Updates on PSEI, GLO, TEL, AC, GEO, MEG  

Posted by Book Eater in , , , ,

Haha. Just my second day of trying to impose a format and I can't seem to follow this organized set up. Pasensya.

My brain's a little bit dizzy. It's just 945pm and I want to sleep already. haha.

Commentary on the overall market behavior of PSEI today:

PSEI - Just down .90 pts? Really? It certainly didn't feel that way for me. haha.

You see...stocks like MEG have gone down to 2.10, went as low as 2.06 Certainly, MEG is going down to 1.95 or 2.00 support now (technical aspects). Of course, fundamentals will have to be a different thing now. For those who bought in early and were not able to cut with the break of the 2.46 support before, I think what you can do is

1.) If the position is not in margin anyway, you can just keep the money frozen. If you cut loss at 2.44 like I did, good for you.
2.) It really depends with you. They say entry is always a science, exit is more of an art. Now, while the exit here has been defined to leave at 2.44 no matter what, since you didn't follow that rule, how else would I expect you to do the same when I say to lighten down your position? Up to you...It's up to you on what u want to do with your money. Maybe average it down on a successful bounce from 2 peso support? That seems to be a good entry level.

GLO still down to 1465. AC went down to 430 low, closed at 432.50, TEL hanging at 2880 - very prone to go down. Don't believe in TEL. It's floating without clear support.

PCOR @ 5.9? hmm.... unbelievable resilience.

GEO broke support today when it created intraday lows of 1.16 The good thing is that there was significant volume making it close to 1.18

All I know is that GEO will be trading very thin volumes again. Many have been "burned" trading this stock...so, my suggestion...since you've bought GEO anyway.

1.) keep that money frozen. volatility will get it back to ur price.
2.) u can cut loss already at 1.24 or higher while it's still manageable (depends really on your trading style.)

My recommendation:

Stay light. Raise cash. Accumulate AC (on successful bounces with good volumes).

Don't buy AC first. From the looks of it, it might break the 430 support if it can't close strongly awhile ago. May go down to 400. If you did buy at 432.50, 435 (that's a good risk/reward entry pa rin. I think just hold it.) If you're not an active trader, and just leave it...sue me if this doesn't go up from its previous levels today. The question though is WHEN haha...baka months?a year? hmmm... I don't really know. I'm not a fortune teller.

Also, I think GLO might go to 1405 (earlier support.) I think 1450 will not be respected. But let's wait and see.

Why i think it will break supports and test the double support is because

1.) FGEN is now at 40.50
2.) FPH is at 47

lots of stocks are not respecting their supports.

okay. im antok.

pasensya.....gonna sleep early.


- Nix

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