PSEi 4,312.89. -2.28 points. -0.05%.
The world awaits the new European Debt Summit. What can people expect? More of the same. It’s called inertia.
LC 1.7 Pesos. -2.3%. 1.245 billion Pesos value turnover.
LCB 1.88 Pesos. -1.57%. 300 million Pesos value turnover.
Greed is something most traders are guilty of at some point. My two unnecessary junk stock bets recently are prime examples. I’m glad to be rid of those two (which are not LC/LCB).
Today’s trading of LC (1.7-1.81) and LCB (1.86-1.99) spanned a wide price range. Closing near the day’s lows means almost 1.5 billion Pesos worth of trades are currently “ipit” aboard the Lolo Coasters.
My qualitative assessment of the trading situation hasn’t changed. For me to change my mind on these two, they’ve gotta break new highs and keep charging higher. Now whether or not that actually happens is anyone’s guess.
For the first time, today I actually searched for Gold Fields on the web. It’s certainly an interesting Company, and the downpayment it made shows it’s serious about the potential to do business here.
Right now, Lepanto, at these valuations, is all about potential. Maybe Gold Field goes all-in, or maybe they back out next year. I’m out the Lepanto trade at the moment (2 good trades on this uptrend this year), but this is just so interesting. After all the disclosure dramas have played out, will the fundamentals change as in PWR, or will this be another BHI?