Thursday, May 31, 2007

The Philippine Stock Market rebounds and ends up by 2.24% - May 31, 2007

The DJIA shrugged off the big decline in the China stock market yesterday. It closed higher overnight by 111.74 points to end at another record at13,360.08.

Growth forecast for the Chinese economy was even adjusted higher to around 10.4% from 9.6%.

Philippine GDP data came ot to be at 6.9% and much better than expected.

With all these factors soothing investor jitters, the Philippine stock market strongly rebounded from the opening bell, immediately got back all its losses yesterday and then sustained its rally to close at its high.

PSEi previous close 3398.55 -May 30, 2007

time-------------up-------------------PSEi
9:31------------46.30
9:43------------60.09-----------------3458.64

Within 15 minutes into trading, the local equities market regained all of its losses yesterday. PLDT opened at PhP 2,520 from its previous close of PhP 2,470. By this time, the stock already touched it's intraday high at PhP 2,560.

After zooming straight up; the market took a slight breather and looked for a support.

9:46------------56.70
9:48------------52.94
9:53------------50.50------------------3449.05

It settled at 3,450 for its support and then resumed its uptrend.

9:59------------56.67
10:03-----------60.68
10:07-----------63.18
10:26-----------67.10-------------------3465.65

Another minor correction.

10:53-----------64.63
10:54-----------61.45
11:07-----------60.97--------------------3459.52

The market had enough strength going into the last hour of trading and continued its run up.

11:10------------67.77
11:18------------69.73
11:50------------72.69
11:55------------73.79
11:58------------75.68
12:01------------76.12------------------3474.67 (+2.24%) the day's high
Market Close.

Advancers 111
Decliners 6

Value turnover PhP 7.047 bn
Cross transactions PhP 2.970 bn
Block sales PhP 202 mn

Sectoral Indices rebounded across-the-board.
Services +3.09%
Property +2.27%
Holdings +2.26%
Industrial +2.03%
M-O +1.97%
Financial +0.80%

Closing prices of select stocks - May 31, 2007.
ABA - PhP 0.013
ALI - PhP 15.50
AR - PhP 0.013
DGTL - PhP 1.56
EIB - PhP 0.54
LOTO - PHP 16.50
MPI - PhP 4.40
NRCP - PhP 4.35
SUN - PhP 0.73
V- PhP 1.68
WEB - PhP 0.0575

Wednesday, May 30, 2007

Market breaks down and tests the 3,400 support - May 30, 2007

The DJIA was up 14.06 points and ended up at 13521.34 after the Memorial Day weekend break. The local equities market started listlessly and even tried to go higher.

PSEi previous close - 3452.62 (May 29, 2007)

time---------------change-----------------PSEi
9:31-------------up 1.54
9:32-----------down 0.36
9:33-------------up 1.20
9:36----------------2.36
9:38----------------5.98------------------3458.60 (day's high)

After the market failed to gain a strong upward momentum just like the past couple of day's, it sputtered and started falling.

9:43-------------up 2.81
9:51----------------1.38

When the market fell through the immediate support at 3,450, the drop accelerated

9:53----------down 3.56-------------------3449.06
9:54----------------6.88
10:00--------------11.69
10:01--------------17.38-------------------3435.24

At this point, the next target was to test the support at 3,420.

10:41----------------------------PhP 46.232 vs $1.00
10:45--------down 20.60
10:49--------------26.62
10:54--------------28.25
11:06--------------30.35--------------------3422.27

The 3,420 support is tested.

11:12--------down 34.19--------------------3418.43
11:22--------------34.50

When it was evident that the support level won't hold, another selling spurt ensued in the final half hour of trading.

11:28--------down 36.54
11:30--------------36.76
11:32--------------39.68
11:36--------------41.55
11:39--------------42.33
11:41--------------46.50--------------------3406.12

Initial test of the 3,400 level.

11:45--------down 43.23
11:47--------------36.25---------------------3416.37

Another round of selling in the final ten minutes had the market falling.

11:50--------down 42.37
11:53--------------44.87
11:54--------------46.05
11:56--------------48.88
11:57--------------53.75---------------------3398.87

The key support at 3,400 is broken and the market then touched its day's low

11:58---------------58.01--------------------3394.61 (the day' low)
11:59---------------55.55
12:01---------------54.07--------------------3398.55 (-1.57%)
Market Close.

Advancers 23
Decliners 96

Value turnover PhP 5.113 bn
Cross transactions PhP 1.955 bn

Sector indices were down across-the-board.
M-O -3.29%
Services - 2.31%
Holdings -1.46%
Property -1.28%
Industrials -1.07%
Financials -0.59%


Market momentum turned around as the PSEi broke several support levels today. A bounce is possible after a large sudden drop; but the 3,400 support must hold immediately to calm jittery investors. The second and third liner stocks which were the darling of market punters the past day's also suffered deep and sudden drops.
If the downward momentum continues, the chart gap opening at the 3364-3381 may be targetted.


Closing prices of select stocks - May 30, 2007
ABA - PhP 0.013
ALI - PhP 15.00
AR - PhP 0.012
DGTL - PhP 1.56
EIB - PhP 0.54
LOTO - PhP 16.25
MPI - PhP 4.35
NRCP - PhP 4.25
SUN - PhP 0.70
V - PhP 1.66
WEB - PhP 0.049




Just heard on Bloomberg TV that the Shanghai market is down today by 7.00% (after going up nearly 140% the past year). The Shanghai B index is down by 9.0%. China has just increased the tax on stock market transactions in order to stem the explosive boom in the market. A growing concern of a possible burst of the equities bubble in China has been sounded off earlier by former US Fed chairman Alan Greenspan and HongKong business mogul Li Ka Shing. Almost 300,000 new stock market investors has been recorded daily in China ( this is the 4th generation of investors and they are prone to sell at once with any downturns). It is estimated that there are now 21 million (more than the population of Taiwan) stock market investors in the Chinese stock market.

Most Asian and European equities markets are down.

Tuesday, May 29, 2007

The day's market - May 29, 2007

Article from an interview regarding the Philippine stockmarket performance and outlook.


From BusinessWorld - May 29 2007


PSEi previous close - 3443.56 (May 28, 2007)

With the US markets on holiday; the local equities market continued with its consolidation mode but with a slightly upward bias. It opened higher as the second and thirdliners enjoyed brisk trading.

time-----------up--------------PSEi
9:31-----------0.46
9:45----------13.36
10:00---------18.21------------3461.77 (day's high)

Within half an hour, the market touched it's days high. the market then just drifted sideways.

10:57---------1.62-------------3445.18

Another hour of trading and the market is almost back where it started as most of the gains were given up. The market moved within a narrow trading range the rest of the session.

11:31--------11.84
11:59--------6.44--------------3450.00
12:01--------9.06--------------3452.62 (+0.26%)
Market Close.

