unimpressive upward movement

The PSEi rose again today (May 9, 2007) by only 18.80 points with total trade value of about Php3.5B. I find this unimpressive and disappointing. Without a strong rally, I fear that this market will spook investors even more.

Comments

Post a Comment

Popular posts from this blog

where are the bulls?

The market may be bad, but I slept like a baby last night. I woke up every hour and cried. The PSEi went up on May 7, 2008 by 11.73 points. Value turnover was at a respectable level of Php4B. Looks good, but not good enough, I think. The fresh wind of hope from the U.S. economy didn't make it here until today as shown by the Philippine Stock Exchange Index. The rice shortage or at least the perception of a shortage along with inflation going through the roof are factors that weigh down on local investor sentiment. Corporate earnings are largely within expectation but maybe market is already priced into better corporate performance since it had little effect on our stock prices.
Read more

when will it end?

The index may as well be a straight line. The trend has been sideways for so long, it's getting boring. I guess we can just be glad we're not seeing the market values plunge like it is for most of the developed world.
Read more

breaking the index's fall

"Be greedy when everyone is fearful, be fearful when everyone is greedy?" -Warren Buffet When will our market's main index break its medium term downtrend and find that foothold? With such bright and sunny skies over our local private sector, why are we so fearul? News...what news? All the good corporate news last week was not sufficient to have any significant upward impact on our market. On the contrary, we saw incredibly thin trading last week for successive trade days. The gloom and doom that has taken over global markets seems to scream louder than our local news of continuously increasing corporate profits. Technical Opinions Tsupitero says the level to watch out for is 3170. Any break below this points to only one of two things, a retest of the previous low of 2950 or worse, the establishment of a newer low. Other technicals are telling investors to watch for a successful retest of the last support level, which I'm assuming to be 3170. Support retest seems to b...
Read more