might also be worth looking this week.
Monday!
Sunday, September 5, 2010
Metro Pacific Investments Corp. (MPI)
It appears that the stock has broken out of its uptrend channel the last week and it is now trading within the gap down that was formed on September 25 last year. It also looks like it's about to test a major resistance at 3.80, with a higher possibility of breaking it as the volume accompanying with the trade last week is relatively high. The MACD crossing above the zero line and the
10-week moving average crossing 50-week moving average also confirms of the further ascend. OBV reading also suggests that the price movement is normal(bullish) as it fluctuates together with the price movement.
Six-month daily chart analysis
Price movement accelerated further after breaking out of its downtrend, confirmed by the crossing-over of the 10 and 20-day moving average over the 200-day moving average which was accompanied by high volume. DMI reading also suggests that the current uptrend is very strong. However, the weakening of the ROC should be a concern as it might be a warning of weakness in the short term.
Major resistances are at 3.80(short term) and 4.70(long-term).
Major support is at 3.62(short term).
Ideally, the stock should reach 3.86 before making a correction and heads back at 3.62.
*UPDATE
Two-Year weekly chart analysis
Broke the resistance at 3.75. Expect to retest 3.75 before moving up again.
Is MPI a buy or sell?
Caveat.
Saturday, September 4, 2010
Scans for next week: GMA Holdings (GMAP)
Broke out of its one-year downtrend last September 3 accompanied by relatively high volume as also confirmed by the MACD line crossing over the zero line. 10-day and 20-day moving averages are still below the 200-day MA suggesting the need of further confirmation before taking position. However, 10-day MA has already crossed over the 20-day MA so it may warrant a confirmation of entry.
The ideal movement of the stock next week is to reach 7.50 before it starts to correct.
Once it makes a correction, expect the price to hold at 7. A bounce off that price level with volume would warrant a confirmation of entry and expect to meet immediate resistance at 7.70.
Major resistances in the short to medium term are 7.70, 8.10 and 8.60. There was also a resistance at 7 but it was taken out in yesterday's session.
The was also a small gap formed last Friday, pointing at 8.24 as a target.
However, if it drops further below 7, it would suggest that the breakout is a failure and it will most likely to resume its downtrend.
Entry: 6.65 - 7
1% Bounce from entry: 6.71 - 7.07
Break-even: 7.20
Psychological resistance: 7.70 - 8.10
Major resistance: 8.60
Cut loss: 6.40 - 6.76
Inverted 2-year chart:
Is it a buy or sell?
Caveat.
Friday, September 3, 2010
Scans for next week: Philex Mining Corp (PX)
Broke out of its one-year downtrend last September 2 as confirmed by the crossing of the MACD line over the zero line which was also accompanied by exceptional volume. However, 10-day and 20-day moving averages are still below the 200-day MA suggesting the need of further confirmation before taking position.
The ideal movement of the stock next week is to reach 13 first before it starts to correct.
Price bouncing off 11 accompanied with volume would suggest a strong buy signal as it would indicate a strong support at the said level, with an immediate resistance at 13.
However, if it drops further below 11, it would suggest that the breakout is a failure and it will most likely to resume its downtrend.
Entry: 11
Psychological resistance: 13 - 14
Major resistance: 16 - 19.50
Caveat.
Personal Disclosure
Even after DOW's relatively weaker closing last night with +50 points, our market still surged up by another 68 points pushing every major stock up. Good thing the big boys continued their buying frenzy today. Hopefully DOW ends up positive again tonight to extend the green fields! I am looking forward to take profits by early next week.
MPI continued to perform very good in today's session gaining another 3.91%, closing at 3.72 as it also made another gap up from yesterday, pointing now at 4.02 as target! This looks very possible if the foreign buying frenzy continues til next week. The previous gap up target at 3.82 might be the next psychological resistance. Psychological resistance at 3.55 and 3.65 are taken out today, while the next psychological resistance at 3.75 was touched but it held strongly as it fended the price off at that level. Once the psychological resistances at 3.75 and 3.82 are taken out, major resistance will be at 4.20. Trailing stop is also adjusted with today's closing. Seven trading days in portfolio netting 9.97% paper gain for the entire holding period.
