PSEi Update 07.26.13




PSM Update 07.24.13

Status Update

By Philippine Stock Market Updates
July 24, 2013

Trend: Sideways
Phase: Test of resistance around 6,800

Event: China Manufacturing data reports is seen lower than the Government Report which aided the market rally yesterday

Philippine equity market is seen to continue its upbeat after the presidential SONA boosted up investor confidence last monday, followed up by China’s good economic data report.

US stocks on the other hand closed on mixed mood, with DOW now scoring a new all-time high, the momentum of which sent the PSEI flying on its opening hours today

Despite external conflicts and technical issues, our economy remains attractive to our foreign fundies as they began to see more potential growth for the pearl of the orient

“The fundamentals of the Philippine economy made the country an attractive investment destination for fund managers, regardless of external conditions.” – Diwa C. Guinigundo (BSP Deputy Governor)

however the market might go lying on sideways for a while after this momentum rally as the Ghost month effect might bee seen next week.

The next expected effective catalyst for the next rally are is Corporate reports for the 2nd Quarter, which are also the 1st half reports for the companies,

madaming inaantabayanan ng development, a lot more to come… in the mean time enjoy the ride
just remember that you should not buy simply buy based on greed, plan ahead and make decision while you are sound
not when events and news affect your emotions

Erwin San Luis

PSM Update 07.22.13

July 22, 2013

Trend: Sideways (Upward Bias)

Phase: Test of resistance

Event: Presidential SONA

local equities market is still seen to move sideways this week with an upward bias again testing for its resistance line at around 6,600 – 6,800 this is on the back of the country’s solid macroeconomic fundamentals, supported by a low-interest rate environment

SONA might even give the market further boost due to the awaited positive economic reports that might be given in the said address

“Anticipation on the President’s SONA also kept investors optimistic on hearing the administration’s key plans and accomplishments”
-AB Capital

special news,
MERALCO shares(MER) is still seen to be under selling pressure as San Miguel Corp (SMC) is not yet done selling his holdings on the said company
while on the other hand Metro Pacific Investment (MPI) which already owns 48% of the power company, acquired 10 million more Meralco (MER) shares from San Miguel @ 270 each which is pegged as the company’s price support

Market has already slightly recovered from the june sell off but still has some technical pressures that keeps it pulling back from resistance line, at any rate next week is the month end window mode and as much as possible we want to take profit @ PSEI 7,100 in preparation for the not so much action in the ghostmonth on August to September

Thats it for today
Happy Trading

Erwin San Luis