SECB and BDO – Darvas Box
BPI – Trying
MBT – Laggard
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. :)