Technical Insider

Atlas Mining sees $22.5-million profit this year

2010-10-12T12:49:00.001+08:00

Source: Technistock through Citiseconline (or STAR)

Atlas Consolidated Mining & Development Corp.’s subsidiary Carmen Copper Corp. (CCC) is projecting a net profit of $22.5 million this year on the back of a $199 million gross sales revenue. In an investors’ briefing last Friday, officials of CCC also expressed confidence that its third quarter financial performance (which is expected to be announced by Nov. 19) will be much better than its second quarter performance. In a presentation by George Bujtor, executive director of CCC, it was also projected that gross sales revenue for next year would continue to increase to $315 million based on a copper price of $7,050 per ton. CCC is expected to ramp up production next year to 43,158 tons from this year’s expected production of 26,629 tons. Bujtor also revealed that ACMDC will decide by the end of this year on whether its would continue open pit or resort to underground mining to tap the remaining resources in its Lutopan mine in Toledo, Cebu. ACMDC is allotting $1 million for further geophysical surveys around the Lutopan mine area for additional gold and copper prospects. However, ACMDC is also conducting exploration activities for its Sigpit gold project near its current mine operation. Likewise, it is also conducting exploration activities for its Diwata gold project in San Miguel Surigano del Sur and in other sites in Davao Oriental and Compostela Valley. Meanwhile, it was also revealed that ACMDC is in negotiations with three interested investors for the development of its Aquatlas Inc.’s bulk water and power project in Cebu. However, ACMDC has still not decided on which project to proceed with, either the bulk water or the power project.

PNB forming a gap up

2010-09-23T11:47:00.001+08:00

PNB continues to be bullish after a posting a volume of 10,905,280 highest since July 23, 2010

PNB forming a gap up!

Good luck to all!

SECB continues to test resistance at

2010-09-23T11:31:00.004+08:00

SECB continues to test resistance at 85.

85 is the 10 year high of SECB.

I hope it breaks this resistance soon.

Good luck to all :)

Intraday: SM showing support at intraday low

2010-09-21T11:09:00.003+08:00

SM seems to be showing its support level as volume hits 1M shares traded

hopefully, this will not go lower than 520

Good luck to all :)

PNX Stock Divided 40% Ex Date today September 21, 2010

2010-09-21T11:06:00.001+08:00

Stock Divided 40% Ex Date today September 21, 2010

News on PNX:
DCL #6116: Phoenix Petroleum stock dividend declaration
We refer to Circular Nos. 2338-2010 (dated April 12, 2010) and 4900-2010 (dated July 16, 2010) regarding the approval by the Board of Directors and stockholders of Phoenix Petroleum Philippines Inc. ("PNX") of the declaration of a 40% stock dividend and the increase in its authorized capital stock from Php400,000,000.00 to Php800,000,000.00… Finally, pursuant to the stock dividend declaration approved by the Board of Directors and ratified by the stockholders, the Company as confirmed by the Commission would like to announce that all stockholders as of record date of September 24, 2010 shall be entitled 40% stock dividends to be issued and paid on October 20, 2010…. STOCK DIVIDEND (UPDATE): Stock - 40% Ex-Date - September 21, 2010 Record Date - September 24, 2010 Payment Date - October 20, 2010

GEO gap up with volume

2010-09-17T08:58:00.002+08:00

GEO formed a gap up long white candle to test resistance at 0.730

volume of 90,392,000 is highest since november of 2009

I hope this continues for geo!

Good luck to all! :)

NRCP Volume picking up

2010-09-16T10:26:00.002+08:00

NRCP

During the first hour of trading, I noticed that NRCP's volume was picking up at this time it is forming another long white candle.

Volume highest since July 23, 2010

Good luck to all traders! :)

PSEi about to test resistance at 4000

2010-09-15T12:44:00.001+08:00

PSEi tested 4000 but was not able to close above this level.

I hope PSEi breaks this resistance :)

Good luck everyone! :)

PNX continues to rally! Higher high!

2010-09-15T12:21:00.003+08:00

PNX continues to rally and achieves a higher high at 9.14. PNX closed slightly below at 9.10 but a good improvement from an open of 9.0 which was the level of yesterday's high.

News on PNX:
DCL #6116: Phoenix Petroleum stock dividend declaration
We refer to Circular Nos. 2338-2010 (dated April 12, 2010) and 4900-2010 (dated July 16, 2010) regarding the approval by the Board of Directors and stockholders of Phoenix Petroleum Philippines Inc. ("PNX") of the declaration of a 40% stock dividend and the increase in its authorized capital stock from Php400,000,000.00 to Php800,000,000.00… Finally, pursuant to the stock dividend declaration approved by the Board of Directors and ratified by the stockholders, the Company as confirmed by the Commission would like to announce that all stockholders as of record date of September 24, 2010 shall be entitled 40% stock dividends to be issued and paid on October 20, 2010…. STOCK DIVIDEND (UPDATE): Stock - 40% Ex-Date - September 21, 2010 Record Date - September 24, 2010 Payment Date - October 20, 2010

Source: Technistock

PNX Gap Up!!!

2010-09-14T15:54:00.002+08:00

PNX Gap Up!!!

PNX continues bullish behaviour!

PNX opened at High of 9 and and low of 8.50 which is above yesterdays high of 8.20

Volume diminished from 1,362,600 yesterday to 1,004,400 shares.

Im hoping that PNX will not test support at 8.5 tom.

Good luck to everyone!

PNX Breakout!!!

2010-09-14T08:33:00.002+08:00

PNX Breakout

Support at 7.8
Volume highest in the past 6mos!
Target: 10?!?

Goodluck everyone! :)

PSEi about to test resistance at 3130/3133

2010-03-10T23:35:00.005+08:00

PSEi seems likely to test resistance at 3130/3133 (2Dec2009 and 15Jan2010)

Open: 3110
High: 3125
Low: 3110
Close: 3120

White candle formation (3rd straight) opening low and closing near intraday high.

3rd straight higher high.

32MA seems to be supported by 130MA and might be a lagging indicator for the uptrend. 32MA might cross above 65MA to confirm bullish trend.

