Daily Market Notes December 23, 2009 WEB Philweb and ISM Ism Communications jointly acquire Acentic gmbh
December 23, 2009 by dragon · Leave a Comment
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.
Longneck’s UCC’s (Useful Chit-Chats) Dec 7 ‘09
December 8, 2009 by longneck · Leave a Comment
- – - 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.
Longneck’s UCC’s (Useful Chit-Chats) Nov 24 ‘09
November 24, 2009 by longneck · Leave a Comment
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.
Daily Market Notes November 24, 2009
November 24, 2009 by dragon · Leave a Comment
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.
Longneck’s UCC’s (Useful Chit-Chats) Nov 22 ‘09
November 21, 2009 by longneck · 2 Comments
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 …
Some charts : web
November 20, 2009 by dragon · Leave a Comment
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
November 20, 2009 by dragon · Leave a Comment
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.
Daily Market Notes November 18, 2009
November 18, 2009 by dragon · Leave a Comment
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.