Advancers 66
Decliners 41

Value turnover PhP 4.496 bn
Cross transactios PhP 1.958bn
Blockn sales PhP 143 mn

Sectoral Indices
Services +1.56%
M-O +0.61%
Industrial -0.03%
Holdings -0.09%
Financial -0.58%
Property -1.41%

Closing prices of select stocks - May 29,2007
ABA - PhP 0.013
ALI - PhP 15.25
AR - PhP 0.014
DGTL - PhP 1.64
EIB - PhP 0.55
LOTO - PhP 16.50
MPI - PhP 4.35
NRCP - PhP 4.35
SUN - PhP 0.70
V - PhP 1.68
WEB - PhP 0.049

Monday, May 28, 2007

The day's market - May 28, 2007

The US DJIA was up by 66.15 points last Friday and closed at 13,507.28. It regained most of its losses from Thursday. (Trading in the US equities market will be closed for Memorial Day.)

PLDT ADRs was up by $1.72 to close at $55.22. Converting it at PhP 46 to $1.00; this comes out to PhP 2420. lat Friday PLDT last traded at PhP 2,505.

The local equities market was in a consolidation mode. The PSEi touched a high of 3464.40 (up by 22. 64) points an hour into trading but gave up most of its gains when traded ended. It had a day's low of 3464.40. The peso was once again below the PhP 46 level against the US$.

PSEi up 1.80 (+0.05%) points to close at 3443.56

Advancers 58
Decliners 62

Value turnover PhP 3.601 bn
Cross transactions PhP 1.290 bn

Sectoral Indices
Sevices +1.56%
M-O +0.61%
Industrial -0.03%
Holdings -0.09%
Financial -0.58%
Property -1.41%

The market is now into a consolidation mode. It is deemed to have gone up too fast. The market reached a high at 3517.13 just last week (May 23,2007) and that point was more than 18% higher than the low it reached a little less than two months ago( 2965.8o last March 6, 2007) ; investors are wary of a deep correction and tentative to be aggressive in the market.

The current trading range of the market is at 3,420 - 3,480. Brisk trading in the smaller cap issues however is keeping investors and punters relatively busy. Long term market sentiment remains positive. Newspaper reports cite that the combined earnings last year of listed companies in the Philippine stock market posted a 26.52% increase over the previous year (PhP 261.1 bn from PhP 204.75. (Index companies even posted a 33.45% improvement on earnings).



Closing prices of select stocks - May 28, 2007
ABA - PhP 0.013
ALI - PhP15.00
AR - PhP 0.014
DGTL - PhP 1.58
EIB - PhP 0.55
LOTO - PhP 16.25
MPI - PhP 4.40
NRCP - PhP 4.35
SUN - PhP 0.69
V - PhP 1.68
WEB - PhP 0.049

Friday, May 25, 2007

The day's market - May 25, 2007

The local equities market got a jolt sure enough, because of the decline of 84.52 points overnight in the US markets. The DJIA closed at 13,441.13. PLDT ADRs also fell by $1.39/share. These unforeseen (though not totally unexpected) events are taken as an escuse for a further correction and a cue for some investors to sell.

PSEi previous close - 3470.77 (May 24, 2007)

time---------------down---------------PSEi
9:31---------------16.91--------------3453.86

The immediate support at the 3,450 level is immediately broken.

9:32---------------24.38
9:36---------------31.39
9:37---------------35.37
9:38---------------37.69
9:41---------------39.79
9:43---------------40.66
9:45---------------41.15
9:54---------------43.95-----------------3426.82 (day's low)
10:08----------------------PhP 46.385 vs $ 1.00

The market fell in a steep decline in the first thirty minutes of trading as the 3,450 support did not hold this time. The next support tested was at the 3,400/3,420 level. The Philippine peso was also weaker in today's trade and this also added to the negative sentiment in the stock market.

The market rallied in the next hour of trading as investors scooped up bargains that presented itself with the market's very fast drop.

10:13----------37.47
10:23----------34.67
10:25----------31.86
10:29----------28.76
10:39----------26.26
10:42---------23.77
10:45---------22.53
10:51---------21.99
10:53---------21.41
11:08---------20.07---------3450.70

The 3,450 level was broken as a resistance with this run up; and the market tried to firm up its support.

11:18----------13.71
11:21----------11.83---------3458.97

11:28---------19.33---------3451.44

The 3450 level still held.

11:29---------14.24
11:39---------11.21
11:52---------13.15
11:54---------16.07---------3454.70

A big drop in the final minutes had the market close below the 3450 level.

12:01---------29.01---------3441.76 (-0.83%)
Market Close.

Advancers 44
Decliners 68

Value turnover PhP 5.534 bn
Cross transactions phP 2.577 bn

Sectoral Indices were mostly down.
M-O - 1.67%
Property -1.17%
Financial -1.17%
Holdings -1.07%
Industrial -0.86%
Services +0.33%

Closing prices of select stocks - May 25, 2007
ABA - PhP 0.013
ALI - PhP 14.25
AR - PhP 0.013
DGTL - PhP 1.56
EIB - PhP 0.55
LOTO - PhP 16.25
MPI - PhP 4.45
NRCP - PhP 4.40
SUN - PhP 0.71
V - PhP 1.70
WEB - PhP 0.050

Thursday, May 24, 2007

The day's market - May 24, 2007

The Dow Jones was lower by 14.30 points and closed at 13525.65. Yesterday, the market closed at its low and it is still looking for its support.

PSEi previous close 3466.56 (May 23, 2007)

time--------------change--------------PSEi
9:31--------------up 3.02
9:32-----------------0.08
9:33-----------down 2.19
9:35-----------------0.47
9:36--------------up 0.86
9:38-----------------5.83
9:43-----------------7.98-------------3474.54 (day's high)

The market opened flat and tried to advance early in the trading day; but the downward momentum from yesterday was still felt.

9:53--------------up 3.51
10:04----------down 0.37
10:07----------------1.48
10:11-----------------3.69
10:15-----------------5.74
10:23-----------------7.01
10:54-----------------8.96
10:55----------------10.83
10:56----------------13.40
10:58----------------15.34
11:01----------------15.78---------3450.78 (the day's low)

The next support at the 3,450 level held its ground, and the market bounced back a little.

11:02----------down 14.07
11:07----------------11.99
11:09----------------10.02
11:11-----------------9.59---------3456.97

11:16----------------14.29---------3452.27

Another test of the support was made. It was found to be strong enough and the market rallied to recoup its losses.

11:24----------down 10.32
11:32-----------------8.33
11:33-----------------4.60
11:45-----------------3.62
11:47--------------up 0.40
11:49-----------------2.67
11:51-----------------5.30
11:54-----------------6.37
11:55-----------------7.58
11:59-----------------2.12
12:01-----------------4.21----------3470.77 (+0.12%)
Market Close.

Advancers 49
Decliners 55

Value turnover PhP 5.278 bn
Cross transactions PhP 2.801 bn

Sectoral Indices were mixed
Industrial +0.77%
Services +0.71%
Holdings +0.37%
Financial -0.34%
M-O -0.76%
Property -0.85%

The market support seems to be at the 3,450 level at this point. The resistances are at the 3,480 and 3,500 level. Barring any major jolts, such as a huge drop in the US markets (which has not had a sizeable correction after gaining more than 5% the past month); or the failure of the COMELEC to proclaim the election winners and etc. ; the local equities market is seen to move within this range.

