Our market recently fell below 3,000, only to recover last Friday. Has the market finally found its peak? I would have wanted to review the chart, alas, I don't have any.
Some of the stocks that went up (and that really caused me to raise my eyebrows) -
Atok Big Wedge (Ticker: AB)
Macondray (Ticker: MRAY)
Philrealty Holdings (RLT)
LIHC went to as high as 12.75 sometime this week and then fell to 10.00 before closing at 10.50 Friday.
I'm just going to repeat my message - be wary of the market. Speculation is the name of the game and the bubble that it will create could burst soon.
The dollar is picking up. My personal opinion is that the dollar will increase in the medium term. But, in terms of the relation between peso and dollar, there will be a lag effect because in December, the peso is historically stronger due to the OFW remittances being converted to peso.
So if you are a speculator, then you can use this month as a window of opportunity.
Remember that investing is different from speculating. If you think that you need the dollars for a future dollar denominated expense then by all means go for it. Otherwise, don't buy dollars (or any other currency for that matter) just because "you know it'll go up". Like that a book title I saw recently in a bookstore, "Hope is not a strategy."
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