And rally continues throughout our Bear Market Play of the Quarter.
For our very own PSE, It went off to huge rally back to its 4150 breakdown point, I am amazed how strong PSE is, but we aware, it might not be thaat strong as what you think, big players MAYBE or ABSOLUTELY just hitting things up, so they can get out of their huge portfolios, catching attention to bargain or noobies who dont know how to trade this market yet.
There were a lot of range trade plays through this Play equivalent for individual PSE stocks, some are:
BDO - 45 to 52
PNB - 45 to 52 as well
MPI - 2.7 - 3.0 (but this is risky because of high P/E ratio)
EDC - 5.4 to 5.8
and some other more.
At this point in time, while we expect DOW to calm down in days time, another rally should spike up to DOW and global markets, before a series of meltdown happens around end of Nov to early Jan.
My one an only tip = unload at the 4150-4180 resistance.. Or sell what you have bought at the 3700 level. Its a good 20% money making play already. Be aware, while this rally continues, We may encounter a false breakout to an intraday high of 42xx, but dont be attached to it. It may be a bull trap.
My Reason - I still follow and stick with the DOW forecast of after the Primary Wave B 1-2mos rally, another storm comes with a possible target low of 9000 for DOW. Better be safe than sorry. Gain is a gain.
Stay in cash is still the best strategy at this moment.
Personal Disclosures: 75% cash, and 25% equity, and planning to unload the remaining at the 4150-4180 resistance.
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