Archive for August, 2009
Click here for the original trade idea
Long Term Trade
Alright, we’ve waited long enough for this long term trade to open.
Potential AB=CD Pattern
Bearish trend line break
Reversed from 61.8% Fibonacci Retracement. Projected target at 161.8% (80)
Buy: 43 / Market
Short Term Trade
Retracement of swing 41.5 – 46
Retracement of 31 – 47.5
Buy: 45 / Market
Target: 48.5 [...]
The PSEi has been turned back the last week and left many disappointed. The downturn was brought about by the drop of some key index issues, which some have already seen was quite hard to sustain.
If the index will correct further, we could see this go down to the 2600 level. Hopefully that wouldn’t happen. [...]
The PSEi seems to be consolidating at current levels as the whole market is looking for some kind of justification to push itself higher.
The nearest level that I think will serve as a resistance of sorts is around 2890. This is practically the same level of resistance met by the index back in May 2009. [...]
Here’s our list for this week.
No endorsements or guarantees are made here. This is only our opinion.
Our stock picks for the week are mostly updates of recent picks which haven’t broken out yet. We leave the following for your discernment:
Remember, nothing is guaranteed as these are our own opinion only.
It was a rainy and windy night last Aug. 6 when the Absolute Traders community got together again during a Chart Analysis Forum, sponsored by AgriNurture Inc., at Barbara’s Orchidarium along Finance Road in Manila. Its been awhile since AT members last saw each other and the weather did not dampen the spirit and enthusiasm [...]
On June 25th, I issued a buy recommendation for PX and on the same day, the trade opened at 6.9. After a few days, it steadily climbed, reaching a high of 7.9. At that point, I got into a dilemma of whether to stay on target at 8.4 or just let my profits run. If [...]
The correction that we were expecting came like a thief in the night. Well, not exactly. But it came just the same.
As usual, when the market corrected, many were groaning as their holdings were taking a hit. But we have to look at this from a bigger perspective. The correction is actually needed to push [...]
It has been one exciting week for local stock market players! There were many stocks that made trading quite interesting this past week. On the forefront is definitely MER. After it hit a multi-year high of 302.50, it dropped to as low as 190 the next day. If that isn’t exciting, I don’t know what [...]
Some of our earlier picks have either broken out or have yet to break out but we add to the growing list of stocks that we think have potential, and one stock that looks to be in danger.
Downside target: 3.50
We do not guarantee anything. These are our [...]