RSI: 69 nearing overbought level of 70 but might also signal bullishness of the index after crossing above 70

Parabolic SAR: 3049

Regrads to Prof. Cayanan, CBA, UPD; and Congratulations to the UP-CBA delegation for winning CFA Investment Research Challenge for Asia-Pacific!!! Good luck on the Global IRC Competition :)

Congratulations to Team Philippines for winning the Asia Pacific leg of the Global Investment Research Challenge on 6 March 2010. The Philippine Team came from the University of the Philippines, with students Pamela Li, Raymund Siegfrid Li, Jose Mari Punzalan, Rachelle Denise Sison, Choerleen Bianca Solema, faculty advisor Gavin Lee and industry mentor Denis G. Du,CFA. This winning team will represent the Asia Pacific region in the Global Investment Research Challenge to be held in Hong Kong on 17 April 2010.
http://www.cfaphilippines.org

What the ----!!! Gap down!

2010-02-06T12:41:00.003+08:00

PSEi
Open: 2859
High: 2864
Low: 2726
Close: 2855

What the ----!!!

After hitting the 130MA PSEi made a nose dive by producing a gap down. Seems like the bears are in control... Be careful everyone :)

RSI: 21 - oversold... PSEi might bounce but continue to trend downwards...

32MA 3016 crosses under 65MA 3019 - down trend...

The first green bar of a rally?

2010-02-03T15:46:00.004+08:00

Daily Notes

The first green bar of the rally (I am currently using the charting application provided by Citiseconline, if your using amibroker it should be the first white candle)

After testing a possible resistance at 3133 (15Jan2010) the PSEi has dramatically and heartbreakingly collapsed.

For the past 14 trading days: 4 trading days registered green/white candles (4/14) the rest is obviously in the red/black.

Two gap downs were formed which would most likely be levels of resistance.

Prior to todays market action the DJIA set the mood to trend upwards.

This may have been the sign investors/traders have looking forward too.

The evidence: a green/white candle with little downward uncertainty. The PSEi opened low and tested highs but still closed significantly higher than its open.
Open:2867
Low: 2867
High:2892
Close: 2884

Is this a sign of a possible rally? Hopefully.

But the volume does not support this opinion since today's volume fails in comparison to the past 14 trading days. A rally would most likely occur if PSEi would form a higher high and higher low tomorrow with volume 4B. For now let us watch and wait for confirmation.

My professor in Finance at UP was wondering why the market falling. I am also asking that question, fundamentally.

But if you look at the chart, on 15Jan2010 the RSI of the PSEi hit 71, signalling an overbought environment. PSEi reacted by falling from 3133 to 2847 (02Feb2010). But upon reaching yesterday's low of 2847 the PSEi's RSI hit 18, signalling an oversold environment; which might also be a reason why we formed the green/white candle we see today that my start the rally.

Hershey Announces Fourth Quarter and Full-Year 2009 Results; Reaffirms Outlook for 2010; Increases Quarterly Dividend

2010-02-03T14:08:00.004+08:00

Open: 37.85
Low: 36.95
High: 37.96
Close: 37.20

Gap up!

The real body hit the Parabolic SAR to signal a possible uptrend in the daily chart.

Hopefully HSY will test resistance at 39 :)

Hershey Announces Fourth Quarter and Full-Year 2009 Results; Reaffirms Outlook for 2010; Increases Quarterly Dividend

HERSHEY, Pa., Feb 02, 2010 (BUSINESS WIRE) -- The Hershey Company (NYSE: HSY):

Fourth quarter and full-year 2009 net sales increase 2.2% and 3.2%, respectively

Fourth quarter earnings per share-diluted of $0.55 as reported and $0.63 adjusted

Full-year 2009 earnings per share-diluted of $1.90 as reported and $2.17 adjusted

Outlook reaffirmed for 2010 growth in net sales of 3-5% and an increase in adjusted earnings per share-diluted of 6-8%

Quarterly dividend declared and increased 7.6% on Common Stock

The Hershey Company (NYSE: HSY) today announced sales and earnings for the fourth quarter ended December 31, 2009. Consolidated net sales were $1,407,336,000 compared with $1,377,380,000 for the fourth quarter of 2008. Reported net income for the fourth quarter of 2009 was $126,779,000 or $0.55 per share-diluted, compared with $82,155,000 or $0.36 per share-diluted for the comparable period of 2008.

Daily Notes

2010-01-28T13:36:00.002+08:00

Daily notes

PSEi registered a green day today :) Which might be a reaction to a possible oversold level yesterday (RSI = 30.367)

PSEi likely to cross the MA130 (2896) this week...

The bears are definitely in control...

WEB trying to find support... hopefully it found it at yesterday's low of 15.75, since it registered a higher low today of 16...

PNX higher low today at 6.9 :) there might really be a support level at 6.6 :) I doubt it if PNX can break the resistance at 7.1 this week...

Good luck to everyone :)

Daily Notes

2009-03-30T10:04:00.010+08:00

Daily Notes

Top Losers:
BDO, lower low, currently at overbought levels (RSI = 85.7, highest for the past year)
JGS
RCB
MWC, most active list
ALI, most active list

Stock Watch
AT higher high, resistance at MA130 (4.9), intraday 4.45 (highest in the past 3mos.)

Is March 2009 forming a hammer?

2009-03-19T19:43:00.002+08:00

DJIA = 7486.58

First of all thank you for reading this post :)

It has been quite a while since my last post :)

Let me introduce you to the above chart generated for us by bigcharts.com :)

This is a monthly candelstick chart of the DJIA for the past decade.

We can note from this chart that the DJIA has again formed a new low for the past decade.

I can only hope that the DJIA is truly forming a hammer for the march 2009.

What Does Hammer Mean?
A price pattern in candlestick charting that occurs when a security trades significantly lower than its opening, but rallies later in the day to close either above or close to its opening price. This pattern forms a hammer-shaped candlestick.

Investopedia explains Hammer
A hammer occurs after a security has been declining, possibly suggesting the market is attempting to determine a bottom.

The signal does not mean bullish investors have taken full control of a security, it simply indicates that the bulls are strengthening.

(from Investopedia.com)

The MACD still signals a bearish sign...

The RSI is slightly above 20 and is still indicating an oversold level. RSI below 20 last february is the "weakest" the DJIA has been in the past decade. We truly are in a situation wherein we need a technical bounce in order to resolve the overbought condition of the DJIA. Is the possible formation of a hammer in march 2009 the herald of a possible technical bounce?

