Archive for December, 2008
The index went south breaking its 1865 support and closing near the day’s low at 1840. The market opened on Monday at its highest intraday level and from 1893, shares were sold down to as low as 1831 before inching back a little on closing. Volume remained light as expected and only 485 million shares [...]
It seems that the DJIA is just itching to break out of its consolidation very soon. It’s most likely that we will see this some time January rather than during the holidays.
It seems that the direction the index is taking for now is still quite confusing. These days, the DJIA has a tendency to reverse [...]
Tracking the huge gains from Wall Street the other night, the PSEi was strongly up on early trading but only managed to close 15 points up at 1904. All sub-indices were also higher with 53 advancers, 29 decliners, and 49 unchanged issues. Traded volume was at 815 million shares value at P2.17 billion. TEL was [...]
The market closed 19 points higher from its previous close Monday following some gains in Wall Street last Friday. It opened at the low of 1904, went as high as 1932, and closed weaker than expected at 1913. Foreigners were net buyers while advancers were heavier than decliners with value traded up to more than [...]
Recapping the highlights of the previous week:
Automakers initially got help via a $15B bailout bill from Congress until the Senate shot it down. Just like their status in the industry, crash and burn.
AIG (NYSE: AIG) faces $10B from losses on bad [...]
Like clockwork, the PSEi had retested the resistance of the triangle and seems poised to continue the consolidation.
It seems that more consolidation is in store for the market before it will be able to decide which direction it wants to take. For everyone’s sake, hopefully it goes up after the consolidation is over.
The MACD is [...]
The market ended lower Thursday following a high open to close at 1933, down 5.70 points from previous close. Sub-indexes were mixed as most of the service and mining shares were down for the day. Volume was high at around 2 billion shares, and advancers outnumbered decliners despite a negative day for our main index. [...]
1. Chalco (2600 HK) – First day of breakout and strong volume
Is it really easy to buy and hold? For those who have listened and executed my published recommendation last Oct 31, 2008 where I specifically told readers to expect a 100% return trade, congratulations. You are now up 50% for about a month and [...]
I have noted that the mother of bear market rallies is what we are experiencing right now and the patient buy-and-hold investor are up 100% or more already if they bought a couple of weeks or a month ago. Traders are earning 15-20% gains in a day. How do we participate? The strategy is always [...]
The PSEi inched up a bit posting a 20 point gain closing at 1908. Less than 400 million shares were traded, diminishing the gains of this market rally. While advancers finally outnumbered decliners, most were unchanged and our market remained the weakest gainer among major indices in our region. Investors remained on the side lines [...]