Random Notes

I was not able to follow the plan to enter CPG at opening (nor at my previously set 1.87 last evening), because of an early meeting at work. When I was able to peek in Firstmetrosec, the price is already hovering near 2. That's not attractive any more considering that the 10% projected short-term gain (including the upside that already happened last Thursday) was already hit.

When I opened again an online broker around lunch time, i was surprised to see my GTM buy at 25.9 in AGI was hit. I set a day sell price at 26.95 arbitrarily by 130pm and was doubly surprised when it was hit at closing. AGI is among the last I expect to do a day trade with, but thanks to 1 K PhP+ nevertheless. I wonder what will happen to the stock tomorrow after the IPO day of RWM. Whatever happens, Ive set again a GTM buy at 26.

I did not submit a reservation form for RWM primarily because of its 27 P/E at IPO. I would have preferred Andrew Tan to have chosen a price below 20 P/E to compete with BEL's 20 - 25 P/E. Dr Tan and his advisors should have added as a consideration that BEL hasn't even opened Belle Grande yet (growth potential not yet fully unlocked for this competitor), while RWM has already been operating for some time (growth in even in terms of gaming table are already closely monitored by analysts).

However, BLOOM is trading at 35 P/E - 42 P/E at any given week, and RWM is still slated to expand in Pagcor City, so I might still participate at opening tomorrow. Guaranteed though that i wont hold RWM later than Friday closing.

I sold half of my RLC at near breakeven. About 80% of this position is from the remnant of its 25 PhP peak last June, which I averaged down in only lightly during the steep downturn. The fire at Galleria is not good for projected holiday revenue. In fact, I never thought this would go back to 23+, and thought I should take advantage already and unload some shares. Now the wishes are 1) to be able to buy back same position at 20 - 21.50 range before the year ends and 2) for Galleria to be open again before December, and 3) for the shops inside Galle to conduct a fantastic fire sale a la Shangri-La in 2010.

The 6800-in-2-weeks that I was projecting and pining for did not happen, probably because of the parsed statement in the FED minutes meeting about the powerful regulators hinting that QE tapering might start in December. Fund managers apparently have put more weight on that hint instead of holding on to the clear statement one month ago that the Fed wont start reducing bond buying if unemployment remains above 6.5%. I, for one, am constantly monitoring statistics a this site:
http://www.bls.gov/news.release/empsit.nr0.htm