Again, thank you for reading :)

Good luck in all your trades :) take care and god bless :)

The Big Fall (part 2: the effect)

2008-09-30T07:29:00.003+08:00

The Big Fall (part 1: the cause)

2008-09-30T07:18:00.003+08:00

Dow dives 777 points as House rejects bailout plan (from yahoo.com)

NEW YORK - The failure of the bailout package in Congress literally dropped jaws on Wall Street and triggered a historic selloff — including a terrifying decline of nearly 500 points in mere minutes as the vote took place, the closest thing to panic the stock market has seen in years.

The Dow Jones industrial average lost 777 points Monday, its biggest single-day fall ever, easily beating the 684 points it lost on the first day of trading after the Sept. 11, 2001, terrorist attacks.

U.S. stocks hammered after House rejects rescue
Dow posts biggest point loss ever, topping plunge after Sept. 11, 2001
By Kate Gibson, MarketWatch

NEW YORK (MarketWatch) -- Stocks plunged Monday, with the Dow industrials plunging 777 points or their worst point drop on record, as the House of Representatives voted down the government's $700 billion financial bailout package.

Congress calls Wall Street's bluff, and we lose
Commentary: How rejecting a $700 billion plan cost us $1 trillion
By David Callaway, MarketWatch

SAN FRANCISCO (MarketWatch) -- Congress called Wall Street's bluff Monday, and investors, savers, retirees and employees around the world lost their shirts.

While groups of politicians bickered like schoolchildren over the failure of the House of Representatives to pass Treasury Secretary Henry Paulson's $700 billion bailout plan, the S&P 500 Index plunged to its worst day since the week of the 1987 stock-market crash, wiping out more than $700 billion in the index's market value.

In other words, we all just spent that $700 billion today -- and still didn't get a rescue plan.

You're doing a heckuva job, Congress.

[dot]NEWbie

2008-09-24T10:07:00.002+08:00

I recently received an email inviting me to include in my blog roll or blog list a site named [dot]NEWbie

I decided to check out the site.

It was delightful to view his commentary about the PSE and the lack of local investors.

It was great that he placed in the numbers for us.

I would really like to have the research that he was "quoting" but alas there is not link to the source.

Please visit the site :)

http://dotnewbie.com/

Its been quite a while now since I last posted... albeit look at any charts...

Im planning to become more active again in the near future and TEL has sparked my interest.

Hopefull I can materialize this planned before October ends :)

Good luck to all the traders!

Thank you for reading :)

AT - moving above possible resistance

2008-06-03T07:13:00.002+08:00

AT = 16.75 (+6.3%)

AT formed a white candle with higher high and higher low. Volume of 9.4M greatest since 15 November 2007.

AT was able to move above possible resistance of 16.5. Might test possible resistances at 16.75 and 17.25.

Price of AT above the 32MA.

AT still oversold based on the RSI at 77.8

MACD again poised to cross above the signal line, both above the zero line = Buy long

AT pushing the upper Bollinger Band.

AT hit the parabolic SAR which was serving as a level of resistance.

Good luck to all AT traders!

2008-06-01T16:47:00.001+08:00

PSEi weekly

PSEi formed another black candle with lower low and lower high.

On its way to test the previous resistance line now likely to be acting as a support level.

Good luck to all traders!

Day trading notes

2008-05-29T09:55:00.002+08:00

Day Trading notes

DJIA up
PSEi down

Stocks to watch:
SM - might test previous gap down, might form 3rd white candle, might move above 32MA
MER - going down further

SM formed higher high, amongst most active
MEG amongst most active, new low since 10/13/2006

SM - another white candle

2008-05-29T09:45:00.002+08:00

SM = 257.5 (+1.0%)

SM formed another white candle with higher high and higher low. Volume increased.

SM on its way to test resitance at 32MA.

SM on its way to test resistance of previous gap down.

Good luck to all SM traders!

PSEi - black candle, bearish engulfing?

2008-05-29T09:36:00.002+08:00

PSEi = 2833.27 (-0.8%)

PSEi formed a black candle with higher high and higher low. Volume decreased.

PSEi was able to close previous gap down.

PSEi closed near its low and at or below its 32MA. Bearish sign.

PSEi also seems to have formed a bearish engulfing pattern.

Careful traders...

DJIA - 2nd white candle

2008-05-29T07:40:00.002+08:00

DJIA = 12,594.03 (+0.36%)

DJIA seems to be forming another white candle with higher low and higher high. Volume seems to be increasing.

I hope DJIA continues to form white candles with higher low and higher highs.

Good luck to all traders!

PSEi - white candle

2008-05-28T10:34:00.004+08:00

PSEi = 2855.98 (+0.5%)

PSEi formed a white candle with higher high and higher low with increasing volume.

PSEi moved above the 32MA which hopefully will act as a level of support. Hopefully PSEi will try to test the 65MA at 2916.

Good luck to all traders!

NRCP - Support at 2.6; resistance at 2.95

2008-04-12T20:31:00.005+08:00

NRCP = 2.65 (+1.90%)

NRCP formed a white candle. Volume continues to decrease.

NRCP seems to be testing support at 2.6. I hope the support holds.

Fibonacci Retracement: more than 61.8%. Unhealthy retracement. NRCP will find it difficult to achieve the similar high formed by the previous rally or uptrend.

32MA acting as level of resistance.

MACD: MACD crossed below signal line above the zero level to signal sell long.

NRCP weekly: formed another black candle with lower low and lower high.

Rally or Uptrend failed to move above a possible resistance at 2.95.

Corrected more than 61.8% of the Fibonacci retracement level. Unhealthy retracement. Rally or uptrend less likely to occur following drastic correction.

Seems to be forming aggressive supply or resistance line.

Careful NRCP traders...

DJIA weekly - testing resistance at 12,800

2008-04-12T20:00:00.002+08:00

DJIA weekly formed a black candle with higher low. Volume decreased slightly.

DJIA seems to again test the resistance at 12,800

DJIA weekly seems to be rallying or trending up as it continues to form higher lows.

Good luck to all traders!

PSEi weekly - bearish engulfing

2008-04-12T19:56:00.003+08:00

PSEi weekly formed a black candle with lower high and lower low.

PSEi weekly seems to have formed a top for the recent rally or uptrend.

A reversal pattern: the bearish engulfing seems to have been formed. It will be confirmed by the formation of a lower low and lower high for the next trading week.

