I am now in the 2nd phase of my investment experiment involving the timing of the market via the use of Equity Fund investments. 1st phase was to identify and confirm that the market is on its bullish state.
The Strong Buy indicator pointed around 5 days ago, however it took a day of hesitation plus another day to withdraw my Money Market funds before finally shifting it to Equity Fund. The delays led me into buying at a high.
Hopefully the trend is truly bullish for at least a month (of course the longer the better) in order for me to gain. The latest candlestick may indicate a bullish inverted hammer, which requires higher prices than today's close at 4391. So far, Equity Fund is at -0.50%.
Right now, I am 70% invested on Equities. With the recent bailout of Greece (although temporarily as it is also seen as a soft default) and good jobs numbers in the US, I hope next week would be another green week. Unfortunately, as of this writing, DOW is -.97%. Probably it is the long due correction, and the PSEi would just mind its own business.
The Philippines' business climate is rosy as ever, with favorable credit ratings (already near investment grade) and looking forward to earnings releases, these should be enough to drive the market up high. The minor bottleneck regarding foreign ownership ratios on some companies have been resolved through PLDT's issuance of voting preferred shares.
As for my trading plan for the week (involving current holdings):
Strong Buys would be FDC and TA which I would buy on dips (5 and 1.11 respectively).
On my watchlist is ELI due to its very huge volume buy today. If ever it gets to dip at its major SPT at .73, it would be worth looking for a buy.
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