Closing prices of select stocks - May 24, 2007
ABA - PhP 0.013
ALI - PhP 15.50
AR - pHp 0.013
DGTL - PhP1.56
EIB - PhP0.54
GO - no trade
GOB - no trade
LOTO - PhP 16.00
MPI- PhP 4.50
NRCP - PhP 4.40
SUN - PhP o.70
V - PhP 1.70
WEB - PhP 0.050

Wednesday, May 23, 2007

The day's market - May 23, 2007

After trading at record high levels, momentum is sputtering a little bit. The market tried to advance higher but soon enough fell to a correction.

The Dow Jones Industrial Average was flat and was down by only 2.93 points and closed at 12,539.95. PLDT ADRs (American Depository Receipts) traded in WallStreet however was down by $0.49 to close at $54.67. This is equivalent to only PhP 2515 (At PhP 46.00 to $1.00), and PLDT closed yesterday at PhP 2,550.


PSEi previous close - 3505.03 (May 22,2007)

time------------change ------------PSEi
9:31-----------up 1.05
9:32--------------8.88
9:35-------------10.59
9:36-------------12.10-------------3517.13 (the day's high)

This is the new all-time high level.

9:38-------------5.02
9:41-------down 1.14
9:47-------------5.20--------------3499.83

The 3,500 immediate support was easily broken and this was the excuse needed for a correction.

9:50------------6.44
9:54------------7.87

At this point, PLDT (TEL) opened trading at PhP 2,520 and immediately fell further to PhP 2,500.

10:04--------20.40----------------3484.63
10:05--------24.68----------------3480.35
10:10--------28.48----------------3476.55
10:13--------24.73----------------3480.30

The 3,480 level was next tested and failed to hold. The market then hovered below this new immediate resistance.

10:17--------28.75
10:23--------30.36
10;28--------31.65
10;30--------32.27
10:40--------32.39
10:41--------33.13
10:50--------35.64
10:51--------36.05------------------3468.98

10:53--------30.04
10:58--------28.19
11:13--------27.41------------------3477.62

The resistance at 3,480 is tested and it held.

11;31---------35.90
11:33---------36.99-----------------3468.04

11:48---------25.18-----------------3479.85

The market had another stab to break the 3,480 level. having failed to do so, the selling slightly accelerated in the final minutes of trading.

11:55---------29.04
11:57---------34.94
11:59---------35.10
12:01---------38.47-----------------3466.56 ( -1.10% /the day's low)
Market Close.

Advancers 51
Decliners 57

Value turnover PhP 8.411 bn
Cross transactions PhP 4.200 bn

Sectoral Indices
M-O +2.35%
Financial +).23%
Holdings - 0.11%
Property - 0.66%
Industrial - 1.74%
Services - 2.39%


Closing prices of select stocks - May 23, 2007
ABA - PhP 0.013
ALI - PhP 15.75
AR - PhP 0.013
DGTL - PhP 1.58
EIB - PhP 0.53
GO - no trade
GOB - no trade
LOTO - PhP 16.00
MPI - PhP 4.50
NRCP - PhP 4.45
SUN - PhP0.70
V- PhP 1.72
WEB - pHp 0.050

Tuesday, May 22, 2007

The day's Market - May 22, 2007 (PSEi at the 3,500 level)

President Gloria Macapagal Arroyo (PGMA) graced the opening of today's trading session at the Makati trading floor. She congratulated the Philippine Stock Exchange and investors as local equities are now trading at all-time high levels.


PSEi previous close - 3466.34 (May 21, 2007)

time-----------up----------------PSEi
9:31---------8.19
9:32---------9.14
9:33--------11.01
9:34--------12.66
9:35--------13.79--------------3480.13

The market opened with a buoyant sentiment and immediately challenged the 3,480 (yesterday's intraday high) resistance level. Upon breaking 3,480, the market tested new highs and maintained the level as a support.

9:36--------16.14
9:37--------16.85
9:38------------------PhP 46.156 vs $ 1.00
9:39--------13.98

At this point; asian equities markets were also up.

9:45-------15.51
9:47-------17.76
9:51-------18.18
9:54-------20.63------------3486.97
10:02------19.48
10:03------18.92
10:04------17.68
10:05------15.27------------3481.61

With the 3480 serving as a new immediate support, the market heads higher and sets its sights at the 3,500 level.

10:11-------20.26
10:19-------21.95
10:27-------15.86------------3482.20

The markets advanced in the next hour to test the 3,500
10:33-------20.50
11:03-------31.46-------------3497.80

Initial test. Failing to break the resistance, the market retreated to gather momentum.

11:10-------26.17
11:13-------25.58

Next test.

11:19-------29.95
11;20-------30.34
11:23-------32.20------------3498.54

The 3,500 level is breached.

11:24-------35.88------------3502.22
11:25-------37.17
11:26-------39.32------------3505.66 (the day's high)
11:30-------33.66------------3500

The market now moved sideways in the last hour of trading as it tried to consolidate at this level.

11:35------------------PhP 46.086 vs $ 1.00
11:40-------31.97------------3497.91
11:41-------36.51------------3502.85
11:47-------29.17------------3495.51
11:54-------35.82------------3502.16
11:58-------33.67------------3500.01

A last minute minor surge had the market close near its day's (and also another all time) high.

11:59-------37.96------------3504.30
12:01-------38.69------------3505.30 (+1.12%)
Market Close.

Advancers 63
Decliners 46

Value turnover PhP 7.307 bn
Cross transactions PhP 2.720 bn

Sectoral Indices were higher across-the-board.
Property +1.71%
Financial +1.58%
Holdings +1.23%
Industrial +0.69%
Services +0.28%
M-O +0.18%

Closing prices of select stocks - May 22, 2007
ABA - PhP 0.012
ALI - PhP 15.75
AR - PhP 0.013
DGTL - PhP 1.58
EIB - PhP0.53
GO no trade
GOB no trade
LOTO - PhP 16.00
MPI - PhP 4.50
NRCP - PhP 4.35
SUN - PhP 0.70
V - PHP 1.74
WEB - PhP 0.050

Before trading - May 22, 2007

Dow Jones Industrial Average - down 13.65 points (-0.10%) to close at 13542.88


From the Manila Bulletin Business Pages
The peso is at a 7-year high. It closed at PhP 46.31 per US dollar and is at its highest since Oct, 2, 2007. Volume reached a whopping $971.85 mn

Inflation still tame-BSP. The country's inflation rate rose to 2.3% in April from a seven-year low of 2.2% in March

Yields on bills were mixed at yesterday's Bureau of Treasury auction.The 91-day T-bill fell to 2.996% from 3.044%. The 182-day day surged to 4.274% from 3.721% and the one year paper jumped in yield to 5.174% from 3.820%, although this is partly a reflection of the long period since the government last issued the 364-day paper - not since the Feb 19 auction.

Monday, May 21, 2007

The day's market - May 21, 2007

A week after the elections and the market is now trading at all time high levels. Sentiment is cautiously bullish as local equities move into uncharted territories


PSEi previous close - 3449.18 (May18, 2007)
time-------------up --------------PSEi
9:31------------12.08---------------3461.26

The market opened up immediately and continued its rise to reach a high at 3,480.11 (+30.93%) points in the first 30 minutes of trading. The peso was quoted at php 46.515 to the dollar. The market then just moved sideways the rest of the trading day to maintain its modest gains.

