ITA: 28 May 2012 | Approaching a Crossroad

Approaching a crossroad.

Wasn’t able to write for a couple of days but I should say that not much has changed until perhaps today.

Market managed to eke out another 26 point gain but on yet thin volume. Volatility has gone down. We are still awaiting the captain who will give direction to this sail-less market. I should say, however, that we are nearing bigger movements in the next coming days. PSEi, as of now, is trying to hold above 4900 and attempting to once again challenge the 5000 mark. Either way, expect big movements when support or resistance breaks.

Cashed-in a winning trade in SECB today. Decided to lock in profits and was able to sell during a quick spurt. 🙂 Stock closed back at 134.5. Will again look to buy the dips of this stock.

Position Ave. Entry Exit % Change Days Held
SECB 126 138 9.52 (not bad) 13

Also observing SCC for a number of days already. Stock is ripe for a rebound. It has already reached extreme oversold conditions (RSI 14d) and has been battered hard the past week or so. Today, however, SCC showed some signs of life recovering from early losses to close at its high. Volume is not that convincingly though. Looking to add positions when continued strength is observed. Target entry is 221.

>> God is good all the time 🙂

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