DMN July 21

PSEi 3,418.71 UP 13.02
value php 3,752,729,515.00

Dow 10,229.96 +75.53 (0.74%)
S&P 500 1,083.48 +12.23 (1.14%)
Nasdaq 2,222.49 +24.26 (1.10%)

Read this. it’s Kind of funny.

Just as markets opened, the headlines read:
Stocks sink as Golman Sachs said second-quarter profit plunged 82 percent to the lowest level since the end of 2008.

After the dow rose from the dead, the headlines read:
Shares rise as Goldman Sachs shares rose 2.2 percent as the banking giant beat earnings expectations but, true to this season, revenue missed.

I don’t think highly paid writers are allowed to write about the speculative psychological nature of why Wall Street fell 1% at the open and rose again to recover and eventually register some decent gains by the close. Like I said, methinks spooky nerves just wanted to see 9700 to 10k retested before attempting to jump in again and try to break out of that 10,300 mark.

Local stocks posted some mild gains, with foreign participation being quite even.

TOTAL FOREIGN BUYING : P 1,403,861,787.10
TOTAL FOREIGN SELLING : P 1,357,431,938.60

We’re back to the 1/3 evenly sliced pie ratio for the index, as 1/3 were gainers, 1/3 losers, the other thirds unchanged. Hidden amongst the index gainers was index under weight MEG which was forcibly evacuated out of the 1.50 level, and into the next higher floor of 1.56. MEGW1/2 were unsuspended today, I didn’t even know they were suspended perhaps for a week now.

Figuring in the overall best gainers were ANI 17.25, UBP 45.50. Good that ANI is waking up again. Fallen 2nd liner leaders like ANI CPM NI etc. that manage to return should give more liquidity to the market.

Oh, expect liquidity to easily halve once the new trading system kicks in come Monday as everybody and his uncle is busy groping and getting used to the new interface.

I managed to get lucky again with some few trades of ORE, and am still keeping some for a “boxed” position. Was disappointed that VLL did not fly to the sky for my own personal benefit, but I was kind of decided not to sell below 2.50. I forgot to mention that my falling knives purchase of SCC was sold yesterday, only to be bought back today as I saw SCC turn from falling knife to bouncing ball. Hope this returns quickly to Longneck’s 101 dalmatians, or else he’s going to the dogs!! JGS gave me a nice morning at 16.75 bid price, but I guess today was not the day it spikes to the moon for us JeGemons. I’m going for 20 on this one if 17.25 breaks. Also took a small speculative position on IMI because my coin toss won on heads or tails guessing game?!?

The property/holding sector from the likes of AC ALI SM SMPH MEG all experienced the heavy NFB today.

RFM’s continued ascent was met with resistance at 1.58, sending it back unchanged to 1.52. DGTL also in the 1.50 mark, was one of today’s bouncing babies.

NO. OF TRADES: 9,663

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