PSEi Outlook for Oct. 27 – 31, 2008

Posted by Bonner Dytoc
Sunday, October 26, 2008 9:04

Things have taken a turn for the worse.  We already broke through the 2000 psychological support level and the PSEi still hasn’t stopped dropping like a brick.

The DJIA has been trying to revive its own market but to no avail and it has dragged down everyone along with it, including us.  The MACD of the index has shown us that it has been continuing its descent on a steady momentum.

The reversal sign that we’ve been looking for all this time still has not manifested itself so we should expect the PSEi to continue dropping until it finds a base.

The best thing for most of us to do right now is to stay liquid and avoid buying into anything just because it looks cheap.  It’ll get cheaper sooner than you think.

Recommendation: Stay liquid.

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