BSP's announcement this week and the continuing posturing of Russia do not bode well for us retail investors in the PSE. I also dont like the picture of foreign selling in some of our index stocks.
My hulanalysis tell me that there's a chance that we will tumble down to just below 6250, then it's a big up or a bigger down after that point.
If we go below that... then it's going to be painful cutloss time again. The situation is good for us who sold many positions at +5%-8% and dampened greediness for any thing more. I wrote here many times the past few weeks that this is not the market backdrop yet to wait out for double-digit gains before selling. We are not yet in a clear uptrend. As good as my cash position is today, of course a 5%- 10% down will still be very painful for remaining positions.
Anyway, for me, the possible consolation are reentries to favorite stocks that I mentioned in the other post. Otherwise, it's a toss-up. It seems I wont buy and enter in new positions in the next few days. And my fingers might be ready to cutloss more than sell for profit.
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