Trader's Logbook

FDC may soon test its support at around 4.90 – 5.00 and it seems bears are ready to take the center stage if bulls will be lax. This bearish bias is reflected by today’s candlesticks which is a Shooting Star. Although it has a low reliability, there are times when this star causes sleepless nights. Fortunately we [...]

Another stock that shows an indecisive mood at market’s closing. ALI was up few notches but settled with only a meager gain at the closing. Is it bound to correct soon? Although a Doji is not that reliable with regards to trend reversal, one should still keep guard with the position. Psychological resistance at 28. Caveat!

It looks like PSE is ready to correct at this point in time. A medium reliability Gravestone Doji can be seen on its daily chart after the market closed. Gravestone Doji is a pattern wherein the opening and closing prices are at the low of the day. The Bearish Gravestone Doji Pattern is a top [...]

PSE index in red which close -0.45% to 6,242.74 Some blues that correct where GLO, BPI and MER. PRIM is on its second day ascend although we see some bearish sentiment when it retraces from 30% to 10% TA is down by 4% while CPG was able to make a come back and just shell [...]

EDC made a good opening last Monday and continued the ascend on Tuesday but seems a correction might be felt in the coming days as we see an Engulfing Pattern on today’s chart. Will it dip to close the gap made last Monday? Engulfing Pattern needs two candlesticks where the first candlestick is a small [...]

MEG jump at the opening to start at 3.34 instead of dealing with the 3.33 resistance (which is now our support). Although MEG hit the 52-week high I think 3.33 is still the support as of this time. Today’s trade was heavy at 3.40 level where it has 20.4% of the total volume. White Marubozu [...]

Nice rally by PGOLD today. I thought it will not be today that it will hit 35 (PGOLD: enjoy the ride) but it did. Are we going to see it correct in the near future so others can join us? Let us see what is in store for us this week. Caveat!

MEG broke the resistance at 3.33 when it jump at the opening to open at 3.34. It closed at 3.49 with a 5.76% change from previous price. PRIM made a rally and closed at the ceiling following the 1 hour trading halt this morning. Bull trap or what? BPI did a rally and went as [...]

U.S. stocks near five-year highs, as reported earnings beat estimates. AC, GLO, EEI, IP, EG, LTG, SMC, MEG, I, MER, PNX, Mactan-Cebu International Airport, GDP, Nouriel Roubini International Dow    13,954.42 up 72.49 pts. S&P    1,507.84 up 7.66 pts. U.S. stocks advanced, sending the Dow Jones Industrial Average to a five-year high, as companies including Pfizer Inc. and Valero [...]

Looks like there is a family trend created by BPI. Will the Doji going to follow the trend or it will do a different style this time? While general trend is upward, we see trend where a Doji at the top of the slope causes the price to go down and then touch the support. [...]

Low reliability candlestick called Hammer can be seen on COAL’s chart today. Is it the start of its bounce or just a fake signal? There might be a chance it will go up but chance might be slim since Hammer has a low reliability. BUY signal on RSI is not reliable either because of the [...]

Are we heading for the 34.9 – 35 this week before it will correct to form another continuation pattern? PGOLD is steadily going up for a few days now. While it is taking small steps, bullish bias is still intact but with RSI also climbing up, this might correct soon. As of now, enjoy the [...]

After staying most of the time at 3.2+ level, JP Morgan broke the 3.3 mark less than an hour before the closing. MEG closed above the resistance level of the consolidation area but yet another resistance from the 52-week high at 3.33 is stopping MEG to move forward. Are we going to see a break [...]

Another rally by the heavy weight MER which closes at 299/share. CPG still managed to stay above 5% after the bears tried to stop the bulls. TA made it to the top 1 with 15.86% change. BHI went down during the day following the not-so-good news but recovered at the closing. PHES on the other [...]

U.S. stocks were little changed as a drop in pending home sales offset a rise in durable goods orders while investors watched earnings. BCOR, BDO, GTCAP, Toyota, ICT, JFC, MEG, MER, GBPC, PX, PXP, RFM, TA, PPP, GDP, credit rating, Peso. International U.S. stocks were little changed, following the longest rally for the Standard & [...]

Looks like DNL is creating a stairway going up. Noticed how it makes a horizontal line after the ascend. Is this a stairway to another all time high or a ramp has been created waiting for the diver? A lot of times, DNL doesn’t look at the Doji as a reversal signal. Caveat!

SMPH is in the mercy of the middle band at this point. It looks like the newly found support line is not yet that strong. But let us see if the price will hold above the middle band or else we will have to find support at the 23.6% Fibonacci Retracement level. Recently there where [...]

Good rally for PGOLD during the morning session as it went as high as 33.90 but bears where quick to stop the rally and was able to bring the price a little lower. It close by 1.52% Looking at the chart, PGOLD shows a bullish bias as it break from the slope but with the [...]

The heavy weight MER went up by 3.37% following the disclosure about some “partnership”. CPG also went up while trader’s favorite APM went down by 2.55% Check the rest of today’s top gainers and losers # Stock Code Last Change %Change Value 1 RPL 9.4000 1.3700 17.06% 162,572 2 TFC 20.0000 2.0000 11.11% 34,000 3 [...]

US stocks rose for the week on better-than-estimated corporate earnings, economic data and temporary suspension of debt ceiling. AP, CEB, CHIPS, FOOD, OV, OPM, PXP, GTCAP, PBB, PNX, SVN, URC, Reserve Requirement. International U.S. stocks rose for the week, capping the longest stretch of daily gains since 2004, amid better-than-estimated corporate earnings and economic data as [...]