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DJIA 2/1/08, WEEKLY MARKET REVIEW

PRICE AND TURNOVER

• Close: 12,743.19
• Change: +92.83 +0.73% (daily) +536.02 +4.39% (weekly)
• Volume: 954,562,880

MARKET BREADTH (NYSE)

• Net adv/dec issues: +1,992
• Net new highs/lows: -8
• Net up/dn volume: +3,210,411,284

TECHNICALS

Major trend remains sideways, intermediate downtrend, near term uptrend. This week's rally made good the reversal signal that appeared on the previous weekly chart. So far the index has regained over 50% of the last decline and the Dow may be facing resistance at the 12800/13000 range before possibly resuming the downtrend.

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PSEi, 1/18/08

• Change: (Daily) down 80pts/-2.5%, (Weekly) down 335pts/-9.6%
• Value: 4,956,826,325 (excl special block sale of BDO)
• NFB: -966,546,598
• Net Adv/Dec: -143
• Trends: Major trend undefined, intermediate downtrend, near term downtrend
• Momentum: Accelerating
• Support and resistance: 3171(Aug2007)/3514(Jan2008)

The PSEi ended the day without covering the opening gap indicating a healthy supply of sellers until the close. The accelerating downtrend is proving to be unnerving and painful to those who are still holding long positions. The extended decline opens our mind to a possible bounce but that doesn't mean we should be buying now because we don't know (a) when the bounce will occur and (b) how much deeper the price will decline before the bounce actually happens. If a correction does happen and we initiate long positions, keep in mind that they should be short term trades since the correction will likely be shortlived and the underlying downtrend remains formidable.

Ayala Corporation Fixed-Rate Bond

Ayala Corporation is issuing up to PhP 5.0B worth of fixed-rate bonds to refinance their existing debt and for general working capital. The bond has a tenor of 5 years and 1 day. The issue date is November 21, 2007 and the maturity date is November 22, 2012. It has a coupon rate of 6.825% paid every quarter. The coupon payments are subject to 20% with holding tax. The underwriter and selling agents are BPI Capital Corp., BDO Capital and Investment Corp., First Metro Investment Corp., ING Bank N.V., Land Bank of the Philippines, and Standard Chartered Bank. The bonds are sold in denominations of PhP 50,000.00. They are rate PRS Aaa by Philratings.

The offer period begins November 12, 2007.

Christmas countdown 2007 - 43 days to go

For the first time in months, I woke up to a chilly morning that reminded me that Christmas is officially here.  Here are TOP FIVE signs that Christmas is fast approaching…

1. Increased POLICE and MMDA staff visibility.  On a daily basis, I would usually pass by around 3 to 5 cops/mmda aides.  But today, I saw around 15!!! All armed with motorbikes and their magical blackbooks (tickets).  This would be great if they are out to help ease traffic or watch out for criminals.  Instead, they are causing traffic by standing in the middle of the road and playing "patintero" with motorists.  Their favorite victims are the motorcycle riders (with no helmets or those who ride in tandem), truck drivers, jeepney drivers, color-coding violators, etc.

Download Nes Roms Games for Iphone

What is NES.app?

NES.app lets you play Nintendo games on your iPhone. It is a fully functional, feature-rich Nintendo emulator.

In order to use NES.app, you will need ROM images of Nintendo games. ROM images are files containing the dumped instruction code from a physical cartridge. In many cases, you are legally entitled to posess a ROM imageof any game that you presently own. ROM images for NES are widely available online, or with the appropriate hardware, you can dump them yourself directly from the cartridge.

Files

ZTE Broadband Deal, Alleged Bribery in Malacanang and now, Glorietta 2 bombed!

Senate’s ZTE Broadband Deal Inquiry - Abalos and Neri

After a long and tiring session yesterday (September 26, 2007) at the Senate  regarding its inquiry on the ZTE Broadband deal, we are left with more questions than answers.  The only good thing that came out yesterday was we now know our who among our Senators possesses a brain!!!  They kept asking stupid questions again and again and just used their alloted talk time to make snide "alaska" remarks to Comelec Chairman Ben Abalos and CHED Commissioner/ex-NEDA Chief Romulo Neri. 

I was only able to catch some parts of the inquiry but it seems nobody asked Chairman Abalos nor Neda Chief Neri regarding Joey de Venecia's claim on First Gentleman Mike Arroyo's involvement.  Also, I wonder if the ZTE and/or Chinese embassy officials that they met with knew how to speak fluent English, or did they have a translator with them?  When was the first time the Chairman and these officials meet?  Who introduced them?

Solar Entertainment Channels to stop airing on SKY Cable??

There have been numerous unconfirmed reports that all the Solar Entertainment Channels including Basketball TV (BTV), Solar Sports Plus,  ETC,  Jack TV, Crime and Suspense and 2nd Avenue, will be airing on SKY Cable only until the end of 2007.

There have been many speculations as to the reason for this, and if this is even true, but if it does happen, it could cause a huge subscriber shift especially with the aggressiveness of the Solar group in signing up agreements for different shows and events.  An example is the 2008 Beijing Olympics,  Solar has reportedly gotten the rights to these games' entirety.  Pacquiao fights have also been a staple for their group and the viewership for these have always soared through the roof.  Have also heard that they have signed with FOX, CBS, NBC, and other US entities for different shows.  Among the most exciting developments is that Solar will be able to show hits like Heroes on the SAME DAY that the episode airs in the U.S.  That would be a first in Philippine television if that happens, and for Sky Cable subscribers to miss that wouldn't be right.

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