Swing Trader/Day Trader Thread

[cliffhanger]

this is the Swing Trader's or Day Trader's Thread...

please share your moves, thoughts, opinions, emotions on this thread...

[cliffhanger]

my 8th day as a Swing Trader
another interesting day..

even when the Dow Jones Industrial Average (DJIA) was down 1%, our Philippine Stock Index (PHISIX) managed to be up 0.78%. some bad news surfaced again about the problems with the european banks and the strengthening of the japanese yen..
http://online.wsj.com/article/BT-CO-201 ... 14975.html

and even at the same time with all this talk about a correction soon, PHISIX still managed to be up. makes me wonder if the PHISIX is finally its own. i dont know. feel free to give your analysis on this.

but my results today have been good.

Ayala Land (ALI) was a loser today, but probably because it must have been a forced closure yesterday by DBP-Daiwa who bought shares at 18.00.. then it opened today at 16.50, i missed it and was able to buy it at 17.18..Fair Value estimated by citisec at 19.00..

Manila Mining Corp. B (MAB) also is a loser with over 15M in volume.. but im staying away from mining stocks as of the moment..

ISM Communications Corp. (ISM) was a loser 97.7M worth of volume traded.. but im not very familiar with this stock and the specific businesses that they are involved in. it being a technology stock, id like to study them further before i make a move on them.

you can view my portfolio at:

www.pinoyswingtrader.com

[cliffhanger]

my 9th Day as a Swing Trader
PHISIX closed at 3902.56

what now???

well i still looked for stocks that went down today..so far this strategy has been working for me.. stocks that go down, will eventually go up.. well.....this is usually true for notable stocks anyways...

Boulevard Holdings (BHI) was a loser with a volume of 16M. but heres the thing, 16M was done with only 1 trade. please fill in the details on this.

Again, ISM Communications (ISM) was a loser with over 14.5M in volume and only 16 trades done. even with yesterdays loss they still couldn't rebound. i dont know when this will go up or why its been falling.

Philodril Corp. (OV) lost 7% with a volume of 23.2M with just 4 trades. an oil drilling corporation...you tell me...

other than that, i didnt notice any other stock that was going down today that was worth considering. everything was going up, riding the PHISIX wave.

i was able to sell my DMCI Holdings (DMC) at 25.60, which i bought last tuesday for 23.50. i sold it because according to the research of citisec its fair value is around 26.10 and tomorrow is going to be the first day of the long weekend ahead. im still very cautious about the correction that is expected to occur. there might be some news over the weekend that will trigger the correction.

i posted an offer for my Ayala Land (ALI) stocks for 18.70 during trading-at-last, but unfortunately there were no takers. i guess ill have to ride this off the weekend.

you can view my portfolio at:

http://www.pinoyswingtrader.com

[yeahbah]

Cool thread. Keep it up!

[cliffhanger]

thanks!

cant wait till the market opens, i think it will be a buying day this monday..

[cliffhanger]

My 10th Day as a Swing Trader
have you guys read gus cosio's blog? http://guscosio.wordpress.com

over the weekend, ive been really fishy about the market, if its on a bubble or if its the real thing.. but gus, on his latest post, just presented some fundamentals about how the market is doing now compared to where it was the last time it was in it's all time high, which was 2007.. his points are objective. basically he said that we have a lot of backup now compared to 2007.. but still, somehow theres this feeling inside of me that says that we are up for a correction. we might be on the uptrend, but i still feel like the market got ahead of itself..

nonetheless, back to the real time market as of today...

Seminara Mining (SCC) started low today coming from previous 139 to low at 137, then it jumped up to a high of 143.. would've been sweet to day trade on this stock..but i thought it would be too risky, its a mining company...

Manila Mining Corp. A (MA) lost 5% with a volume 344M with just 25 trades.. why does this always happen to mining companies?

same thing goes for Philodril (OV) lost 7% 136M in volume with just 22 trades.. whats happening?

Ayala Land (ALI) also took a bit of a correction today from previous day values of 18.70 to a low today at 18.14.. i dont really know who was responsible for buying ALI at 18.70, looks like it did unnaturally accelerate the stock up (maybe someone can shed some light on this?).. nonetheless, i think im going to stay away from buying this stock as of today. if it goes up to 18.70 im selling it.. or if it rebounds a bit tomorrow, im selling it at values that will be reported tomorrow.. anyways my average buy on this stock is still at 17.29, i dont mind waiting a bit..

