Post #6: We are back above PSEi 7000

Philippine index closed at 7050 today, up 83.84 points from yesterday. I would prefer it that the index stays above 7000. I I'll be closely watching all my stops at this level.

$STI

chart by www.bigcharts.marketwatch.com

Bought some STI today as it broke its resistance convincingly. Will closely watch price action the next few days and see if it stays above .80 cents.

$BLOOM

www.bigcharts.com

BLOOM seem to be finding it hard to break resistance. IMO, it need to break P7.00 convincingly to get my attention.

$NIKL

www.bigcharts.marketwatch.com

NIKL showing strength upon breakout. Will wait and see price action after this breakout before considering taking a position.

$MCP

chart by www.bigcharts.marketwatch.com

MCP is showing a lackluster price action lately, but it stays in my port as long as it holds above P4.00. Price is tightening and volume is drying up, a good sign if you ask me.  Will give it a few more days before deciding on my next move.



Remarks: 

In port: STI,MCP

Watching closely: NIKL,LIHC,BLOOM

FNI - should break above P4.00 soon, support at P3.50.

Yellen hinted that an interest rate hike is inevitable, most probably by December.