Daily Market Notes
LN’s Weekly R & R’s (Rhymes & Riddles)
1. This stock single-handedly pulled the entire market lower today, and as if the stars were all aligned near the 3,133 level for the EX_cash dividend of this stock to occur. Tell me about it!!! The dividend is P141.00 all together, good for 1 meal order of 2-piece Chicken Joy. Supports for this is the P2480 ~ P2500 level, and today’s trek south cost the market a bloody 34pts.
DMN March 12
PSEi 3,072.91 DOWN 52.65
value php 2,282,176,615.00
DOW 44.51 +0.42% 10,611.84
NASDAQ 9.51 +0.40% 2,368.46
S&P 500 4.63 +0.40% 1,150.24
For wall street, it was same old story, different chronology and ending. Their opening was about half a percent down, then flat for the better part of the day, then up about half a percent by the close on fewer than expected job loss data, plus narrowing deficit.
Asia was more or less still flat, with Japan’s Nikkei still surging on. Local stocks had TEL’s heavy market capitalization as the primary influence in the index move. Losing 120 pesos to 2560 (after day low of 2550) which was worth 34 psei points, or over half the index’s loss. TEL went 141 pesos ex-cash dividend today, which means people who wanted the dividend had YESTERDAY as the last day to hold TEL to be entitled to it.
Stock Market & Finance
Listing By way of Introduction, suspended – PSE
The Philippine Stock Exchange (PSE) has suspended its Rules on Listing by Way of Introduction under its Revised Listing Rules and will stop accepting applications under these rules which has been considered a loophole in its stringent listing requirements.
The recently revised PSE rules allows firms to list their shares at the bourse without first undertaking an initial public offering as long as they are required to go public by law and of they commit to do an IPO within 12 months.
In a memoradum dated February 18 but posted on February 19, PSE general counsel and issuer regulation head Roel Refran said the bourse’s board decided on the temporary suspension of the rules in their meeting last February 17.
Technical Analysis leading indicator on breakdown, fundamental reasons to follow?
Read the title. I guess that’s how I feel about the sequence of circumstances in the chronology of how they unfold.
I’ve come across two interesting technical analysis articles. One from website oldtimer Gregory Barton’s asiachart.com, and the other from xtrenders. Both agree on textbook road to to breakdown that markets are taking, only differing in the pathways to the explanation.
Look at xtrend’s dow chart:
Entertainment
PS3 hacked!
Probably just in time for a short to medium term bear market, the good old PS3 has been hacked after 3 years. The hacker: none other than one of the first few to break the Iphone first generation: Geohotz.
He will release the patch and instructions soon, and was confident that he has broken through already. In all likelihood, the hack will probably be like the recent wii hack where you play games off an external drive which contains downloaded isos.
In his blog about how he details hacking the ps3, he mentions “I have read/write access to the entire system memory, and HV level access to the processor. In other words, I have hacked the PS3. The rest is just software. And reversing. I have a lot of reversing ahead of me, as I now have dumps of LV0 and LV1. I’ve also dumped the NAND without removing it or a modchip.
Best Alternative Sites for Mininova
Now that mininova has gone bust, a lot are asking where to get their favorite torrents: updated and organized in the mininova way?
Mininova disabled access to over a million torrent files when it partly shut down its website after 5 years of being online, partly due to the negative ruling on thepiratebay.
The most glaring reason for this change in format was last August a Dutch court ruled that Mininova had to remove all links to ‘infringing’ torrent files, with disastrous consequences.
Since it is technically unfeasible to pre-approve or filter every potentially infringing torrent file, the Mininova team decided to throw in the towel and only allow torrents to be submitted by approved uploaders. This move resulted in the deletion of more than a million torrents, many of which were not infringing any copyrights at all.
Life in the Metro
Best and worst auto models of 2009 by car maker
How much do Philippine government officials make in salary?
For all the headaches a government official is embracing upon being elected into office, did you ever wonder how much they make in a month? Why spend hundreds of millions for only a yearly salary not exceeding 1 million pesos for the top post of President of the archipelago?
Does that mean they all steal? Or all for the service of the country? Sense of nationalism? "Give something back to the country"? And yet some senators are so pompous and arrogant at shouting at citizens in their blue ribbon inquiries, forgetting that they are there at the service of the Filipino people. Anyway…….. here are their salaries as of 2001.
