Before the Year 2011 Ends

Supposed to be a November 2011 report, however, it's almost mid-December already and trading days may be halved due to the holidays.  With the ongoing sideways movement of the PSE market, I have started liquidating my earlier positions then enter using technical trends.  Due to the sudden downtrend last September, a lot of stocks started reversing towards a positive trend and so I see this as an opportunity to recalibrate my portfolio.

Below is the new composition of my portfolio.  I have significantly reduced my position in AP due to its laggardness (been holding it for a year) and entered into a lot of faster moving stocks.  I did a lot of short term trades lately and I think I'm doing relatively well considering I'm faster in cutting my losses short and taking profits.  I now practice turtle trading, and I love it!  November losses were neutralized, though a lot of cut-loss trades are yet to come this December care of my repositioning in AP and the more recent drop in PX (due to the Ongpin insider trading hearings).

 I know before that I vowed to limit my stock holdings into probably 5 only; however, my new strategy is to apply trailing stops and take profits at breakout levels.  I do have to remind myself that this would be for a sideways market.  Not sure if this would be doubly effective on a bullish one.

In terms of my Fund Performance, I still beat the index but only more than a 100 basis points.
PSEi:  2.13%
ScIoN: 3.30%


One of the main reasons for my Fund's underperformance (from expected) is the delay in FDC's follow-on offering.  I just hope the Gotianuns or whoever their equities guy is, would start pumping up FDC prices, to be able to offer to the public by 1st quarter next year.