Longneck’s UCC’s (Useful Chit-Chats) Dec 3 ’09

Today’s boring market action was even doused with more cold water by a sliding PX, and an overworked PSEi computer system which halted the market by over 30minutes.

PX’s P1.75 slide translated to 15 lost PSEi points, coupled with corrections in MBT/ALI/AC which compounded for another 10pts, and voila!!!! We have a 29pt down day, a day where most of our Asian peers are enjoying at least 1% gains.

The slide below 3,100 to me is no cause for concern. We are still on track to test recently established highs (IMHO). Today’s action shifted to the Lopezes as FPH and BPC were both active and higher. EDC took a breather today, but still looks to be in trending phase, so long as P4.20~P4.25 holds..

PIP was the star today, as it nears the psychological P2.50.. I guess nobody drinks Coke anymore, haha!

NIhao continues descending lower after breaking down of P5.80 yesterday, but might have already found supports near those P4.70 levels.

ACR corrected, but also bounced off P1.36 supports.

MBT gave much ground today, losing P1.50, and gave way to BPI in their race to P50.00

Some cycle also back to the OIL sector today..

Comments

  1. oo nga forgot to mention in my dmn pip 20m nfb courtesy of lyonnais, macquarie etc.

  2. thanks for the DMN Dragon! I’m an avid lurker of FM and UCC…but ATRK sold a lot of shares ~1.7M @ 2.42 in the last minutes right? how do we take that action?

    Thanks
    Julius

  3. holders should sell if 2.50 is not broken sir

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