August 17 to 19 trades

I cut many of my holdings to taper off the massacre in the market. I cut SINO at 0.245, CYBR at 0.71, half of my CMT at 0.97 (which proved to be a mistake), and APC at 0.38. Technically, it seems that SINO and APC both broke down from its support that's why I got rid of them.

Yesterday, I made a boo-boo in Benpres Holdings (BPC). I tried to position first at the bid price of 3.05 while market price was doing 3.10. I was being too conservative! So I missed this ride, only to get it at the ask price of 3.35, which was a resistance. I feared that this will not pierce this resistance, so I cut BPC a fluctuation lower. I was just being jittery in this kind of market. Man, this proved me wrong! BPC pierced this resistance on very good volume and I ended up buying this stock up at 3.55! Wakhonga! Good thing that the momentum was there till today. I sold my BPC at 3.85 today. I should be content. :) Rumor mill says that BPC will sell it's stake in Digitel (DGTL). DGTL flew today as well! Hmm...

I sold the rest of my CMT at 1.06 at a minuscule profit as this was it's previous high. When CMT was trading in the range of 0.93-0.94 yesterday, which was the previous breakout point, now turned support, I hesitated to average down my holdings, thinking that I might just overexpose myself. So I ignored it. Instead I placed my bets on PAX again at 3.375 average. Stupid me! We know what happened to PAX and CMT today. :( I ended up buying the CMT I sold at 1.06 at a higher price of 1.12! My premise is that it broke 1.06 today convincingly. Target of 1.40 is still intact based on the technical analysis on my previous post below.

Market is still jittery. I viewed what happened to both PSEi and Dow today and yesterday, respectively, as a "dead-cat-bounce." Anyway, confirmation tonight and tomorrow is still needed to prove my theory correct. If it happens that our market goes down lower tomorrow, I might add some more CMT near 1.06. Let's see. Cement stocks are in the groove lately. Election play perhaps? :)

Portfolio invested: 44%
Cash: 56%