PSEi seems to be forming an aggressive supply or resistance line.

PSEi seems to be headed to test the possible aggressive demand line.

Careful traders...

ATN - possible top

2008-04-12T18:56:00.004+08:00

ATN = 5.0 (-2.0%)

Daily: ATN formed a black candle with lower low and lower high. Volume continues to decrease for the 4th trading day.

ATN seems to continue to be forming lower highs. Caution should be exercised as ATN might be correcting as in the short term.

Support might be felt at 4.9

Weekly: ATN formed a black candle with higher high and higher low.

It is uncertain whether the black candle is signaling a top for the uptrend of ATN. If it is the top of the uptrend a correction towards 4.02, the 38.2% fibonacci retracement level, would be healthy and would be a good price to buy ATN again after hopefully selling at the possible high of 5.4

Careful ATN traders...

DJIA - fell 2%

2008-04-12T18:50:00.002+08:00

DJIA = 12,325.42 (-2.04%)

DJIA formed a black candle with lower low and lower high. Volume continues to increase.

DJIA trying to find level of support. Support might be felt at the 12,100... ouch!

Looks like it will be a bloody monday once again for the local market... ouch!

Careful traders...

PSEi - 6th black candle

2008-04-12T18:42:00.004+08:00

PSEi = 2940.98 (-0.50%)

PSEi again formed another black candle but with higher low and higher high. Volume increasing.

There seems to be a support level forming at 2932. I hope it holds :)

32MA still acting as level of resistance.

Parabolic SAR still signaling a possible rally or uptrend.

Good luck to all traders!

DJIA - black candle

2008-04-10T08:28:00.002+08:00

DJIA = 12,527.26 (-0.39%)

DJIA forming a black candle with higher low and lower high. Volume relatively unchanged.

I hope DJIA continues to form higher lows as it signifies a rally or an uptrend.

Good luck to all traders...

PSEi - 4th black candle

2008-04-10T08:24:00.002+08:00

PSEi = 2961.78 (-0.60%)

PSEi again formed a black candle with lower low and lower high. Volume continues to decrease.

32MA still acting as a level of resistance.

PSEi correcting or trending down to test support levels.

Good luck to all traders...

GMAP - trying to close previous gap down

2008-04-09T09:26:00.004+08:00

GMAP = 7.5 (+1.4%)

GMAP formed a white candle with higher high and lower low. Volume increased significantly.

GMAP trying to close previous gap down.

Good luck to all GMAP traders!

DJIA - 3rd black candle

2008-04-09T09:04:00.002+08:00

DJIA = 12,576.44 (-0.29%)

DJIA forming a 3rd black candle with lower low and lower high. Volume decreasing.

Good luck to all traders!

PSEi - 3rd black candle

2008-04-09T08:53:00.002+08:00

PSEi = 2981.12 (-0.10%)

PSEi formed a 3rd black candle with lower high and lower low. Volume decreasing.

32MA serving as a level of resistance.

Good luck to all traders!

PSEi - continues rally or bounce

2008-03-25T07:58:00.002+08:00

PSEi = 2867.5 (+1.8%)

PSEi formed a white candle with higher low and higher high. Volume only half of previous trading day.

PSEi seems to be bouncing/rallying/trending up.

Good luck to all traders!

DJIA - white candle amidst collapse of Bear Stearns

2008-03-18T08:41:00.002+08:00

DJIA = 11,972.25 (+0.18%)

DJIA forming a white candle with lower low and lower high. Volume increasing slightly.

DJIA seems to still be trading within the trading range it has set since the middle of January this year.

Though the Bear Stearns collapse seems catastrophic, the DJIA did not seems to buckle under this bearish pressure. Maybe due to the recent cut made by the Fed?

I hope the local stock market rallies with the strength that DJIA is showing :)

Good luck to all traders!

PSEi - big black candle; aftermath of Bear Stearns

2008-03-18T08:30:00.003+08:00

PSEi = 2793.68 (-3.9%)

PSEi formed a big black candle with lower high and lower low. Volume decreased slightly.

PSEi might have reacted to bearish outlook of the US stock market and the collapse of Bear Stearns.

I hope PSEi manages to post gains today. I'm praying for a miracle that PSEi forms a higher high today :)

Kindly look at the formation of the RSI with respect to the Price. Price has formed a lower low, but RSI did not form a lower low... slingshot anyone :)

Good luck to all traders!

PCOR - break of resistance

2008-03-02T21:13:00.005+08:00

PCOR weekly formed another white candle with higher low and higher high.

PCOR weekly moved above possible resistance of 6.0, now hopefully serving as level of support.

PCOR = 6.2 (+5.1%)

PCOR formed another white candle with higher low. Volume decreased slightly.

PCOR moved above possible resistance of 6.0 and tested it as a support level last trading day. Bullish. But I doubt that it will hold this coming bloody Monday. I hope it does hold...

Good luck to all PCOR traders!

GMAP - rally?

2008-03-02T18:04:00.004+08:00

GMAP weekly formed another white candle with higher high and higher low. GMAP weekly parabolic SAR was also hit and is now hinting that GMAP might be trending upwards...

GMAP = 7.4 (+2.8%)

GMAP formed another white candle with higher low and higher high. Volume decreased.

GMAP seems to have moved above a possible aggressive resistance or supply line. Bullish.

GMAP seems to be rallying or trending up. Bullish.

GMAP moved above the 65MA. Bullish.

GMAP MACD now moving above the zero line, to signal a buy long. Bullish.

GMAP RSI after breaking a possible resistance line continues to trend up and possibly test the overbought limit pegged at 70. Bullish.

I hope GMAP continues this bullishness, but this coming bloody Monday will surely be a test of the strength of the upward momentum of GMAP...

Good luck to all GMAP traders!

AT - on its way to test resistance

2008-03-02T17:44:00.007+08:00

AT = 11.25 (+4.70%)

AT weekly formed a 3rd straight white candle with higher low and lower high. Might be on its way to test supply or resistance line.

AT formed a big white candle with higher high. Volume decreased.

AT seems to be on its way to test the resistance or supply line.

AT was also able to move above the 32MA. Bullish.

I can only hope that AT will be able to continue to form higher lows and higher highs, especially on the coming bloody Monday...

Good luck to all AT traders!

DJIA weekly - deceiving?

