Didn't blog the pats 2 weeks since I got busy with midterm exams. August has been thought of being a bad month for stocks due to the "ghost month" effect which is predominantly a Chinese belief. Seems like it was true enough as global markets plummeted just as the PSEi have just reached its historical high.
At the end of the 2nd week, I am very much glad that my portfolio went back up to my normal levels of paper profits. This is all thanks to mining c/o LC and PX albeit being just a minor portion of my portfolio (at around 10% each). I am still bullish with my current holdings, what worries me is my UITF which suffered greatly during the crash. Technically, I should have cut my losses at this point, however, there seems to be a chance that it could also recoup its losses within the month. Right now, it is still only the Philippine mining sector that makes the market alive. Once the property sector kicks in, then the bullish party is on.
What is my pick for the week? Most probably mining.
Friday, August 12, 2011
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