The Philippine Stock Exchange Index (PSEi) ended at 8,037.51 today. This is the first time in 11 months that the index ended above the 8,000 point mark.
In some of the previous sessions, the index has gone over the 8,000 level within the trading day but usually closed still below 8,000. Today’s closing figures are a positive sign that the index is already establishing higher lows and that the trading ranges are now getting narrower.
The index is still expected to go down to the 7,950 level from time to time, but it looks like the market is on its way up.
Being long-term investors, we will continue buying recommended stocks which are still below their buy-below prices and in the long run, we will be profitable regardless of the market conditions, be it up or down.