12:01---------17.16----------------3466.34 (+0.50%)

Advancers 71
Decliners 33

Value turnover PhP 4.920 bn
Cross transactions PhP 1.403 bn

Sectoral Indices
M-O +3.85%
Property +1.92%
Financialc +0.33%
Holdings +0.22%
Services +0.15%
Industrial -0.39%

Closing prices of select stocks - May 21, 2007

ABA - PhP 0.012
ALI - PHP 15.50
AR - PhP 0.013
DGTL - PhP 1.54
EIB - PhP 0.54
GO no trade
GOB no trade
LOTO - PhP 16.00
MPI - PhP 4.55
NRCP - PhP 4.25
SUN - PhP 0.70
V - PhP 1.74
WEB - PhP 0.050

Saturday, May 19, 2007

Quote from the Philippine Daily Inquirer (PDI) Article - May 19,2007

..............."We are trying to test the 3,450 level if the election counting would push through smoothly. It would go up higher by next week and maybe set new all time high"......... Philippine Daily Inquirer ; May 19, 2007 A15



****The Dow Jones Industrial Average (DJIA)was up by 79.81 points on Friday and closed at 13556.53. (It touched a high of 1361.95)

Friday, May 18, 2007

The Philippine Stock Market reaches a new all time high

The Philippine Stock Exchange opened tentative but still with an upward bias as the local equities market showed inherent strength. The US market closed down by 10.81 points and closed at 13476.72.
Gold fell $4.50 and was at $656.30 / ounce and Oil was up and neared the $ 65 / barrel level.


time--------------up---------------PSEi
9:31-------------7.14---------------3424.83
9;32-------------2.42
9:33-------------3.20
9:34-------------3.41
9:35-------------1.71
9:36-------------6.99
9:37----------------------- PhP 46.773 vs $ 1.00
9:39-------------5.59
9:41-------------9.88---------------3427.57

The immediate resistance at 3425 is broken. The market consolidates in the next few minutes as it tries to build a base at this level.

9:43------------8.39
9:45------------8.59
9:51-----------13.04
9:52------------8.76
9:54------------8.31
9:55-----------12.59
9:57------------9.47

The market now moves to a higher level as the 3,425 level holds and investors gain renewed confidence that equities will move higher.

9:58-----------16.05--------------------3433.74
10:00----------17.65
10:02----------18.02
10:04----------19.14--------------------3436.83
10:06----------17.06
10;15-----------16.81
10:17-----------17.94
10:18----------------------PhP 46.741 vs $ 1.00
10:21-----------15.67
10:23-----------17.16
10:24-----------16.25
10:28-----------14.13
10:29-----------12.93
10:31-----------17.94
10:33-----------18.69
10:37-----------17.57
10:39-----------20.80
10:41-----------22.94---------------3440.63
10:49-----------17.01
10:53-----------------------PhP 46.723 vs $ 1.00
10:55-----------18.65
10:57-----------20.56
11:00-----------16.50
11:01------------22.43---------------3440.12

The 3,450 resistance is now within sight and is vigorously targetted.

11:02------------22.98
11:03------------24.27
11:04------------24.63
11:05------------25.45
11:07------------28.40
11:08------------31.19
11:09------------30.30
11:11------------30.31
11:12------------30.75
11:14------------28.91
11:17------------31.04
11:18------------31.26
11:19------------33.20--------------3450.89

The resistance now tested once more.

11:20-----------34.95
11:21-----------37.11
11:22-----------35.75
11:23-----------35.95
11:25-----------36.99
11:26-----------40.24---------------3457.93 (the new all time- high)

The market just hovered around the 3,450 level, testing its strength. Lack of time as trading nears its end ahead of the weekend prevented further advance.

11:30----------38.73
11;33----------37.72
11:38----------36.45
11;42----------37.97
11:47----------33.77
11:48----------30.71-----------------3448.40
11:50----------34.28
11:51----------30.93
11:52----------34.26
11:55----------33.02-----------------3450.71
11:57----------36.90
11:58----------37.45-----------------3455.14
11:59----------34.18
12:01----------31.49-----------------3449.18 (+0.92% and a new all time high close)
Market Close.

Advancers 62
Decliners 40

Value turnover PhP 9.740 bn
Cross transactions PhP 1.615 bn
Block sales PhP 4.817 bn

Sectoral Indices
Industrial +2.16%
Holdings +1.47%
Financial +0.69%
Services +0.49%
M-O +0.33%
Property -0.50%

Closing prices of select stocks - May 18, 2007
ABA - PhP 0.012
ALI - PhP 15.25
AR - PhP 0.012
DGTL - PhP 1.60
EIB - PhP 0.53
GO - PhP 0.26
GOB - PhP 0.26
LOTO - PhP 15.75
MPI - PhP 4.60
NRCP - PhP 4.25
SUN - no trade
V - PhP 1.70
WEB - PhP 0.050

Thursday, May 17, 2007

The Philippine Stock Market consolidates between the 3,400 - 3,450 range

The local equities market got a big boost in the opening because of another big advance in WallStreet. The US DJIA gained 103.69 points to close at 13,487.53. Investors jumped into the market upon the opening bell.

PSEi previous close - 3409.20 (May 16, 2007)

time-----------change-------------PSEi
9:31-----------up 43.18----------3452.38 (the day's high)
9:32--------------24.52----------3433.72

Today is the ex date for Ayala Corp (AC); a key index issue, so the adjusted previous close is at PhP 500. It opened at PhP 545 and immediately lifted the market to it's high.. After just a minute, it traded at PhP 515 and the gains were also immediately cut.

Sentiment however was already bullish and the market made another attempt to challenge the 3,450 resistance level.

9:35--------------25.40
9:36--------------29.18
9:38--------------29.48---------(Php 46.875 vs. $1.00)
9:39--------------33.29
9:41--------------34.16
9:42--------------36.48
9:46--------------36.96
9:47--------------40.27------------3449.27

The 3,450 resistance proves to be strong and pushes back the market. And again given the steep advance, the market was prone to another deep retracement.

9:48--------------37.82
9:51--------------34.25
9;54--------------32.82
10:01-------------31.89
10:03-------------29.50
10;04-------------28.84
10:05-------------23.83
10:06-------------20.29-----------3429.49

Market tried to consolidate at these levels.

10:07------------24.58
10:08------------26.04

10;15------------22.50
10:17------------24.29

10:20------------19.09
10:21------------21.51

10:26------------15.04------------3424.24

The 3425 level was tested as a minor support.

10:27------------20.04
10:28------------21.56
10:31------------17.12
10:36------------14.98-----------3424.18

The minor support is still weak and did not hold.

10:37------------13.82
10:40------------13.16
10:42-------------6.88

10:43-------------9.71
10:47-------------5.67
10:48--------down 0.25------------3408.95

The PSEi went into negative territory and the market was back at zero. The market now struggled to keep up.

10:51----------up 11.33
10:55--------------5.70
10;58--------------4.45
11:03--------------4.24
11:06--------------2.03

11:16--------------7.54
11:17--------------8.18

11:23--------------1.21
11:24--------------0.06
11:27---------down 1.08

11:28-----------up 7.25
11:30--------------5.39
11:31--------------2.04

11:33---------down 2.91
11:34--------------3.41
11:35--------------unch------------(PhP 46.818 vs $ 1.00)
11:36---------down 3.57------------3405.63 (the day's low)

At this point, the market consolidated just above the 3,400 support level.

