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The Phisix daily chart

updated every Fridays, last update - 3/16/2012

 

Parabolic Spike in the Works?

charts are courtesy of Metastock

 

 

Legend: blue lines - range for Tsupiteros

            dotted blue lines - range for Position Traders

            red lines - important trend lines

 

Short-term Traders/Tsupiteros: Medium-term/Position Traders:
Support - 5000 to 5030

Support - 4850

Resistance - 5180 Resistance - 5210
Trend - Up Trend - Up
Recommendation - Buy Recommendation - Take profits

 

The PSEi broke above its resistance at 5070 and has catapulted to the upside. At current levels, we are now just 55 points away from the marketís medium-term resistance at 5200. The question is, are we going to stop there? From the way I see it, the market is now in a parabolic spike. What happens in a parabolic spike? The bulls capitulate and prices go vertical. If so, then, we may actually break above 5200 and head to levels where people never expected the market to go. 5300? 5400? 5500? Your guess is as good as mine. Mind you, however, that parabolic spike mark the end of the trend. Thus, the tricky part here is that, although prices will accelerate upwards, the forthcoming correction, if indeed we are in a parabolic spike, will also be equally violent. I canít blame Tsupiteros if you took profits from your positions yesterday, only to buy it back higher today. Just place mental stops on the break below the 5000 level. Position-traders, o the other hand, are recommended to capitalize on this parabolic spike to start taking profits from your positions.

 

Notes:

Short-term Traders/Tsupiteros vs. Medium-term/Position Traders: Recommendation for short-term traders or Tsupiteros are meant to be used by traders whose holding period are limited to one day to two weeks. Medium-term or position traders are meant to be used by traders whose holding period are two weeks to three months. Long-term investors whose holding period is more than three months should not follow these recommendations.

 

 

 © 2006. Miko S. Sayo. All Rights Reserved.