After 8 days of continuous ascent, our index finally succumbed to profit taking. This coincides with DOW's triple digit correction last night.
Ideally from hereon, our market gets to establish a higher low relative to 3,828 (where this current rally started from). Once that higher low is set, we should see our index being able to better challenge the 4300 level.
For now, I'll just be waiting for the current correction to take its course before taking in new positions.
P.S. Wasn't able to update my blog for the past 1 month and half as I was swamped by my day job. Hopefully i'll be able to update this blog more regularly from hereon.
Showing posts with label DOW. Show all posts
Showing posts with label DOW. Show all posts
18 October 2011
10 August 2011
Tyro Trader's Analysis - Aug 10
DOW finally rebounded from way oversold conditions. Unfortunately, the damage has been done to our PSE. Looks like my previous bearish assumption was that assumed by the market; that we won't be seeing our previous high anytime soon.
All this volatility has resulted in stocks gapping down and gapping up left and right. Given the erratic behaviour of most stocks, I still find it difficult to ascertain patterns in their charts. For the aggressive trader, this erratic market can still be traded albeit just for quick punts. Just look for the gaps to be covered afterwhich, I would immediately get out. For the more conservative ones, you could just wait it out until the volatility subsides.
For those caught with positions from the previous highs and consolidations, you could use this rally as a chance to get out, hopefully with still some profits no matter how small, or to just cut your losses. At this point, its still too early to tell whether the rally we had today is already a reversal or just a dead cat bounce. Capital preservation should ideally be one's priority given the market condition that we currently have.
Good luck as always!
Disclaimer: My above analysis are just that: analysis. I am in not in anyway soliciting for you to buy or sell any security issue. The only person accountable for the trades you make would be yourself and I cannot be held liable in any way for the same
All this volatility has resulted in stocks gapping down and gapping up left and right. Given the erratic behaviour of most stocks, I still find it difficult to ascertain patterns in their charts. For the aggressive trader, this erratic market can still be traded albeit just for quick punts. Just look for the gaps to be covered afterwhich, I would immediately get out. For the more conservative ones, you could just wait it out until the volatility subsides.
For those caught with positions from the previous highs and consolidations, you could use this rally as a chance to get out, hopefully with still some profits no matter how small, or to just cut your losses. At this point, its still too early to tell whether the rally we had today is already a reversal or just a dead cat bounce. Capital preservation should ideally be one's priority given the market condition that we currently have.
Good luck as always!
Disclaimer: My above analysis are just that: analysis. I am in not in anyway soliciting for you to buy or sell any security issue. The only person accountable for the trades you make would be yourself and I cannot be held liable in any way for the same
03 August 2011
Tyro Trader's Analysis - Aug 3
With a backdrop of a huge 2.20% DOW decline last night combined with lingering overbought conditions pretty much set the stage for PSE's correction today. Given the depth of today's drop (PSE's biggest in 9 weeks), we might still see a continuation in decline. Next support would probably be near the 4450 recent low.
I find Robinsons Land Corporation's (RLC) behaviour today rather bullish. Notice that it opened way below its uptrend channel which initially signified a trendline break. It closed the day at the highs though which could mean that there were those who took advantage of the stock's low opening and bought it up. For now, we can assume that the uptrend is still intact and hopefully we will no longer see prices going below today's low.
Lopez Holding (LPZ) finally made its move which unfortunately is on the downside. Today, it broke below its symmetrical triangle and triggered simultaneous sell signals from MACD and DMI. I still have a bit of room left before it hits my cutloss price but once hit, execute without question. If its decline accelerates, we're looking at P5.55 as the next possible support.
Aboitiz Power (AP) also broke below its uptrend line. The bulls are struggling to keep it afloat though. Notice the long tails formed the past four days which suggests presence of willing buyers whenever prices do an intraday dip.
During times of correction (actually, make that at all times), ensure that you have your cutloss / trailing stops in place. That way, you'll have ammo again if and when the uptrend resumes.
Good luck with your trades!
All charts courtesy of citiseconline.
Disclaimer: My above analysis are just that: analysis. I am in not in anyway soliciting for you to buy or sell any security issue. The only person accountable for the trades you make would be yourself and I cannot be held liable in any way for the same.
I find Robinsons Land Corporation's (RLC) behaviour today rather bullish. Notice that it opened way below its uptrend channel which initially signified a trendline break. It closed the day at the highs though which could mean that there were those who took advantage of the stock's low opening and bought it up. For now, we can assume that the uptrend is still intact and hopefully we will no longer see prices going below today's low.
