DMN June 23

PSEi   3,342.97         DOWN    8.72
value php       3,050,838,065.00

Dow    10,293.52    -148.89    (-1.43%)
S&P 500    1,095.31    -17.89    (-1.61%)
Nasdaq    2,261.80    -27.29    (-1.19%)


Wall Street falls over 1% on disappointing housing data.  This reminds me, the setup the other day was also a long upper shadow. Up 140 points then losing all that by the close.  This was the same as when Dow broke out of 10,100, but the next day, no confirmation of the drop unlike last night’s 148 point follow through.

The PSEi was weak in line with other Asean neighbors, and we recovered slightly by the close, thanks to foreign punting that decided to net buy today.

TOTAL FOREIGN BUYING   : P  1,252,217,645.42
TOTAL FOREIGN SELLING  : P    823,382,647.00

NFB were heavy on banks: BDO 130M, MBT 77M, SECB 60M, SMPH 72M, ICT 68M

Index gainers were limited to SMPH MER URC JFC GLO, with big gains and volume centering on SCC 90 (rumors of solid earnings), DMC 18.25, CYBR .70, ORE 2.26, CEI .41.

Unsustained momentum from yesterday: BRN 3.50, OV back to .013 seller in the hundreds of Millions. RFM pummeled to 1.12.

NO. OF ADVANCES:              41
NO. OF DECLINES:              54
NO. OF UNCHANGED:             72
NO. OF TRADED ISSUES:        167
NO. OF TRADES:             8,268

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