Tag: ORE

PSEi, new high at 5,050.99; ORE

Posted by AiDz – March 15, 2012

The PSE Index, 14 March 2012

The Philippine Stock Exchange index, PSEi, broke another record, as it closed at 5,050.99, (+45.24/0.90%) as US stocks rose overnight. Index gainers are Ayala Land Inc, ALI (P21.50 +4.12%) and Universal Robina, URC (P62.90 +5.45%). Market breadth was positive with 103 gainers taking over 78 losers; while 30 issues unchanged.

With the Index breaking new highs everyday, I think it would be logical to hold your stocks and let the bull run continue. Based from the chart below, our uptrend started last year, Dec 2011, when the tenkan-sen did a bullish crossover with kijun-sen. It seems like this run will continue for the rest of the year. I’m anticipating a higher index if the Philippines will be upgraded to an investment grade by Fitch Ratings S&P and Moody’s, this year… hopefully.

2012Mar14-PSEi

The next target is at 5,100, then 5,200, support is pegged at 4,980-4,900. 
 

ORE or Nothing

Oriental Peninsula Resources Group (ORE) has closed on its all time high at P7.16. Though it formed a shooting star pattern, which is a bearish pattern, not good. On the side note, since ORE and NI are tandem stocks, ORE should trail NI’s price pattern, in my opinion. Nihao Mineral Resources, NI, is now at P11/share, do you think ORE will reach this level? You’ll have to wait and see. :P

2012Mar-ORE

QOTD

“The average man doesn’t wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn’t even wish to have to think.” -Jesse Livermore

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PSEi new high; PNB-Allied Merger in Jeopardy?

Posted by AiDz – March 6, 2012

The PSE Index – 5 March 2012

Sure enough, the PSE Index closed above 5,000 last week. It even made a historical high today closing at 5,030.58. (+14.28 points or +0.24%). Friday’s close was the anticipated break from the 5,000 psychological resistance, gaining 77.69 points at 5,016.30.

Gainers outpaced losers 92 to 71, while 40 issues were unchanged.

PSEi Index-March-5-2012

Stocks which are Breaking New Highs

Notable gainers today are Marcventures (MARC), which brokeout from its symmetrical triangle pattern, with a significant volume at 3.12 (+22.35%). Phil. Estate Corp (PHES) closing at its highest price since 2007, at 0.61 (+10.91%). Wellex Industries Inc (WIN) trailing behind at 0.40 (+10.91%). Oriental Peninsula Resources Group (ORE), testing its previous high, closed at 6.12 (+7.75%). Philodrill Corp (OV) also closed on its new high at 0.055 (+5.77%). Among the index stocks, Ayala Land Inc (ALI) closed with an impressive +5.24% gain at P22.10, its new all time high.

PNB-Allied Bank Merger in Jeopardy?

DoubleFacepalm

I just got an email alert from Google on Philippine National Bank, PNB (You should also setup email alerts in Google for your stocks Winking smile) which read “SEC, BSP asked to stop merger of PNB-Allied Bank.”

Just when many of us been expecting this merger and a target price of P70/share, then suddenly comes this Government issue!? The “Government” already halted the rally of mining stocks because of its Executive Order, see “EO on Mining to Take Time” then this? What’s next? What the hell ?!?! Steaming mad

Anyway, let’s analyse PNB’s chart. I’m seeing a bearish divergence between the price and Force Index. So there’s already a signal last Friday to sell. If the market reacts on this news tomorrow, we might see PNB’s share price to go down to 64, which I hope not. Will this be an opportunity to buy, take profit for the meantime or cut your losses early? That’s for you to decide.

PNB-March-5-2012

Here’s my quote of the day from Brian Tracy Smile from his book “Eat that Frog”

An old saying is that “If the first thing you do each morning is to eat a live frog, you can go through the day with the satisfaction of knowing that that is probably the worst thing that is going to happen to you all day long!” Your “FROG” is the one you are most likely to procrastinate on if you don’t do something about it now!

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PSEi New Record High; Mining Sector Did it Again; WPI Hit the Roof

Posted by AiDz – August 1, 2011

The PSE index – 1 August 2011

Asian stocks rose as President Obama sealed the deal to avert national default, raised federal debt limit and cut spending.

The Philippine Stock Exchange index, as I expected, closed on a new record high at 4,550.53 points (+46.90 points or +1.04%). Market breadth was positive with 109 gainer stocks vs. 39 losers, while 38 stocks were unchanged. The Mining & Oil sector dominated at 2.41% increase. I’m optimistic that the upswing will continue tomorrow.

 

Philippine Mining Companies Did it Again

Mining companies namely, Manila Mining, MA +10% and MAB 8.20%, Nickel Asia, NIKL 4.37%, Oriental Peninsula, ORE +3.52%, as always, they performed very well on today’s trading.

 

WPI and WIN Raised the Roof

 

 

 

 

 

 

 

 

Waterfront Philippines Inc, WPI, and sister company Wellex Industries Inc, WIN, hit the ceiling at 50% and 49.43% respectively, on rumors (not again?!) that Puregold, a grocery chain, will do a backdoor listing via WPI this November. Regardless of the rumors, If you bought these today, prepare to sell them tomorrow at the opening. Like I always say on my previous posts, newbie traders, stay out trading these penny/basura/3rd liner stocks, rather, invest your funds on index stocks, eg. mining or property stocks.

Good luck and enjoy trading! ;)

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