What Overexcitement Did to My Portfolio - Post Greek Elections

I'm feeling risky today.

Even though stock market news pages abound with good tidings about the Greek government, I believe the markets will continue to be volatile. The new government does not mean total salvation for Greece and Europe, but a stepping stone up the hard austerity ladder.

Garnering only ~30% of the votes, the New Democratic party will most probably be the new Greek government. But with a very slim advantage, the party should expect a rough road ahead. A request for a recount or civil violence may be on the list of things to lookout for. In any case, the world's eyes are on Greece, and while Greece's story unfolds, we standby guessing what the next possible scenario will look like.

I'm feeling risky today (because I had a very lively weekend ;) and I need to experience what it's like to trade post-elections). Early this morning, I bought MEG at Php1.97 - a property stock. I will have to drink calming milk later because the property sector in the Phils is the most volatile, and MEG is one of the most actively traded stocks listed. I probably got over excited and may pay for the repercussions of my overexcitement.

If I lose money later on I'll probably just say, "hey, I was high on Greek that's why."

-I hope somebody out there buys a new condominium unit.-

URC Sold! What Next?

So where do we start from here?

Thank God COL entered my Sell order on URC. It's been red for the past few weeks (yeah yeah, I bought it at an awful high price, I had very high hopes for the biscuit, I totally misread the price-line). I won't tell you how much I purchased it (coz I'm a loser), but I sold it at ~Php65.00. It closed at Php66.00 yesterday (sayang!!). My profit was pretty slim :|



Go figure.


Henyways, now I only have BDO to ponder upon. It's still red, albeit me getting this Rights Offer thing yesterday. Here's what my broker told me:



I totally do not understand what it meant... I think it's just a promo that let's you buy extra stocks at a cheaper price... but I'm not sure. I did purchase 10 more stocks on top of my existing 30, just to average down on the cost, but I checked the stock this morning and it's still under. :(

So what's the next move? I checked the boards yesterday and they were all green like the fields of Sagada. That's because of the news about the Spanish bailout - it being the 4th largest economy in the Euro zone, how could you let it falter and crash? To date, Spain will be the 4th country to seek bailout after Portugal, Ireland, and Greece - and the bailout's gonna be big because Spain's economy is twice the size of the first three bailout countries' combined. What does that mean for us?

I'm not sure, I'll consult with my economist/consultant friend Tin Ablaza... :p My guess is higher taxes for Spaniards, lower disposable income, lower demand on goods, lower import demand to Spain, lower exports from export countries, less business locally, local economy contracts, investors here worry, stock market goes crashing down again due to lack of confidence...

I think. Again this will need confirmation. :|

-guessing... what's my next move then?-