At the end of the day, the market does what the market does. As such, the “why” is of secondary importance. What’s more important is “what to do” and “how to react” during these turbulent times.
Index closed up by 130pts or 1.5%. Curiously, there was significant movement on close from index heavyweights ($SM, $AC, $ALI). Good bounce from the 9SMA, and today’s action seem to negate the long bearish candle last Friday, continuing the bounce since Oct27. 8600 resistance coming up.
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PSE: FNI is now at 2.77 which is the 23.6% retracement from Nov2016 highs and 2.33 lows / support. Can the stock break the resistance this time with a slower pace (almost 1 month) compared to previous attempts which were faster and steeper? Or will it be another failed attempt? Other indicators such as stochastics, MACD and RSI are still supportive of a further run.
If the market is on its way to recovery, then I’m pretty excited about the upside, if not yet, then more chances to buy.
We should not fall in love with any stock, and we should be able to sell the slow ones (with no attachments) as soon as we find better alternatives.
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If it’s negative news then people tend to sell on news. Trick here is to be fast because before you know it, the price has already plunged to irrational levels only to recover in the next few days as the market digests the actual impact of negative news. Selling during the plunge itself may force you to sell at very low prices which you might regret tomorrow.
Whatever your motivation may be, all we know is that every Juan should invest, and every Juan can invest. Now here is the S.M.A.R.T way to invest: