Daily Market Notes October 7, 2009

PSEi                 2,967.06         UP     82.60
value php                5,318,012,350.00

DOW    131.50 +1.37% 9,731.25
NASDAQ 35.42 +1.71% 2,103.57
S&P 500 14.26 +1.37% 1,054.72

A weaker dollar scenario fueled the rally for wall street, particularly the financials and mining sector.  Gold  futures touched a record $1,045 an ounce yesterday in New York amid increasing demand for a hedge against inflation and a weaker dollar.

In local equities, yesterday's RSI breakout and MACD crossover to buy was confirmed today with an exclamation point.  Value turnover at over 5B, net foreign buying by 600m, and a rather broad based rally.  Such move may put the index in a 400-500 point run from breakout point of 2900.

Once again, the rally was led by TEL's 100 peso breakout to 2665, worth 28 psei points and yielding a relentless 205m in nfb.  Other big cap leaders included: AC MBT MER ALI BDO PX SMPH.

Still managing to lose in the index counter were: SMC/B JGS AEV.

Ni continued to gain to 4.8, while WEB continued to sink to near 12.5 at the start of trading but sellers were chomped up all the way to 15 by the close.  Other overall gainers include BHI .105, plus the banking stocks MBT 36, BPI 46, CHIB 372.50, MBT 41.50, FPH 40, MER 181.

Big nfb in the following stocks: BPI 58M, MBT 159M, AP 32M, EDC 28M, FGEN 36M, FPH 19M, MER 11M, MWC 24M, JFC 16M, AC 28M (swings back), ALI 3M (small but swings back), meg 92m, fli 51m, px 260m.

NFS were from: PNB 31M, URC 22M, AGI 67M, BPC 23M, MPI (one of the best gainers at 3.55 but with…)181M, SM 111M, SMPH 22M, VLL 31M,

TOTAL FOREIGN BUYING   : P  1,744,604,031.52
TOTAL FOREIGN SELLING  : P  1,192,867,957.42

NO. OF ADVANCES:              87      
NO. OF DECLINES:              20      
NO. OF UNCHANGED:             47
NO. OF TRADED ISSUES:        154
NO. OF TRADES:            12,716

LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos

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