Trade Notes

What happened today?

• PSEi closed at 6,525.95 pts (-54.76; 0.83%) 
• MBT - slight gain due to release of stock dividend disclosure
• AC - the usual float and sink just above and below sea level
• BDO - 
• PX - not much action, will react mainly on movement of commodity prices
• Observations: 
• SUN is top gainer (3rd straight day) and RPL is top loser 
• MPI closed at 5.19, good decision to sell yesterday plus according to COLFinancial Morning Notes, they changed their rating to HOLD
• Notes: 
• Sold ALI at 29.45, profit better than MPI yesterday, reason for selling, please see chart below
• Watchlist:
• MBT - What if I buy my remaining money to add more MBT and just wait for the 30% stock divi?
• SM - What if I buy my remaining money to SM while it's on 800ish level? 
• EW, FPH, IRC, LRI, PNB
• News: 
• Villar calls for Daang Hari rebidding if Ayala insists on mall 
• Ayala-Britany row stalls Daang Hari Project (note: a PPP Project of Pnoy)
• Troubled Blackberry eyes sale, other options
• Others: 
• Chinese zoo under fire for disguising "hairy dog" as lion (winner!)
• No such words as 'salungki', 'salungso experts say (pusa! this made my day! sinong teacher mo brader?)

Fig. 1 ALI Stock Chart courtesy of COLFinancial

It felt so good selling my 2 picks with profit. My purpose of trying the effectiveness of Technical Indicators has been achieved. One area to improve is to determine when to enter as I was 2 days late and could have bought earlier. This week's activity gave me more confidence on what I am doing and a push to do more research. I am not really emotional on buying and selling as my goal is to focus on what the indicators have to offer. Practice practice lang pag may time.

I have limited trading next week as I am going back onsite. But it will not prevent me from being a more educated trader.

Cheers!

Lessons Learned: 

1. Learning = Reading + Experience + Mistakes
2. How trading is similar to geology: 

• Show an outcrop to 100 geologists and you will get 100 interpretations.
• Show a stock chart to 100 traders and you will get 100 interpretations too.

Links:
Stock Charts
Inquirer Business 
Business Mirror