The market started in the doldrums except for the last hour of trading. I posted some "barat" (very cheap) bids for Philex (PX) and PhilWeb (WEB). As expected, it didn't hit. :( So I decided to raise my Good-till-Canceled (GTC) bid for PX to 7.3 towards the end of trading, but remain unmatched by the time of closing. I decided to cancel my order for WEB as it looks like it was "artificially" being bought up to 0.0525. PX looked to have confirmed the breakout last week with matching good volume, so hopefully I could still catch this boat. I switched my canceled WEB order to Paxys (PAX) at 2.46, which seems like to have formed a pennant pattern.
I'm still holding some Meralco (MER), which I bought at 145 last Friday because it's consolidating at it's highs (or seems like a flag pattern to me). MER is doing 153 today. Yipee! I'm still stuck though with some odd-lots. I'm looking to cut Anglo Philippine Holdings (APO) tomorrow.
Composition:
MER = 29%
PAX = 23%
APO = 7%
Odd-lot stocks = 4%
Portfolio invested: 63%
Cash: 37%
About Me
- Lester
- I'm a Christian who happens to be a CPA and doing active trading since 2003.
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8 comments:
wicked!!! mind blowing stock market >.< but this blog site might help the public though (wink wink)
Whoa! In over my head here, maybe during the off-peak hours you can explain what the heck your talking about or at least put a footnote or something hehe...
@kat: Thanks! Appreciate you commenting and helping me indirectly through some useful charting tools. ;)
@philos: Hey! It was 2:24AM already. That's why everything here was over your head. HAHAHA. Anyway, what do you want me to explain? The terms I used?
a
wow! you sound like one of those analysts from bloomberg :)
if you are willing, i would like to know your average annual ROI %.
I often wonder if I should just let professional portfolio managers handle my money through mutual funds or if i should do stock market trading myself.
i know a lot of gamblers who make a lot of money out of pure luck.
But you know what you are doing and have a system.
By posting your annual ROI on your profile,
not only would you give credence to your blog, but you would also help us who wonder
what we could realistically expect out of systematic stock market trading.
Kudos to you for doing this! I hope you get to help a lot of people.
@darkjedi: Thanks, but I'm just an ordinary Filipino trader. :) Normally I don't post my exact YTD ROI % since I don't want to sound boastful. Let's just say that, by God's grace, my YTD ROI % is higher than my benchmark, which is the PSEi. :)
Thanks for commenting! Appreciate it. Hopefully you'll continue your visit here, and we can learn from each other. :)
@Lester: Ok, if that's how you feel.
Nevertheless, the benchmark of equity mutual funds in the Philippines is also the PSEi, and they usually perform pretty much at par with that benchmark.
So does this mean that it would be better for us to just invest in those rather than do stock trading ourselves? By doing that we get nearly the same results without all the effort of day trading.
Of course if you routinely beat your benchmark (and all the mutual funds) by a mile, then it makes it worthwhile.
Oh well, thanks anyway. Yup, i'll visit your site from time to time. Keep up the good work!
@darkjedi: It depends on you if you want to experience the thrill of trading on your own. Aside from that, you can also trade some second or third tier stocks that big mutual fund companies avoid (trading those stocks can make or break you, if you know what I mean), and hone your technical analysis skills and trading systems. :) But don't get me wrong, I'm not against mutual funds. In fact, I have some exposures in them.
As to routinely beating the benchmark by a mile, I have to be honest that I'm still a student of the market. Some years I did beat; some I didn't (read: 2008). But of course, I'm keeping that as my goal always. :)
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