Tuesday, August 27, 2013

just charts: quikie (27 aug 2013)

phisix chart as of 12 pm lunchtime, 27 aug 2013 
(click on the chart to enlarge)


1. the phisix ended halftime 27aug2013@5893 ... breaching the psychological 6k and 5900 supports ... the drop was led by ali, tel and sm 

2. the histogram continues to slide down ... same with an already oversold sts ...

3. questions ...

will the index go lower? who knows? anything is always possible .... 

am i buying? hahaha .. the regular reader of this blog should already know by now that i dont catch falling knives nor do i bottom fish ... im not a bouncer .. im a waiter ...

so what to do? like all waiters ... just wait ... now is the time to practice patience .. just let the charts tell us (by us .. i mean .. us waiters .. not intraday traders ... not tsupiteros) when is the safe time to reenter the market ... the momentum is still down ..  wait until the momentum has already changed ;)

and when is that? when the chart clearly says so!

for an explanation of the indicators ... click: here 
for reference .. you may also want to read: my trading rules

p.s. readers are encouraged to check out the stocks' charts themselves .. using the values for each of the indicators (the values for the indicators are the default values used in citiseconline.com's charts) ... in the absence of any personal charting program, the pse website's charts are enough for the purpose