Big time whipsaw!
This is definitely not a market for the weak of hearts. The past four days, we have seen the PSEi go up and down more than 100 points. Market predictability is nearing impossibility and we might just be in for some more big volatility.
Today’s losses almost erased the 152 points we gained yesterday, bringing the index down to 4,879.42.
Still holding some positions though namely SECB and MPI. Also entered new position in ROCK.
|Position||Ave. Entry||Last||% Change||Days Held|
Today, we will also see the first trading day of Facebook (ticker:FB) with its IPO set at USD38.00. Let’s see how it will fare on its first day on NASDAQ. Could this actually be the next Google or Apple? Regardless, Mr. Zuckerberg will mostly likely make the top 10 richest in the Forbes’ list as he is estimated to be worth $10 Billion more with this IPO. By the way, Mark just turned 28 a few days ago. 🙂
>> God is good all the time 🙂