another day in the green but with low trade volume

Today's close (May 20, 2008) was in the green with the PSEi at 2896.15, +18.69 from yesterday. Value turnover was unexciting at Php2.4B.

Surprise for those expecting correction
While 18.69 points is not a large increase, it comes as a surprise to me. This week's outlook was for more correction. With inflation taking the limelight, that prediction seemed sound. On top of that, we just saw a rally of about eight days. What comes up, must come down.

Surprise, surprise... Yesterday's drop of only 2.49 points to 2,877.46 was also rather pleasant as it was quite negligible for the composite index at only -.1%

Less worrisome numbers
With the market making gains, even though rather weak for my taste, I'm getting more positive about where this market may be going. My gut feel is that it's getting ready to push up hard and fast.

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