Daily Market Notes December 14, 2009

PSEi 3,042.10 UP 10.97
value php 1,628,900,235.00

DOW    65.67 +0.63% 10,471.50
NASDAQ 0.55 -0.03% 2,190.31
S&P 500 4.06 +0.37% 1,106.41

Stronger-than-expected November retail sales and a surprising rise in business inventories in October pointed to a recovery in consumer spending. Consumer sentiment also improved in early December lifting the S&P Retail index by 1.3%, both reasons fueling further rise of Wall Street.

Locally, the lifting of martial law in the secluded province of Maguindanao buffered any potential huge drops, and in fact saved the day that was mostly in the red, to eke out some gains by the close.

Gainers were led by the banking sector: MBT 46.5, BPI 48, BDO 39, plus TEL GLO AC BDO MER MWC.  Property/holding firms were still quiet to slightly lower: AC/ALI SMPH RLC MEG, and PX.  Read more... (302 words, estimated 1:12 mins reading time)

Longneck’s UCC’s (Useful Chit-Chats) Dec 7 ‘09

 - – -  THE EARLY AM and SUPER LATE EDITION – - -

Today marked the block sale of PX at P21.00 from RVO and co. to MVP and probably raised the speculation bar that Lolo could be next in line. This made today’s newspaper’s headlines as MA/MAB/LC/LCB are all up, higher and actively traded. MA/MAB is even the top gainer/s.

Is this a one-day wonder? Let’s hope Lolo’s dump trucks are out of commission, and are all in the North Pole scooping snow and also preparing gifts for long time believers. If there will be a follow through tomorrow, we don’t even need them to really go UP significantly. All we need is more or at par volume as what transpired today. If this happens, then this should signify accumulation, and may just be the key.  Read more... (213 words, estimated 51 secs reading time)

Daily Market Notes November 25, 2009

PSEi    3,064.30         DOWN   10.36
value php      2,987,361,500.00

DOW    17.24 -0.16% 10,433.71
NASDAQ 6.83 -0.31% 2,169.18
S&P 500 0.59 -0.05% 1,105.65

Stocks ended a volatile session with modest losses Tuesday, as the Fed's improved outlook and some signs of improvement in housing tempered a weaker revision on economic growth released in the morning. -cnnfn.com

Gold hits a high of $1171 and only PX is "Affected" amongst our local mines.  PX movement to 19.25 is actually caused by speculation of Ongpin/MVP related acquisition news.  LC/B, on the other hand, tried to rally to .023/.026 on anticipation of any possible fruitful deal with MVP.  They left MA/B behind at .023.

Index gainers were few: ICT PX EDC MBT LC ., about 1/3 unchanged, and slightly over 1/3 were losers.    Read more... (246 words, estimated 59 secs reading time)

Daily Market Notes October 29, 2009

PSEi    2,862.33         DOWN   45.88
value php       3,308,579,940.00

DOW    119.48 -1.21% 9,762.69
NASDAQ 56.48 -2.67% 2,059.61
S&P 500 20.78 -1.95% 1,042.63

Stocks tumble as new home sales post surprise drop to 402,000 (from expected 450,000) for September.  Mining stocks of hard and soft commodities fall as the U.S. dollar strengthens, currently sending the Philippine Peso back to 48.

Local equities did not stand a chance.  Hitting a maximum drop of 59 points before closing down 45, the psei might be on the way to creating mini lower highs as it reaches 2,700.  This trendline value of 2,700 is only a current approximation as it steadily goes up by the day, and value may differ depending on the time and days it takes to get there.

By closing, only 2 index stocks were left standing, and both of these even a last minute runup: PX 10.75  (nfb 111m php), and MBT 40 (nfb 30m).  You've got to hand it to PX though, sellers posted amounting to about 15m shares at 10.25, 22m at 10.50, and some 10.75 were all bought up at the close mostly by broker Asiasec.  Read more... (488 words, 2 images, estimated 1:57 mins reading time)

Daily Market Notes October 15, 2009

PSEi 2,942.79 UP 12.09
value php 3,234,684,796.20
over 4B php in volume desperately needed to bring us past 3000!

DOW 144.80 +1.47% 10,015.86
NASDAQ 32.34 +1.51% 2,172.23
S&P 500 18.83 +1.75% 1,092.02

Intel beating estimates but giving a rosy outlook, plus JPMorgan smashing estimates help keep the DJIA rally well above 1% for most of their trading day, and keeping their head above the 10k water level by closing.  The dollar slid to the lowest level since August 2008 and Treasuries fell.   The rally also was boosted by data showing retail sales falling less than economists forecast last month.  Read more... (336 words, 2 images, estimated 1:21 mins reading time)