2008-03-02T17:01:00.003+08:00

DJIA weekly formed a black candle with higher high and higher low. Volume increased.

DJIA seems to be rallying or trending up... and this was confirmed by the formation of higher highs and higher lows... but the drastic downward movement of the DJIA last Friday leaves little room for an optimistic Monday...

Careful traders...

PSEi weekly - continues correction/downtrend

2008-03-02T16:44:00.002+08:00

PSEi weekly formed a white candle with lower low and lower high.

It seems like PSEi is on its way to test the slightly aggressive support or demand line.

With the huge downward movement by the DJIA last Friday there is a potential that the local PSEi might head south also...

Careful traders...

DJIA - big black candle; down 315.79 pts

2008-03-01T10:36:00.004+08:00

DJIA = 12,266.39 (-2.51%)

DJIA forming an almost top shaven big black candle with lower low and lower high. Volume biggest since 1 February 2008.

DJIA erased all the gains it made this week and then some more... Bearish...

Looks like it will be a bloody trading day on Monday...

Careful traders...

PSEi - testing aggressive resistance line

2008-03-01T09:22:00.003+08:00

PSEi = 3129.99 (+0.60%)

PSEi formed a white candle with higher high and lower low. Volume continues to decrease.

PSEi rallies to once again test the possible aggressive supply or resistance line.

Good luck to all traders!

Day trading notes

2008-02-29T10:53:00.003+08:00

PSEi rallying?

DJIA resting?

Watching: MEG, PCOR, GMAP

PX higher high, among most active, rallying to test possible resistance at 9.5
MEG testing support at 2.5 (change in price fluctuation 2.48 - 2.5 - 2.55), closed at its low of 2.48 below support of change in fluctuation of 2.5
PCOR testing possible support at 6.0
GMAP higher high
TEL higher high, among most active
SM higher high, among most active
MER higher high, among most active
PX higher high, among most active
BDO higher high, among most active
JFC higher high, among most active
SMPH higher high, among most active
OMW2 again trading at an all time low, among top losers
NI among top gainers

Notes at the open

2008-02-29T09:43:00.004+08:00

Notes at the open

PSEi rallying?

DJIA resting?

Watching: MEG, PCOR, GMAP

PX higher high, among most active, rallying to test possible resistance at 9.5
MEG testing support at 2.5 (change in price fluctuation 2.48 - 2.5 - 2.55)
PCOR testing possible support at 6.0

PCOR - breakout?

2008-02-29T09:29:00.004+08:00

PCOR = 6.2 (+5.1%)

PCOR formed a white candle with higher high. Volume increased significantly.

PCOR moved above possible resistance pegged at 6.0.

I hope that this previous resistance line now becomes a level of support for PCOR.

Good luck to all PCOR traders!

MEG - rally?

2008-02-29T09:16:00.003+08:00

MEG = 2.6 (12.1%)

MEG formed a gap up white candle. Volume decreased.

MEG moved above possible supply or resistance line. Bullish.

MEG on its way to test 32MA.

MEG RSI testing resistance line. Bullish.

MEG about to hit parabolic SAR to signal possible rally or uptrend. Bullish.

Good luck to all MEG traders!

GMAP - rally or uptrend?

2008-02-29T09:10:00.003+08:00

GMAP = 7.2 (+5.9%)

GMAP formed another white candle with higher high and higher low. Volume continues to increase.

GMAP moved above a possible supply or resistance line. Bullish.

GMAP testing 65MA. Bullish

GMAP pushing the upper limit of the Bollinger Bands. Bullish.

Good luck to all GMAP traders!

DJIA - resting or top of rally?

2008-02-29T09:04:00.001+08:00

DJIA = 12,582.18 (-0.88%)

DJIA forming a black candle with lower high and higher low. Volume decreasing slightly.

After 4 straight days of forming white candles, DJIA finally forming a black candle.

The question is whether this black candle is indicating the DJIA is merely resting before it continues to move higher or possibly top of the rally...

Good luck to all traders!

PSEi - rally

2008-02-29T08:59:00.004+08:00

PSEi (0.3%)

PSEi formed a doji with higher high and higher low. Volume decreased slightly.

PSEi trying to rally and test supply or resistance line.

Good luck to all traders!

Day trading notes

2008-02-27T09:33:00.003+08:00

PSEi virtually unchanged

DJIA rallying and looking to test resistances

MEG higher high, previously fell almost 8%

SM - on its way to test supply or resistance line

2008-02-27T08:46:00.002+08:00

SM = 290 (+2.7%)

SM formed a white candle with higher high and higher low. Volume biggest since 14 February 2008.

SM seems to have gained momentum and looks to test resistances:
1. 292.5 - recent high
2. 32MA
3. 300 - recent gap down
4. 310 - recent high

Good luck to all SM traders!

DJIA - 3rd straight white candle with higher lows and higher highs

2008-02-27T08:39:00.002+08:00

DJIA = 12,684.92

DJIA forming another white candle with higher low and higher high. Volume increasing slightly.

DJIA, unlike its local counterpart the PSEi, seems to be rallying and in the mood to test resistance levels... Bullish

On its way to test 12,800?

Good luck to all traders!

PSEi - almost unchanged

2008-02-27T08:31:00.002+08:00

PSEi = 3079.54 (0.0%)

PSEi formed black candle with lower low and lower high. Volume increased slightly.

PSEi almost top shaven with long bottom... Bearish?

PSEi continues to respect aggressive supply or resistance line... It also seems to have accelerated the rate of decline of the supply or resistance line... Bearish

PSEi RSI (34.5) about to hit the lower limit of 30 and signal oversold...

Careful traders...

PSEi weekly - continues to form lower lows and lower highs

2008-02-25T10:39:00.002+08:00

PSEi weekly has formed a third straight black candle with lower low and lower high.

PSEi weekly seems to be headed to test possible support line...

Careful traders...

DJIA - consolidating

2008-02-25T10:32:00.003+08:00

DJIA = 12,381.02 ()

DJIA formed a white candle with lower low and lower high. Volume increased slightly.

DJIA seems to be consolidating with a downward bias.

I would really like to see the DJIA break resistances soon...

Good luck to all traders...

PSEi - big black candle

2008-02-25T10:24:00.002+08:00

PSEi = 3080.24 (-3.0%)

PSEi formed a big black candle with lower low and lower high. Volume increased.