11:37--------down 1.63
11:38-------------2.06

11:39----------up 1.10
11:44-------------3.68
11:47-------------1.82
11:49--------down 2.13
11:51----------up 3.33
11:53-------------1.65
11:56-------------4.65
11:57-------------5.69
11:58-------------2.94
11:59-------------4.29
12:01-------------8.49-----------3417.67 (+0.25%)
Market Close.


Advancers 44
Decliners 53

Value turnover PhP 3.919 bn
Cross transactions phP 1.403 bn

Sectoral Indices
Holdings +1.95%
Pproperty +1.17%
Financial +0.31%
Services -0.65%
M-O -0.75%
Industrial -1.29%

It was another volatile trading day and the the market has been trading in a wide range. It has been moving within the key support at 3,400 and key resistance at 3,450. Investor tentativeness can be seen as decliners outnumbered gainers even if the market was up and sectoral indices close mixed.

Gold was down by almost $12 to close near the $660/ounce level and the M-O / Mining and Oil sector fell.

Closing prices of select stocks - May 17, 2007
ABA - PhP 0.012
AR - PhP 0.012
ALI - PhP 15.25 (prev close adjstd to PhP15.00 bec of 20% stock div)
DGTL - PhP 1.64
EIB - PhP 0.53
GO - no trade
GOB - no trade
LOTO - PhP 15.50
MPI - PhP 4.65
NRCP - PhP 4.30
SUN - no trade
V - PhP 1.74
WEB - PhP 0.050

Wednesday, May 16, 2007

The PSEi challenges and fails to break the 3,450 resistance level

Market Euphoria and momentum had the market open strongly and the PSEi (Philippine Stock Exchange Index) tested the 3,450 resistance. The Dow Jones Industrial Average (DJIA) continued its rise as it advanced 37.06 points to close at 13,383.84.

PSEi previous close - 3408.73 (May 15, 2007)

time-----------change------------PSEi
9:31----------up 10.26
9:32-------------10.65
9:33-------------11.87
9:34-------------13.24
9:35-------------14.09

After just five minutes, the lower range of the resistance level (3,425 - 3,450) is breached.

9:36-------------21.04---------3429.77
9:37-------------21.71
9:38-------------22.55
9:40-------------24.19
9:41-------------26.08
9:42-------------27.71
9:45-------------27.83
9:46-------------32.83
9:47-------------33.48
9:50-------------35.82
9:51-------------40.93
9:52-------------43.00--------3451.73 (the day's high)

Within less than half an hour, the 3,450 level is tested. As mentioned, a steep rise is very susceptible to a deep correction. With prices going up too fast too soon, investors are likely to take profits at once. And sometimes selling gets a bit overdone and could lead to panic selling thereby gains are easily wiped out and the sentiment/trend is reversed. Today's trade is a good example.

9:53------------35.91
9:55------------31.41
9:57------------29.68
10:01-----------29.85
10:07-----------28.49
10:10-----------25.40
10:11-----------22.61
10:14-----------22.07
10:18-----------20.72
10:23-----------20.48
10:24-----------20.08
10:27-----------19.84
10:29-----------19.55
10:30-----------15.98
10:31-----------14.37-------------3423.10

The market tries to find support at the 3,425 level and rebounds a bit.

10:32-----------17.96
10:36-----------18.16
10:37-----------18.41
10:41-----------20.05

The market failed to reach higher levels. The market became tentative in the next few minutes.

10:44----------15.54
10:49----------19.47
10:52----------17.81
11:01----------14.23-------------3422.07

It became evident that the support at 3,425 won't hold. Sentiment has now reversed and selling pressure grew stronger.

11:05---------13.34
11:09---------12.37
11:12---------11.85
11:15---------11.69
11:24----------7.86
11;27----------6.97
11:29----------4.11
11:33----------3.59
11:34-----down 0.44

With less than 30 minutes to go and the market completely giving back its gains, trading became volatile.

11:35-------up 3.00
11:37----------5.52
11:41----------1.28
11:43----------7.08
11:46----------2.68
11:50----------0.53
11:52----------4.67
11:57----------3.58
11:59------down 2.07--------3406.66 (the day's low)
12:01--------up 0.47--------3409.20
Market Close.

Advancers 58
Decliners 59

Value turnover PhP 6.052 bn
Cross transactions PhP 2.552 bn

Sectoral Indices
Financial + 0.82%
Property + 0.77%
M-O + 0.19%
Holdings - 0.28%
Industrial -0.35%
Services -0.57%

The market became very tentative. Advancers trailed decliners and sectoral indices closed mixed. The market is likely to consolidate and test the 3,400 level at this point. A break may lead to a deeper correction. If a strong support is seen at this level, the next run up will have a better chance of being sustained.



Closing Prices of select stocks - mAY 16, 2007
ABA - PhP 0.012
ALI - PhP 18.00
AR - PhP 0.012
DGTL - PhP 1.66
EIB - PhP 0.54
GO - PhP 0.27
GOB - PhP 0.27
LOTO - PhP 15.50
MPI - PhP 4.60
NRCP - PhP 4.30
SUN - no trade
V - PhP 1.76
WEB - PhP 0.049


Some more data from Bloomberg TV (May 16, 2007 - 4:30 pm Mla time)
Gold $670.68 / ounce
Oil $62.96
PhP 46.93 vs US$1.00


Articles from BusinessWorld - May 16, 2007


BusinessWorld May 16, 2007 S1/2



BusinessWorld May 16, 2007 S1/7

Tuesday, May 15, 2007

The Philippine Stock Market breaks 3,400c- May 15, 2007

The morning after the elections saw the local equities market strongly advancing towards its record levels. After yesterday's trading break, investors flocked to the market and pushed the index past its immediate resistance at 3,400 as the political overhang over the past several months has been lifted.

The recovery in the US Dow Jones Industrial Average (US DJIA) on Friday (May 11 ; up by 111.09 points to close at 13326.22) and Monday (May 14 ; up by 20.56 to close 13346.78) after last Thursday's (May 10) big drop also boosted sentiment.

PSEi previous close - 3364.61 (May 11, 2007)

time-----------------up----------------PSEi
9:31----------------17.37
9:32----------------28.76
9:34----------------31.58
9:35----------------35.00-------------3399.61

After just five minutes into trading, the 3,400 resistance is already challenged and broken easily.

9:37---------------38.09
9:38---------------44.55
9:39---------------51.18
9:40---------------54.71
9:43---------------55.60
9:46---------------56.35
9:48---------------58.02------------3422.63

After a little more than 10 more minutes, the next resistance at 3,425 - 3450 was tested.

The market then consolidated in the next ten minutes.

9:49--------------51.13
9:50--------------50.46
9:54--------------54.95
9:55--------------56.82
9:56--------------57.28
9:57--------------54.01
9:59--------------50.64
10:01-------------56.32
10:02------------57.84
10:08------------60.24--------------3424.85

Upon breaking the lower tier of the resistance level, the PSEi tried to proceed to higher levels.

10:11-------------62.38
10:12-------------65.27
10:13-------------66.03
10:14-------------66.59
10:20------------66.80
10:21-------------67.07
10:22------------68.21-----------------3432.82 (the day's high)

An hour into trading, the market reached its day's high. After going up too fast too soon, it is prone to profit taking and bouts of selldowns. The market became somewhat volatile and trades in a wide range.

