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)

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)

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)

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 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 9, 2009

PSEi                 2,942.78         DOWN   25.24
value php                 3,618,677,865.46

DOW      61.29 +0.63% 9,786.87
NASDAQ 13.60 +0.64% 2,123.93
S&P 500   7.90 +0.75% 1,065.48

News that gunmen strafed SSS President Neri's house probably contributed to the selling jitters we experienced today.  Wall street was slightly higher on ALcoa's earnings, while the rest of asia was flat to slightly higher.

Excitement in the big caps was led by FGEN's dramatic run to 17.50, which later gave way for a not so dramatic slide back to 17.  FGEN experienced 21m nfs.  This run then slide was mirrored by other lopez stocks: MER 192 HI, 188 close, 20m nfb, FPH apathy at 40.5 but with 75m nfb, BPC 3.6 hi, 3.4 close, with 16m nfs.  Read more... (327 words, estimated 1:18 mins reading time)

Next Page »