Petron Corp. Preferred (PPREF) started as a considerable loser, but its actually the first time i heard of this stock.. who was buying it? you guys have any news on this stock?

you can view my portfolio at:

http://www.pinoyswingtrader.com

[cliffhanger]

My 11th Day as a Swing Trader
what a swing day.. was that because of President NoyNoy Aquino ringing the opening bell?

i was able to sell my Ayala Land (ALI) at a price of 18.32.. thank God for this. today it closed at 17.84, and its chart is looking to have a correction soon since it had a high of 18.70. they say target price for this will be around 19, but i am not really comfortable with holding this stock for now..

then i was looking at a whole lot of stocks to buy because of the swing..

at one point Metro Pacific Investments (MPI) was down to 3.77, but then it closed at 3.88...

i even put a bid on Aboitiz Power (AP) at 21.00 per share, but i wasnt able to catch it. right after i placed the bid, prices were going up to a high of 22.1, modified my order to 21.40, and still no takers, it finally closed 21.50. if its not for me, then its not for me.

Bank of the Philippine Islands (BPI) went to a low of 55.90 from a previous of 57.4. would've placed a bid on it. but then i reviewed it's chart. this stock has been overbought..

in fact, a lot of stocks have already been overbought. thats probably why there was a minor self-serving correction today. you have to follow the rules of supply and demand when nothing else in the news is happening.

speaking of charts, ive been scanning through most of the notable stocks and it looks like Chinabank's (CHIB) chart is looking good for a buying position.. today it got down to a low of 405 then to a high of 409 before finally closing to 406. but volume was only 57k. nonetheless, i will be watching this stock. i will probably buy it once it will post a -3% change.

of course, id have to mention the the other Usual Suspects in the market that post significant loses, high volume with only a number of trades (mainly Tech and Mining Stocks). i am still not touching these stocks.

MARCVENTURES Holdings (MARC) 31 trades 84M, changed -5%..

Oriental Petroleum & Mineral A and B (OPM OPMB) 117M volume combined with only a total of 24 trades...

but just before i gave up on posting moves today, i found a swing trading opportunity on one stock, which is RFM Corp. (RFM).. chart looks consistent trending up, with a percent change of -4%.. volume of 6M.. there business is also a good placement these days, being one of the strong players in the food and beverage industry. was able to buy it at 5000 shares 1.86.. finally applied what my advisers in this blog and different forums taught me which is to maximize the expenses incurred per trade due to commissions and taxes. in order to maximize it, gross amount has to be around 8k minimum. (thanks for the advice guys, please keep them coming).. lets see what happens with this one..

view my portfolio at:

http://www.pinoyswingtrader.com

[cliffhanger]

My 12th Day as a Swing Trader
with reference to http://guscosio.wordpress.com/ latest post, i think today was a profit taking day for most investors.. thus the effects on my holdings with RFM.. i got so caught up on this stock that i didnt even bother looking on other losers today (as if i had the money to invest some more).

and heres how the story goes...

Bought RFM Corp. at 1.84 down from 1.85 yesterday to lower my average buy on this stock. then it went further down to 1.80. so i bought more stocks at 1.82. i even had to sell my Aboitiz Power stocks just to buy more shares of RFM (Citisec valued AP at 21.5, so i felt ok at selling it at 21.35). but then it went further down to 1.78.

im really having second thoughts on the volume of RFM though. maybe this isnt much for a swing trader stock. but lets see what happens. will this continue tomorrow? i dont really know.. probably.. am i digging a hole on this one?

im honestly having doubts on my moves. maybe i should've bought more Metro Pacific Investments (MPI) shares? i just thought that i should put backup on my losing stock. but now, my portfolio really looks biased to RFM. if it gains tomorrow then i guess i have the chance to win big. if it loses, then i will lose big too. i guess this would be some test i have to go through.. hope for the best, prepare for the worse..

my portolio: http://www.pinoyswingtrader.com

[bulee]

I think your problem is that you do not have a trading plan, the same problem I had months ago.

What if RFM goes down to 1.60 in the next few days? Will you still average down? You sold your AP near 21.5 because COL said 21.5 is the Fair Value. The Concepcions are not happy with the price of their stock. They said RFM should be valued at 4. If RFM rises to 2 tomorrow, are you gonna take profits? Or are you gonna wait til its near 4?

Andito ka rin lang naman sa AT, attend ka na sa seminar nila sa may Shaw. 5 or 6 sessions yata yun.

They do not teach Swing Trading but I believe you will learn a lot of basics.

[harley]

agree. avoid averaging a losing game. your RFM is now 80% of your portfolio. IF that go against you, baka mawipe out na profits mo.

keep it up.