Archive for August, 2009
i’m not comfortable with the markets right now. it may go up some more but the risk is getting higher as well. for days now, ive been monitoring RSI of PSEI, and from an honest opinion, this rally is losing momentum. Divergence may result to a correction, whether time (consolidation) or price. I’m holding core stocks that i think are defensive to a market price corrections. caveat.
small fishes like us can be on top. This is all ilonggo investors averaging up on their CHIB core holdings. This is not to brag as we know we are little fishes. This is something to cherish that once in awhile in our small fishes lives, we’ve swim faster than the sharks.
Requested by a Local Brokerage House
Recommended to house and clients that PIP’s RSI is nearing overbought level. Resistance at 2.18, and a possible move is to take some profits on strength. House got lots of PIP accumulated way before then and even bought up yesterday at 1.86 and 2.10-2.12 yesterday. Strategy is to limit players, maintain a status quo and do a time correction for PIP. This will mellow down the RSI. Create a base on a comfortable level where we can buyback again. Perfect picture then see our target of 2.70 materialized this year. Caveat.
Weekly Chart of PAX
Sticky Post (August 24, 2009).
I made this sticky to remind me that technical analysis can be a powerful tool if correct and just pure crap if wrong.
500% return @ 17 if this analysis will hold true.