Here is my take.
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| Fig. 1 PSEi Daily courtesy of COLFinancial |
Daily indicates pullback reaction because of overbought levels. Expect continued selling until early next week.
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| Fig. 2 PSEi Weekly courtesy of COLFinancial |
Weekly shows resistance at 50 SMA but MACD still rising. RSI however pointing down. The change in hands form sellers to buyers may give hint that market is bullish. Correction is needed in order for market to push itself anew 6600 level.
--> Good sell on LTG when it was at 19ish, it is today down big time to 18.46...
-->B2 Gold closed at 3.33, I hate how MACD looks like, I wish the Golden Cross will peak to 5.00!
--> COL offers seminar to Filipino investors.
I wondered why ATLAS Mining is there, a colleague of mine sent me this: SM diversifies to mining; Sy holding company invests $142.2M in Atlas (antagal na pala, 2011)
--> I renewed my driver's license this morning. The process was fast and smooth. No drug test, no long line. Total cost was around 500 and 75 was for late renewal. Also, I found out that you could renew your license strictly 2 months before expiring date. I was done in just 30 mins. Another thing, the sleeve plastic case costs a mind boggling 35 pesos, please take note. I will just reuse my old one.
--> San Mig Coffee's first game and first win last night. Bench provided needed lift in order to limit starters leg who were still tired from last conference's finals. Ian Sangalang proved to be a good fit on Tim Cone's triangle. He's such a good passer and he's offensive skill set can be argued to Slaughter's. It was a good game capped by Melton's reverse dunk.
--> Spurs 48-16. Aggressive defense and good ball rotation. Kawhi Leonard has the most minutes, I think he's now their primary lock down defender after Bruce Bowen. Last 18 games before playoffs. Dallas Mavericks should be a good #8 seed if ever Spurs can get top seed. I prefer these veterans over the young and uptempo style of Phoenix Suns. Let's preserve those legs.
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