PSE closed strong today. Although this can be partially attributed to TEL going ex-cash tomorrow thus lots of buyers scooping up shares in order to be entitled to the divs. Nonetheless, TEL along with some blues closed at their highs. This enabled our index to come knocking on the short term downtrendline. DMI looks encouraging as we seem to be gathering some upward momentum. Hopefully this run will enable our index to move back within the 6 month uptrend line. Notice as well that alot of basura stocks (i.e.
BHI /
BSC /
WPI /
UNI /
ZHI) closed at their lows while some even broke below their short term support lines. Are all these signs that rotational play is finally going back to blue chips?
For the past few days all I've been doing are quick trades in basuras and I also used only a portion of my capital just to mitigate my risk. Managed some gains in
BSC,
WPI,
ZHI while had to quickly cutloss in
UNI. Honestly, I still prefer trading more stable and predictable blues and second liners. Less exciting than basuras but less stressful as well. C'mon PSE lets get back within the uptrend line!
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