Hi guys,

I have moved to www.tradertactics.wordpress.com. From now on that will be my blog address.

Thanks!

Mining Stocks

The Basura Saga is beginning to end. It appears that investors are shifting from basuras to mining stocks or blue-chips. Philex Mining (PX) and Atlas Consolidated Mining (AT) look like they're done correcting and took off today. They may reach new heights come tomorrow. The same goes for the Lepanto Brothers and Manila Mining Twins although they've gone up significantly high today. 

Basura Stocks Recycled to Blue-Chip Stocks

These are the Basura Stocks that have gone up or is already going up:
1. PWR
2. BHI
3. VITA
4. ZEUS (hard to get)
5. IS
6. IP
7. SGI
8. SINO
9. BC
10. AR
11. DIZ
12. COAT
13. UNI
14. SFI
15. CYBR
16. CPM
17. DFNN
18. EVER
19. ORE
20. VUL
21. AGP
22. LIHC
23. OM
24. ELI
25. SUN
26. GERI

Out of all, I like SFI, PWR, VITA, BHI, and ZHI.

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PNB, Ready for a Comeback?

Philippine National Bank (PNB) has tested its support at P57.7-P58.00, and may make a comeback to P64.00. Based from its chart, it may be doing a symmetrical triangle formation. If prices reach at P64.00, it can either have a breakout and go up to its all time highs in the P70 range or go just trend sideways until it reaches or nearly reaches the apex of its symmetrical triangle. Upon reaching the apex, it may make a breakout or a breakdown from there.

CEB, Reverse to P91?

Cebu Pacific has been trading in a range that is slowly narrowing. If it reaches the apex, it might have a breakout. Today, it closed at P86.05 with a bullish shooting star candlestick that was preceded by a bullish hammer candlestick. Stochastics are showing that the %K stochastic is above %D stochastic, which is a buy signal. Added to that, RSI is saying it still has upside. It is safe to trade the range and sell around P90-P91 after buying at the the best bargain price possible tomorrow. 

There are other stocks out there that might have the potential to gain a lot of returns, especially basuras. A speculative stock that perhaps could be day-traded tomorrow is Petron Corporation (PCOR). It recently formed a bullish hammer, and may have corrected already. 

Lopez Stocks, The Stage is Yours Now

Finally, after being pummeled down to extreme lows. The stocks of the Lopez's are now beginning to fight back and triumph. Energy-Development Corporation (EDC) was the biggest surprise as I didn't expect it to correct quickly and move up to reach a high of P7.00 today. That was hecka strong. It just ignored the PSEi correcting. First Gen Corporation (FGEN) is getting stronger and stronger each day. I can see a Reverse Head and Shoulders forming, and hopefully this could break its all time highs. My biggest relief came when I saw Lopez Corporation (LPZ) breaking the P6.00 mark. After what seemed to be years, the stock has finally soared and may look like reclaiming its previous high. I expect the stock to go even further though. I would have to congratulate all those who held the stock or bought at the P5.55-P5.60 levels. You have faith man! 

APO and PNX

My stock picks for tomorrow would be Anglo Philippine Holdings Corporation (APO) and Phoenix Petroleum Corporation (PNX). 

I chose APO because the chart of APO looks poised for another run. Atlas Mining Consolidated (AT) has also shown resiliency despite the PSEi correcting. I think APO is a stock that is good to day-trade on momentum especially when it shows signs of strength tomorrow. I would avoid leaving the stock overnight because my indicators are alarming that it has breached the overbought level already.

My second stock Phoenix Petroleum Corporation (PNX) Iappears to have built support last week at P11.36. Relative Strength Index (RSI) shows a positive divergence, which means the stock can go up soon. The Moving Average Convergence-Divergence is also indicating that the stock is picking up momentum. Once the resistance breaks at P12 and there is strong momentum, we can easily see a rally towards P12.60.