Daily Market Notes December 4 , 2009 of ISM and ISM

PSEi   3,061.99         DOWN   28.92
value php     2,376,795,480.00

DOW    86.53 -0.83% 10,366.15
NASDAQ 11.89 -0.54% 2,173.14
S&P 500   9.32 -0.84% 1,099.9

The (ISM) Institute for Supply Management’s index of non- manufacturing businesses in the U.S. — almost 90 percent of the world’s largest economy — fell to 48.7 from 50.6 in October. A reading below 50 indicates a contraction. A report on U.S. unemployment today may show the rate remain at a 26-year high of 10.2 percent, according to a Bloomberg survey.  Bank of America's plan to pay back the government $45 billion was met with muted response.  

Local stocks were back to their anemic usual self without the inflated value turnover for CPM FLI MER PX.  Read more... (409 words, estimated 1:38 mins 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)

Longneck’s UCC’s (Useful Chit-Chats) Nov 22 ‘09

The last week saw our PSEi advance by 35 pts, and this is mainly attributed to the week on week P202-P228 advance of MERALCO. The banking sector as a whole was also very strong and aided to the ascent.

Technically, MER may have already broken out of its P226 recent high, closing at P228. But the real resistance is at P230, and it did break out of that even, touching a high of P232 last Friday. I expect MER to be strong again this coming week, and judging by the charts alone, this may even go as high as P270 and this alone could buoy our market this coming week. Do take note though that from the way I am seeing things, this recent MER play is not contagious to other Lopezes like FPH and BPC …  Read more... (413 words, estimated 1:39 mins reading time)

Some charts : web

While everybody's eyes are on ISM, let's talk about WEB which no one else has anyway.  Just the other day I showed my friend what the chart of WEB looks like and I was telling him how it would hit the trendline soon.  Well, this chart is about a day or two old, and we've in fact hit this trendline.

Notice that everytime this trendline is hit, WEB appears to have diminished buyers and more sellers than usual before bouncing.  The breakout from last month's ascending triangle shows a 5 peso move from 15.75-16 which points to around 21 if this trendline bounce occurs next week.

I will stake longneck's life that it will.

Daily Market Notes October 12, 2009

PSEi                 2,930.97         DOWN   11.81
value php               2,246,922,315.00

DOW      78.07 +0.79% 9,864.94
NASDAQ 15.35 +0.72% 2,139.28
S&P 500   6.01 +0.56% 1,071.49

Our local market that was up 20 could not hold to its gains as TEL and the property sector were sold down.  The weak sentiment was probably due to the extensive damages wrought by successive rainfall from Ondoy and Pepeng which may affect borrowing, harvest, crops, inflation, GDP, and deficit.

Expect support to be at pivot point of 2900, which was once resistance now turned support.  Much of asia manage to capitalize on American Equities' gains last weekend.  Read more... (292 words, estimated 1:10 mins reading time)