10:25------------64.00
10:29------------60.84
10:30------------54.53
10:36------------51.11

10:38------------54.58
10:47------------51.56
10:49------------50.89
10:51-------------49.15
10:53-------------47.64
11:04-------------43.99
11:08-------------41.56---------------3406.17

11:18--------------44.53
11:19--------------45.10
11:23--------------45.39
11:26--------------45.99
11:32--------------46.99

11:33---------------42.56
11:35---------------47.37
11:37---------------47.31
11:38---------------49.29

11:46--------------41.44
11:49--------------41.07
11:50--------------39.34
11:52--------------39.69

11:56--------------45.38

11:57---------------38.34
11:58---------------35.65-------------3400.26

The 3,400 level is briefly tested towards the close of the trading day, and managed to hold.

11:59---------------39.49
12:01---------------44.12------------3408.73
Market Close.

Advancers 85
Decliners 33

Value turnover PhP 5.71 bn
Cross transactions PhP 1.46 bn

Sectoral Indices
Industrial +2.75%
Holdings +1.84%
Property +1.35%
Financial +1.02%
Services +0.28%
M-O -0.43%

Market is now in a BULLISH MOOD. It is now on track to test its all time high levels. Investors can now concentrate on the economic fundamentals and company earnings.

Support at 3, 400 must hold and resistance is pegged at the 3,425- 3,450 levels. After this, it would be a breakout.

The peso is now just hovering at PhP 47.00 against the dollar.

Short term volatility may be experienced. As seen in the daily movement in the PSEi, market can move up or down very fast. This is a traders market; but it is riskier. For more conservative investors, buy fundamentlly sound stocks and hold for a longer period of time. For a start, a six month to one year time frame my be considered.


Closing prices of select stocks; - May 15, 2007
ABA - PhP 0.011
ALI - PhP 18.25
AR - PhP 0.012
DGTL - PhP 1.66
EIB - PhP 0.54
GO - PhP 0.28
GOB - PhP 0.28
LOTO - PhP 15.75
MPI - PhP 4.45
NRCP - PhP 4.35
SUN - PhP 0.73
V - PhP 1.76
WEB - PhP 0.05

Friday, May 11, 2007

The day's market - May 11, 2007 (The BULLS are preparing to run)

The Dow Jones plummeted by 147.74 points (-1.11%) overnight in Wallstreet to close at 13,215.13. This large drop unnerved some investors and the Philippine stock market opened lower.

PSEi previous close 3342.21 (May 10, 2007)

time------------change ------------PSEI
9:31---------down 10.57-----------3331.64
9:32----------------4.26
9:33----------------2.92

The market showed resiliency as it tried to mount a rally at once.

9:35---------------10.30
9:36---------------11.35

Another mild uptick. By this time, it was becoming evident that the market is not succumbing to any panic caused by the steep decline in the US market.

9:37----------------8.82
9:38----------------6.77

The decline at this point is mainly to test and find the market support.

9:43---------------8.33
9:47--------------10.07
9:49--------------11.74
9:50--------------12.06
9:53--------------14.40
9:58--------------17.07
9:59--------------17.58
10:00------------18.25--------------3323.96 (the day's low)

The market support at 3,325 was tested and proved to be strong as the PSEi immediately rebounded.

10:02------------11.50
10:04------------10:08
10:10-------------8.89
10:14-------------7.81
10:15-------------5.20
10:16-------------4.70

10:23------------6.24

After an hour's trading, the market moves into positive territory

10:31--------up 0.09
10:32-----------2.06
10:34-----------3.74

10:36-----------0.10
10:38-----------0.51
10:39-----------0.10
10:42-----------4.94
10:48-----------9.64
10:49-----------10.05---------------3352.26

The resistance was tested, and at first held its ground.

10:54------------6.26
10:59------------4.14
11:10------down 0.87

After this retracement, the market finally gained enough strength to mount its rally.

11:11--------up 3.06
11:24-----------4.99
11:28-----------7.26
11:34-----------9.34
11:35----------10.06
11:36----------13.10---------------3355.31

The resistance at 3,350 is broken and the market heads higher as buying activity accelerates.

11:37----------13.41
11;39----------14.93
11:40----------16.90
11:43----------17.10

The 3,350 level is tested as a support.

11:46---------13.39-----------------3355.60

The momentum enables it to hold and the market resumes its breakout advance.

11:50---------18.08
11:51---------19.26
11:56---------19.89
11:59---------22.77-----------------3364.98 (the day's high)
12:01---------22.40-----------------3364.61 (+0.67%)
Market Close.

Advancers 62
Decliners 48

Value turnover PhP 3.753 bn
Cross transactions PhP 1.056 bn

Sectoral Indices
Financial +1.29%
Holdings +1.14%
Industrial +1.01%
M-O +0.39%
Property -0.11%
Services - 0.17%


The market rally on the last day before the elections despite the big drop in the US equity market bodes well for next week trading. And with the market breaking out of the 3,350 resistance; the 3,400 level is well within sight. Testing its all time high level is not very far off.

Thursday, May 10, 2007

The day's market - May 10, 2007

Comments on yesterday's trading




BusinessWorld May 10, 2007


The Philippine Stock Market resumed its consolidation even if the US DJIA advanced more than 50 points overnight and close at 13362.87. Investors turned tentative. It was more of a waiting game for both buyers and sellers.


PSEi previous close 3345.98 (May 09, 2007)

time-------------change---------------PSEi
9:31--------------unch
9:32-------down 4.52
9:36--------------5.00
9:44--------------2.90
9:59--------------5.46
10:01-------------6.08
10:02-------------6.52
10:10-------------3.64
10:19-------------4.20
10:22-------------3.99
10:23-------------2.23
10:33-------------6.22
10:54-------------5.51
10:57-------------7.48
11:00-------------8.08--------------3337.90(the day'slow)
11:02-------------6.07
11:04-------------4.10
11:09-------------2.66
11:16-------------6.43
11:34-------------7.83
11:41-------------2.23
11:42-------------1.30
11:48-------------0.92
11:50-------------0.08


The market finally managed to inch up, but it was shortlived.

11:51----------up 1.51
11:54-------------2.06

11:56--------down 4.46
11:58-------------6.93
11:59-------------4.50
12:01-------------3.77-------------3342.21
Market Close .

The PSEi moved in a very narrow 10 point range. Support remains at 3,320 and resistance at 3,350.

Advancers 65
Decliners 52

Advancers outnumbered Decliners as market punters concentrated on the second and thirdliners.

Value turnover PhP 4.768 bn
Cross transactions PhP 1.071 bn
Block transactions PhP 1.082 bn

Net value turnover was lower as more than PhP 2.0 bn were crosses and block sales.

Sectoral Indices
M-O + 1.49%
Industrial + 1.16%
Services +0.07%
Property -0.26%
Holdings -0.40%
Financial -0.82%

The different sectors closed mixed.

Wednesday, May 9, 2007

The day's market - May 09, 2007

With the Dow Jones flat in WallStreet, the local equities market also consolidated.

PSEI previous close - 3333.95 (May 08, 2007)

time-----------change------------PSEi
9:31------------up 2.48
9:37---------------4.96
9:38---------------5.42
9:45---------------7.56

The market loses the little steam it has.

