Last trading day before US Thanksgiving holiday, the DOW once again plummeted taking the DJIA down by 211 pts. to 12,799. So I expected the PSE to follow the same route. Last night, while I was writing my post, I was already contemplating of exiting the stock market temporarily. The bears have taken over this week. Likewise, other posts in a popular stock market forum all have the same sentiment, get out.
So my plan for the day was to take everything out except for this issue, PA. First to go was MEG (sold at a loss) and then AJO (went up 5% today, sold at its high, but still a loss). Seeing .220 on the ASK side, it prompted me to buy more PA as I think support is strong at .225 the previous days. I was able to add at .220 and .225 to my position. PA went to as high as .235 today and strongly closed at .230. Not a bad move after all.
However, this remains to be seen tomorrow, PA's ASM. A lot of PA supporters are bullish (and so am I). For now, I have around 29% of PA in my portfolio and this is the only one thats positive at the moment. So good luck to all PA holders. Tomorrow is the D -Day? I hope not a case of pump then dump. Be careful panix.
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