Daily Market Notes January 28, 2010
January 28, 2010 by dragon
PSEi 2,961.63 UP 42.15
value php 2,358,282,930.00
DOW 41.87 +0.41% 10,236.16
NASDAQ 17.68 +0.80% 2,221.41
S&P 500 5.33 +0.49% 1,097.50
In the first clear sign of a technical bounce, wall street trades lower during early session, and closes slightly higher. Asia and Europe follow with potentially over 1% upticks. Wall street got its momentum from Obama’s pledge to keep rates near zero longer.
Locally, index stocks that were NFB yesterday were mostly NFS today, a sign that either punting only by foreign funds in the hands of local button pushers, and/or accompanied by sell on rally foreign funds.
Back to NFS territory were: BDO 21M, MBT 18M, EDC 80M, MER 18M, MEG 54M, TEL 136M, GLO 14M.
NFB: FPH 53M, FGEN 24M, JFC 11M, AC 52M, SMDC 25M, SMPH 15M,
Volume has not increased substantially yet either. With that 50% Fibonacci retracement overhang (for Dow around 10,400) for the PSEi around 3,000, everyone should take it easy, not fill the bucket, but dump some load along the way.
I will not be surprised if astute investors sold before dow 10,400 and psei around 2980.
For the best overall gainers: ALCO .27 LIB 4.35, APC .34, BEL 1.6, ANI 25.50, THESE join about half the index stocks in the gainers side: BPI ALI PX EDC AC BDO SMPH etc.
Top loser was IMI, previously a 45 billion company in terms of market cap, became 68 billion at the open, but closed only as roughly a 36 billion company at 36.
TOTAL FOREIGN BUYING : P 649,401,462.85
TOTAL FOREIGN SELLING : P 858,089,718.60
NO. OF ADVANCES: 78
NO. OF DECLINES: 36
NO. OF UNCHANGED: 43
NO. OF TRADED ISSUES: 157
NO. OF TRADES: 10,027
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