News / Events
It was back to the moon in the Queen City of the South as Absolute Traders revisited Mooon Café in Guadalupe, Cebu City last August 22 to 24 for its 5th CAF session and Chart Practice Workshop. In attendance were Absolute Traders President Gwen Nava and Chief Instructor Danny Go who graciously traveled south to join the growing AT Cebu community for the sessions. Also present were members of the 6th and latest batch of AT-Cebu who were completing their Basic Technical Analysis Seminar.
It was an evening of firsts as the Chart Practice Workshop was first held in Cebu. The workshop was aimed at enhancing and developing skills of previous Cebu batch members in plotting trend lines and identifying area patterns and indicators. Everyone present agreed that the workshop would be a worthy addition to future Chart Analysis Forums.
Gwen, who attended the Cebu CAF for the first time, supervised the workshop. As usual, Danny led the participants in taking a look at US and local charts starting with the “big picture” before moving on to industry sectors and onto specific stocks.
In the US, the assessment was that the DJIA is showing no clear sign of a reversal from a downtrend it has been experiencing. The health of the US economy in general is still uncertain.
In the local market, the opinion was that the double top that formed in 2007 has still to reach its minimum price target. This is not encouraging for investors and traders in the local bourse. However, a look at the mining sector and specifically certain mining stocks showed a gleam of hope.
Besides gaining a better appreciation of current market trends, the well-attended Cebu CAF was a chance for the AT Cebu community members to catch up with old friends and make new ones.
Nonetheless, those who attended the event noticed that the festive and celebratory mood that typified the bull market days was obviously missing. Because of the current state of the market, there were some who must have felt that now is not the time to rejoice.
But many realized that now is the time to focus instead of being afraid. From Gwen and Danny, the community learned that actually, now is the time to sharpen our technical skills to take full advantage of the next trends that are coming. Another way of looking at it is that the market has given us an opportunity to polish our skills to take advantage of every tick when the tide does turn.
Welcome to Absolute Traders Cebu Batch 6!
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