Tag: LC

PSEi breaks support; PXP, LC slide

Posted by AiDz – September 15, 2011

The PSE Index – 14 Sept 2011

The PSEi dropped further on Wednesday by 0.79% closing at 4,258.86 or losing 34.05 points. Market breadth was negative with losers 113 vs. 34 gainers, 45 stocks unchanged.

Based from its chart, the index broke its key support level at 4,291. If it continues to drop below to drop tomorrow, we may be expecting the index to touch the 200 day MA again at around 4,169.

But if Greece defaults, which I hope not, then prepare for another market crash, 1929 style. :D

PSEi-14Sept2011

 

PXP, Closing Black Marubozu

Philex Petroleum Corp, PXP, as I posted yesterday did actually dropped tremendously today after that doji formation. It now formed a “closing black marubozu” candlestick at P7.50/share or –24.70%. The closing black marubozu is a tall black candlestick with an upper shadow but no lower one. This formation may show either the continuation of a downtrend or a final sell off attempt before an uptrend. In my opinion, PXP is a buy recommendation… at 1.20/share. :P

 

PXP-14Sept2011

 

Did LC, already hit the bottom?

After being delisted from the index on Monday, Lepanto Consolidated Mining, LC, today closed at a disappointing 1.29 (-5.15%), it touched the 50D moving average, which is an important indicator for mid-long term investors.

The question is, did LC already hit the bottom and should we start buying in? Or should we wait until P1.22, a 61.8% Fibonacci retracement level before buying again?

LC-14Sept2011

Here are some fundamental news that might help you decide.

South African Stocks Climb For a Second Day, Led Gold Fields, Holdsport

S African mining firm plans to invest $800 M in Phl

Philippines welcome miners but not polluters – Forbes.com

 

Personal Disclosure, PD, I don’t have any LC nor PXP shares at the moment. :)

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PSEi Breaks 4500 Level; Mining Stocks Lead

Posted by AiDz – July 21, 2011

The PSEi – 20 July 2011

The Philippine Stock Exchange Index, PSEi, surged 21.39 points to 4,507.04, a new record high, with an intraday high of 4515.77 points. While the all-shares was up by 20.36 points or 0.66 % to 3,124.09.

Leading the most active stocks from the Mining and Oil sector were Lepanto Consolidated Mining A (LC), Manila Mining Corp (MA), Atlas Consolidated Mining (AT), LCB, Semirara Mining Corp (SCC). Banco de Oro Unibank, BDO and Energy Development Corp, EDC were also among the top favorites of foreign buyers. On the other hand, PWR and GERI led the losers shedding 15.24% and 7.72% respectively.

“The stock market’s resilience has echoed the positive sentiment in Asian and US shares. We continue to be optimistic that positive economic fundamentals and favorable corporate earnings towards the end of the year will further boost market confidence,” PSE President and Chief Executive Officer Hans B. Sicat said. –GMANews.tv

For the first time in the Philippine stock market’s history, the PSEi broke the 4,500 psychological resistance level after less than a year surpassing 4,400 level. The next hurdle will be at 4,600 and I’m, as always, optimistic that it will be breached this year. 

PSEi- 20July2011

What I’m anticipating for is the outcome of the deal between PLDT/TEL and DGTL. If the this pushes through within the next few months, TEL, the stock with the heaviest weight (13.53%) on the index, will definitely push the PSEi higher as it did on March 30 2011. This is only my insight, better be ready when it happens. ;)

 

Basura Play

The day/retail/momentum traders are now back on playing the “basura,” penny, third liner stocks. JTH, ZHI, UNI were among the top gainers. It seems like ZHI and BHI are poised to continue its upward momentum today.

Newbies beware, limit your risk if you’re playing these speculative stocks. Preservation of capital is the utmost importance if you want to stay alive on the stock market. I know that making quick bucks is addicting but these are not the stocks that you should be playing if you’re trying to learn the art of trading.      

6424631-caution-sign

Here’s an excerpt, worth sharing, from one of the most respected and seasoned trader in the Philippines, Hernan Segovia aka Spyfrat.

“When you start hoping and thinking of getting even or thinking of revenge about speculative stocks and all you can think of is recouping your losses by gambling still. that’s the time you need to quit. what you have become is a compulsive gambler and later on all your family’s savings will turn to ash. you will start losing sleep, start to lie to your wife/husband (if married) and family. your emotional wellness will be in jeopardy. pls help me help you. pls dont be like me many years ago. if you’re a newbie QUIT PLAYING BASURA!!!!!!” –Spyfrat’s Call

Good luck traders!

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PSEi, PWR 3rd Day; Gold in LC

Posted by AiDz – July 14, 2011

The PSE Index – 13 July 2011

The PSEi rebounded strongly from a downturn as it gained 53.91 points or +1.24% to close at 4,404.00 after 5 days from hitting an all time high.

The upswing was pushed with the help of the Mining and Oil sector gaining 4.41%, led by ORE, APX, LC, and MA.

Technically speaking, the Index retraced down until 61.8% Fibonacci level, will it break the previous high of 4464.23 on Thursday? I’m optimistic that it will… ;)

July 13 2011-PSEi

 

 

Day 3 of PWR

East Asia Power Resources Corp, PWR, is still on top of the charts, now closing with an amazing 24.22%! This is more than what I’m expecting. For all the shareholders who are still keeping their “PWR bars” congratulations! The 2.0 target “might” be possible. This is really a wonder stock like GERI.

 

Gold of LC/LCB

My bet for LCB waned as it closed not on a high but on 1.17 from an all time high of 1.23. On the other hand, LC, gained 10.89% closing at 1.12 which led the most Active stock. If LCB will not perform tomorrow, I’m shifting to a new one.

 

Another Wonder Stock Brewing

Something’s brewing and I’ve read rumors that this company will be acquired by a well-known property giant, exclude PWR on your guess. Curious? I’ll let you know tomorrow. ;)

As of this posting, 2:10 AM, the US market snaps a 3 day losing streak on Bernanke’s View. You might ask me why am I writing blogs on a 2 AM and have to wake up at 6:30 AM to go to the office? Because I like it! :D

I’d appreciate if you leave your creative comments or responses below.

Good luck and let the grace keep pouring in. Amen! :)

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