The owners are buying, foreigners still selling

The foreigners are still selling (by the billions at that), but our market is demonstrating resiliency. Resiliency to the point that the bounce is high and seemingly persistent. Why is this?

It pays to read disclosures and you can see that the owners are buying. the Cos of PGOLD, the Laos of DNL, even the Concepcions are buying. This means that they think that their company was cheap after the steep sell-down, and that the their business is still growing.

I have PGOLD, MBT positive as a result. (MEG should have been in this list). Thinking of selling at +5% (going back to that strategy, yes), until the foreigners start at net buy, however small it is, just so long at it is consistent.

Notes on the bloodbath

WEALTH is still selling hard. Where will this fund put their money? Are they placing all their eggs on a FED rate increase this year? is this local fund using the money to bet against the PhP?

I should have added fast on MEG fast and sold at +5%, but I did not.

Added on TA at 1.7. Studying DNL.

Added on PGOLD at 30.

50% cash position now just 20ish %. Ready to add more cash in fund, if needed.

My bet is that our market will disentangle for China's. As long as the OFW's are still sending in money and there is no local bubble, I wont get out of equities. Remember: these are the same companies with the same markets as before the downtrend. (It's a different tune though if there's going to be another regional crisis);

Im back to zero year to date. But I won't forget that the big gains I harvested in 2014 was from when our index increased from 5800 to 7400 in just over 12 months. When stocks like TA rose from very deep at 1.4 to 2.4, SECB from 110 - 160, etc.

I'll be doing weekly picks again.

Doomsday!

I have to go back from my hiatus to write about what's happening in the 3-hour stretch in our stock market.

They have been feeling this in China months ago, it seems the funds are saying it's our turn.

BUT the funny thing is--the leading sellers that our bringing us down are LOCALS--Wealth and COL, ladies and gentlemen. We have to ruminate on this.

As readers of this blog knows, my trading is a series of placing good-to-cancel sell and buy points after or before office hours and only got to peek usually on lunch breaks. I have a hectic day job, incidentally, in one of the blue chips. Imagine my surprise when I saw today MEG being brought down in double figures!

In the mean time, my buy points in MBT, AGI, PGOLD, and TEL have been hit today. I still have plenty of cash position. Now, selectively choosing where to add.

My gains this year are all erased! But on one side, it's exciting to blog again!