Daily Market Notes November 18, 2009

PSEi     3,052.61         UP     20.52
value php     4,246,223,035.00

DOW    30.46 +0.29% 10,437.42
NASDAQ 5.93 +0.27% 2,203.78
S&P 500 0.87 +0.08% 1,110.17

Correction slash rally for wall street, continued mixed rally for the pse.

Today, the oddballs PX and MER reclaimed their oddball crown and took the lead. PX rallied 1.25 to 15.25, worth 10.7 psei points, while MER gained 4 to 216 worth 4.7 points.  Granted that the past two day's drop despite wall street's 1.4% rally, I guess their trades today pretty much evens out the slate and resets the market.

Some other bluechip rotational buying could be said for ALI 12.25, MBT 46, PNB 26, BDO 39.50, URC AEV JFC DMC.  About 1/3 of the index stocks traded flat, whereas the other 1/3 cooperated with the bulls and were down only slgihtly each, led by AC's one fluctuation 5 peso drop to 305 worth 3 points.  Read more... (307 words, estimated 1:14 mins reading time)

Daily Market Notes November 17, 2009

PSEi    3,032.09         UP     20.73
value php     3,599,631,910.00

DOW   136.49 +1.33% 10,406.96
NASDAQ 29.97 +1.38% 2,197.85
S&P 500 15.82 +1.45% 1,109.30

No other reason was attributed to wall street's sustained 1.4% rally except for the weaker dollar continued fueling speculation on stocks and commodities.

Asian stocks that opened stronger were falling by noon: Hong Kong, Japan, Korea, Australia probably anticipated correction after the highs and began selling into the rally.

Locally, it was weak at the onset.  PX'S Initial attempt to rally at 14.75 quickly fizzled and again dampened sentiments, especially at recent 2nd and 3rd liner leaders like NI ISM CPM.

TELcos led the drop: GLO TEL, followed by PX SM, but a lackluster flat trade gave way to MER's last minute run to 212, contributing 19 psei points on 47m nfb.  Read more... (240 words, estimated 58 secs reading time)

Daily Market Notes November 16, 2009

PSEi     3,011.36         DOWN   22.96
value php     4,105,654,390.00

DOW    73.00 +0.71% 10,270.47
NASDAQ 18.86 +0.88% 2,167.88
S&P 500   6.24 +0.57% 1,093.48

Before everything, else, let's vote for our very own pushcart teacher efren in cnn.com/heroes. you can vote as many times as you want.

Since saying that stocks corrected on renewed growth pessimism, gains last Friday were now attributed to growth optimism. Go figure.

Asian stocks seesawed but were mostly slightly higher.

Locally, hitting 3k drew in the buyers, plus some 550m pesos worth of crosses on SMPH puts the value turnover back to the usual 4B mark.  Likewise, some 300M worth of crosses for UBP made up for what would have been quite a lackluster day.  Read more... (255 words, 1 image, estimated 1:01 mins reading time)

Daily Market Notes November 13, 2009

PSEi    3,034.32         DOWN   39.60
value php     3,938,407,065.00

DOW    93.79 -0.91% 10,197.47
NASDAQ 17.88 -0.83% 2,149.02
S&P 500 11.27 -1.03% 1,087.24

No apparent reason was given last night's selloff except for "investors questioning value and fundamentals vis a vis the runup".  Translated technically, its a natural correction of a market going up.

Local stocks sank 50+ at the open, recovered half of these points, only to sink some more by the close due to PX's panic selling when somebody's (presumably bdo fund) stop loss order for their trailing stop was triggered.  This 2.75 drop of PX to 16.75 was worth 23 bloodied psei points, helped by 347m nfs.
Banking stocks had net foreign participation rotating.  They turned NFS on MBT 15M, PNB 38M, while switching to NFB for BDO 25m, BPI 59m.  These stocks traded virtually flat.  Read more... (282 words, 1 image, estimated 1:08 mins reading time)

Daily Market Notes November 12, 2009

PSEi    3,073.92         UP     26.78
value php      5,104,499,810.00

DOW      44.29 +0.43% 10,291.26
NASDAQ 15.82 +0.74% 2,166.90
S&P 500   5.50 +0.50% 1,098.5

PX contributes 1B pesos to total value turnover, wall street flutters slightly higher, Asia sideways to slightly lower.

Today, ALI leads the index gainers with a .5 gain to 12 worth 8 psei points backed by 45m nfb.  AC's 7.50 gain to 307.50 also contributed 5 psei points despite 22m nfs.
Third top index gainer was BDO's 2 peso gain to 38.50 despite 32m nfs.

On the losing side were the index big cap leaders MER TEL SMPH FPH.  MER can't seem to hurdle its 210 resistance.

MEG FLI's recent rise drew out sellers both local and foreign, sending both tamer from intraday highs to close at 1.64 and .95 respectively.  Read more... (266 words, estimated 1:04 mins reading time)

Daily Market Notes November 11, 2009

PSEi                 3,047.14         UP     50.43
value php                  5,711,025,735.60

DOW 20.03 +0.20% 10,246.97
NASDAQ 2.98 -0.14% 2,151.08
S&P 500 0.07 -0.01% 1,093.01

Lack of better leads plus pause from its recent attack of 10k, wall street flutters about the whole day.

For the PSEi, the break of 3k worth 50 points could be attributed mainly to these 4 stocks: TEL 19.7 psei points worth, PX 12.8, AC 10.2, ALI 8.3.

TEL's return to 2570 was thanks to u turning sentiment of 69m NFB.  GLO was not so lucky, trading flat at 1000 with 100m nfs.

SM made up for 10% of total psei trade turnover, trading 500m pesos worth, of which were 492m NFB.  The foreign buying tally would be 655m pesos sans these SM trades, 460m pesos worth of which were crosses.  Read more... (291 words, estimated 1:10 mins reading time)

Daily Market Notes November 10, 2009

PSEi      2,996.71         UP     81.00
value php   5,153,558,935.00

DOW    203.52 +2.03% 10,226.94
NASDAQ 41.62 +1.97% 2,154.06
S&P 500 23.78 +2.22% 1,093.08

CNNFN reports that the gains that brought Dow well above 10k were broad-based, with all but 1 of the 30 components in the blue-chip index closing higher. Financial and commodity-related shares led the advance.

Local value turnover swells to the 5 billion mark but all thanks to PX's 1.3 billion worth traded. Which without this trade brings us back to the usual 3.8B worth for the market in general.  Nonetheless, PX's 2.25 continued rise to 18 was worth 19 psei points for the market.  This index leader was joined only by MER's 13 peso rise to 210 worth 15 psei points, all on 58m nfb.  Read more... (306 words, estimated 1:13 mins reading time)

Daily Market Notes November 9, 2009

PSEi 2,915.71 DOWN 15.76
value php 3,168,187,615.00

DOW 17.46 +0.17% 10,023.42
NASDAQ 7.12 +0.34% 2,112.44
S&P 500 2.67 +0.25% 1,069.30

News that American unemployment hit a 26-year high of 10.2% last month saw an initial weaker open, but had buyers coming in to help dow 10k survive its bid.

In the local front, the market was already weaker at the opening, brought about by TEL's drop in its New York ADR trade to about 2,500 parity. Local TEL loses 75 pesos to 2490, worth 22 lost psei points. I guess we can factor in here the peso's depreciation from 46.++ to now 48.++, and also the recurring notion of less focus and finance may be allotted for TEL growth by the MVP group now that they have to finance their new toy MER.

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