Tuesday, September 1, 2009

Megaworld Bet

After serious thought, I cannot really stop myself from doing short term trades. My solution is I opened a citiseconline account for my short term trading needs. Since you cannot really do short term trades on FirstMetroSec website (lots of technical problems). But I'm keeping my FirstMetroSec account though, I've been using it for a long time and I'm used to the User Interface.

Anyway, I'm still holding the same portfolio I posted before on my FirstMetroSec account (long term account),

As for the citiseconline account, I lost a lot on my PX bet, but I got it all back and gained a bit on my MEG. I'm not really a chartist or a technical analyst, but I cannot help but notice MEG has a cup and handle pattern. I actually bought this stock at 1.28, I was supposed to sell it at 1.7 but decided to sell it at 1.62.

And I'm planning to buy it back at 1.5, which is the current price today, but I only bought a few. If by tomorrow, DJIA continues to slide, I'll probably wait until it's on a 1.2+ level.

I bought at 1.5 thinking that tomorrow DJIA might rebound, at least I have bought something to average up. And if it slides, I did not buy to many to hurt me.

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