The days' market - October 26, 2007

The Dow Jones Industrial Average (DJIA) closed lower by only 3.33 points (-0.02%) and ended at 13671.92. Trading in WallStreet is still volatile as the DJIA moved in a 200 point range intraday.
Prev Close: 13,675.25
Open: 13,677.85
Day's Range: 13547.63 - 13741.26

Gold was up by $5.70 and was at $767.20 an ounce. Oil prices were near the $90 a barrel level.

The local equities market once again moved within a narrow twenty point range.

PSEi previous close - 3769.31 (October 25, 2007)

time-----------up-----------PSEi
9:31-----------1.53---------3769.31
9:32-----------6.70
9:33-----------9.94
9:34----------11.36
9:36-----------8.48
9:38----------11.51
9:40----------12.22
9:42----------15.44---------3784.75

9:47-----------5.25
9:48-----------7.41
9:51----------12.00
9:52----------15.48
9:53----------16.16
9:58----------13.64
10:10---------16.96
10:18---------16.06
10:20---------16.45
10:22---------17.51
10:23---------18.61
10:28---------19.46----------3787.24 (the day's high)

While the PSEi was lethargic albeit with a positive bias; select second and thirdliner stocks were active as punters preferred mining issues and companies involved in oil exploration activities.

10:36---------17.13
10:39---------15.12
10:48---------12.93
10:50----------8.55
10:52---------13.19
10:56---------11.08
11:02---------10.96
11:05---------14.49
11:17----------7.11
11:28---------13.60
11:36----------9.87
11:38----------9.47
11:41----------8.76
11:45----------8.51
11:50---------14.36
11:52---------10.76
11:55---------11.33
11:58---------16.86
11:59---------19.20-----------3786.98
12:01---------17.10-----------3784.88 (+0.45%)
Market Close.

Advancers 69
Decliners 44

Value turnover: PhP 4.567 bn
Cross transactions: PhP 1.750 bn

It continues to be a good sign that the market is keeping a positive bias despite the long lull in trading next week. The Philippine Stock Exchange (PSE) will be closed on Monday.
Investors and traders were kept glued to the market because of the brisk trading in the Oil and Mining Stocks which dominated the Gainers.
Should everything go well over the long weekend, trading on Tueday and Wednesday next week may be a good time to pick out stocks for the year end rally. While prices may not have gone to bargain levels that we would have liked to buy in, the resiliency of the market has shown issues which have the strength to go up further later this year.
Earnings reports, stock specific developments, and the action of the US Federal Reserve on the US interest rates (and WallStreet's action and reaction); will be worth keeping a close tab on.

Sectoral Indices.
M-O +3.82%
Holdings +1.87%
Financial +0.20%
Services +0.02%
Holdings -0.08%
Property -0.41%

The Day's Top Gainers:
TA: PhP 2.20; +42.86%
SOC: PhP 1.80; +23.29%
PERC: PhP 13.25; +20.45%
DIZ: PhP 11.00; +18.28%
SPM: PhP 1.50; +17.19%

The Day's Biggest Decliners:
ARA: PhP 0.65; -8.45%
PHES: PhP 0.33; -8.33%
MJC: PhP 4.50; -8.16%
MHC: PhP 0.58; -7.94%