Archive for May, 2010
The Philippine Stock Exchange Index (PSEi) was able to recover the losses that the index suffered the previous week. From a high of 3342, the index has fallen to as low as 3093, which was quite bad as we were looking at 3145 as a critical support. The good news is that the index looked [...]
The last trading day of the Philippine Stock Exchange Index (PSEi) was not necessarily bullish, even if it closed at the high, regaining half of what it lost initially. The index was down by as much as nearly 66 points, yet the PSEi was able to recover and closed at 3179.36, which is still 34 [...]
Following the one-day debacle of the DJIA, the Philippine Stock Exchange Index (PSEi) also opened weak on May 7 to regain most of the loss. In short, it was still a down day yet it had bullish implications. What we were expecting from this day was a one-day reversal that will push the index back [...]
The Philippine Stock Exchange Index (PSEi) looks very similar to the DJIA as it also recently stopped going higher and broke the support line at 3215 and ended 113 points lower on May 5. When that happened, the index formed the bearish formation called the double top. We were looking at 3145 to serve as [...]
For the past two weeks, we have been bullish with the mining sector and with good reason. The first reason is that gold has still been continuing to go to higher levels and we are still expecting this precious metal to land somewhere between $1200 – $1300/oz. soon. We see two more reasons to be [...]
What should we expect from the week before elections? On one hand, we can expect a correction for two reasons: the 158 pt. drop of DJIA on Friday and the bearish outside day experienced by the PSEi.
The bearish sentiment coming from the US is understandable as more often than not, whatever happens there spills over [...]