Monday, April 29, 2013

touche'!: a reader reacts (29 april 2013)

fm reader:

Gud am,

Medyo nalito ako sa latest BEL blog mo. Overbought na si RSI and STS. MACDO pointing down. RSI din medyo pointng down na. And you still bought on Friday?

I think one consolation is the DMI is pointing up (possible continuing uptrend).

Are you riding this because of the 52 week high status? And for the fundamentals?

Thanks again for any comments..

my reply:

hahaha .. good observation ...

i bought bel just to have an initial position .. without even looking at the chart ... well if u want a chart justification .. breakout sya sa 7 pesos ... :lol:

yung 52 week high status is not enough reason to buy bel .. kasi if totoo yung rule .. sa tuesday e bababa yan .. tuesday should be the time to buy bel .. pero i still bought nung friday ..

aftertot na lang yung breakout and fundamental justification (the 1Q 2013 income makes bel too cheap at this price na)

in short .. tama ka ... i just violated all my rules based on the indicators you mentioned above ... pero gusto ko lang mag ka bel nung friday .. oks lang ma whipsaw

tnx for your reaction .. and for reading the blog :D