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.

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