November 15 Report

Market Commentary

Our market managed to close above 3650 to settle at 3,672.22, down 9 points (-0.26%). The downside was expected as the DOW closed down by 70 points or 13,214 (-0.57%). We probably didn't close down as much as the US, percentage-wise, because of a BSP rate cut decision coming out today. People are probably cautiously bullish that the Central Bank will cut rates, therefore the selling was toned down.

The BSP decision will come out today.

Another reason for the steadiness of the stock market is that the Mining Sector was up 281 points. This is largely due to LC, LCB, PX, as well at the A and B shares of Manila Mining (Ticker: MA, MAB)

Actively traded TEL (3,050 ; up +0.66%) also managed to keep the PSEi afloat. MEG, a stock I was tempted to buy (but did not due to my personal liquidity issues), closed up 4.15 (+1.22%). Foreigners were net sellers, from my estimates. What is interesting is that Deutsche has resumed its buying spree. ABN AMRO likewise was on the green side of the market.

Let's see what Deutsche is buying:

TEL
EDC
SM
ALI
MBT

Except for TEL, all other issues Deutsche bought closed down.

The highlight for today was supposed to be SPLASH (Ticker: SPH), which, instead of making a big splash in the market, closed down -5.56%, below IPO price. SPLAT's top buyers were Angping Abacus and Coyiuto. Why isn't First Metro here? Sellers were Asiasec and ABCap.

Market sentiment today may have hurt its listing. Let's see tomorrow if it recovers.

I will always indicate the DOW's performance as part of the market commentary as the US Market plays a strong factor to local sentiment on any given trading day.

Congratulations on those who were able to buy LC yesterday. I am not sure if this will continue tomorrow. As some readers may have known already, I am a strong proponent of the Weekend Factor and would not advise people to load up on a lot of stocks during Fridays.

STOCK

I am removing FGEN from my daily report. This will fly soon. If not tomorrow, that should come next week. This is not based on rumor, rather, this is based on a rising RSI. The RSI hasn't made a significant uptrend. Keep this on your radar. A break of 62 or 62.50 with very strong volume could indicate a breakout for this stock.

Also keep an eye on MEG, LC, and GEO. MEG is likely to go up soon with good earnings to support a strong buying bias. For LC, this is just a third day breakout play. If you plan to buy LC, my suggestion is let this be a day trade. It might pullback on Monday. However, I could be wrong, the value was at Php 236M. Haven't seen this much volume for this stock in a long, long time.

My other baby, PA:

Stock, closing price, +/-% vs previous day's, top 2 buyers. Comments, if any.

PA, 0.215 / - 4.44% / Tower Goldstar (The special stockholder's meeting was pushed to November 23, or am I the last to know? In any case, look to buy this stock somewhere on the .195 to .20 range. The stock is still moving in a tight range. You might be able to make some quick profits here.

I am also including Metrobank (Ticker: MBT) into the limelight. Metrobank has been dragged down by the negative sentiments on the financial sector. It is currently trading at the 260-day average, but well below this year's moving averages of 30 and 60. This could breakout soon as this 260 day average should be a strong support. However, the downside is still the sentiment on the sector.

Also look at this second liner: APO. It was up 7.44%, but I doubt a lot of people noticed this because the buying activity was close to 12NN. Top buyers were Abacus and Citisec. Possibility for day trading tomorrow.

STUCK

Philodrill (Ticker: OV). Can anyone tell me why the ticker is OV??? I have decided to go long on this one. It's oil. A no-brainer.

Tagal Bagal Grabeng 'Intay (Ticker TBGI). With the market correcting so far, I am surprised this is still strong, albeit flat, at 2.90. Volume is minimal though I am not surprised.

SUCK

(Still) ATLAS MINING!!!!!!

Foreign selling.

Congress bombing.

Jinggoy hoping he would win in 2010. Ugh.