9:48---------------3.68
9:53---------------0.02

After trying to advance initially, the market declined and stayed in the red for most of the trading day.

9:55---------down 0.27
9:53---------------2.24
10:01--------------5.72
10:08--------------7.56
10:14--------------8.27
10:17--------------9.13-----------3324.82

The market touched its immediate support (3320-3325) and rebounded a little bit.

10:23-------------6.93
10:37-------------3.21

After a weak bounce, The support is tested once more.

10:44-----------12.01
10:50-----------14.24------------3319.71 (the day's low)

The support held.

11:00----------10.50
11:06-----------6.49
11:08-----------5.96
11:24-----------5.26
11:30-----------4.86
11:32-----------2.70

11:38-----------5.54
11:40-----------3.46
11:41-----------2.64

As selling eases and after finding the support holding, the PSEi now rallies in the last 20 minutes of trading.

11:42--------up 2.64
11:45-----------4.06
11:46-----------7.25
11:48-----------8.28
11;50-----------9.51
11:57-----------9.55
11:58----------11.92
11:59----------16.03--------------3349.98 (the day's high)
12:01----------12.03--------------3345.98 (+0.36%)
Market Close.

Advancers 52
Decliners 59

Value turover PhP 3.481 bn
Cross transactions Php 1.02 bn

Sectoral Indices +2.45%
Property +1.18%
Services +0.77%
Holdings +0.21%
Industrial +0.18%
Financial -0.76%

With the elections just a few days away, investors remain cautiously optimistic. The market managed to close near its high and is currently at its immediate resistance at 3,350. Even with today's advance, decliners however outnumbered gainers. The 3,300-3,325 support (the market's previous resistance) must hold so it can move higher to challenge the 3,400 level.

Tuesday, May 8, 2007

The day's market - May 08, 2007

Local equities continue to be a favored investment instrument. It again opened strong as investors position just ahead of the elections.

PSEi previous close - 3329.89 (May 07, 2007)

time-----------------up-------------------PSEi
9:31----------------9.40
9:32---------------10.74
9:33---------------12.40
9:38---------------15.46
9:44---------------18.04----------------3347.93

The 3,350 level is the immediate resistance (the high achieved last April 26).

9:46--------------- 14.61
9:48---------------17.32
9:49---------------20.27----------------3350.16

The resistance was broken and the market tried to continue to its advance.

9:50-------------21.93
9:52-------------24.04
9:55-------------24.34
9:57-------------25.95
10:04-----------27.99-----------------3357.88 (day's high)

The market failed to advance to higher levels. It's goal now was to find a support at 3,350.

10:06-----------22.29
10:18-----------20.88-----------------3350.77

Market support at 3,350 is still weak.

10;20-----------17.69
10:24-----------15.96

PSEi made another attempt to stay above 3,350

10:30-----------19.13
10:33-----------21.33-----------------3351.22

Failing to hurdle the immediate resistance, the market consolidated just below the 3,350 level. There were several up and down minor trends in the next hour of trading.

10:36-----------14.68
10:40-----------13.46
10:44-----------11.99

10:48-----------15.83
10:51-----------16.88
10:53-----------17.74

10:56-----------14.62
10:58-----------13.60

11:14-----------15.99
11:15-----------17.48
11:26-----------20.89------------------3350.78

After making the final stab at the immediate resistance and failing in its attempt, the market fell to profit taking in the last half hour of trading.

11:44-----------16.22
11:50-----------10.79

11:51-----------15.50

The last 10 minutes saw winding up of selling orders and it cut the day's gains. For investors who wanted to cash in before the elections, today's selling will be cleared on Friday (T+3 or trading day + 3 days), the last trading day before voting day. Tomorrow's selling/ trades will be settled on May 15 already.

11:54----------11.50
11:55-----------6.35
11:59-----------4.65
12:01-----------4.06--------------3333.95 (+0.12%)
Market Close.

Advancers 60
Decliners 44

Value turnover PhP 4.780 bn
Cross transactions PhP 1.718 bn

Sectoral Indices
Property +0.92%
Holdings +0.83%
Services -0.03%
Industrial -0.44%
Financial -0.48%
M-O -0.48%

Before trading - May 08, 2007

Quotes from an interview regarding yesterday's trading and market outlook

BusinessWorld - May 08, 2007




Other matters:

The DJIA continues its bullish run and advanced further by 48.35 points to close at 13, 312.97.

World Oil prices nears a 6 week low on increased output.

Foreign Exchange Reserves reach $ 25.026 bn in the 1st Q of the year. It is now just $1.00 bn short of the full year target of $ 26.00 bn in Gross International Reserves (GIR).

Inflation in April at 2.3% ( from 2.2% in March)

Monday, May 7, 2007

The day's market - May 07, 2007

The DJIA was up by 23.24 points on Friday and closed at 13,264.62. Again the local equities market took its cue from WallStreet and investors bought into the market upon the opening bell.

Foreign investors are showing their confidence in the country with Texas instruments and the Shimao group of China investing with billion dollar projects in the Philippines.


PSEi previous close - 3,278.48 (May 04, 2007)

time-------------up-----------------PSEi
9:31------------6.43
9:32------------8.09
9:36------------8.67
9:37------------9.29
9:39----------10.00
9:43----------11.86
9:46----------13.62
9:49----------13.93
9:50----------17.05
9:54----------18.19
9:55----------18.70
9:56----------19.02
9:57----------21.14---------------3299.62

The 3,300 level is challenged in the first half hour of trading. And unlike the past few trading days, the resistance was broken and the market kept its gains.

9:59---------25.44
10:00--------27.12
10:01--------29.09
10:03--------31.06
10:07--------31.76---------------3309.84

The market corrects after the fast advance and some investors locked in gains.

10:17--------26.94
10:25--------25.15
10:26--------23.88
10:41--------22.10

But aside from profit takers, the selling pressure has eased up as those who were wary of the elections already sold last week. The market sustained its advance.

10:49--------30.14
10;50--------31.86
11:08---------32.22
11:09---------34.19
11:14---------36.46
11:18---------39.03
11:19---------39.77
11:23---------41.82
11:26---------42.99
11:29---------43.75
11:31---------44.25
11:33---------44.57
11:35---------47.86----------------3326.34

The upper limit of the current resistance at 3,300 - 3,325 level is now tested. The market briefly pulls back, but rebounds at once.

11:47---------39.08
11:50---------42.30
11:52---------48.20

With 3,325 broken the market closes near its day high.

11:56---------49.54
11:58---------51.69
11:59---------52.40-----------------3,330.58 (day's high)
12:01---------51.41-----------------3,329.89
Market Close.

Advancers 60
Decliners 44

Value turnover PhP 4.887 bn
Cross transactions PhP 1.866 bn

Sectoral Indices
Financial +2.15%
M-O +2.01%
Services +1.83%
Property +1.18%
Industrial +0.72%
Holdings -0.14%

If the 3,300 - 3,325 finally holds up as a strong support, the market may be carried by momentum to higher levels and eventually challenge its all time high levels (at around 3,420).
Selling pressure has lightened and investors are more confident in taking positions ahead of Monday's (May 14) elections. New immediate trading range is seen at 3,300-3,350. Hopefully, the DJIA also will not suffer sudden unexpected drops.

