Lots of red

Market is down. I am not really sure how deep will be the correction. Today is the second day of descent. Hopefully, tomorrow the bleeding will stop.

I tried to buy MPI today at 3.71 but my post was not hit. So far, MPI is holding to its support. Same story with AGI. It was down today. 

BEL is another story. I really like this stock. It's like AGI when it was trending up from 4 to 10-ish pesos. Maybe 7.50 pesos will be a good TP for this stock.

 

It will be a good day today

Will PSEi follow the lead of foreign indexes? Of course! Actually, I can see GREEN waiting in the corner.
I think, we will definitely see a bigger gain today. The market surge was due to Portugal bond auction. Next will be Spain's turn.
Go PSEi!

Updated-10:26pm

It was a modest gain. Not what I expected. I thought PSEi will have a double digit today. The good thing is, it's still positive. Courtesy of property sector.
AGI added a few cents while MPI sheds a bit. I am not worried as I am long with MPI. Maybe tommorow I should buy some MPI.

CYBR why oh why?

CYBR and European Woes

CYBR really blessed those who happened to buy at lows. I can't really believed that RSA can make every stocks fly high! So, please buy some MPI :-)
Speaking of MPI - I think it is still holding its place. It was down yesterday but now it is making a comeback. I don't see any resistance breakage this week or next week (unless European woes will be resolved). AGI is still good as it was never fall below 10.50. I would recommend a hold for both stocks.

I read that Europe will be the dark horse for 2011. Currently, it's the European problems that pulling down the market. Portugal is the main concern of European union. I hope they will be able to find solution fast. I don't want to see red this year.

CYBR, CYBER, CYBR

I really, really envy those who profited on CYBR. It is only 0.5-ish 6 days ago and now it hit 1 peso level! Congrats to those traders who stick it out with CYBR :)


Re my portfolio, I think AGI is now in consolidating mode and gathering momentum for the next uptrend. MPI is trying to breakout. I can see that it will hit the jackpot next week.

Day, Medium or Long Trading

I think PSE has a good start for 2011. I believe we will have a good market this year.  Of course, there will be correction along the way as other healthy market does. If you are not risk savvy investor - it is time to accumulate on weakness and do some medium or long term tradings. Doing that will give a higher return instead of being a Tsupitero. But if you want excitement - then by all means, day trade. I know how exciting it is to be a Tsupitero. Especially, when you see your portfolio in green and earn thousand of pesos in just a couple of days. The downside is when you put your money in a wrong stocks and was not able to get out because your brain doesn't agree with you. When your stubborn self is hoping for a rally that you know will never come. When you are down 50% and agree with me that you should long instead. But if you learn from it - then you are still not a loser (almost). It is better to lose 50% of your portfolio and still have the guts to stand up and do better instead of losing 5% and accept the defeat. I think - trading is like learning how to walk. Most of the time you make a wrong turn and smack your head a little but as you grow up you learn to veer away from it. As they said - it is better to stumbled down than not to take the first steps.

I still have my AGI and MPI. I added 1,000 shares of MPI today. I can see MPI benefiting from toll increase which will be completed on April this year. 300% will bring a lot of money to MPI.  

MPI Acquires Additional Stakes in Citra:
MPI acquires addition stakes in Citra through MPTC which will result in 2.56% ownership of the company. MPI goal is to increase its stake to 33% in Skyway Project. Citra is concession holder for the Metro Manila Skyway Project. 

AGI's Potential

I think AGI has a good showing for the last trading day of 2010. With CLSA and UBS on buying spree. Maybe they were touched by holiday spirit. Or maybe because of AGI's decision to dip its hands on the gaming industry (I just don't know why foreign likes gaming business?). It is a joint venture of AGI, Travellers International Hotel Group and Genting Hong Kong Ltd. So, I think Genting will be bringing in the customers and Traveller's will take care of accommodations while AGI is the one counting the money :-)

MPI is also in the green zone today (Almost all the industries except service gained points today).  PSEi added 35.32 points to its previous points of 4,163.99 which resulted in its current index of 4,199.31 points - to close the year. At the end - PSEi closed the year with a bang (small bang). This is a good indication of what is coming in 2011. Possibly another prosperous and blessed year. I think I made a good decision to buy bulk of my portfolio this month.

I failed to buy stocks today as I was busy preparing for new year (or my brain is in new year's mode). This is the problem with having this holiday spirit. Sometimes you forget things. Anyway, I can still buy next year - so, why worry?

Mining Companies

Mining companies gain the most on this year (2010). Precious metals prices are at all time high. This brings profit to the coffers of these mining companies. Philex and Nickle Asia definitely has a good year. These are the two giants in mining industry. I think next year will still be a profitable year for them as emerging economies like Brazil, India and China will need metals to sustain their infrastructure requirements brought about by economic spike.


Now, the hurdles that these mining companies need to overcome is the threat of NPA attack. This element which tax businesses in mostly rural areas are asking for 15 to 20 million pesos as protection money. According to the report - some mining companies threaten to pullout of the country if this problem will not be resolved by the government. This is definitely a bad thing. This is bad for our country. This is bad for JAP :-)

The government should have a hard look at this decade old problem. It is now time for both parties to come to the table and discuss how to end the conflict which devastated our country for decade now. If it is really for the interest of the people - then, it is a high time for them to work on the common ground and help each other achieve a long lasting peace for our country.I have not read or hear any concrete plan from the government how they will tackle this problem. This is the same on the part of the NPA. I hope this time they will be able to find a common ground to work on.
As the government - I believe that they should be doing more than putting people in government position. If those who are tasked to regulate mining sector are doing their job - then there will be less happy people.  We have problems in the past where mining companies did not give just  compensation to affected families when their mining companies poisoned our rivers and land. If these government officials are doing their job - I believe there will be no reason for NPA to ask for protection money (they say to give it back to affected communities). If these companies left the country - we Filipinos are the losers here.  When the money goes, the jobs goes with them as well.

Oh holiday spirit - you make me emotional.


I did not buy any stocks today. I think I might buy some tomorrow. I still don't know if it is AGI or MPI. Although, I am more keen on buying MPI.