I wonder why, most financial institutions, starting to 'hype' again the PSEi. They started publishing their 'bullishness' when we went above 6200-6250, it's a common trait that when the index already rallied 5% or more, we join the bandwagon and forget the technicals.
It is not bad to join the bandwagon, but I feel pity on some of them since they are the ones who are bearish when we are already at 5800 and asking for more downturns(5400). Then now at 6200-6300,they are recommending BUY-ON-BREAKOUT,BUY-ON-DIPS.
That's why I don't read much others forecast because they are full of emotions... Recently, I posted the ff:
Jan 3,2014 - Selling pressure could be over near 5700-5800 and very low chance 5400 is happening.
Jan 8,2014 - Some PSE stocks have bottomed or may be forming a bottom(attached lots of PSE stocks and BUY targets)
Jan 10,2014 - A whipsaw alert was given, with a target 1st support of 5850 for BUYING. It happened!
Jan 21, 2014 - Reconfirmed and re-adjusted that short term uptrend forming for PSEi with minimum targets of 6100-6200.
I am pretty much happy, got 4 out of 4 for PSEi, yet I am half hearted that I did not go "ALL-IN" besides my gut feelings. I am still brought down by other's blurry forecasts.
Anyway, 80%-IN is still good for me. With some more cash in Time Deposits/MMF. Lets cheer up and find out what resistances are in the near future!
-US may have continued to extend its rally, before the anticipated P IV
theamazingchart.blogspot.com
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