March 2011
30 posts
3/31 LND CMT :D
Still had momentum today. I mostly just watched the market and while I was tempted to take profits on some of my positions such as SCC and PNB, I’m glad I didn’t, for the moment. Still following my plan of letting these 2 run in my favor and just put a trailing stop (or sell when a reversal candle forms).
Finally CMT and LND had some legs today. I think they’re ready for higher...
3/30 TEL
Was nice to see the market up 100+ points for a change. Of course, this was mainly due to TEL which is on top of the gainers list today. It’s the first time I saw TEL up more than 10%, lol
I didn’t do anything but observe. I put up bids for DMC and was having second thoughts about re-adding my position on SCC (because the sell down was quite big) but 222.40 held up so no need to...
3/29 PNB! :)
My positions are looking great especially after today. Really happy about it.
I peeled off some of my PNB position at 52.60 or 20 centavos above my 2R profit target. I was expecting it to pop the 50-day MA as I mentioned here in this post. Luckily it did so today. There may be some overhead resistance at 55.0. I’m going to be re-adding to my positions on any pull backs.
CMT - Finally...
3/28 LND
Strong market today. The index closed above 3900 up 43 points on Php3.5 billion in volume.
Picked up some LND at 1.91, I’m playing for a bounce on the 30day moving average. From here it also looks like a nice risk/reward play.
My SCC and DMC positions are doing great. Posted an order at 37.30 for DMC but wasn’t hit. Just holding these 2 as they’re doing well for me right...
Week Notes
Some notes and items I should watch this week.
Financials:
MBT and PNB basing very well.
BDO looks like its flagging.
UBP nice chart, volume lacking. break of 60 is entry for me
Holdings:
AEV, no signs life yet
JGS, wait for nice risk/reward
DMC, be ready to cut if this does not close above hammer candle
AC - closed above 200 MA on strong volume. might be nice to watch, pull back...
3/25 EDC
Good day so far, strong market :)
Peeled off some of my SCC position today at 222 (which i bought yesterday at 216) which is my 1R. While I don’t want to sell for less than 2R, I was reminded by a friend that in this kind of market (consolidation), I should sell some on strength and so I did at my 1R target. Feels good to lock in some profits. I’m letting the rest go and will add to...
3/24 SCC
Interesting battle over at SCC today. As it was going down towards 214, I saw a lot of sellers at the 216 area. My plan was to either to buy at 209 (which is near moving average support) or buy when 216 is broken.
At one point there were 90,000+ shares offered at 216. It was taken out quickly, it went down again to 215 and change, people offered more shares at 216, it was taken out for a...
3/23 LR LR LR
Finally was able to execute my best trade this year. Sold some of my LR at 9.31 from 8.35 (+10.6% after taxes). The trade returned me 2.11 times what I risked after taxes. I left some shares on the table for more upside :) I will add back on the bounces.
DMC however is a trade that’s starting to go sour on me. It closed at 37.05 when I was supposed to be out at 38.20 (another 2x risk...
3/22 LR :)
Market was relatively flat but it was a good day for my portfolio as LR broke through 9 and closed at 9.05. In hindsight, it was good that I decided to re-enter LR at a higher price even if I got whipsawed earlier.
There were 1.5 million shares left unserved at the close for LR:
Beautiful.
And while that happened, I missed the action in BEL. Since these two move together anyway, and this...
3/21 Recap
LR stepped on the pedal towards 8.80 but succumbed to profit taking and closed lower at 8.23. I’m still holding my position on this.
DMC is flirting with my 3R stop, I’m thinking of exiting the trade already but I’ll just follow the plan. I want more upside! :)
CEB reported good earnings today (+112% bottomline). Increase was due to other income such as forex and mark to...
3/18 LR
The market rebounded well today on “huge” volume at Php5 billion. Was pretty happy with my positions although I’m considering throwing away ELI, APC, and RCB because I’m getting impatient with the three. However, when I do that, that’s usually the time when they do a freight train move.
I hopped back into LR today because of the nice price action and huge volume....
3/17 Nosedive
The market was on an across the board selling mode. Mostly down big from the opening until close. Advances/Declines numbers were awful right from the start.
DMC was still a strong performer today, broke through the 39 barrier and settled at 39.45 or 10 centavos away from the intraday high. I like it, I hope the momentum continues. I still haven’t sold my remaining gravy position....
3/16 DMC
The overall market was pretty resilient today. Again, I was expecting a worse scenario. One trading tip I read about is that you should rehearse in your head what you’re going to do under stressful situations so on the way to work I was imagining myself cutting loss on all of my positions.
Fortunately, it wasn’t so bad.
DMC was really strong today, closed at today’s high at...
CMT Post-mortem Trade
I bought CMT last March 7 because of the price action and the volume. I was patient and waited for the consolidation, entered at 1.40. I set a stop at intraday support at 1.34.
March 8, CMT went down to my stop and I got out. I remember this one going quickly down, I followed the plan and just cut clean. The next few days the stock ran up to 1.69.
Lesson learned:
When price moves to stop...
3/15 Recap
The market was doing well but unfortunately new bad news came in from Japan :(
The index made a complete u-turn. I cut loss on my LR position. Was hoping for a bounce towards the close but it didn’t come so I cut as planned at 7.40
Loss: Php1,300
I am still holding on to my stocks whose stops haven’t been hit. DMC was relatively strong today. I thought it was going to be an ELI...
3/14 Recap
I really feel bad for Japan right now. Bank of Japan responded quickly with a 12 Trillion Yen stimulus package to boost liquidity. I hope mother nature gives them time to rebuild and not give them another round of earthquakes and tsunamis.
I was expecting the market to go red at the opening, given the Japan overhang. But today’s session ended up better than expected. It gapped down early...
3/11 Gut Check
The market opened sharply down, beginning with a 67 point drop and a follow through to an 80 point massacre. Lots of negative news (US deficits, DOW performance, China deficit, etc.) caused a lot of emotional selling at the open.
Coming in to work, I knew I only had to one thing, and that is not to buy more but to manage my risk with my current positions. Based on the ticker, I thought that there...
