23 August 2011

30-30.

Very interesting.

The PSEi keeps going back to the middle of the trading channel.

Daily Closes by the PSEi:

  • August 1 – 4,550.53 (recent high)
  • August 2 – 4,531.23
  • August 4 – 4,501.53
  • August 5 – 4,437.55
  • August 8 – 4,331.24
  • August 9 – 4,157.03 (recent low)
  • August 10 – 4,290.14
  • August 11 – 4,311.02
  • August 12 – 4,321.73
  • August 15 – 4,332.63
  • August 16 – 4,372.70
  • August 17 – 4,340.27
  • August 18 – 4,372.70
  • August 19 – 4,339.90
  • August 22 – 4,291.11
  • August 23 – 4,375.39
Looks like some kind of sideways market doesn’t it?
Local stocks are not homogenously rangebound, however. LC (+7.27%), MA (+8.7%), PX (+1.8%), ORE (+5.87%), and BHI (-4.05%) are all near or pushing new highs. Definitely, especially for trend-followers, holding one or more of these 5 deserves consideration. Evaluate and decide for yourself whether you believe these uptrends will continue.

A 48.79 point drop followed by an 84.28 point gain? Goodbye 20-point daily moves. Looks like volatility is back.
Tails.
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