The day's market - November 13, 2007

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary
Index Value: 12,987.55
Trade Time: Nov 12
Change: Down 55.19 (0.42%)
Prev Close: 13,042.74
Open: 13,039.16
Day's Range: 12981.04 - 13162.64

NY Metal and Oil Report:
Gold - down by $29.10 to close at $803.30 an ounce
Oil - down by $1.75 to close at $94.62 a barrel

With the DJIA closing below the 13000 level (and near its low) and Gold prices diving steeply; investor confidence is shaken again. The local equities market drops upon the opening bell.

PSEi previous close - 3618.37 (November 12, 2007)

time-----------down-------------PSEi
9:31----------22.54------------3595.83

Advancers 3 Decliners 31
M-O -3.70%
Holdings -0.98%
Property -0.84%
Financial -0.53%
Industrial -0.09%
Services 0.0%

9:32---------27.45
9:33---------33.09
9:34---------38.66
9:35---------42.25
9:36---------43.35
9:37---------45.80
9:39---------47.13
9:40---------49.50
9:42---------55.61
9:44---------55.81
9:46---------56.77-------------3561.60

The 3560 initial support was tested.

9:46---------59.26-------------3559.11

Advancers 3 Decliners 78
M-O -6.37%
Property -2.12%
Financial -1.65%
Holdings -1.61%
Industrial -1.12%
Services -0.85%
The support fell through and the drop accelerates.

9:50---------60.64
9:51---------66.86
9:52---------71.25
9:53---------76.20

9:55---------71.87
9:57---------73.15

PLDT was at PhP 2925 from PhP 2960 previously.

9:58---------74.64
9:59---------75.03
9:59---------76.63
10:00--------77.96
10:01--------78.93------------3639.44 (the day's low).

The market stops its decline and slowly regains ground. The gap at the 3491-3521 remains open.

10:05--------78.88
10:09--------70.98
10:12--------69.30
10:14--------67.07
10:15--------62.40
10:17--------60.91

PLDT was goes up to PhP 2950 and pulls up the market. The PSEi goes above the 3560 level. The day's sentiment has reversed.

10:18--------54.23-----------3564.14
10:19--------51.21
10:21--------50.40
10:23--------49.07
10:25--------45.74
10:26--------43.16
10:27--------42.99
10:31--------41.97
10:32--------38.02
10:34--------37.03
10:35--------36.83
10:36--------35.73

Advancers 12 Decliners 75.
PLDT at PhP 2960.

10:39--------37.77
10:43--------35.64
10:46--------32.39

Advancers 18 Decliners 72

10:47--------30.53
10:48--------27.77

PLDT at PhP 2970.
M-O -4.69%
Holdings -1.38%
Property -0.96%
Industrial -0.78%
Financial -0.64%
Servies -0.14%

10:51--------27.54
10:53--------26.58

Advancers 23 Decliners 68

10:59--------23.99
11:02--------21.93
11:04--------19.65
11:05--------18.93

Advancers 30 Decliners 66

11:10--------17.64------------3600.73

The PSEi reaches the 3600 level again. The market consolidates near this level for the rest of the session.

11:14--------16.31

Advancers 35 decliners 62

11:22--------12.53-----------3605.84

Advancers 37 Decliners 63. PLDT at this point traded at PhP 3000.
The Peso was at PhP 43.140 vs the $US.

11:24--------11.18
11:27--------10.50
11:29--------10.35
11:30---------7.02-----------3611.35 (the day's high)

11:31--------11.83
11:33--------12.45
11:34--------13.66
11:37--------13.82
11:38--------14.32
11:39--------16.26
11:40--------13.04
11:41--------11.97

Advancers 42 Decliners 68

11:44--------14.17
11:45--------19.07
11:48--------20.02
11:50--------21.57
11:52--------22.43
11:53--------24.40
11:54--------25.52------------3592.85
11:58--------23.35
11:59--------24.24
12:01--------18.88------------3599.49 (-0.52%)
Market Close.

Advancers 41
Decliners 58

Value turnover: PhP 5.612 bn
Cross transactions: PhP 1.648 bn
Block Sales: PhP 274 mn

The market was able to show its resiliency by limiting its losses for the day. This minimizes the tendency of widespread panic selling during a declining market.
But increased volatility and huge swings also brings in uncertainty for investors. Bargain hunting which gives support to the market when it is declining; is quick to turn to profit taking which then caps any rise in the market.

Sectoral Indices
Services +0.81%
Financial -0.35%
Industrial -0.64%
Holdings -1.32%
Property -1.60%
M-O -4.23%

The Day's Top Gainers:
PEP: PhP 1.04; +30.00%
LCB: PhP 0.46; +12.20%
PWR: PhP 0.33; +10.00%
MED: PhP 0.60; +9.09%

The Day's Biggest Decliners:
IMP: PhP 15.00; -14.29%
PX: PhP 9.60; -10.70%
VITA: PhP -10.26%
DHC: PhP -10.00%