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 November 24, 2009

PSEi   3,074.66         UP     26.66
value php       4,220,691,731.40

DOW    132.79 +1.29% 10,450.95
NASDAQ 29.97 +1.40% 2,176.01
S&P 500 14.86 +1.36% 1,106.24

Wall Street surges to fresh 52 week highs  on a strong housing report and a rally in commodities, plus weaker dollar.  Asia did not seem to bite today as they already had some semblance of a rally yesterday.

I say they not we, because as usual, the PSEi takes on an oblivious indifference to general sentiments today.  This is largely due to TEL's sole performance at 2600, carrying the market higher by 16 points and never budged from that dunce corner or principal's office.

That other leader PX surprises with a continued return to 19, also contributing 6.5 gained psei points.  Breadth of gainers were not that good but the usual 1/3 of the other gainers more or less contributed one fluctuation each.    Read more... (296 words, estimated 1:11 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 November 20, 2009

PSEi   3,068.73         DOWN   14.57
value php    3,445,964,990.00

DOW      93.87 -0.90% 10,332.44
NASDAQ 36.32 -1.66% 2,156.82
S&P 500 14.90 -1.34% 1,094.90

Wall street drops for the second day, Europe and Asia drop around 4 days on the average.  

At the onset of local trading, stocks were not bad in their drop, even trading flat for a sizeable duration, before some panic safety selling by the close brought us down over 30, only to recover a little by the close.  Read more... (305 words, estimated 1:13 mins reading time)