PSEi respecting aggressive supply or resistance line and possibly looking for a support level. Support may be pegged at: 2980...

PSEi moved below the Parabolic SAR to signal reversal of previous trend... Bearish

PSEi pushing the lower limits of the Bollinger Bands... Bearish

PSEi might test lower limit of RSI at 30 and might test recent low of RSI at 21.65... Bearish...

Careful traders...

PCOR - continues to form higher lows

2008-02-20T13:07:00.003+08:00

PCOR = 5.9 (1.7%)

PCOR formed a bottom shaven white candle with higher low and higher high. Biggest volume since 18 January 2008.

PCOR continues to form higher lows. Bullish.

PCOR testing resistance at 6.

PCOR continues to push the upper limit of the Bollinger band. Bullish.

I hope PCOR continues to form higher highs.

Disclosure: Bought PCOR at 6. Should have not anticipated the breakout. Could have gotten it today at 5.9 or waited for breakout at 6.1

Good luck to all PCOR traders!

GEO - confirms breakout

2008-02-20T13:02:00.003+08:00

GEO = 1.3 ()

GEO formed a botttom shaven black candle with higher low and higher high. Volume decreased slightly.

GEO confirms breakout by forming higher low.

GEO failed to impress by forming a bottom shaven black candle.

GEO moved back below the 32MA.

GEO tested resistance at 1.42. Failed to move above resistance.

I hope GEO continues to form higher lows.

I hope GEO moves above the resistance at 1.42.

Disclosure: Bought more GEO at 1.4

Good luck to all GEO traders!

PSEi - interesting trading day tom

2008-02-20T12:55:00.002+08:00

PSEi = 3181.05 (-0.3%)

PSEi formed a black candle/doji with lower high and higher low. Volume decreasing.

PSEi might be forming a possible support/demand line.

The coming trading day seems very interesting on whether the possible aggressive demand line will hold or whether the possible aggressive supply line will be respected.

Good luck to all traders...

Day trading notes

2008-02-20T10:36:00.004+08:00

Bought GEO at 1.4 - might be a wrong move since GEO closed on its low today at 1.3. Hopefully GEO continues to form higher lows tom.
Bought PCOR at 6 - good volume, should have waited and not anticipate the break out. Could have gotten PCOR at 5.9.

PSEi testing aggressive supply/resistance line.

DJIA higher high and higher low. On its way to test 12600.

Attended Absolute trader's Chart Analysis forum last night at PSE Ortigas trading floor.

GEO higher high. Among most active. GEO needs to close near its high to signal continued bullishness. Dismal intraday performance. Heartbreaker.
PCOR higher high. Among most active. Testing resistance at 6.
AT higher high. Among most active. Among top gainers. Closed previous gap down.
TA higher high. Might test resistance at 1.32
MEG among most active, lower low
RLC among most active, lower low, on its way to test support at 11.25
OM among top losers

AT - testing resistance

2008-02-20T10:31:00.002+08:00

AT = 11.5

AT formed a gap up white candle. Biggest volume since 8 February 2008

AT seems to be testing resistance made by previous gap down.

AT moved above 32MA. Bullish short term.

AT pushing upper level of Bollinger Bands. Bullish.

Good luck to all AT traders! :)

GEO - Breakout!

2008-02-20T10:18:00.002+08:00

GEO = 1.38

GEO formed a big white candle with higher low and higher high. Biggest volume since 23 January 2008.

GEO moved above the possible resistance line. Breakout with volume.

GEO moved above the 32MA. Bullish in the short term.

GEO MACD signaling buy, short.

GEO pushing the upper level of the Bollinger Band. Bullish.

GEO possibly on its way to test the following resistances:
1.42 - recent high
1.62 (65MA)
1.76 - recent high

GEO might find support at:
1.36 (32MA)
1.28 previous resistance
1.18 big white candles low

Good luck to all GEO traders! :)

DJIA - another black candle/doji

2008-02-20T10:02:00.004+08:00

DJIA = 12,337.22

DJIA formed another black candle/doji, with higher high and higher low. Volume decreasing.

DJIA seems to be headed to test resistances at 12,600 and possibly 12,800.

Good luck to all traders! :)

PSEi - testing aggressive supply line

2008-02-20T09:55:00.003+08:00

PSEi = 3190.67

PSEi formed a white candle with higher high and lower low. Biggest volume since 25 January 2008.

PSEi still respecting aggressive supply line.

PSEi might have formed a possible bottom or support at 3157 level. On its way to test aggressive supply line.

Good luck to all traders! :)

NRCP - consolidating in the daily view but weekly view has potential

2008-02-17T18:34:00.008+08:00

NRCP = 2.85 (0.0%)

NRCP formed a white candle with lower low. Volume increasing.

NRCP seems to be consolidating in the daily candlestick charts and respecting a possible aggressive supply or resistance line.

NRCP weekly formed a doji with higher low and higher high.

NRCP weekly on the other hand looks to be promising. NRCP weekly seems to be forming an aggressive support or demand line. I hope NRCP weekly continues to form higher highs.

Good luck to all NRCP traders!

DJIA weekly - white candle

2008-02-17T17:58:00.002+08:00

DJIA weekly formed a white candle with lower high and lower low.

DJIA on its way to test support at 11,500? I hope not...

PSEi weekly - on it's way to test possible support at 3173

2008-02-17T17:45:00.003+08:00

PSEi formed an almost top and bottom shaven black candle with lower high and lower low.

The formation of shaven top and bottom black candle might have bearish implications. An upper and lower shadow measures the uncertainty of the move to the upper and lower limit of the price action. The lack of uncertainty means that price is almost certainly or definitely bearish...

Careful traders...

DJIA - top shaven black candle

2008-02-17T17:40:00.003+08:00

DJIA = 12,348.21 (-0.23%)

DJIA formed a top shaven black candle with lower high and lower low. Volume increased.

DJIA on its way to test support at 12,050? I hope not.

Careful traders...

PSEi - still respecting aggressive supply/resistance line

2008-02-16T08:00:00.003+08:00

PSEi = 3182.85 (-0.90%)

PSEi formed a 3rd black candle with lower low and lower high. Volume decreasing.

PSEi on its way to test possible support at 3176, a previous recent low...

PSEi respecting aggressive resistance line... Bearish...

Durng the previous week 65MA crossed below 130MA... Bearish...

