DMN November 2 first all souls day trading in a while

Psei 4,341.74 | up 73.00 | 1.71%
Value Php 5.4

Wall Street: Sideways for the two past days.

Last Friday, Wall Street was down then closed flat.  Yesterday, the Dow gained about 125 points earlier in the session and then fell about 55 later in the afternoon.  The reason for all this indecision is that they’re awaiting Tuesday’s mid-term election and the Federal Reserve’s decision on monetary policy.

Meanwhile, Asia trades flat while the PSEi is on steroids.  Best index performers were SM (+18 pts on index, 584 close, up 39Php), AGI ( + 7pts on index, close 12, up .66), PLUS ALI 17.10 MEG 2.74.  Of course there were a lot of other index gainers as well, but only 3 losers: SMPH TEL ABS.

Best ovrall gainers: DIZ 6 (been gaining since last week), APM .012, CPM 2.40 (as mentioned, 2.4 an easy 50% retracement target), SM 584, MEG ICT 45.85, SCC 179.80, FLI 1.44, PIP 2.72 LPZ 5.82

Lots of low volume drops on the overall top losers.

For the love of me, I can’t answer my daughter’s question on why Filipinos visit their departed on All Saints’ day, November 1, and not on November 2, which is the All Souls’ day.  We have been doing this since I can recall, regardless if November 2 was a holiday or not.

Total # of Trades    14,724
Advances    86
Declines    49
Unchanged    34

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