The day's market - January 15, 2008

DOW JONES INDUSTRIAL AVERAGE(DJIA)summary
Index Value: 12,778.15
Trade Time: Jan 14
Change: Up 171.85 (+1.36%)
Prev Close: 12,606.30
Open: 12,613.78
Day's Range: 12613.70 - 12794.57

Gold goes above the $900 an ounce level.
With WallStreet rebounding strongly, the local equities market opened higher as sentiment was positive at the onset.

PSEi previous close - 3482.28 (January 14, 2008)

time-----------change----------PSEi
9:31-----------up 11.84--------3494.12

Advancers 23 Decliners 5

9:32------------up 8.21
9:33---------------8.89
9:34---------------5.19
9:35---------------6.76
9:36---------------7.40

PhP 40.528 vs US$ 1.00

9:38-------------up 8.88
9:41----------------8.29
9:42---------------12.71
9:44---------------15.94--------3498.22
9:45---------------13.22
9:46---------------14.23
9:47---------------16.91--------3499.19 (day's high)

The 3500 level was tested.

9:49------------up 14.05
9:50---------------12.79
9:51----------------6.83
9:52----------------5.04
9:53----------------4.79--------3487.07

9:55----------------7.11
9:56----------------9.08
9:58----------------8.08
10:00---------------4.63

After a half hour of trading and the market failing to sustain its advance; the positive sentiment and momentum built up from the rise in WallStreet has dissipated.

10:01------------up 4.18
10:03---------------2.92
10:03---------------0.99---------3483.27

Advancers 42 Decliners 24

10:04------------up 0.69
10:06----------down 2.79---------3479.49

The Philippine Stock Exchange Index (PSEi) moves into negative territory. As the 3480 level was also broken, the market heads even lower.

10:08----------down 3.57

Asian markets were up at this point.
Advancers 42 decliners 28
PhP 40.523 vs US$ 1.00

10:10--------down 3.94
10:11---------------4.53
10:12---------------7.64
10:14---------------9.19
10:15---------------9.50--------3472.78
10:18---------------7.79
10:20---------------9.27
10:23--------------10.42--------3471.86

10:26---------------9.86
10:29---------------8.01--------3474.27
10:33---------------9.72
10:34--------------10.83
10:36--------------12.38
10:37--------------13.94
10:39--------------14.64
10:40--------------17.09---------3465.19

10:41--------------15.61

Market has totally reversed. The number of losers now outnumbered the gainers.
Advancers 40 Decliners 43

10:45-------down 17.50
10:46--------------19.05
10:48--------------20.65
10:53--------------23.92---------3458.36

10:54--------------22.25
10:59--------------18.39---------3463.89

11:00--------------24.09
11:02--------------24.97
11:06--------------26.09
11:08--------------26.77
11:13--------------27.85---------3454.43

11:14--------------24.61
11:16--------------24.09
11:17--------------25.87
11:21--------------26.41
11:22--------------24.92
11:25--------------26.41
11:26--------------27.00
11:28--------------27.38
11:37--------------28.53
11:39--------------29.38
11:46--------------31.39
11:48--------------33.01---------3449.27

The 3450 level is now tested.

11:49-------down 30.29
11:50--------------30.61
11:52--------------32.87
11:53--------------28.44
11:55--------------27.76
11:57--------------30.46
11:59--------------35.46----------3446.82 (day's low)
12:01--------------34.99----------3447.29 (1.00%)
Market Close.

Advancers 38
Decliners 75

The market closed near its low and momentum may carry the market lower to close the chart gap at 3416-3435 left open last January 9 -10, 2008.

If the PSEi manages to stay and hold above the 3450 level, the initial target resistance is at the 3480-3500 levels.

Value turnover: phP 3.385 bn
Cross transactions: PhP 1.469 bn

Sectoral indices.
M-O +2.28%
Holdings -0.30%
Services -0.84%
Property -1.36%
Financial -1.54%
Industrial -1.62%

The Day's Top Gainers:
CEU: PhP 10.00; +40.85%
BCB: PhP 27.00; +18.68%
BRN: PhP 2.65; +15.22%

The Day's Biggest Decliners:
CAT: PhP 1.32: -36.54%
APR: PhP 2.30; -17.86%
MFIN: PhP 3.00; -11.76%

The Biggest Index Issue Decliners:
FPH: -5.38%
MER: -4.49%
FGEN: -3.70%