Friday, May 4, 2007

The day's market - May 04, 2007

Trading remained lethargic and the Philippine stock market continues to consolidate. Local equities just took its cue once more from the Dow Jones Industrial Average (DJIA) which was up by 29.50 points and closed at 13,241.38 in WallStreet.

PSEi previous close - 3271.38 (May 03, 2007)

time---------------change-----------------PSEi
9:33--------------down 3.59
9:37--------------------0.47
9:45--------------------1.04
9:46-----------------up 2.73
10;12-------------------4.76
10;22-------------------9.01
10:29------------------11.21
10:32------------------14.48
10:47------------------15.21
10:51------------------16.30
10:55------------------17.71
11:00------------------18.36
11:04------------------18.94
11:05------------------19.89
11:08------------------16.19
11:10------------------15.79
11:20------------------17.71
11:25------------------19.37
11:25------------------20.09
11:39------------------18.97
11:44------------------19.64
11;45------------------20.54
11:48------------------21.21
11:50------------------20.93
11:57------------------16.29
11:58------------------13.68
11:59-------------------4.64
12:01-------------------6.95------------3278.48 (up 0.21%)
Market Close

Advancers 52
Decliners 40

Value turnover phP 3.809 bn
Cross transactions phP 1.588 bn

Thursday, May 3, 2007

The day's market - May 03, 2007

The Philippine stokc market remain very tentative. The rise in the Dow Jones Industrial Average (DJIA) by 75.74 points which led to another record high closing in WallStreet (13,211.88) perked up initial sentiment.

PSEi previous close - 3271.99 (May 02, 2007)

time--------------change---------------PSEi
9:31-------------up 4.42
9:32----------------5.65
9:36----------------6.93
9:38----------------8.25
9:42---------------10.51
9:43---------------12.93
9:44---------------14.60
9:46---------------19.07
9:59---------------20.30--------------3292.29

After the first half hour, the initial attempt to challenge the 3,300 level failed

10:01--------------15.80
10:02--------------17.87
10:05--------------18.59
10:08--------------19.19
10:09--------------21.36-------------3293.35 (the day's high)

The 3,300 level remains a strong resistance and once again, profit takers were quick to unload.

10:11--------------19.39
10:18--------------12.70
10:19--------------11.52
10:27--------------11.23
10:30--------------10.87
10:31---------------9.70
10:32---------------6.12
10:33---------------5.52
10:45---------------3.46
10:57---------------2.98
11:03---------------2.10
11:05---------------0.62

The market reversed sentiment and went to negative territory.
11:07-----------down 0.11
11:12-----------------1.41
11:34-----------------3.25
11:38-----------------5.70
11:56-----------------8.50-------------3263.49 (day's low)
11:59-----------------4.54
12:01-----------------0.46
Market Close.

Advancers 48
Decliners 48

Value turnover PhP 3.959 bn
Cross transactions PhP 1.346

Sectoral Indices
Industrial +0.49%
Property +0.46%
M-O -0.71%
Financial - 0.31%
Holdings -0.27%
Services - 0.17%

Investors remain uncertain for the short term leading to the elections. While some remain on the sidelines, they are quick to get in the market with any sign of a strong rally especially one that is seen to break key resistance levels. But these punters are also quick to take profits and reverse positions.
Long term investors who are looking beyond the elections are seen slowly accumulating and holding for an expected rally in the latter part of the year.

BusinessWorld Article- May 03, 2007


Quote from an interview regarding yesterday's trading; and market outlook -
BusinessWorld - May 03, 2007

Wednesday, May 2, 2007

The Philippine Stock Market - April 30 to May 02, 2007

Local equities has reverted into a range trading mode between the 3,200/3,220 to 3,300/3,335 level.

Monday - April 30, 2007
The DJIA was up by 14.44 popints and closed at 13,120.94. The market opened weak and the selling pressure to drive the index lower.

PSEi previous close 3318.38 (Apri 27, 2007)

time------------------down----------------PSEI
9:31------------------1.70
9:33------------------3.37
9:38------------------6.18
9:40------------------6.58
9:44------------------8.72
9:46-----------------10.45
9:49-----------------16.47
9:52-----------------17.19
9:53-----------------17.75
9:56-----------------18.35------------------3300.03

The 3300 level was tested as a support level. After the initial break, it tried to go back above

9:58-----------------18.48
10:04----------------20.02
10:10----------------23.56----------------3294.82
10:15----------------19.01----------------3299.37

After failing to hurdle the 3,300 level, the downtrend accelerated.

10:17----------------20.19
10:25----------------21.27
10:29----------------24.54
10:34----------------27.08
10:39----------------24.86
10:48----------------31.24
10:49----------------32.91
10:51----------------33.77
10:55----------------39.37
10:59----------------36.99
11:24----------------36.94
11:27----------------38.15
11:28----------------41.57
11:48----------------38.73
11:49----------------34.73
11:56----------------40.99
11:57----------------36.94
11:59----------------41.14
12:01----------------47.65----------------3270.73
Market Close.

Advancers 35
Decliners 68

Investors sold just before the Labor Day break as asian equity markets were down in the morning trade.


May 01, 2007

No Trading in the Philippine Stock Exchange.
The DJIA was down by 58.03 points to close at 13,062.91
PSEi previous close 3270.73



May 02, 2007

The DJIA rebounded and advanced by 73.23 points to close at 13,136.14. The local stock market also opened strong as the Labor Day rallies were generally peaceful.

PSEi previous close 3270.73 (April 30, 2007)

time -----------------up-----------------PSEi
9:31----------------3.24
9;32----------------4.39
9:33---------------13.79
9:34---------------15.70
9:35---------------22.18
9:36---------------25.81
9;39---------------26.02
9:40---------------29.59

The 3,300 level was immediately challenged within the first 10 minutes of trading.

9:41---------------32.98
9:43---------------33.62
9:46---------------34.78
9:47---------------36.63
10:02-------------37.43-------------------3308.46 (day's high)

Upon reaching the day's high within the first half hour, trading turned tentative.

10:13-------------30.49
10:14-------------28.87------------------3299.60

The 3,300 again failed to hold as a support level and the market gave up its gains as selling pressure again prevailed.

10:26-------------27.72
10:27-------------25.19
10:37-------------24.44
10:39-------------21.76
10:40------------20.10
10:42------------19.15
10:43------------16.47
10:47------------15.43
10:57------------12.78

Rallies were shortlived
10:59-----------17.75

Investors were quick on the draw to take any profits and added to the selling.
11:03-----------12.62
11:13-----------12.08
11:19-----------11.12
11:28-----------10.77
11:30-----------10.35
11:32------------8.52
11:35------------7.43
11:36------------5.81
11:37------------5.41
11:40------------4.46
11;42------------4.05
11:50------------0.19

The market ended flat.

11:59-----------4.58
12:01-----------1.26--------------------3271.99 (+0.04%)
Market Close.

Adavncers 52
Decliners 43

Value turnover PhP 3.994 bn
Cross transactions PhP 1.314 bn

Sectoral Indices
Industrial +1.35%
M-O +0.96%
Property +0.37%
Financial -0.49%
Holdings -0.49%
Services -0.19%