FLI continued to perform well today as it gained another 3.97% closing at 1.31 with a high of 1.32, accompanied by exceptional volume. Psychological resistance at 1.22 was taken out yesterday while 1.26 and 1.30 are taken out today. The price also touched the next psychological resistance level at 1.32 but it defended the said level strongly. However, once 1.32 is taken out, next psychological resistances will be at 1.40, 1.42 and 1.50 while major resistance levels are at 1.92 and 2.40. Trailing stop is also adjusted with today's closing. Ten trading days in portfolio netting 7% paper gain for the entire holding period.
DMC stopped being a disappointment today as it played some catching up in today's session as it gained 6.42% closing at 23.20 that also made a small gap up from yesterday's session that was accompanied by exceptional volume. The small gap up points at 24.15 as target. It is also now trading at it's all-time high at 23.20. Trailing stop is now active. The previous high at 22.05 acts as the psychological support. Five-trading days in portfolio netting 5.94% for the entire holding period.
MEG didn't lagged as much in comparison to DMC as it gained another 3% in today's session filling the previous gap down and breaking the immediate psychological resistance at 2 and 2.04, closing above both at 2.05. Next psychological resistance is at 2.24, 2.40, 2.68, 2.88 and 3.20 respectively and major resistance at 3.56.
Five trading days in comparison with DMC netting 6.06% for the current period, slightly higher by 0.12%.
DMC didn't perform as bad as I thought after all.
Stocks that broke out of their downtrend are GMA7, GMAP, and PX. They might be worth a look.
Standing at 12.41% gain today of the target courtesy of AGI. 7-trading days left to reach the target
9.97% net paper gain in MPI
7.07% net paper gain in FLI
5.94% net paper gain in DMC
Still sitting tight! I am looking for windows to sell next week though.
MPI continued to perform very good in today's session gaining another 3.91%, closing at 3.72 as it also made another gap up from yesterday, pointing now at 4.02 as target! This looks very possible if the foreign buying frenzy continues til next week. The previous gap up target at 3.82 might be the next psychological resistance. Psychological resistance at 3.55 and 3.65 are taken out today, while the next psychological resistance at 3.75 was touched but it held strongly as it fended the price off at that level. Once the psychological resistances at 3.75 and 3.82 are taken out, major resistance will be at 4.20. Trailing stop is also adjusted with today's closing. Seven trading days in portfolio netting 9.97% paper gain for the entire holding period.
FLI continued to perform well today as it gained another 3.97% closing at 1.31 with a high of 1.32, accompanied by exceptional volume. Psychological resistance at 1.22 was taken out yesterday while 1.26 and 1.30 are taken out today. The price also touched the next psychological resistance level at 1.32 but it defended the said level strongly. However, once 1.32 is taken out, next psychological resistances will be at 1.40, 1.42 and 1.50 while major resistance levels are at 1.92 and 2.40. Trailing stop is also adjusted with today's closing. Ten trading days in portfolio netting 7% paper gain for the entire holding period.
DMC stopped being a disappointment today as it played some catching up in today's session as it gained 6.42% closing at 23.20 that also made a small gap up from yesterday's session that was accompanied by exceptional volume. The small gap up points at 24.15 as target. It is also now trading at it's all-time high at 23.20. Trailing stop is now active. The previous high at 22.05 acts as the psychological support. Five-trading days in portfolio netting 5.94% for the entire holding period.
MEG didn't lagged as much in comparison to DMC as it gained another 3% in today's session filling the previous gap down and breaking the immediate psychological resistance at 2 and 2.04, closing above both at 2.05. Next psychological resistance is at 2.24, 2.40, 2.68, 2.88 and 3.20 respectively and major resistance at 3.56.
