PSEi @ 7900 level and high possibility of going lower
Prepare for the gurus who will say "Go cash" "Go trim your positions" "Go rest for awhile and wait for the index to settle down." NOT ALL STOCKS are affected. In a sea of red stocks, lies an "Alpha" or "Outlier" stock.
A bearish index doesn't mean you get out of the game. It simply means that we should be picky. Believe it or not, but a BEAR run will make you a better trader than a BULL run.
Moving on, here's where my port is focused on: $LR
A bullish pennant (continuation pattern) + didn't break any key support levels despite the index breakdown.
Many issues surround its current catalyst right now (Galaxy - LR Boracay Plan) but the price action is telling us that it is already a done deal. Remember $PXP at 3.00 per share and everyone was debating about the Joint Exploration? How about $NOW at 3.00 per share when the ginyuses were blabbing about its trash financial statements?
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