Amidst the downtrend in neighboring Asian markets, the locals seem to be defending our market with steadfastness. It is visible with the blue chips and second liners alike, where you might see CLSA, DEUTSCHE, etc selling but COL, FIRSTMET, et al are buying. (Just see the summary at the end of each day). We Pinoys must be holding on to the long-overdue and very probable (based on history in recent years) uptrend that should happen until May.
This should paint a rosy picture, but on short-term, we're recommending patience. The entry must be right and as projected for the handle--in a cup-and-handle pattern--to form (see post last week).
We're retaining our watchlist from the previous week, holding on to our cash, and timing/hoping for the right entry.
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