Stock Pick Oct. 10, 2008
Posted by Bonner Dytoc
Thursday, October 9, 2008 22:35
Thursday, October 9, 2008 22:35
Posted in category PSE Stock Picks, Philippine Stock Exchange
No Comments
Oil OVerboard
I thought everything including the kitchen sink was flying out the window while the market disintegrates. How wrong I was after I saw a key reversal day by OV on Tuesday.
A bullish outside day with heavy volume presented itself to signal traders that there could be an opportunity despite the meltdown. Probably a quick 3 to 5% if we’re fast on the trigger and the market cooperates. Just remember to keep a tight stop on this if you can’t handle the volatility.
People, start your engines.
Recommendation: Buy
Trigger buy: 0.025
Cut loss: 0.020
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