Price below 32MA... bearish; 32MA below 65MA... bearish; 65MA below 130MA; bearish...

PSEi RSI formed an aggressive resistance line...

MACD: fast line above signal line, buy; both below zero line, short (Buy, Short)

Bollinger Bands constricting: decrease in volatility?

Price being supported by Parabolic SAR: still bullish?

Careful traders...

SM - aggressive supply line

2008-02-13T10:58:00.002+08:00

SM = 297.5 (0.0%)

SM formed a doji with lower low and lower high. Volumed increasing.

SM seems to have formed an aggressive supply/resistance line.

Careful SM traders...

MEG - forming aggressive demand line

2008-02-13T10:40:00.000+08:00

MEG = 2.7 (1.9%)

MEG a white candle. Volume decreased significantly.

MEG seems to be forming an aggressive demand line. I hope this holds :)

Good luck to all MEG traders!

GEO - symmetric triangle?

2008-02-13T10:25:00.000+08:00

GEO = 1.18 (0.0%)

GEO formed another black candle with lower high. Volume decreased significantly.

GEO seems to be forming a symmetric triangle. I hope it breaks out :)

Good luck to all GEO traders!

DJIA - confirms bullish engulfing

2008-02-13T08:47:00.000+08:00

DJIA = 12,373.41 ()

DJIA forming a bottom shaven white candle with higher low and higher high.

DJIA seems to have confirmed the reversal pattern: bullish engulfing, by forming higher low and higher high.

Good luck to all traders!

News:

Blue chips rally on Buffett
Dow and S&P 500 jump on billionaire investor's offer to help bond insurers and a plan for mortgage lenders to help homeowners. Tech-fueled Nasdaq can't hold on to gains.

PSEi - downtrend?

2008-02-13T08:35:00.000+08:00

PSEi = 3200.9 (0.7%)

PSEi formed a white candle with higher low and higher high. Volume decreasing.

PSEi still seems to be heading down. A saving grace though is the formation of a higher low with might be telling us that the bulls are trying to regain control. PSEi needs to form a higher high and higher low to give us a clear sign that the bulls have regained control.

PSEi still trading below the 32MA, 65MA, and 130MA. Bearish.

PSEi still has downward bias as can be seen by the supply line that I drew on the chart. PSEi needs to breakthrough this possible resistance line.

Good luck to all traders!

DJIA - higher low and higher high

2008-02-03T21:41:00.000+08:00

DJIA weekly formed a white candle with higher low and higher high. Volume continues to decrease for the 2nd week.

DJIA confirms bullishness by formation of higher low and higher high.

Good luck to all traders!

PSEi weekly - confirms hammer

2008-02-03T21:24:00.000+08:00

PSEi weekly formed a white candle with higher high and higher low.

Previous candle which looked liked a bullish hammer seems to have been confirmed by formation of higher low and higher high.

"...candlesticks with with long lower shadows and small real bodies. The real bodies are near the top of the daily range."
- Steve Nison, description of a hammer and hanging man lines, on his book Japanese Candlestick Charting Technique

Nison continued to state that:
"If either of these lines emerges during a downtrend it is a signal that the downtrend should end. In such a scenario, this line is labeled a hammer, as in 'the market is hammering out' a base. Interestingly, the actual Japanese term for this line is takuri. This word means something to the effect of "trying to gauge the depth of the water by feeling for its bottom."

I included this description from the authoritative book by Steve Nison on Japanese Candlesticks, as requested by an avid reader of the Technical Insider.

This bullish reversal pattern, like other reversal patterns, would be confirmed if succeeding lines or candlesticks form higher lows and possibly higher higher highs. Consequently, formation of a gap up with huge volume will most likely confirms a bullish reversal.

Good luck to all traders!

DJIA - continues rally or uptrend

2008-02-03T21:19:00.000+08:00

DJIA = 12,743.19 (0.73%)

DJIA formed a white candle with higher high and higher low. Volume decreasing slightly.

DJIA formed 5th straight white candle.

DJIA rally or uptrend continues.

Good luck to all traders!

PSEi - possible shooting star?

2008-02-03T20:59:00.000+08:00

PSEi = 3294.08 (0.90%)

PSEi formed a gap up white candle. Volume decreasing.

PSEi looks a bit tentative with the possibility of a shooting star formation.

"A shooting star is a two line pattern that sends a warning of an impending top."
- Steve Nison, Japanese Candlestick Charting technique

"... the shooting star has a small real body at the lower end of its range with a long upper shadow. As with all stars, the color of the real body is not important. the shooting star pictorially shows us that the market opened near its low, the strongly rallied and finally backed off to close near the open. In other words, that session's rally could not be sustained."
- Steve Nison, JCCT

I included this description from the authoritative book by Steve Nison on Japanese Candlesticks, as requested by an avid reader of the Technical Insider.

I hope that this is not a shooting star.

You can view from the charts that I placed a possible supply line that may serve as resistance for any further upward swing by the index.

Again, I hope this does not hold.

It was a good week for the index as it hit the parabolic SAR to signal a possible upward momentum and that the fast line was able to cross above the signal line of the MACD to signal a buy short both of which happened on 30 January 2008. These supported the possible return of the bulls.

PSEi looks poised to test the 32MA which serves as a resistance.

Careful traders...

Day trading notes

2008-02-01T11:21:00.000+08:00

DJIA +200 pts

Sold all of BDO at 53
Sold all of MER at 83.5 and some odd lots at 83

PSEi testing resistance at 3299, possible break of resistance

MER higher high and higher low, among most active
WEB higher high and higher low, among most active, possible huge volume
BDO testing support at 52.5

News from citiseconline:

1. The Philippine economy grew 7.4% in 4Q07, at the upper end of the government’s forecast of 6.7% to 7.8% growth for the said period. This brought full year GDP growth to 7.3%, also at the upper range of the government’s target of 6.9% to 7.3%. The full year figure also beat the 7.0% figure forecast in a Reuters poll. The government said it is maintaining its 2008 growth target of 6.3% to 7.0% despite the
expected slowdown in the United States.

