How’s everyone? I know I haven’t been writing posts over the past few days as my schedules have been quite busy but I try as much as possible to post stock market related items in both my facebook
. I will do my best to write again as much as I can. I would like to thank everyone who attended my talk and book launch at the Financial Fitness Forum. If you want to catch me in more talks I will have some in Manila
, Qatar, Australia, New Zealand, Singapore, and UAE
over the next few months. So I hope to see you there! Also, for those who have not watched Batman V Superman yet, I encourage you to watch it! It’s the best comic book movie to date!
After reversing from the downtrend last March 8, 2016 and turning fully bullish last March 14, 2016 the PSEI has started an amazing run which has led it to an intra day high of 7,412 last March 21, 2016. After hitting that the market is has experienced a resistance for the past 3 days at that price range. Which should not surprise you because investors will always find ways to take profits off the table. The question is though, is the selling strong enough to take the market away from it being bullish?
At this point, it is yet to be seen, as buyers are still stronger than the sellers. As what I always tell people in all our talks and trainings
, your goal as an investor is to stick to your trading plan and follow it no matter what happens
. You stick to your own conviction based on the proper fundamental and technical analysis principles. Both schools of thought do work and you just have to find a good strategy that fits you.
Here’s how the market may go the next few days:
Scenario 1: If the market fails to stay above 7,370 we can expect the market to correct to around 7,075 in the next trading days.
Scenario 2: If the market goes above 7,370 it now has a chance to go to 7,680 for the first time since August 2015.
For investors and position traders:
If you are an investor or a position trader at this point it would be good to continue to hold as long as the market is still bullish.
For quick traders:
For those those trading quick, you may take profits should the market fail to stay above 7,370.
If you are wanting to buy:
For those that want to buy, watch if the market drops and bounces off 7,075 so you can buy at a relatively cheaper price.
For those who have been doing well over the past few days, congratulations! I hope that this blog helps you even more. For those who are still learning the ropes and may have committed mistakes, continue to practice and try to forge your craft. One of my greatest desires is to see you walk in financial freedom and I do hope the stock market is one of the ways to bring you there! God bless you!
I’m excited to share my latest book, Where Should You Invest? This will answer one of the biggest questions on the what, where and when you should invest on. I will also tackle the concept that there are certain investments that work well with others and some investments that don’t work well at a certain investment phases.
This is aimed to help investors have a holistic sense on how they can grow, maximize, and preserve their wealth!(Stock Smarts Book 4 is also coming this year)
To order: http://goo.gl/forms/AaciOAg92H