Five trading days in comparison with DMC netting 6.06% for the current period, slightly higher by 0.12%.
DMC didn't perform as bad as I thought after all.
Stocks that broke out of their downtrend are GMA7, GMAP, and PX. They might be worth a look.
Standing at 12.41% gain today of the target courtesy of AGI. 7-trading days left to reach the target
9.97% net paper gain in MPI
7.07% net paper gain in FLI
5.94% net paper gain in DMC
Still sitting tight! I am looking for windows to sell next week though.
Thursday, September 2, 2010
Personal Disclosure
DOW's closing up by 254 points or 2.54% last night gave a big push to our market today as most of the stocks advanced and the market itself made a gap up! Hopefully, DOW is up again tonight so the big boys won't take profits tomorrow just yet~ Extend the green fields til next week!
MPI is the best performer in my portfolio right now as it gained another 3.47% today closing at 3.58, giving me 6% net gain since I bought it. Moving up my trailing stop again. The psychological resistance at 3.55 was taken out today but the next psychological resistance held back further price movement. Next immediate psychological resistance is at 3.65, next is at 3.70. The gap up made yesterday also points at 3.82 at a target in the short term. Next major resistance is at 4.20. Six-trading days in portfolio.
FLI also performed very well today as it also made a gap up from yesterday's session, pointing at 1.38 as a target that it needs to take out. The gap today at 1.20 should also act as support once it corrects again. This one is another portfolio performer today as it already nets me a 3.33% gain already for the entire holding period. Trailing stop is now active. Nine-trading days in portfolio.
DMC is a disappointment as it only gained a measly 1.40% at 21.80, not even break-even with costs! Not to mention poor performance in comparison with this current run-up. Four-trading days in portfolio.
MEG also performed very well today as it gained 5.85% closing at 1.99, netting a 6.90% gain in four-trading days in comparison with DMC and outperforming it. It even made a gap up from yesterday's session at 1.94, pointing at 2.13 as a target.
BDO still continued to move up further and forming a gap in today's session that points at 57.25 as target.
I will try to sell DMC tomorrow or maybe early to mid-week by next week at break-even or hopefully even for a small gain. I'm looking forward to taking positions in MEG or BDO once they make a correction.
AGI is also looking good in the mean time as it rebounded strongly after being sold down. PIP is also looking good as it finally broke ouf of it's downtrend. Theses two might be worth to looking at again.
Standing at 12.41% gain today of the target courtesy of AGI. 8-trading days left to reach the target.
8.81% paper gain in MPI (6.02% net gain).
5.88% paper gain in FLI (3.33% net gain).
2.34% paper gain in DMC (0.46% net loss).
Still sitting tight!
MPI is the best performer in my portfolio right now as it gained another 3.47% today closing at 3.58, giving me 6% net gain since I bought it. Moving up my trailing stop again. The psychological resistance at 3.55 was taken out today but the next psychological resistance held back further price movement. Next immediate psychological resistance is at 3.65, next is at 3.70. The gap up made yesterday also points at 3.82 at a target in the short term. Next major resistance is at 4.20. Six-trading days in portfolio.
FLI also performed very well today as it also made a gap up from yesterday's session, pointing at 1.38 as a target that it needs to take out. The gap today at 1.20 should also act as support once it corrects again. This one is another portfolio performer today as it already nets me a 3.33% gain already for the entire holding period. Trailing stop is now active. Nine-trading days in portfolio.
DMC is a disappointment as it only gained a measly 1.40% at 21.80, not even break-even with costs! Not to mention poor performance in comparison with this current run-up. Four-trading days in portfolio.
MEG also performed very well today as it gained 5.85% closing at 1.99, netting a 6.90% gain in four-trading days in comparison with DMC and outperforming it. It even made a gap up from yesterday's session at 1.94, pointing at 2.13 as a target.
BDO still continued to move up further and forming a gap in today's session that points at 57.25 as target.
I will try to sell DMC tomorrow or maybe early to mid-week by next week at break-even or hopefully even for a small gain. I'm looking forward to taking positions in MEG or BDO once they make a correction.
AGI is also looking good in the mean time as it rebounded strongly after being sold down. PIP is also looking good as it finally broke ouf of it's downtrend. Theses two might be worth to looking at again.
Standing at 12.41% gain today of the target courtesy of AGI. 8-trading days left to reach the target.
8.81% paper gain in MPI (6.02% net gain).
5.88% paper gain in FLI (3.33% net gain).
2.34% paper gain in DMC (0.46% net loss).
Still sitting tight!
Wednesday, September 1, 2010
Personal Disclosure
The market closed 27 points higher despite DOW's flat closing by +5 points. All's well and green this time. Hopefully the green grass lasts till next week.
MPI closed at 3.46 and still looking strong netting me a gain of 2.29% today! I'm putting on my trailing stop active now. It also gaped up from yesterday's session pointing at 3.82 as target. Psychological resistances are at 3.55, 3.60, 3.65 and 3.75,while major resistance is at 4.20. Five-trading days in portfolio.
FLI is slowly building up strength again although I am still 0.01 centavos loss here. Nothing really exciting today as volume turnover is relatively low. Eight-trading days in portfolio.
DMC also showed positive movements today as it closed 0.70% higher today although the volume turnover is relatively low so I am still feeling uneasy with my position right now. I am looking for a easy break-even here to move my funds to another stock position with relatively more active price movement. Break-even at 21.96. However if it starts to have a more active price movements, I will keep my position here.
Three-trading days in portfolio.
MEG, in comparison to DMC, closed 1% higher at 1.88, bouncing from its recent low at 1.84. Three-trading days in comparison to DMC.
Price movement of BDO is definitely accelerating as it continued to move up in today's session.
Standing at 12.41% gain today of the target courtesy of AGI. 9-trading days left to reach the target.
5.16% paper gain in MPI.
0.08% paper loss in FLI.
0.07% paper gain in DMC.
Sitting back and sitting tight this week.
MPI closed at 3.46 and still looking strong netting me a gain of 2.29% today! I'm putting on my trailing stop active now. It also gaped up from yesterday's session pointing at 3.82 as target. Psychological resistances are at 3.55, 3.60, 3.65 and 3.75,while major resistance is at 4.20. Five-trading days in portfolio.
FLI is slowly building up strength again although I am still 0.01 centavos loss here. Nothing really exciting today as volume turnover is relatively low. Eight-trading days in portfolio.
DMC also showed positive movements today as it closed 0.70% higher today although the volume turnover is relatively low so I am still feeling uneasy with my position right now. I am looking for a easy break-even here to move my funds to another stock position with relatively more active price movement. Break-even at 21.96. However if it starts to have a more active price movements, I will keep my position here.
Three-trading days in portfolio.
MEG, in comparison to DMC, closed 1% higher at 1.88, bouncing from its recent low at 1.84. Three-trading days in comparison to DMC.
Price movement of BDO is definitely accelerating as it continued to move up in today's session.
Standing at 12.41% gain today of the target courtesy of AGI. 9-trading days left to reach the target.
5.16% paper gain in MPI.
0.08% paper loss in FLI.
0.07% paper gain in DMC.
Sitting back and sitting tight this week.
Tuesday, August 31, 2010
Personal Disclosure
Despite of the positive movements of DJIA last Friday, it still took a beating on Monday. Good thing that the PSEi didn't follow suit and it still closed up by 7 points in today's session.
FLI continues to disappoint me closing 3.36% lower from Friday's session. However, positive signs are showing up on the charts so I am keeping my fingers crossed for the mean time. Ready to cut my losses. 7-trading days in portfolio.
MPI closed strongly today with a 3.37% gain from the previous session accompanied by outstanding volume. Now sitting on a 2.43% paper gain. 4-trading days in portfolio.
DMC held up strongly today closing unchanged from last Friday's closing at 21.35. 2-trading days in portfolio.
