New Trading System, Old Tricks

Hi folks, apologies that I was not able to post anything last week. I was inundated with work and other things last week. Nonetheless, I tried my best to observe how the new system works so much that I forgot to buy WEB.

WEB.. that stock that was sold continuously for days or weeks and I always told myself, "I'll buy this soon." Suddenly it had a life of its own and from about 12.25 last week flew to 16.50 this week, more or less. I just sat, watched, and woefully, did nothing. 30% in just one week, beats the hell out of an 8-5 job right?

After some early personal skepticism, I realize now that you can still make money even with the new system. By system I mean the new board lots. System could be the program a broker is using. I'm not a broker. But I could be one soon, if I don't have any savings, hehe.

Stocks that had no fundamentals (I suppose), i.e. basura stocks were also active. One that caught my eye was SLI. Even with the new board lots, I'm sure that day traders still managed to rake in good profits. I just wonder about the accuracy of the charts. Perhaps this time around, instead of looking at the chart, just looking at the ticker would do the trick.

One thing about the new system was the very lackluster trading on its first day last July 26. The turnover was terrible, not that I traded anything. So far, it seems that the 1 centavo fluctuation (changes depending on the price of the stock) hasn't turned off that many traders. That's definitely a good thing.

I'm also happy and equally surprised that our index is now at 3,500. If there's follow through buying tomorrow, then I suppose this bull run still has four legs to go. If there's a correction, well, that's nothing to worry about. My technical analysis alma mater, Absolute Traders, has this absolutely interesting chart analysis.

I suppose what was said in the Money Talks seminar that a new President brings with him/her a strong stock market performance is holding true. History repeats itself. With Pres. Ramos, Pres. Estrada, Pres. Arroyo, and now P. Noy.

So, as I always say, appreciate the risk first, then appreciate that capital of yours!