Market Skim Through--August 02, low volume Thursday, watch out for bargains Friday

Volume was low yesterday. Market was able to inch-up a gain in ending, performance of index components are widely varied. There are big foreign sells in MEG and MPI, which I think are not warranted fundamentally. This could be a 'dump fake,' as I mentioned in a previous blogpost that if local funds follow, my own move would be to grab that bargain... in tranches. MPI, a solid conglomerate with a clear growth plan, should be among the stocks to spike-up when Moody's releases its upgrade. I should start to accumulate below 5.10, but I might buy some already at 5.23.

(MVP is still one of the better Chairman/CEO in the country)

I have also re-positioned in ALI and AC yesterday as part of the bet that 1) these two will be among the first to jump  after Moody's report and 2) their prices today are good.

SCC is also a good stock to reenter for me. The company's growth path is clear and it is one of the most resilient during the downturn. A price below 239 is a trigger for me to reenter.

So it is going to be a watch-out for bargains in the next few days. Buy in tranches (do not go all in) and use the guide posts of range trading. Rules also serve as protection if, indeed, Ghost Month is starting to eke in.

Good luck!