Archive for November, 2009
I know that many traders are jittery with our market going up and up without any major correction. The best thing we can do for the moment is to go with the flow.
The good news is, our current momentum will still continue to push us higher although an immediate resistance could be seen at 3125.
We just had our last Chart Analysis Forum for the year and from what we’ve seen, it looks like the PSEi still has a way to go before reaching a strong resistance area.
That’s the good news. The bad news is, everyone’s been expecting a correction, many are having second thoughts if they should continue to [...]
Some good news and bad news about our index. The bad news is that we broke our latest support line (the thick red line). The PSEi dropped to close below that line on Oct. 28, gapped down on Oct. 29. It has since not been able to rise above this line.
The good news is that [...]
The Reserve Bank of Australia (RBA) raised the cash rate to 3.5% on Monday last week, as expected by analysts. A few hours before the actual announcement, I thought that if true, the annoucement should obviously make the currency pair a buy, right? Right, but not on the very minute the announcement was made. It [...]
When: November 13, 2009 / 6:30pm to 9:30pm
Where: Brokers’ Lounge, PSE Ayala Tower, Ayala Avenue, Makati
IPVG and E-Games invites you to Absolute Traders’ Chart Analysis Forum:
This is where both the experienced/newbie traders and investors exchange notes, knowledge, and strategies to maximize returns by applying the tools of Technical Analysis, specifically, to the Stock Market.
Ok here’s the gameplan.
Similar to Round 2, PX is on unchartered waters — Making new highs accompanied by wild volume. In round 2, instead on selling on target at 8.8, I held on to my shares until a clear reversal. We can do the same but the problem I see is that in round 3, [...]