Posts filed under ‘PIP’
Was expecting a big move last week, none happened. analysis wrong. consolation is a its was neutral.now i’m picturing it again amidst odds favoring sellers of bid/ask volume (as of this posting). caveat.
Doing 2.30 as of posting time with high at 2.32
Need to close 2.26 or higher but a day or 2 of small change is a better preparation for next week (that is if PIP will try to re-test previous high).
Based on Franklin Templeton Fund websites, they disclosed that as of Dec 31, 2009, they have around 146 million shares of Pepsi – Cola Products Philippines (PSE:PIP). This is a galaxy – like increased of 2800% from their March 31, 2009 holdings of only 5M shares. From the said 146 million shares, I’ve seen 4 funds of Templeton that have holdings of these shares. I don’t know if there are more funds that have Pepsi within the Templeton Fund.
Below are broker’s activity (3 months) of Pepsi. Noted big buyings and cross sales from ATR, and cross sales from UBS (underwriter of Pepsi’s IPO). It is my thinking, base on broker’s analysis that ATR is the one who buys shares for Templeton. As for my house, our activity is almost the same volume on buying and selling. My 2 cents only. Caveat.
As of 11:35 am Feb 10, 2010 trading time. ATR bought 225k shares, while UBS is a seller with 303k shares.
sorry guys, been sooooo busy attending the farm.
for days now, i observed foreign buying on Pepsi (PSE:PIP), most notably, foreign brokers CLSA and Macquarie. Technicals of Pepsi is still intact with target at 2.70 and then 3 to 3.10. I love seeing CLSA and Mac side by side doing their thing. A dejavu for me with they were buying up MER and PX. Caveat.
Recommended to house and clients that PIP’s RSI is nearing overbought level. Resistance at 2.18, and a possible move is to take some profits on strength. House got lots of PIP accumulated way before then and even bought up yesterday at 1.86 and 2.10-2.12 yesterday. Strategy is to limit players, maintain a status quo and do a time correction for PIP. This will mellow down the RSI. Create a base on a comfortable level where we can buyback again. Perfect picture then see our target of 2.70 materialized this year. Caveat.
My “dream” target still stands at 2.70/share, but there will be ups and downs, ofcourse.
Personal disclosure: Sold some for my clients as 1.70 target achieved.