7 March 2012
Overnight, most world stock indices were down about 1.5% to 2%. a lot of times, the Philippine stock market is slightly slower when markets move in unison.
4,967.39 x 2% = 99.35
4,967.39 x 1.5% = 74.51
A drop of around 50 to 75 points is probably in the books for today. This kind of thinking is not trend-following at all, but is quite fun to do. I don’t think it helps, or should be done by trend-followers. It’s a distraction from one’s core system. But an entertaining one at that!
Market predictions are fine for entertainment, but are unnecessary to produce trading profits. (They’re still a lot of fun!)