Common Sense Trading - A Blue Jeans Approach to Philippine Stock Market Trading

"What comes up, must go down" is not a too comforting thing to hear and yet it is happening. to the PSEi.   The index fell by 1.27% as reported by  The Philippine Daily Inquirer here . News of good GDP was ignored in the face of news reports that overseas remittances fell to five month low.  Philippine Star reported that: " Money sent home by OFWs fell by 8.3 percent year-on-year to $2.2 billion in September, the central bak reported." The article further stated that: " The countries that registered the biggest declines in cash remittances in September were Saudi Arabia, followed by Kuwait, Qatar and Australia."   "The BSP noted that reports that a number of global correspondent banks have closed their service facilities on money service business might have “partly” affected remittances flows during the month."

I awoke to notifications of another 5% jump in the price of bitcoin on the international market.  I checked coins.ph and saw a buy price above Php400,000!  Just a few days ago, I was able to covert some pesos at a rate just above Php300,000.00.  I share in the sentiment that we will end the year somewhere around the Php500,000.00.  My simple understanding of Bitcoin is that it is at a point where it is being "born" and its true purpose and value is emerging.  Around the world, it is being used as a safe haven for value/assets.  The initial plan to have Bitcoin focus on transactions seems to have changed. The people behind Bitcoin now want it to be like gold.  Current events illustrate this perfectly.  Just a yesterday, I read about (and heard on the news) political instability in Zimbabwe.  A decades long dictator, Mr. Mugabe, was placed under house arrest.  Notably, that Bicoin's price in Zimbabwe is soaring . Due to difficulty in f...

Inquirer reported here that the Philippines' GDP was better than expected. The Philippines Statistics office noted that the main drivers for growth were:  Manufacturing, Trade, and Real Estate, Renting and Business Activities. The official press release from the PSO can be viewed here .