14 February 2012

Happy Valentine’s Day!

There seems to be some resistance just above the 4,800 level. Just this month, the PSEi has unsuccessfully challenged this level four times (4,790.04 Feb.2; 4,808.96 Feb.6; 4,805.49 Feb.8; and 4,802.03 Feb.13). You may want to double-check with other sources as Yahoo Finance and Citiseconline.com appear to differ on yesterday’s close. The point remains, if the numbers are accurate, that we are experiencing some kind of technical resistance.

Interestingly, 4 of the top 10 traded stocks today are non-index stocks (MA, GEO, NI, DIZ). Those that subscribe to “blue chip-basura cycle” theories may want to take note. I finally took the time to check their charts (A sell signal perhaps? Haha!). Wow, these 4 have been pretty persistent uptrends haven’t they? Are they basuras headed for a “parabolic pop”, or will they keep trading at these high volumes and bully their way into the PSEi? You may want to keep an eye on what Miko, Gus, and Spyfrat have to say about the “Fantastic Four.”

Here’s my two-cents. Check out the volume history of the 4 aforementioned stocks. MA, NI, and DIZ trading volumes appear to have cycled up and down a few times already. GEO’s recent volume history is different, it just shows this big recent spike, from which it hasn’t cycled down and up yet, if at all. I don’t know what to make of that. I simply observe it’s different than what you see in the other three.

Did you see the wink?

May all your trades be winners, and may your long-term trading profits be directed towards worthwhile endeavors!

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