2. The BSP cuts its overnight borrowing rate by 25bps to 5%. The BSP also decided to keep the wider availability of special deposit accounts, with rates aligned with the overnight rate.

www.citiseconline.com

Late Day trading notes

2008-01-31T17:32:00.000+08:00

Fed cuts interest rates by 50 basis points

MWC among top gainers, among most active
EDC among top gainers, among most active
MBT among top losers, among most active
BPI among top losers, among most active
GEO among top losers, among most active
MER still among most active

Monetary Board Cuts Policy Rates by 25 Basis Points

01.31.2008

The Monetary Board decided today to reduce by 25 basis points the BSP’s key policy interest rates to 5 percent for the overnight borrowing or reverse repurchase (RRP) facility and 7 percent for the overnight lending or repurchase (RP) facility. The interest rates on term RRPs, RPs, and special deposit accounts were also reduced accordingly. This is the fourth consecutive reduction in policy rates since October 2007.

In its assessment of macroeconomic conditions, the Monetary Board noted that the latest inflation forecasts indicate that inflation would fall within the 4.0 percent + 1 percentage point target range in 2008 and the 3.5 + 1 percentage point target range in 2009. Demand indicators continue to show some strengthening, indicating manageable price pressures going forward. Inflation expectations remain well anchored and liquidity growth has been decelerating on account of liquidity management measures adopted earlier in 2007. Core inflation, a measure of the underlying trend in consumer prices, remained lower than headline inflation in December.

The Monetary Board noted that the volatility in world oil prices and higher commodity prices remain the key risks to the inflation outlook. The firm peso, however, is expected to temper the impact of higher import costs on domestic prices. Slower economic activity in the US as well as globally could also moderate price pressures coming from imported oil and food. In addition, the reduction of the oil import tariff effective February is expected to reduce pump prices of petroleum products.

The monetary authorities remain committed to maintaining price stability and will continue to closely monitor evolving monetary and financial conditions, particularly the risks associated with the inflation outlook.
- from Bangko Sentral ng Pilipinas

http://www.bsp.gov.ph/publications/media.asp?id=1747

DJIA - fed cuts interest rates by 50 basis points

2008-01-31T17:23:00.000+08:00

DJIA = 12,442.83 ()

DJIA formed a white candle or is it a doji with higher high and higher low. Volume continues to increase.

Fed cut rates by 50 basis points. Interest rates now at 3.0%. I'm not sure if this is below the inflation rate.

DJIA had a wild ride. It surged up right after the Fed decision but moved back near its open, most likely due to profit taking and general bearish sentiment. I think the consensus is that since the cut in rates has been expected by the market it is already factored into the price of DJIA.

DJIA continue to form higher lows. It might be confirming that DJIA may still be bullishly rallying or might even be trending up (hopefully).

I do hope DJIA continue to form higher lows.

Good luck to all traders!

WEB weekly - piercing pattern

2008-01-27T21:40:00.000+08:00

WEB = 0.04

WEB weekly formed a white candle with lower high and lower low.

WEB weekly seems to have formed a piercing pattern. This reversal pattern will be confirmed if WEB weekly manages to form higher lows in the coming trading weeks. I hope it does.

Good luck to all WEB traders!

SM weekly - hammer

2008-01-27T21:31:00.000+08:00

SM = 297.5

SM weekly formed a white candle with lower high and lower low.

SM weekly seems to have formed a bullish hammer. This reversal pattern will be confirmed if SM manages to form higher lows in the coming trading weeks. I hope it does.

Good luck to all SM traders!

SECB weekly - hammer

2008-01-27T21:14:00.001+08:00

SECB = 70

SECB weekly formed a white candle with lower low and lower high.

SECB weekly seems to have formed a bullish hammer. The reversal candlestick pattern would be confirmed if SECB weekly manages to form higher lows in the succeeding trading weeks. I hope it does :)

Note: March and June 2007, SECB respected the formation of the bullish hammer and reversed the prior trend. I hope SECB again respects the formation of the bullish hammer.

SECB weekly seems to have formed support level at 68. I hope it continues to respect that support level.

NRCP weeky - hammer

2008-01-27T20:47:00.000+08:00

NRCP weekly formed a black candle with lower high and lower low.

NRCP weekly seems to have formed a bullish hammer. This reversal pattern would be confirmed by NRCP if it manages to form higher lows in the succeeding weeks.

Note: June 2007, NRCP weekly respected the bullish hammer formed and NRCP weekly was able to achieve a new all time high following the said reversal pattern.

I hope NRCP weekly again respects the bullish hammer reversal :)

Good luck to all NRCP traders!

MEG weekly - hammer

2008-01-27T20:34:00.001+08:00

MEG weekly formed a white candle with lower low and lower high.

MEG weekly seems to have formed a bullish hammer. This reversal pattern will be confirmed if MEG weekly manages to form higher lows for the succeeding weeks. I hope it does :)

note: on March 2007, MEG weekly shows previous respect to formation of bullish hammer

I hope that MEG again respects the formation of the bullish hammer :)

Good luck to all MEG traders!

GEO weekly - hammer or doji?

2008-01-27T20:14:00.000+08:00

GEO weekly formed a black candle or doji with lower low and lower high.

GEO weekly seems to have formed a bullish hammer. This reversal pattern will be confirmed if GEO weekly forms higher lows in the succeeding weeks. I hope it does :)

Or is this a doji?

In any case it can be considered a bottom formation where the market sentiment or rather the downward uncertainty has been measured by the long lower shadow, this also tested support levels. It is in my humble opinion that after that test the bulls returned to GEO and tried to close the week near its open, which might clearly have bullish implications.

Good luck to all GEO traders!

AT - bullish hammer

2008-01-27T20:09:00.000+08:00

AT weekly formed a black candle with lower low and lower high.

AT weekly seems to have formed a bullish hammer. This reversal pattern will be confirmed if AT weekly manages to form higher lows in the succeeding weeks. I hope it does :)

Godd luck to all AT traders!

DIZ weekly - hammer

2008-01-27T20:00:00.001+08:00

DIZ formed a white candle with lower high and lower low.

DIZ seems to have formed a bullish hammer.

This hammer will be confirmed if DIZ manages to form higher lows in the coming weeks. I hope it does :)

Good luck to all DIZ traders!

TEL weekly - hammer

2008-01-27T19:48:00.000+08:00

TEL weekly formed a black candle with lower high and lower low.

TEL weekly seems to have formed a bullish hammer.

This hammer will be confirmed if TEL forms higher lows in the coming weeks. I hope it does :)

Good luck to all TEL traders!