I've been "playing the market" for about year now. Finally, I've started to recoup my losses and make a little bit of money. A very little bit, but it's better than nothing. I'm talking about investing in the very bullish Philippine Stock Exchange. Apparently, only the Indonesian, the Malaysian, and the Philippine Stock Exchange (aka PSE) are making sizable gains.
I bought MEG, OPM, and OV last year. OV and OPM are still in the red, but I've made some money on MEG. I got so excited I sold immediately after I got my 10%. I should have held on and made something like 30%. It's OK 'cause I decided to buy energy (EDC) and made about 13% in three weeks, until I got excited again and decided to sell. If I still owned my EDC stocks, I would have made close to 30% in like five weeks. Yes, it is a bull market and, apparently, my online broker's target price of like Php7 from 4+ will be hit in a few weeks.
I've been aching to get back to real estate, so I got RLC after selling EDC. I was thinking about FLI, but I was seeing a downward trend with lots of players taking profits. RLC looks like it still has some room for fast growth. I've made ~2.5% in the past 2 days of trading, but I can see sellers outnumbering the buyers by a large margin. The numbers are like 1m sellers (asks) vs. 10k buys (bids). It seems like the rally is over. The broker's fundamentals-based analysis says Php19 (currently at 15+) is doable, but their technical analysis says HOLD. I wonder why lots of players are aching to sell. Do they know something I don't? If I sell now, should I buy MER or some mining stock?
We'll see what happens tomorrow.
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