Monday, January 21, 2008

Shares close lower for 6th straight session

I do not trade stocks yet, I am more into forex and gold trading than stocks. The PSE today, shares close lower for 6th straight session. The question I would ask is, until when the drop would go?

The economy is relatively doing good.
The crisis is in the US, and their stocks and currency is dropping too.

Is their light in the end of the tunnel?

Of course yes, my guess is, tommorow would be the best time to buy - stocks are oversold because of fear - its value are still intact, IMO; so there is going to be a rebound sooner than later.

For a quick profit, buy now, and sell them a few days later when the rebound is over - use the Fibs wisely and earn your target profit. Goodluck.


Let us wait for tommorows close, and I'll report back here.


On the news today from PDI:

MANILA, Philippines -- Stock prices finished lower Monday for the sixth straight day to its worst close in five months but recovered towards the end of trading due to some bargain-hunting, brokers said.

Bargain-hunting supported select blue chips but most stocks remained under pressure, including market heavyweight Philippine Long Distance Telephone Co. (PLDT), which fell in line with the 3.0 percent drop in its American Depositary Receipts last Friday.

The 30-company composite index ended down 16.00 points or 0.5 percent at 3,152.30, its lowest close since August 22 when it settled at 3,139.46.

The broader all-share index lost 2.94 points or 0.2 percent to 1,952.32.