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Tag: head and shoulders

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You may have seen a TV ad where "traders" describe their strategies, and one says, "I trade on fundamentals." That sounds very reassuring -- except that, on any given day, "fundamentals" are a mixed bag:

You might have a good U.S. employment report...but bad news from Europe
A positive Fed statement...but a negative housing number
Strong earnings...but slowing consumer spending

The Federal Reserve is holding a two-day meeting Tuesday and Wednesday of this week. Market participants are expecting the Federal Reserve to prop up financial markets yet again with some grand new plan. The fact is the Federal Reserve is running out of bullets.

Oriental Peninsula Resources Group, Inc.’s (ORE) performance in 2010 was stellar. Indeed, last year’s feat could be considered as one for the books. Unfortunately, this year’s story looks to be the exact opposite at least from the technical point of view.

Putting your money into the shares of Southeast Asia Cement Holdings or CMT in the Philippine Stock Exchange is a bad idea for me as of the moment. Well, at least that’s what its chart is telling me.

MEGa Breakout Today!

Posted by lytman02 on April 11th, 2011

Another good day for the Philippine Stock Exchange fellows. During awesome runs like these, it’s the best to take advantage of the opportunities the market gives. Many stocks especially blue chips rise but remember to lock up your profits and not be greedy.

Nickel Asia Corporation had its initial public offering (IPO) in the Philippine Stock Exchange last November 22 with “NIKL” as its stock code. The stocks had an IPO value of PHP15.00 then went all the way up to PHP23.00 within 3 months. From there on, it started reversing its course and consolidated to what could be a 2-month head and shoulders pattern.

Red Alert On Globe Telecom, Inc. (GLO)

Posted by lytman02 on March 8th, 2011

Don’t say that I did not warn you: Ayala Corporation – led Globe Telecom, Inc. or GLO in the Philippine Stock Exchange looks to be headed for a steep fall. Let me show you why.

Most Filipino kids love the food, especially the Chicken Joy, at Jollibee. While the children in general love it, its owners, the shareholders, might not feel the same in the near future. Let me tell you why.

Leisure & Resorts World Corporation or LR in the Philippine Stock Exchange has octupled its value from PHP 1.10 to PHP 8.80 in a year’s span which is an incredible 800%!!! This is an amazing feat especially for those who were able to buy the stocks at the lower levels. The company is involved in the realty business and developing and licensing gaming hardware and software programs for casinos.

Is USD/JPY’s Rally Over?

Posted by lytman02 on February 20th, 2011

After hitting a low of 81.08 last February 4, the USDJPY pair has rallied back to mark a high of 83.97 2 days after Valentine’s day. It appears, however, that US dollar’s push against the Japanese yen is starting to lose some momentum. As you can see from its 4-hour chart above, the pair has formed what looks to be a head and shoulders pattern with a neckline at around 83.10.

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