Just today I saw all stock prices I was monitoring in the red. This could be the start of the market correction everybody had been warning about last week. I decided to drop all my shares to lock in the little gains I made this month. I lost on some of my trades but had made good gains on a few like in Benpres (BPC) and Globe (GLO). I also made bets on Jollibee (JFC) and Philippine National Bank (PNB) but these issues couldn't make any clear gains over the last couple of weeks. I guess their upward momentum had lost steam.
In any case, I still made 4.7% overall this month. I'll stay on the side for now and observe the prices. I'm hoping they'll stabilize soon, maybe next week so I can bargain hunt.
My target is upwards of 6% every month. At that rate, your money doubles at the end of the year. But with slippage and commissions you fall short of the 100% year-end goal. So upwards of 7 or 8% per month is a better goal.
Since I've started my system in May, I was able to make 8.53%. This month, I've fallen short, but then again, the month isn't over yet.
Monday, June 15, 2009
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