PX (Philex Mining)

[yeahbah]

here's another look for egu's channel target

the ab=cd pattern

px1.png (122.88 KiB) Viewed 737 times

[lissa]

well to be honest, i think the local bourse
is overbought. The momentum is pretty
high-pitched, and very possible to turn
into overheating. Trade volume is, if not plateau-ing,
then thinning. Suspicious rise in credit-thirsty sectors
is always a cause for concern especially
when we are having a credit-caused downturn.
I surmise that the rise has something to do
with the tremendous amount of liquidity
in the local and global economy because
of the stimulus packages
pumped by governments.
The successive rate cuts by
central banks also sparked
some easy credit for
speculative playing. The thing with these developments
is when the effect of the short-term "jolts" wear out, we have
a rising inflation, anemic credit standing, and still
emaciated markets. Then we see a second phase of the downward
cycle, which COULD be worse than the downswing we experienced
since the collapse of Lehman Bros.
The practical side is if you have money at the bourse right now
I recommend sell at the most comfortable level you feel.
The drop-down is inevitable by the second sem of the CY 2009 up to 2010,
possibly 2011. Avoid financials and holdings like a plague.
They will fall like the London Bridge.
Mining and energy would be good since commodity price
is a good indicator for the global economic health.
But accumulate sparingly and cautiously.
I see the index shedding some 100 basis points or more
in the coming months.
They will be rise and fall, but the rise will not
offset the traction of depressing stock prices.

[yeahbah]

I agree that the local market is overbought and may correct any time soon. The rise in prices could be caused by anything, could be caused by the things you've stated, it could be just plain old "supply and demand" at work, It could be manipulators taking advantage of the trend, it could be anything. Whatever it is, we can't deny that the market is on a short term up trend. Unless all support lines are broken, I would remain on the lookout for buying opportunities.

[yeahbah]

What do you think of this trade?

px051109.png

This trade will be closed today.

[tarantrader]

chart update

if PX continues to rise without correction, I see extreme targets between 8 and 8.4. Control your greed.

I will still bail out at 7.5.

goodluck!

px.png

Anong control your greed? Moderate your greed!

[yeahbah]

potatoe, potatoh

[jyren]

hmmm. . .

is there a thing for discussion today?

6.4

[jyren]

ic 25% stock div...

thats why

[yeahbah]

tingnan nga natin kung lalagpas pa ng 6.8 ito.

From my PX article:

If the trend continues, PX will obviously head higher. I see extreme targets between 8 and 8.4.

current price at 6.7 is 8.4 without stock div. careful careful.

px.png (117.06 KiB) Viewed 584 times

[yeahbah]

bangis ng PX binastos ang 314%. target ko for the year tatamaan yata in a few days. If you are looking to buy PX, be patient. Hindi pwedeng walang pullback.