Manila, Philippines

Technical Analysis: Philex Mining (PX) and SSI Group Inc (SSI)

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Caveat emptor. No buy or sell reco, no hype. Trade at your own risk. Read our disclosures and disclaimers here.

We took an interest on PSE: PX around 5 days ago (see previous post) and back then, signs were not encouraging for a fresh new entry. After that, PX posted 3 bearish candles the next 3 trading days.

Today, PX showed a green candle. Made a small position on PX today for my tsupit fund (TF). Let’s see if this is indeed a bounce and start of wave 3. Markets also awaiting confirmation on Gold breaching resistance. We’ll see tomorrow whether PX has finished its dip and is now ready to resume its uptrend. Fingers crossed.

Also made a test buy on PSE: SSI, again for my new tsupit fund (TF). Under the same premise that SSI is now ready to climb. After the long bullish candle to start Feb, SSI did not gain much ground in the succeeding trading days. But it seems to be forming a flag waiting for a break on the narrowing channel. Waiting for newcomers? 

Today’s trade though showed some encouraging signs.

Did we make the right calls? Only time will tell.

Lost coffee money on PSE: FNI and PSE: BLOOM yesterday. I guess I was too late on the market interest on FNI (or should have chosen NIKL) while I made a wrong choice between BLOOM and MCP. Hope above bets do better.
Market significantly up today even if I thought it will be weak today given yesterday’s sluggish showing and after 5 days of uptrend. How the market behaved today was a pleasant surprise, ending above 6800 but still, I’m not getting my hopes up. 
Thanks to PCOR, DNL, and MBT for improving my long-term fund (LTF).

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