Screenshots c/o Firstmetrosec.
Today marked one or probably the highest single day volume in PSEi history. Thanks to MSCI rebalancing. I noticed main actor is csuisse and pepi dumping all BPI and MBT to buy URC, ICT and SMC.
As a trend follower myself, I would have done what they are doing. But at this point, I am starting to get confused as the volume registered high which may be a sign of danger. (High volume signals distribution in an uptrend)
PSEi registered 14.93B pesos turnover! around 70% of these were only in URC, BPI, MBT, ICT, SMC.
During pre-close, I was surprised to see the foreigners forced URC, ICT, SMC to close lower. However, the bid side was pretty heavy! So what’s the real thing? Is this a shakeout or what?
I didn’t monitor MBT and BPI as I didn’t have them in my portfolio.
No trade plans were executed today. ICT stops 56.25 and 55.45 were hit but I didn’t sell as I remember the last time that Daiwa forced issues to close lower, they gapped up the next day.
I’ll be in Sagada, Mt. Province til Saturday! I’ll monitor my portfolio on my mobile phone. :)
LCB (initial position)
B: on breakout. watch the tape! note to self: this is a pennant – prone to false breakout!
P: Max 50k shares – 1% risk. Start with 25k shares for .50% risk.
Reading was correct to range at .07 volatility (1.48-1.55)
Current position 65k shares is now raised to breakeven. Risk free!
For new position: (flag)
B: 1.56-1.57 (watch the tape)
Position: Max 60k shares for 1% risk. Start with 30k for .5% risk.
If this moved according to plan, scrap the EDC trade idea. (Focus on relative strength!)
4227.88. Just when everyone was expecting a green day, Ms. market surprised us yet again with a -33.71 pts or -0.80%. US Futures was even up 140+ pts. The reason? Slower than expected 3Q GDP growth. Non-sense funnymentals.
Most stocks in my portfolio were unchanged, ICT, LC, MAB, BEL, LR – a sign of indecision.
EDC closed at 6 and I haven’t bought in yet.
SMC opened at 128. low 124.20. closed 125.70 (-1.8%). Value turnover of 600m! Is there a price war going on in here?
MIC was taken care of the triad to close 6.71%! woot!
Christmas Wishlist: New Balance Minimus Trail 10!
Woke up and drove early to the office. Friend asked what I think of the market today. I said, probably flat to down for the first 3 hours and up probably the last hour. I miraculously got it right! :) Did nothing today but watched the tape. AAI went to the floor very fast – that was a first time I saw one.
EDC is starting to get convincing again closed 5.96. A break out the 6 peso round number resistance might still be a good entry.
Reminder to self re EDC: Only enter a trade after the action of the market confirms your opinion and then enter promptly.
Some trades that I should have done recently, URC and BEL – for the simple reason they bounced off their round number pivot points.
Do not trade every day of every year. -Jesse Livermore
Thanksgiving. Most foreign traders are out today to celebrate with their families — expected low volume day.
Didn’t execute EDC/FPH trade plans today. They didn’t move as I expected.
BEL respected the psycho support at 4 so I’m holding.
IP was marvelous. I was supposed to buy when it broke 2. My mistake. L:(
^PSEi didn’t bother to respect 4245. Next on my support is 4215.
Portfolio moved -1.18%. The only green stock in my port today is URC. Good to see accumulation above 50 pesos.
Tomorrow’s a new game.
Earlier signals were ignored. 2x Volatility support respected. low volume correction then increasing volume.
Buy: 5.90 or market
Risk: .21 (low risk)
Position: max of 40,000 shares
Didn’t notice this one today. Filter just signaled a BUY. Volume is good. 57 bid side is supported. Let’s see tomorrow.
Buy: As close to 57 or market.
Position: Max of 4,000 shares.