Friday's market performance was strong. A lot of stocks, particularly PX, LC, LCB, JGS, and CEB rallied near the close. It's unbelievable to see mining stocks this strong. There is a lot of promise in mining stocks because of the recent developments in the industry, at the same time we can't discount the fact that prices of minerals and precious metals are still ridiculously increasing. I see PX, NIKL, LC, and LCB still going up come Monday.
As for JGS and CEB, their strong rally near the close is a signal that the bulls may have taken over. JGS might continue its uptrend from before while CEB may possibly do a reversal.
All in all, I'm confident that PX, NIKL, LC, LCB, JGS, and CEB will contribute green points on PSEi's performance on Monday (SM looks good too).
Another industry that could contribute green points would be the power industry: AP looks poised for a reversal, EDC is trying to make new highs, and FGEN still has batteries to go up.
For position traders, FLI and MEG might be good buys tomorrow. Better monitor first though. :) For all those PNX holders, congratulations! Slap me for not buying when it was still consolidating.
Another industry that could contribute green points would be the power industry: AP looks poised for a reversal, EDC is trying to make new highs, and FGEN still has batteries to go up.
For position traders, FLI and MEG might be good buys tomorrow. Better monitor first though. :) For all those PNX holders, congratulations! Slap me for not buying when it was still consolidating.
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