Stock Analysis 10/20

Dow is down by -72 points, NASDAQ by more than 50 points, S&P 500 by more than 15 points, and gold by almost 3 points. In my opinion, Dow Jones hasn't corrected completely yet and when will Dow convincingly correct, we never know. I'm not more concerned about Dow but more about PHISIX. If we noticed yesterday, PHISIX has shown some weakness yesterday especially on stocks like IP and DFNN. That just might be an indicator that PHISIX will finally correct today.

PHISIX is very bullish for the past 10 days and has shown some resiliency. However, RSI is still far from being overbought which indicates two things, first, PHISIX may continue its trek up, or should there be a correction, it will be short lived again and PHISIX will bounce quickly barring any negative news here and abroad.

Keppel's delisting in PSE may not significantly affect the market today.

Stocks to look at:

IP-CLOUD-DFNN - Many traders are stuck in these stocks. If you have these stocks, hold it to avoid losses. I'm not concerned about IP not unless it breaks past 2.58. Jockeys can easily push this stock up to 7 or even high if they wish to in the next couple of days. DFNN on the other hand is on accumulation mode as per reco. Let's just be patient on this one.

AR - AR has shown some strength yesterday when most stocks weakened. AR closed at high and there is a good possibility of a gap up. Trading plan: For those with AR, sell on the initial surge, monitor it, and buy if it shows some bullishness. For those who doesn't have AR, buy it at opening, sell on initial surge, monitor it, and buy if it shows some bullishness. Just be cautious of bull traps for short term plays. Keep in mind that AR's target price is 0.01

MA - Slowly but surely. There is nothing much about MA aside from the fact that it follows LC and LCB. however, as far as strength is concerned, MA is very strong. It has gone up from less than 0.044 to as high as 0.065 in just a matter of 12 days, some 47% gain for the past 2 weeks. MA is still far from being overbought and I think it will break past 0.07 in a day or two.