Government posted a full year deficit of Php197.75B (2.0%) of GDP and well below the target of 3.2%. This turn as an anchor the pull down sa PSEi uptrend in consecutive trends.

For short term traders, it viewed as heightened risk with respect to overall to overall market performance and absence of positive money talks. However, most long term investors hinges on the outlook for a broad economy and an opportunity to take increase position in equities as the market drops.

From the last few weeks, I almost tempted to take some bites of some shares… PSEi tapped above 5000 level ranged, which shows promising Bull Run. But viewing the charts, I believed it’s already overbought and the risk is quite high. And still lot of volume planking in, but I decided to wait patiently for corrections instead. I know it will come soon enough.

Yesterday, the waiting finally paid..  PSEi closed at 1.27% lower or 4960 level from 5000+, and still continued until today. I immediately check my list and ready to push buy button. My pick is ANI (Agrinurture Inc.), based on my technical readings; Bollinger bands, RSI, & MACD.

Good Luck fellow traders.
Mabuhay Philippines.