Archive for January, 2010

Market Action

(Note: Updated within the day)
9:44am PAX opened at 2.50, gapping 4 cents from its yesterday’s close at 2.46

9:48am After opening at 68, the stock lost its grip as investors find it to pricey to push IMI to its 5th consecutive limit up of 50% gain for the day. Currently trading to 40 a piece, down 5.50 from yesterday.

10:00am Broker 209 started doing cross sales at SMDC, totalling to 1M shares at 2.50 (4 blocks of 250k shares).

10:30am APC (+0.03, +9.68%) in the attached disclosure dated January 26, 2010, stated among others that: We would like to report that the Board of Directors of APC Group, Inc. (“Company”) in a meeting held today, January 26, 2010, approved the quasi-reorganization of the Company by way of reducing the Company’s par value per share. The reduction in par value will initially result in the reduction of the Company’s negative retained earnings (deficit) approximately by half. The new par value of the Company’s shares and the exact amount of the resulting reduction in deficit will be decided after further study and consideration.

10:40am The Philippine Stock Echange Index (PSEi) have been undecided all day, keeping a narrow range at the 2,900 level.Previous support at 2,950 is now a resistance. Heavy weight Ayala Corp (PSE:AC, +2.50, +0.86%) is adding support to the market.

11:00am SMDC alert. Total 3m shares crossed by broker 209.

11:06amTechnical watch. MRC (+0.01, +1.41%) is within a triangle make or break.resistance at 0.79 & 0.88 (current high) and support pegs at 0.66 & 0.59

11:26am Still Consolidating. Pepsi Philippines (PSE:PIP) remains unchanged at 2.30/share. Buyer is still ATR. I noticed they’re been on defensive buying mode. The stock have shown to be resilient and stayed on the 2.30 level despite the index selldown previously. A break at 2.55 will open gates at 3.50, Pepsi’s IPO price.

11:50am PSEi (+38 pts, +1.31%) going pass the 2,950 initial resistance. The divergence as previously pointed out yesterday proved to be a signal that the index have enough of this emotional tantrums. Psychological resistance points to the 3,000 level. Expect confidence to build up as 2,950 was taken.

11:58amConfirmed. The Famous Father of All Funds, Mark Mobius of Templeton Asset was in Cebu last week. Business or Pleasure? I’m not guessing.


January 28, 2010 at 1:46 am 2 comments

SM Development Corp (PSE: SMDC)

Nice run with broker 209 heavy buying since 3.90. Now at 4.75 a fresh 52-wk high, broker 209 is still pumping it up. Watch for the cross sale (if there is one), as I believe that will signal that their buying is done. Caveat

January 27, 2010 at 3:43 am Leave a comment

Psei & AC

As of 11:36am, Ayala Corp (PSE: AC) is holding well at Php285-Php287.50 per share. For me, this is a relief and I think the market is suggesting that it had enough of emotional setbacks. Psei is currently down 39 pts at 2,919, already below the 2,950 defense. Bottom fishing is for traders only. Taking back 2,950 again will send confidence gradually back to the market again. Caveat

January 27, 2010 at 3:39 am Leave a comment

Pax Update Jan 27, 2010


Reco: Buy at current price (right now as of 11:03am, 2.42 is seller price) with stop if 2.34 broken. Caveat

January 27, 2010 at 3:04 am Leave a comment

Philippine Stock Exchange Index (Daily Chart)

January 19, 2010 at 2:15 am 5 comments

US Dollar Index

January 14, 2010 at 2:26 am Leave a comment

Ayala Corp (PSE: AC)

January 14, 2010 at 2:09 am Leave a comment

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