Post # 8: MCP out

I was convince that $MCP broke its support at P4.00 that I took a small loss and closed my position.

I figured that I can always go back if things look interesting for me again.

I always try to respect my stops. Not doing so caused me great losses few years back.I will never make that mistake again.

chart by bigcharts.com

My position remains in $STI for now. I expected it to range inside the box (.90-1.00+) for a while. Although I do not like the direction of the general market, I'll give $STI more leeway for it showed itself to be resilient.

The index

I am seeing the index ranging between 6800 and 7000. Either a breakdown or a breakout of that range might be at the horizon now, and it will determine the direction that the index will take.

I am not really intending to add to my positions for now. I want the market to show me clear directions before committing any more funds. I will just watch the stop of my current position while waiting for a better market condition.

Post #7: Psei below 6800

The index is once again below 6800 and it is almost confirmed that it is going to continue showing us a lower low trend.

One reason I wasn't able to update this blog is the fact that I actually did nothing these past few weeks.

My port is still consist of $MCP and $STI, with the previous showing lackluster price action and the latter proving to be being resilient.

$MCP will still stay in my port as long as it stay above P4.00. $STI initial support will be P.90.

I'm not even following the market real-time right now, I'm just watching my stops from time to time.