The day's market - January 03, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary

Index Value: 13,043.96
Trade Time: January 2, 2008
Change: Down 220.86 (-1.67%)
Prev Close: 13,264.82
Open: 13,261.82
Day's Range: 12,991.37 - 13,279.54

The Dow Jones Industrial Average (DJIA) is currently testing the 13,000 support level once again. It has declined more than 500 points already in the past four trading days since December 26, 2007.

New York Metal & Oil report.
Gold + $23.00 - $855.70 / $ 856.20
US Oil + $3.62 - $ 99.62

Gold prise are now at its highest levels since the 1980s.
Oil prices touched the $100 a barrel level.

With WallStreet dropping another 220 points after the more than a hundred point decline previously, the local equities market follows suit.

PSEi previous close - 3617.29 (January 02, 2008)

time------------down----------PSEi
9:31------------20.31--------3596.98

The 3600 level is immediately broken. There is a chart gap opened at the 3616.91 (yesterday's low) to 3596.98 (today's open and high) levels with today's immediate drop.

Advancers 7 Decliners 18

9:32------------23.63
9:33------------32.62

Advancers 10 Decliners 22.
The Mining and Oil (M-O) sector tries to go against the downtrend on back of firmer Gold and Oil prices. It is up by 1.17% at this point.

9:34------------42.50
9:35------------52.59
9:36------------55.19
9:37------------59.45
9:38------------65.96--------3551.33

The PSEi tries to hold at the 3550 level.
PhP 41.310 vs US$ 1.00
Asian markets are down.

9:40------------63.16
9:41------------59.14
9:42------------60.49
9:44------------66.39--------3550.99

9:47------------68.11
9:48------------70.39-------3546.90

9:52------------64.77
9:53------------62.04
9:54------------61.64
9:56------------60.44-------3556.85

9:59------------63.31
10:02-----------67.86
10:03-----------69.52-------3547.77

The 3550 level fails to hold and the market falls to lower levels.

10:06-----------78.61-------3538.68

PhP 41.304 vs US$ 1.00
The chart gap at the 3543-3552 levels left open last December 21/26 is now covered.

10:07-----------81.48
10:08-----------82.08
10:09-----------82.87
10:11-----------84.99
10:12-----------85.79
10:13-----------87.27-------3530.02

Adavncers 20 Decliners 55.
Value turnover is still at PhP 388 mn.
The PSEi declines further.

10:14-----------89.61
10:16-----------94.31
10:18-----------95.56
10:19-----------96.12
10:22-----------96.63--------3520.66
10:23----------100.77--------3516.52

The market has now dropped by a hundred points in only the first hour of trading. A rebound was expected.

10:24-----------96.63
10:25-----------99.11
10:26-----------96.87
10:27-----------98.55
10:28-----------99.38
10:29-----------97.63
10:33-----------97.45
10:36-----------93.65--------3523.50
10:39----------100.25--------3517.04

Advancers 20 Decliners 80
PhP 41.260 vs US$ 1.00
Value turnover was at PhP 795mn

10:41----------100.70
10:42----------101.10
10:43----------103.33
10:46----------103.63
10:48----------102.15
10:49----------104.15
10:53----------105.06
10:55----------106.34
10:57----------107.21
10:59----------107.50--------3509.79
11:01-----------99.75--------3517.74
11:02----------100.64

Advancers 16 Decliners 82
Value turnover at PhP 1.087 bn
With the market still down by a hundred points; and the number of decliners still increasing, an intraday bounce now seemed to be more unlikely.

11:05----------101.38
11:06----------107.08--------3510.21
11:10----------105.22

PhP 41.255 vs US$ 1.00

11:11----------107.95
11:17----------108.48
11:21----------112.77

Advancers 18 Decliners 94
Value turnover PhP 1.30 bn

11:24----------114.26
11:27----------113.81
11:28----------116.68-------3500.61

The 3500 level is now being tested. The PSEi hovers around this level until the end of the trading session.

11:30----------115.64
11:31----------112.92
11:34----------115.64
11:35----------116.68-------3500.61

11:37----------114.78

PhP 41.253 vs US$ 1.00
Asian markets were still down.

11:38----------110.36
11:40----------109.65
11:41----------107.70--------3509.59

11:42----------113.40
11:45----------114.06
11:46----------113.40
11:48----------114.44
11:50----------119.50--------3497.79 (the day's low)

Advancers 13 Decliners 99
There is still a chart gap at the 3491-3497 levels left open last December 20-21, 2007.

11:51----------117.22
11:54----------118.46
11:55----------115.28
11:57----------114.85
11:58----------119.41
11:59----------115.38
12:01----------115.91--------3501.38 (-3.20%)
Market Close.

Advancers 16
Decliners 101

Value turnover: PhP 2.425 bn
Cross transactions: PhP 708 mn

Sectoral Indices.
Holdings -4.18%
Industrial -3.17%
Services -2.93%
Property -2.71%
Financial -1.99%
M-O -0.76%

The Day's Top Gainers:
CEU: PhP 6.40; +16.36%
PHES: PhP 0.37; +12.12%
ABA: PhP 0.011; +10.00%

The Day's Biggest Decliners:
PNC: PhP 4.10; -29.31%
AAA: PhP 0.32; -23.81%
LSC: PhP 1.40; -16.67%