MEG closed lower by 1.59% at 1.86 in today's session but still holding up above its immediate support at 1.82. 2-trading days in comparison to DMC.
AGI is showing some strength now as I believe the sell down last week was over done. However, it still needs confirmation to warrant an entry this week.
I have been reading a lot and I was asking ellioticians before for price movements and targets. One thing I observed from their forecasts are they are relatively off the target by almost 20% most of the time. Anyway, I think it's better stick to my guns now as they are showing better accuracy in comparison to other people's guns.
Standing at 12.41% gain today of the target courtesy of AGI. 10-trading days left to reach the target.
2.43% paper gain in MPI.
3.36% paper loss in FLI.
DMC is currently unchanged.
Trading plan for this week: Sit back and sit tight.
FLI continues to disappoint me closing 3.36% lower from Friday's session. However, positive signs are showing up on the charts so I am keeping my fingers crossed for the mean time. Ready to cut my losses. 7-trading days in portfolio.
MPI closed strongly today with a 3.37% gain from the previous session accompanied by outstanding volume. Now sitting on a 2.43% paper gain. 4-trading days in portfolio.
DMC held up strongly today closing unchanged from last Friday's closing at 21.35. 2-trading days in portfolio.
MEG closed lower by 1.59% at 1.86 in today's session but still holding up above its immediate support at 1.82. 2-trading days in comparison to DMC.
AGI is showing some strength now as I believe the sell down last week was over done. However, it still needs confirmation to warrant an entry this week.
I have been reading a lot and I was asking ellioticians before for price movements and targets. One thing I observed from their forecasts are they are relatively off the target by almost 20% most of the time. Anyway, I think it's better stick to my guns now as they are showing better accuracy in comparison to other people's guns.
Standing at 12.41% gain today of the target courtesy of AGI. 10-trading days left to reach the target.
2.43% paper gain in MPI.
3.36% paper loss in FLI.
DMC is currently unchanged.
Trading plan for this week: Sit back and sit tight.
Monday, August 30, 2010
Personal Disclosure
The only trade I did last week that I am still uncomfortable up till now is DMC. Something with it doesn't feel right with me. BDO is looking good. I'm going to look out for pullbacks on this one.
Crappy long weekend. No trading for today because of the holiday.
Crappy long weekend. No trading for today because of the holiday.
Saturday, August 28, 2010
Scans
AGI: Smart money seems they are still in. However, the uptrend got weaker during the sell down this week. Gap down target of 6.35 was exceeded this week, closing at 6.33. Next possible support at 6.15 and resistance at 6.95. Might consolidate for a while. Uptrend is still intact.
BDO: Smart money seems to be flowing back in again. However, price movement still seems rather slow for now. Uptrend is now starting to get stronger. I'll be putting special attention here this week.
EDC: Seems to be holding at 4.60. Buy if it continues to hold at 4.60 and if it bounces off strongly from that level. Short term target is 5.05. Wait for entry confirmation. Smart money is also following price movement however, trend strength got relatively weaker.
MBT: Smart money seems to be following price movement. Trend strength got relatively weaker from the previous week. Possible support at 63.50. Wait for entry confirmation.
PX: Smart money just started flowing back in. Immediate resistance at 10.50 was also taken out this week after making a gap from the previous session.
BDO: Smart money seems to be flowing back in again. However, price movement still seems rather slow for now. Uptrend is now starting to get stronger. I'll be putting special attention here this week.
EDC: Seems to be holding at 4.60. Buy if it continues to hold at 4.60 and if it bounces off strongly from that level. Short term target is 5.05. Wait for entry confirmation. Smart money is also following price movement however, trend strength got relatively weaker.
MBT: Smart money seems to be following price movement. Trend strength got relatively weaker from the previous week. Possible support at 63.50. Wait for entry confirmation.
PX: Smart money just started flowing back in. Immediate resistance at 10.50 was also taken out this week after making a gap from the previous session.
