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%

August 12 to 14 trades

Some blue chips were beaten black and blue, and second tiers and "basuras" (third liners) were set free! My hunch is that "basuras" will take the lime light this week.

PSEi Daily:


PSEi was showing some weakness lately especially on blue chips. Measured move to 2,900 resistance seems to have respected. MACD impending crossover may trigger more selling pressures next week.

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I was experiencing some difficulties with my online trading platform as, probably, it got affected as well by the South East Asia-wide internet problem. So it would be prudent to cash in some gains, if any. But I bought a minuscule Geograce Resources (GEO) again after a long long time at 0.81 on Wednesday as it looked like a valid breakout from 0.79. Volume was exceptional as well. But on the hindsight, it was a whipsaw. It closed 0.79 on Friday. Is it mimicking TUNA after it breaks out of 1.60 then crashing to 1.50 a few days after? Uh oh. :(

GEO Daily:


I cut all my IP at 2.4 as it was just moving sideways. I also sold all my GMA7 at a profit at 7.3 (TOO EARLY!), because that was its previous high. I panicked to sell on this one because I don't want to be caught again by GMA7's one-day-wonder moves. Then a barrage of buying by Regis and BDO elevated the price to close at a day high of 7.8, but it crashed back down to 7.4 on Friday! Anyway, I'm happy with the profits; grateful of God's grace. :)

I sold all my PAX as well at 3.68 average for a profit after seeing it having difficulty going up past 3.75-3.80. :) Short-term players were going in out of this stock for now. I'll get back on this one again near support.

PAX Daily:


Last Friday, I was seeing funds exiting blue chips and rotating to some second liners and basuras. I sold CYBR at 0.72 because it was consolidating at it's lows and without any meaningful accumulation. It did go down to 0.66 (previous support) and some big buying ensued. I managed to ride again on this one, but at 0.73 already (a bit late though). But it still closed up strongly at its high of 0.75 showing a strong reversal. It looks like it will test 0.80's again come this week. :)

CYBR Daily:


I got into some minuscule basuras SINO and APC Group (APC) at 0.28 and 0.42, respectively. Big volumes were traded last Friday. I wonder what were these up to. APC is forming beautifully an inverse head and shoulders formation with potential target of 0.70. :)

APC Daily:


I got into South East Asia Cement (CMT) as well at 1.04 after it broke out of the 1.00 heavy resistance with convincing volume. Charts looks to point to the area of 1.40-ish as its target. :)

CMT Daily:


Composition:
CMT = 16%
GEO = 8%
CYBR = 6%
SINO = 3%
APC = 3%
Odd-lots = 2%

Portfolio invested: 38%
Cash: 62%

Frustrating trades

Yesterday and today are very frustrating for me. I made stupid trades, which cost me about 2% of my portfolio. :( I knew it! I shouldn't go against my instincts. The market did correct these two days.

I sold my remaining AC at 307.50 after it gapped down because of Globe Telecom's (GLO) disappointing dividends. I should have sold sooner! :( Sigh. Greediness is killing me. :(

I bought some Atlas Mining (AT) yesterday at 7.8 after it broke out of 7.6 with good volume. Apparently, due to negative market sentiments, this breakout didn't budge so much as of today. :(

I bought (and got whipsawed badly) some IPVG (IP) at 2.40 due to breakout. But heavy volume sellers marred the rise. I'm so frustrated that I didn't cut this sooner. :(

I noticed PX was the play today. But instead of riding it, I chose to buy a minuscule CYBR instead at 0.70. Arrgggh!

I'm so frustrated! I'm getting emotional with my trades. Emotions would kill me. On the hindsight, I think I even over-positioned myself despite having this kind of market. :(

Composition:
EDC = 28%
GMA7 = 19%
AT = 16%
IP = 11%
CYBR = 6%
Odd-lots = 3%

Cash: 17%

August 3 and 4 trades

Our market continued to trek up towards the 2,900 resistance level. The mining sector, particularly, Manila Mining Corp. (MA/B) and LC/B, led the rally last Monday, but its strength didn't spill over today. MA/B and LC/B opened higher but closed unchanged and lower, respectively.

PSEi Daily:


We're still within the mid-term up trend channel (red lines), but we're now nearing the "former" up trend channel support line now had become a resistance (blue lines), which is incidentally around the 2,900 area. If we're going to use the "measured move," we can see that it points also to the area of 2,900. MACD and RSI are also testing resistance levels.

PSEi Weekly:


On a bigger picture, strong resistance is seen at 3,000, but we need to be wary as well of 2,900 (encircled). Inverse head and shoulders pattern is still intact as previously mentioned.

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As market continued to trek up, I'm lightening up my exposure just in case it would turn sour. I got some MA shares last Monday at 0.024 as I saw strength in it (it went ceiling then) but sold it today at 0.025 for a measly profit. :( I was caught in heavy traffic this morning so I arrived at the office a bit late. So, I missed the high of 0.028. :( But anyway, at least it's still a profit. For those who don't know yet, MVP also announced that he's considering MA as well aside from LC. I got some feedback from various brokers that MA is a better play than LC due to the fact that the MA's mine site is adjacent to Philex's (PX) Padcal site. Better economy for PX perhaps?

I also sold half of my FLI yesterday at 0.99 as I'm seeing toppish conditions. It was confirmed today as it formed a dark cloud cover candlestick pattern (bearish). See image below:

We'll see the confirmation on Thursday to validate this short term reversal. I sold all the rest of FLI today at 1.00. :)

I also got rid of WEB at 0.055 on Monday for 5% profit after holding it for quite some time now. I decided to sell this because it was not moving much, and decided to free up some capital tied up to this so that I can buy some other stronger issues. Efficiency-wise, it was not a very profitable trade because of the length of time I held on to this, and for only a 5% profit. And, to add insult to my injury, it just shot up today and closed at 0.06! Oh man! :(

I sold half of my AC today as well at 325 for a decent 8% profit. :) It seems to have respected the neckline at 320 today (opened 325, high 327.5, but closed at its low at 320) - classic bearish meeting lines (not good). That means, in an up trend, the price opened higher than yesterday's price, but closed unchanged versus yesterday's closing. I'll hold the rest of my AC for now with mental stop set at the break of 320.

I cut all my CYBR at 0.70 today. I learned once again not to be greedy. I have already set my sights to sell this one last week at 0.80's, but I didn't. The Lord rebuked me. :( I also sold SINO at cost.

I transferred much of my sales today to acquire a truckload of Energy Development Corp. (EDC) at 4.75. It seems to me that it broke out of its flag formation with a target price in the area of 5.3. One major obstacle right now is the major resistance at 5.00.

EDC daily:


Composition:
EDC = 28%
GMA7 = 19%
AC = 13%
Odd-lots = 3%

Portfolio invested: 63%
Cash: 37%