Longneck’s UCC’s (Useful Chit-Chats) Nov 17 ‘09
November 17, 2009 by longneck
The market despite the Dow’s 130pt rise overnight and the $20 rise in gold did little to assuage investors from putting their money on our down logging mining issues. PX led the drop, as it still failed to reverse its course, but my stand is to BUY this below P14.00, as I feel today’s subdued panic is a sign that support is strong around these levels…
Other mining wannabes followed suit, led by CPM which clearly became another sell on news thingy. NIhao still look to be well supported at P6.50, hopefully for NI holders and if Sir JAP is listening or reading, please do support this at P6.50 (hehe)
Our main index 20pt rise was just largely attributed to MER’s P16.00 rise, and worth 19 psei points. FPH seemed to have turned the corner, as I was saying the other day about rotation.. MER could be suppressed at the P226 levels, while FPH could find the going tough around those P54~P55 levels.
Rotation also seemed to have found its way to banking issues — with RCBC being the strongest, MBT at P44.50 seller’s was gobbled up at the close, I see a P50 in my crystal ball for MBT.
LIHC, another star of today’s show, now at ELEVEN P11.00 though forced close still.. But a convincing break above P11.50 could yield a TEEN-ager son for Sir Chucky..
I played bouncing balls at MPIt camp today, as promised from my UCC’s yesterday. This bouncing ball could take us up all the way to P3.15~P3.20 hopefully, before we deflate this ball again..
PAX’s rally came to a stone wall at P3.60, but I believe this is still a BUY on the dips.
Lastly, do not believe everything you hear, and do filter …
Let price action do the talking… and what do we do? We listen …>>>








bilis naman nito
nasa mood kasi, boss D…
sirD, cant access stockforum, any problem?
oks naman. must be pldt