Philippine Stock Summary DMN November 12 blood bank filled to the brim

PSEi 4,076.68 | down -67.73 | -1.63%
Value Php 4,438,218,365.00

Dow Jones    11,283.10    -73.94    (-0.65%)
S&P 500    1,213.54    -5.17    (-0.42%)
Nasdaq    2,555.52    -23.26    (-0.90%)

The global trend has been the same. down about 1% then recover some of these by the close, especially with Cisco’s pessimistic outlook dragging Wall Street sentiments.  This morning, it seems the fear sentiments took a turn for the worse, as Ireland default fears were coupled with Chinese rate hike fears which followed a rise in inflation data.

Local stocks had their usual “is it safe to come out and play” early morning pop, followed by a usual armalite strafing by the hidden bears.

FOREIGN BUYING      Php 2,292,637,001.37
FOREIGN SELLING      Php 2,182,559,908.27
*FIRST SWING BACK in slightly over a week!  This is the first sign of encouraging respite of selling, but Dow futures are down triple digits, China down 5%, Hongkong and the rest down almost 2%, with Europe threatening to drop about 2% as we discuss this.

We were down almost 100 points again, and pared some again to close down 73.  Encouraging the NFB tally were: SECB, 31M, JFC 10M, MPI 104M, SMPH 34M, CEB 67M, ICT 20M, SCC 20M, and of course helping the bulls’ cause was lessened NFS from: MBT FGEN URC AEV AC ALI MEG TEL, NUMBERING in about 10 to 30m nfs each, except for TEL’s 50m nfs.

SM Investments was the biggest index decliner, contributing 11 lost psei points with its 29 peso drop to 520.  Other big index losers: BDO ICT ALI TEL.

However, some gainers along the way: MPI AEV CHIB GLO, AGI, EDC (almost gained)

No one really knows how much more our index will fall, but if you believe (like me) that the longer term trend bull rally is still intact, then you should start shopping now.  If you’re taken over by fear, then just pray you can get out alive on rallies.

Gold that was just 1412 yesterday is now back at 1388 level, and our PHilippine peso is back at 44 level to the dollar.

NO. OF ADVANCES:       34
NO. OF DECLINES:       110
NO. OF TRADES:                14770

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