News / Philippine Stock Market

PSEi Outlook For July 14 - 18, 2008 By Bonner Dytoc July 13, 2008

Have we found the bottom?  I think it’s too early to tell but it’s possible that we found temporary relief.

After the index raced to a new 2 year low the other week, PSEi has bounced off that level and has stayed above 2400.  In fact, the index gapped up after two consecutive days of trading off the low.  The question now is will 2400 hold?

Since all indications still point to the index going down, we would still advise you to act cautiously and sell on rallies if you get the chance.  It is not yet time to be bullish.