How to trade this market: some support levels to think of

Assuming regular correction only (short to medium term):
-These stocks will correct back to uptrendline, and some of the targets are still pretty far off:

*(newly updated in bold)

TEL 2500

AT – macd crossover sell 01/26/2010. S: 10, 8.90
FPH – macd crossover sell 01/26/2010 s:45.0 (still an uptrend if it hits that), break of 45 = 35
EDC – macd crossover sell on 01/26/2010 s:4.50 (still an uptrend if it hits that), break of 4.50 = 4, 4.05

*note. uptrendline supports slant up diagonally by nature, and time and duration to reach trendline may force price variation.

Already broken their uptrendline: in parenthesis (when broken)

AC (September 2009).  Current support 279. If breaks the downtrend channel, then headed to around 250.  Read more... (313 words, estimated 1:15 mins reading time)

Daily Market Notes December 23, 2009 WEB Philweb and ISM Ism Communications jointly acquire Acentic gmbh

PSEi   3,024.33         UP      8.17
value php     3,580,105,185.00

DOW      50.79 +0.49% 10,464.93
NASDAQ 15.01 +0.67% 2,252.67
S&P 500   3.97 +0.36% 1,118.0

US GDP data fell slightly short of expectations, but housing data surprised to the upside showing better home sales data compared to the past 3 years.  This fuels the sustained attack near 10,400 again for the djia.

The PSEi traded flat for the most part of the day, only turning green at the last few minutes.  This was largely due to SM's 7.50 gain to 322.  This window dressing feat was worth 2.55 psei points, and done on 98m nfb.

Next top gainer was MER at 198, but FPH sank to 46 due to Daiwa's relatively heavy selling.  Read more... (347 words, 1 image, estimated 1:23 mins reading time)

Daily Market Notes December 10, 2009 on shorting, nihao, pacifica, ism, ajo

PSEi    3,006.57         UP     25.32
value php   2,149,600,855.00

DOW    51.08 +0.50% 10,337.05
NASDAQ 10.74 +0.49% 2,183.73
S&P 500  4.01 +0.37% 1,095.95

Yesterday's Wall Street equity bounce was attributed to the dollar's fall, and a rise in wholesale inventories and an upgrade of 3M.  Gold continues its slide to 1125, oil slips further to $70.

The Psei's volumeless rally was led by TEL's 30 peso rise to 2620 (on 55m nfb), and was worth 7 psei points.  PX's continued rebound to 16 also gave the bulls 6 psei points.  MER likewise ramped up to 205 on the last few minutes and contributed 5 bullish points on the index.  In closing, only 8 index stocks lost and lost slightly: BPI HLCM FPH DMC SMC/B ALI FGEN.  Read more... (440 words, 1 image, estimated 1:46 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)

Longneck’s UCC’s (Useful Chit-Chats) : My Thoughts on the Recent Subprime Crisis

The recent subprime financial crisis : what really happened, what’s happening, and my thoughts as to what will happen — these will be discussed and linked as thoroughly as possible by yours truly in simple layman’s terms in this special edition of my UCC’s.

I have this thought that has dangled in my mind for ohhh so long, but I decided to come out with it just recently, because I want to confirm my own personal theory as to the US unemployment data indeed making a u-turn to recovery.

We know for a fact that stock markets usually move way way in advance ahead of any crisis or recovery. Just keep this in mind as you read along.  Read more... (828 words, estimated 3:19 mins reading time)

Longneck’s UCC’s (Useful Chit-Chats) Dec 4 ‘09

After breaking out and above 3,100 on Wednesday, our PSEi has succumbed to profit taking and is down again today by another 29pts to 3,062 .

Coincidentally, Wednesday was also the day before this gigantic PX correction. PX’s down move south of about P4.00 costs around a cumulative 35pt drop over the last 2 days. Of course, we can also say that PX was also the one who held UP the market head above water. With PX correction still ongoing and not looking to stop as of yet, we may really have to look at other stocks/sectors to pull up this sagging index.  Read more... (448 words, estimated 1:48 mins reading time)

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)

Longneck’s UCC’s (Useful Chit-Chats) Nov 24 ‘09

DOW’s 100pt rise last night was greeted by a muted response as although our index psei did end up gaining 26pts, market breadth was not as positive as one might have expected.

Leading the way was TEL’s P55.00 rise to P2,600 translating to 16 gained PSEi pts. This alone accounts for more than half of that 26pts. Not to be outdone, PX rise to P19.00 also gave 5 pts.

Banking except for BPI were all marginally lower to unchanged, though positive foreign fund flow into the sector is still quite visible and evident.  Read more... (395 words, estimated 1:35 mins reading time)

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