Lopez Holding (LPZ) finally made its move which unfortunately is on the downside. Today, it broke below its symmetrical triangle and triggered simultaneous sell signals from MACD and DMI. I still have a bit of room left before it hits my cutloss price but once hit, execute without question. If its decline accelerates, we're looking at P5.55 as the next possible support.
Aboitiz Power (AP) also broke below its uptrend line. The bulls are struggling to keep it afloat though. Notice the long tails formed the past four days which suggests presence of willing buyers whenever prices do an intraday dip.
During times of correction (actually, make that at all times), ensure that you have your cutloss / trailing stops in place. That way, you'll have ammo again if and when the uptrend resumes.
Good luck with your trades!
All charts courtesy of citiseconline.
Disclaimer: My above analysis are just that: analysis. I am in not in anyway soliciting for you to buy or sell any security issue. The only person accountable for the trades you make would be yourself and I cannot be held liable in any way for the same.
31 July 2011
Tyro Trader's Analysis - July 29
Our PSE is really in a world of its own. Almost all markets were down last Friday and yet our index was up. DOW also closed by almost another 100 points at the back of the lingering debt crisis. Aug 2 is the critial date for all markets since that's when the decision will be made whether or not to increase US' debt ceiling.
I noticed though that most of the stocks i've been following are technically heading towards the tail end of consolidation or are about to make their respective big moves. Could the Aug 2 decision actually be the trigger?
Semirara Mining (SCC) closed last Friday with a long tail (i.e. closing price was way above its lows) and in the process respected its uptrend line. Huge volume also signifies that alot of sellers were absorbed by willing buyers especially when it hit the P223 low. Note though that the DMI did set off a sell signal. As such, we will need to see a follow thru buying on Monday in order to negate the sell signal and confirm that P223 is the short term low. If indeed it does rally, P240 would be the next resistance.
Lopez Holdings (LPZ) proceeds to trade within the symmetrical triangle. Last Friday's movement actually hit the top and low end of the triangle's tightening apex. Big move continues to approach us. Just have your stops in place in case it goes south.
Robinsons Land Corp (RLC) continues to respect the uptrend line of its ascending triangle formation. Its just sitting a tad below its immediate resistance of P13.44 then followed by P14.00. We see the DMI also pointing opposite each other (refer to the green and yellow lines) which suggests that the uptrend will continue.
Aboitiz Power (AP) also continues with its own ascending triangle. We're also almost at the tip of the pattern with P33 being the critical price to break. If broken with volume, we could be looking at its 52 week high of P36.90 as the next resistance.
Good luck with your trades as always!
All charts courtesy of citiseconline.
Disclaimer: My above analysis are just that: analysis. I am in not in anyway soliciting for you to buy or sell any security issue. The only person accountable for the trades you make would be yourself and I cannot be held liable in any way for the same.
I noticed though that most of the stocks i've been following are technically heading towards the tail end of consolidation or are about to make their respective big moves. Could the Aug 2 decision actually be the trigger?
Semirara Mining (SCC) closed last Friday with a long tail (i.e. closing price was way above its lows) and in the process respected its uptrend line. Huge volume also signifies that alot of sellers were absorbed by willing buyers especially when it hit the P223 low. Note though that the DMI did set off a sell signal. As such, we will need to see a follow thru buying on Monday in order to negate the sell signal and confirm that P223 is the short term low. If indeed it does rally, P240 would be the next resistance.
Lopez Holdings (LPZ) proceeds to trade within the symmetrical triangle. Last Friday's movement actually hit the top and low end of the triangle's tightening apex. Big move continues to approach us. Just have your stops in place in case it goes south.
Robinsons Land Corp (RLC) continues to respect the uptrend line of its ascending triangle formation. Its just sitting a tad below its immediate resistance of P13.44 then followed by P14.00. We see the DMI also pointing opposite each other (refer to the green and yellow lines) which suggests that the uptrend will continue.
Aboitiz Power (AP) also continues with its own ascending triangle. We're also almost at the tip of the pattern with P33 being the critical price to break. If broken with volume, we could be looking at its 52 week high of P36.90 as the next resistance.
Good luck with your trades as always!
All charts courtesy of citiseconline.
Disclaimer: My above analysis are just that: analysis. I am in not in anyway soliciting for you to buy or sell any security issue. The only person accountable for the trades you make would be yourself and I cannot be held liable in any way for the same.
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