An OFW who have a very limited access of information on PSE-listed companies can profitably trade/invest in the Philippine stock market.

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The blogger is an OFW in the UAE waking up 10 minutes early to do his everyday trading. :)

Wednesday, 8 September 2010

Another Forced Close?

Another roller coaster day for the market, opening up weak in the opening ending up strong at the end. I dunno if this is still done by foreign investors forcing the market to end strong or just a coincidence happening two days in a row.
As usual, I'm a bear when everyone else is a bull. I'm also expecting a correction tomorrow because the market peaked again and there is another long weekend ahead. I happily sold my PNB at 47.80 with a net return of 15.6% and my BPI at 54 with 11.28%. I held these two stocks for around 2 weeks only. My stocks are now returning 42.7% effective annually with 35% cash on hand. 
I'm planning to buy back some blue chips tomorrow if a significant bargain is there, or sell all my stocks anytime when my target of 50% effective annual return is achieved.  :-)

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