The day's market - February 07, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary
Index Value: 12,200.10
Trade Time: February 06
Change: Down 65.03 (-0.53%)
Prev Close: 12,265.13
Open: 12,257.25
Day's Range: 12178.15 - 12390.32

The DJIA was up more than 120 points at one point but declined in the latter part of its trading session to close near its low once again.
The continued weakness in WallStreet dampened the Chinese New Year's celebration in the Philippine Stock Exchange (PSE). Investors remained cautious.

PSEi previous close - 3228.84 (February 06, 2008)

time------------down------------PSEi
9:31-----------4.37------------3224.47

Advancers 7 Decliners 6

9:33-----------4.60
9:36-----------2.89
9:37-----------5.25
9:38-----------8.06------------3220.78

After a listless and seemingly directionless opening, the market continued to drift sideways near the 3220 level.

9:39-----------6.29

Advancers 13 Decliners 18

9:41-----------5.84
9:46-----------6.75

Advancers PhP 40.769

9:51-----------7.79
9:56-----------8.35------------3220.49
10:01----------6.51
10:08----------3.69
10:16----------6.80------------3222.04

Advancers 43 Decliners 21
Some of the second- and third-liner stocks are briskly traded at this point.

10:23----------7.99
10:31----------9.63------------3219.21

PhP 40.776 vs US$ 1.00

10:36----------9.40
10:38----------5.26
10:46----------5.66

PhP 40.774 vs US$ 1.00

The PSEi moves in a tight range in the next 45 minutes.

10:49----------6.06
10:54----------6.73
10:55----------5.39
11:04----------4.16
11:10----------4.38
11:16----------4.97
11:21----------7.41
11:26----------6.48

The 3220 level was tested and the decline nearly accelerates.

11:30---------11.68------------3217.16

Advancers 48 Decliners 40

11:34---------13.03
11:38---------13.60
11:39---------14.28
11:43---------14.33
11:47---------15.66
11:48---------17.68
11:50---------18.31------------3210.53 (day's low)

The drop was arrested and the market was able to regain some ground in the final minutes of trading.

11:51----------15.20
11:52----------13.99
11:55----------13.06
11:56----------12.02
11:57----------10.82
11:58----------12.61
11:59-----------6.54
12:01-----------5.64-----------3223.20 (-0.17%)
Market Close.

Advancers 53
Decliners 41

Value turnover: PhP 1.228 bn
Cross transactions: PhP 538 mn

The local equities market was able to hold at the 3200 level and somehow limit its losses in the past three trading day's wherein the DJIA has fallen more than 540 points already.
Value turnover was thin today as investors chose to remain cautious on the sidelines.
The smaller cap issues are getting more active and may perk up investor interest.
The immediate upside target in a rebound is its 10 day moving average (m.a.)which is now at the 3254 level.

Property +0.56%
Holdings +0.13%
M-O -0.06%
Financial -0.16%
Industrial -0.41%
Services -0.45%

The Day's Top Gainers:
BKD: PhP 1.38; +21.05%
EIBB: PhP 0.44; +18.92%
SINO: PhP 0.32; +18.52%

The Day's Biggest Decliners:
PNC: PhP 3.60; -30.77%
CEI: PhP 0.0625; -10.71%
AJO: PhP 0.80; -8.57%