The day's market - November 22, 2007

Market Comments on yesterday's trade.
BusinessWorld - November 22,2007 (The same comment appears in The Philippine Star)

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary
Index Value: 12,799.04
Trade Time: Nov 21
Change: Down 211.10 (1.62%)
Prev Close: 13,010.14
Open: 13,006.65
Day's Range: 12786.52 - 13007.71

Gold up $6.10 to close at $799.70/$800.20
US Oil $98.04

With another steep drop in WallStreet (and well below the 13000 level at that), the local equities market immediately drops below the 3500 support level.

PSEi previous close - 3485.12 (November 21,2007)

time-------------down----------PSEi
9:31------------25.37---------3485.12

Advancer 1 Decliners 38

9:32----------26.97
9:33----------29.87
9:35----------38.02
9:36----------41.06

Advancers 2 Decliners 58
PhP 43.351 vs US$ 1.00

9:37----------46.74
9:38----------51.65

Advancers 3 Decliners 60

Though the drop of the PSEi seems to have tapered off, the number of decliners still increases. The market moves sideways for around the next two hours.

9:40---------52.70

Advancers 3 Decliners 65

9:43---------48.21
9:44---------54.13
9:45---------48.48
9:46---------51.02

Advancers 3 Decliners 77

9:48--------52.06
9:49--------54.32
9:50--------54.59------------3455.90 (day's low)

Advancers 2 Decliners 81

9:53-------49.44

Advancers 2 Decliners 84

9:56-------49.51
10:03------48.87
10:08------46.89

Advancers 6 Decliners 88

10:10------47.43------------3463.73

Advancers 6 Decliners 89
PhP 43.322 vs US$ 1.00

10:14------43.26

Advancers 6 Decliners 90

10:24------49.37
10:27------50.92
10:28------51.60
10:31------47.10
10:33------46.06
10:41------49.92
10:55------48.70

Advancers 19 Decliners 93

10:58------51.81
10:59------53.53
11:07------50.88
11:09------48.48
11:16------44.11
11:19------46.83
11:23------41.86
11:24------45.85
11:25------47.51
11:27------42.72
11:36------42.41

The market tries to limit its losses in the last 20 minutes of trading.

11:39-----37.37
11:42-----35.71
11:50-----40.26
11:55-----35.50
11:56-----36.41
11:59-----32.91
12:01-----31.55-------------3478.94 (-0.90%)
Market Close.

Advancers 35
Decliners 72

The immediate support is seen at the 200 day moving average (m.a.) at 3437.
Today's drop in the Philippine Stock Exchange Index (PSEi) opened a chart gap at the 3505-3485 level.

Value turnover: PhP 4.292 bn
Cross transactions: PhP 1.166 bn

Sectoral Indices.
Industrial +0.28%
Financial -0.54%
M-O -0.78%
Services -0.95%
Property -1.28%
Holdings -1.62%

The Day's Top Gainers:
LIHC: PhP 2.12; +49.30%
TDY: PhP 6.40; +39.13%
CSB: PhP 23.00; +15.00%
EDC: PhP 6.90; +9.52%

The Day's Biggest Decliners:
GO: PhP 0.20; -25.93%
APR: PhP 3.00; -18.92%
SGI: PhP 0.61; -12.86%
TUNA: PhP 1.50; -9.64%