Personal Disclosure
Just when you thought that the market will end up in green, the market still closed in red territory in Friday's session with - 36.91 points . The sell down from Tuesday proves the market this week is impossible to read. Hopefully, the market becomes more predictable by next week.
Just when I thought that the smoke has cleared, FLI still met strong selling pressure in Friday's session. However, it held right at its current support at 1.15 and bounced right off the bat. The only thing that would change its current trend is if it is sold down to 1.08 levels by Tuesday next week and I'll be ready to cut loss if that happens. My position in FLI closed 0.8% lower this week. 6-trading day in portfolio.
I am now confident and comfortable to what MPI did in Friday's session even though my position here closed 0.9% lower this week. This is probably the best time to get into position instead of rushing in last Wednesday. 3-trading day in portfolio.
MEG strongly held at its support at 1.88. It is probably the best price to get into position. However, it needs to close higher than 1.98 on Tuesday's session to confirm the uptrend. 1-trading day in comparison with DMC.
Surprisingly DMC held at its current levels leaving me with a measly 0.02% gain for the week! DMC needs to close above 21.60 to sustain its uptrend. 1-trading day in portfolio. Previous post should be 21.50 that left me with 1% gain.
I might look into other stocks that could be posing more possible upside in the shorter time frame i.e., 5 trading days.
It is rather hard to predict the market movement for next week as the information I have at hand seems incorrect. However, my data on DJIA seems alright so I am going to write my take on it. DJIA is more likely to go up further next week as to what it is showing in its chart. Futures are also up. Asia with the exception of (Hang Seng) and Europe is also up so I am hoping for a green field on our side next week. I am a little disappointed that we can't ride the waves when Monday comes as it is an official holiday(no trading). Hopefully DOW continues to move up the entire week.
Standing at 12.41% gain today of the target. I will not include the paper gains this time. 12.41% gain of the target is from AGI. Three weeks more to reach the target.
0.8% paper loss in FLI
0.9% paper loss in MPI
0.2% paper gain in DMC
Trade the plan: Watch out for cut loss exits, let the profits run. DON'T read anything other than the ticker when trading.
Just when I thought that the smoke has cleared, FLI still met strong selling pressure in Friday's session. However, it held right at its current support at 1.15 and bounced right off the bat. The only thing that would change its current trend is if it is sold down to 1.08 levels by Tuesday next week and I'll be ready to cut loss if that happens. My position in FLI closed 0.8% lower this week. 6-trading day in portfolio.
I am now confident and comfortable to what MPI did in Friday's session even though my position here closed 0.9% lower this week. This is probably the best time to get into position instead of rushing in last Wednesday. 3-trading day in portfolio.
MEG strongly held at its support at 1.88. It is probably the best price to get into position. However, it needs to close higher than 1.98 on Tuesday's session to confirm the uptrend. 1-trading day in comparison with DMC.
Surprisingly DMC held at its current levels leaving me with a measly 0.02% gain for the week! DMC needs to close above 21.60 to sustain its uptrend. 1-trading day in portfolio. Previous post should be 21.50 that left me with 1% gain.
I might look into other stocks that could be posing more possible upside in the shorter time frame i.e., 5 trading days.
It is rather hard to predict the market movement for next week as the information I have at hand seems incorrect. However, my data on DJIA seems alright so I am going to write my take on it. DJIA is more likely to go up further next week as to what it is showing in its chart. Futures are also up. Asia with the exception of (Hang Seng) and Europe is also up so I am hoping for a green field on our side next week. I am a little disappointed that we can't ride the waves when Monday comes as it is an official holiday(no trading). Hopefully DOW continues to move up the entire week.
Standing at 12.41% gain today of the target. I will not include the paper gains this time. 12.41% gain of the target is from AGI. Three weeks more to reach the target.
0.8% paper loss in FLI
0.9% paper loss in MPI
0.2% paper gain in DMC
Trade the plan: Watch out for cut loss exits, let the profits run. DON'T read anything other than the ticker when trading.