Philippine stock rundown January 14 Aboitiz Powers the day

PSEi 4,132.04 | up 61.93 | 1.52%
Value Php 5.6B

Dow Jones    11,731.90    -23.54    (-0.20%)
S&P 500    1,283.76    -2.20    (-0.17%)
Nasdaq    2,735.29    -2.04    (-0.07%)

Unemployment data showing Americans still losing more jobs than expected was not any reason for a continued uptick.  The Dow Industrials was mostly in negative territory for the day.

It was similarly profit taking for the rest of Asia, with a weak showing on this Friday, but no so with the PSEi.  We manage to close at the highs without any of the usual morning pop then pullback to the red zone.

FOREIGN BUYING      Php 1,815,049,622.5
FOREIGN SELLING      Php 1,694,108,320.65

Overall net foreign trade turn positive, from: LND 56M, TEL 46M, SCC 72M and only largely due to AP’s 249m solo flight.

NFS for some stocks continue: EDC 140M, FGEN 31M (cant even recall now the last time this was strong), FPH 20M, MER 18M, FDC 17M, JGS 23M, SM 37M, CYBR 11M, FLI 21M, CEB 25M,

CYBR’s trade has turned amusing at this point.  there are about 8 big local brokers trying to outwit outlast each other.  In the meantime, an added ingredient to the mix.  CYBR’s continued selling of foreigners (who did not buy recently) increases the floating shares being spun around by punters to about 24M more shares in the past few days.

MER is a nice analogy of gravity as a natural force taking over for stocks with weaker support.  Big buyers at the 200 level were COL Citisec, while big buyers at 240 260 levels were Macquarie, and mostly Deutsche at the latter part.  These fellas were absent on the top at 299, with Deutsche even seen selling.  As such, the price of MER had broken postings on the way down and not every fluctuation had bid postings when investors scrambled to get out.  It was day two today, and MER sank to 260, recovered to 272, and fell back to close at 267.40.

It’s Ramon Ang’s birthday and SMC falls to 172, recovers to 189 but immediately falls to 181.3  by closing. Happy birthday!

Only 5 index losers for today: MER FPH MPI JFC FLI, while gainers were led by AEV AP BPI SM AGI LC/B

Once again, LC was more active upwards by closing, at .475/.485.

On the top overall gainers were PAL 7.28 (RUMORs of buy in? PAL says exploratory talks only), LND 2.05, VITA .63 ISM 4.3, SMPH 850, AP 29.60 (CLOSING right about at that downtrendline resistance), HLCM PAX APM MAC 3.63, LC DMC 36.15, AEV CYBR.

Top losers were PA .074 (INSTANT 10% loss from yesterday’s close, even hit a .071 day low), EG, BCOR SINO SUN SGI 1.17, CEI .082 (INSTANT 18% loss from day high of .097), MER, LR 6.85, SLI ATN BEL 5.60 SMB.

A weekend parting thought.  Why are sucky stocks still sucking, while the leaders keep leading?  The psychology is this: people who made tons of money in whatever leader stocks made their unmoving stocks’ loss insignificant and are just being sold down.  Anyway, profit 100 on stock ABC, loss 25 on stock XYZ.  Sometimes they’re even happy with profit stock 100 on ABC, and loss 100 on stock ABC.  Happy to recoup.

NO. OF ADVANCES:       86
NO. OF DECLINES:       62
NO. OF TRADES:                21582

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